Starting a company in Dubai can be a daunting task. There are many different steps you need to take in order to get your business off the ground, and if you’re not familiar with the process, it can be easy to make mistakes. Here are some tips that will help you set up your company correctly and avoid many common pitfalls.
Make Sure You Have A Valid Business Visa
In order to start a company in Dubai, you will need to be in the country on a valid business visa. The visa must be for the specific purpose of setting up a company, and you will not be able to do so on a tourist visa.
Set Up A Corporate Bank Account
One of the first things you’ll need to do is set up a corporate bank account. This account will be used to manage your company’s finances and make payments. It’s important to choose a bank that is familiar with corporate accounts and has branches in Dubai.
Get Your Commercial Licence
To operate a business and do a company setup in Dubai, you will need to obtain a commercial license. This license is issued by the Department of Economic Development (DED) and is required for all businesses, regardless of size or sector.
Register Your Company Name
In order to protect your company’s name and intellectual property, it’s important to register it with the Trade Mark Registry in Dubai. This can be done through the DED, or Chamber of Commerce.
Get A CRN (Commercial Registration Number)
All businesses in Dubai must have a CRN for Company Setup in Dubai, which is a unique registration number assigned to your company. This number is used to track your business and its activities. It’s important to get this number as soon as possible, as it can take some time to obtain.
Set Up A Company Structure
The company structure you choose will determine how your business is run and taxed. There are several different structures to choose from, so it’s important to consult with an accountant or lawyer to decide which is best for your company.
Register Your Business In The DED Database
All businesses in Dubai must be registered in the DED database. This can be done through the DED website or one of their offices around the city.
Get Insurance
A website is a must for any business in Dubai. Not only does it give customers a way to find out more about your company, but it also helps to legitimize your business and shows that you’re serious about doing business in the UAE.
Don’t Forget To Tax Your Business
All businesses in Dubai are required to pay taxes. The amount you will need to pay depends on the type of business you have and it’s turnover. It’s important to speak with an accountant to get an idea of how much tax you will need to pay and when it’s due. By following these tips, you can set up your company in Dubai quickly and efficiently and avoid many common mistakes.
There are several benefits to setting up a company in Dubai, including:
Excellent Infrastructure
Dubai has one of the best infrastructures in the world, with excellent roads, telecommunications, and transport links. This makes it easy for businesses to get around and do business with other countries.
Pro-Business Environment
The government of Dubai is pro-business and is committed to making it as easy as possible for companies to set up shop and do business in the city. There are few restrictions on who can start a company or what type of business you can operate, and the process of starting a company is relatively simple.
Diverse Economy
Dubai has a very diverse economy, with sectors such as tourism, construction, logistics, trade, and finance all thriving. This makes it a great place to do company setup in Dubai and provides a lot of opportunities for companies of all sizes.
Tax-Friendly
Dubai is a tax-friendly destination, and there are a number of incentives available for businesses, including 100% foreign ownership, no income tax, and no corporate tax.
Robust Legal System
The legal system in Dubai is robust and based on English common law. This makes it easy for businesses to understand and comply with the laws of the city. By setting up your company in Dubai, you can enjoy all these benefits and more!
Wrap up: So there you have it—the essential steps to setting up a company in Dubai. While each step may seem daunting, our team of experts at the Express Emirates is here to help guide you through every process and make sure your business is set up for success. With excellent infrastructure, a pro-business environment, and a diverse economy, Dubai is quickly becoming one of the world’s most sought-after destinations for businesses of all sizes. Don’t miss out! Get in touch with us today to find out more about how we can assist you with company setup in Dubai!