Know the Exact Procedure for Company Registration in Dubai
Setting up a company is a daunting project, especially for an overseas entrepreneur. Dubai stands one of the top choices for entrepreneurs who are willing to set up a company in a new country. Company registration is the first and foremost crucial step in setting up a company. It is a long process that takes a lot of time to complete.
So, if you are dreaming of establishing a startup in Dubai, then you must be aware of the registration process and the documents required. Therefore, connect with an agency who will offer the step-by-step guide for registering your proposed company. Also, it is recommended to reach an agent who is versatile enough to handle all types of company registration.
Stages of Company Registration in Dubai:
You have to pass the following phases for registering your company in Dubai.
Stage 1: Identify the Nature of Your Business
First, identify the type of business you want to set up. The type of license you require depends upon your business activity. Specialized activities like jewelry, legal, consultancy, veterinary, etc require approval from various government departments. Remember that the rules and regulations for company registration vary from one free zone to another. Similarly, the registration process for an offshore company is slightly different from the Freezone company.
Stage 2: Decide the Ownership and Legal Structure
There are mainly six types of business you can set up in Dubai:
- General Partnership: It refers to the involvement of two or more partners who are responsible for the performance of the company.
- Limited Partnership: In this form of partnership, each partner is liable to pay the company debts up to his capital contribution.
- Public Shareholding Company: This form of company can have a maximum number of shareholders. The company can also sell its shares to the public at large.
- Private Shareholding Company: A private company can be set up with three shareholders at least. As the name suggests, it can sell its shares to the general public.
- Limited Liability Company: The liability of the shareholders is limited to the face value of the shares they hold in the company. It can have at least two persons but the maximum limit should not exceed by 50.
- Joint Venture: A joint venture is formed with two or more legal entities or persons with the same objective.
Stage 3: Select Your Company Name
Select a name that goes with the nature, vision, and mission of your business. Make sure that your company name doesn’t include any offensive language, religion, or political parties. Also, ensure that you don’t select a name that is similar to an existing company. You can use the name of a person only when he is a part of your company.
Stage 4: Share Capital
Know the amount of the share capital needed to start your company. Prepare a Memorandum of Association for your company and specify the share capital in it.
Stage 5: Finalize All Paperwork
Now it’s time to submit the necessary documents to approve your company name, ownership, legal structure, share capital, elected shareholders, and more. Now, the concerned department will analyze these documents and send its approval.
Stage 6: Choose Company Premises
Once the aforesaid elements are accepted, choose a location for setting up your company. It is also preferable to choose a location that is close to the airport, harbor, and market. Thus, purchasing of raw materials, import and export of goods will be easier. Finally, ensure that skilled labors are available for your company.
Stage 7: Receive Your License Notification
If the UAE government is satisfied with your business proposal, it generated the registration license. Now you can ask for the incorporation and commencement license for running your business.
Stage 8: Open a Bank Account
At the final stage, you will need to open a bank account in your company name. Therefore, select a bank near your company and open a bank account. You can do the work by yourself or handover the necessary documents to an agent as well. Then, he will be responsible to open a bank account on behalf of your company. So, if your business partners do not reside in Dubai, then apply for their Visa.
Obtain a Higher Standard of Service for Company Registration in Dubai:
Connect with the company experts at UAE Website Development to bring your dream project in reality. We ensure that our customers meet all legal requirements while setting up their startup. Thus, you won’t have to face difficulties in the middle of the registration process. You won’t have to delay your company registration if you connect with us. Moreover, we don’t charge a higher cost for providing our service. We offer an end-to-end service for our clients who are the would-be entrepreneurs of Dubai.
We have account managers who will clear your doubts regarding the financial aspects of company registration. The professional will keep you informed of the status of your license application at every stage. You will then get the latest information on how to register a business in Dubai. You will need to be ready with a few documents and give an hour of your precious time to start your business. So, make us your ideal partner and book your service request @ 0507077947