Dubai is one of the few cities in the world with modern, state-of-the-art infrastructure. It is a very diversified place and a lot of people from all over the globe come to Dubai to pursue their dreams. Whether you want to be an entrepreneur or be a part of the skilled workforce, there are options for you in Dubai.
Business setup in Dubai could be a challenging task if you are not completely certain about the procedures involved in it. This is where the expertise of companies like Virtuzone could be of immense help. They are well-known in the space to do all the heavy-lifting for the clients and making the entire process streamlined and transparent. All you need is to set up a non-obligatory and free consultation with them to go over the procedures involved in a business setup in Dubai.
Steps to set up business in the UAE:
Even though it might seem overwhelming to set up business operations in Dubai, it could be well understood in few simple steps. Let’s explore them in detail:
- One of the most important factors before business setup is to know if your organization could be included in a free trade zone. One of the requirements for a company to be included in the free trade zone is to have operations outside of the city. If not, you need to partner with a local firm to set up your operations. If you are approved to be a part of the zone, then you enjoy privileges of not paying any corporate tax.
- Next step is to make sure you open a bank account for your firm and deposit at least the minimum capital required. You could do this on your own or seek Virtuzone’s assistance to make the process even faster.
- You also need to complete registration of trade name for the company. To do this along with getting a business license, just go online to the Department of Development’s website, complete the application and pay the fee. The approval process takes about a day if you do it online. It might take longer if you decide to get it done at the department of development’s office.
- You also need an experienced attorney who could help you with the notarization of Memorandum of Association with the department. Make sure that the points mentioned in the document are within the guidelines of the Dubai law. Once you complete the formalities and pay the notary fee, the whole process could be even completed within a day.
- Once you have all the documents required, submit them to the department of development’s commercial registry unit. There is a fee associated with this and once it is approved, a registration certificate would be issued. It will then be the department’s responsibility to forward your firm’s information to the Ministry of Commerce so that they could include your company’s name in the list. Once that is done, your organization is totally free to get started in the city of gold.
Documentation is the most important element in establishing your company in Dubai. If you have a residence visa, then it needs to be a part of the checklist. Some of the other important ones to be included are address proofs and passport copies of all the shareholders, their resume as well as references for each of them. If the shareholder is a corporation, then there is a different set of documents required. Even though all of this might differ depending on the nature of the business, it is always advisable to get in touch with an industry expert to make the transition smoother.
If you feel all of the above is too intimidating, then contact Virtuzone and it could just be your one setup support. Since its inception in 2009, the company has established itself in the space and is known to make things easier for their clients so that they could concentrate more on their day to day business operations. Majority of their clients renewing their trade license with them every single year speaks in itself the reputation they carry in the market.
They have expert advisors at each step to guide you and if you are all set to enter the Dubai market, pick up the phone and set up a free consultation with them.