- October 6, 2015
- Posted by: Aswani
- Category: Blog
An international business sounds like a very interesting prospect, but as exciting as it might be, it is also a rather daunting task. Starting a business in Dubai involves a number of decisions to be taken. Before you get started on registrations, you need to clear to yourself a few points about your business:
Choose your business type and business activities
There are 3 categories to this –
Professional – personally offered high-value services
Commercial – trading in goods or services to the public
Industrial – manufacturing businesses or operations involving processing goods or packaging products for sale
Choose the Legal Form for your Business
Take into account the business type, business activities, the number and the nationality of owners and the ownership options.
Choose a location
Dubai’s mainland and free zone options have different advantages depending on your business type and activities.
Decide ownership rights
Ownership rights can differ, depending on the type of business and business activities and the location of you business.
Once you have taken care of the basics, here’s all you need to know about getting your new business registered:
Reserve a company name and Apply for registration at the Department of Economic Development (DED)
First of all, you need to obtain preliminary approvals from the Licensing Section of the Dubai Department of Economic Development (DED) on the business activities, trade name, and identity of partners.
Notarize the company’s Memorandum of Association
A common practice for this is to get a lawyer or a consultancy service to obtain a preliminary approval from the notary beforehand, so that you can arrive at a specified time and have the documents notarized immediately.
File company documents, Obtain trade license and Register for membership at the Dubai Chamber of Commerce and Industry (DCCI)
To obtain the Trade License and Commercial Registration Certificate, the LLC must submit the following original documents to the Commercial Registry at the DED Trade License and Commercial Registration Department.
The prescribed application form
The memorandum of association (an original and a copy)
A letter issued by the DED, attesting to the company name approval
The original letter of company approval, issued by the DED Committee of Limited Liability Companies
Passport copy of each partner
Authorities will accept a copy of the Ministry’s receipt of publication fee payment. After the publication, the Ministry of Economy issues its approval letter.
After the notary public at the Commercial Registry notarizes the memorandum of association, a license application form is to be completed in Arabic and filed with the DED in duplicate along with the prescribed fee and the following documents:
The prescribed form for setting out the proposed company name in Arabic and English.
The original lease for the company’s office premises.
The prescribed form for obtaining the Dubai Municipality Building Department’s clearance on the suitability of the office premises.
Apply for the establishment card at the Ministry of Labor
Provided the trade license is obtained and the fees are paid, the “Establishment Card” can be issued within one day.
Register native workers with the Ministry of Labor
Native workers must be registered with the Ministry of Labor. You need to submit the following for each:
3 copies of the employment contract
A copy of employer’s passport
A copy of the trading license
A proof that the worker is a UAE citizen
Register native workers with the General Authority for Pension and Social Security
This Registration requires the submission of the native workers’ updated salary certificates or labor contracts.
With these steps in place, you should be able to register a new business in Dubai with utmost ease. Even better would be to avail the services of an expert business setup and registration consultancy to make it plain sailing. After all, proper organization is half the battle won.