The UAE is quite simply an unbeatable destination for company formation. As the perfect gateway between East and West, the seven Emirates will serve as your springboard for global success. Foreign investors and entrepreneurs are attracted by the world-class infrastructure, no profit repatriation restrictions, multiple free trade agreements, 100% foreign company ownership and tax efficient conditions.
The first step in taking advantage of these boundless benefits is to register your company in Dubai. The licensing process is relatively straightforward, but it will require you to have an understanding of the UAE company register system. Do you want to set up in a freezone, offshore or mainland? Which type of licence will you require? What legal form of business will you be undertaking?
In the hands of Europe Emirates Group, you can be sure that your company set-up will be quick – it can be completed in 24hrs if required – efficient and totally hassle-free. Keep reading for a brief overview of how to set up a business in the UAE to get up to speed with what the process entails.
How to register a company in the UAE
To ensure that your organisation is a recognised legal entity, you need to register your company and acquire the correct licence for your business operations. The licence certifies your company to conduct business as detailed in your business plan and identifies you as contributors to the regional and global economy. It is worth noting that as the licence holder, you are accountable for all commercial proceedings, as authorised by government entities.
If you are setting up a mainland company, there are six main types of economic licences that are determined by the nature of the company’s activity, namely:
- Occupational
- Industrial
- Agricultural
- Tourism
- Commercial
- Professional
You will need to declare your company structure, whether it be a sole establishment, a branch of a GCC company, a civil company, a branch of a local company, a limited liability company, a holding company, a public joint stock company, a representative office of a foreign company or a private joint stock company.
Documents required for company set-up
The various jurisdictions within the UAE have different company formation and licensing requirements, but you will commonly need to present the following documents:
- Passport and residency visas of the business partners and managers
- Company structure and other legal necessities like the Memorandum of Association
- Approvals from government entities like the Department of Economic Development
On submitting these documents along with the registration fee, the required licence will be issued. All business licences must be renewed annually. Failure to do so ahead of the due date will incur penalisations.
To make your company formation experience hassle-free, it is recommended you entrust the procedure to an experienced and knowledgeable partner. Fortunately, you’re in the right place. Europe Emirates Group’s friendly team of experts have successfully assisted over 90,000 clients throughout the licensing process. Will you be the next one? Contact us now to get going.
