Company registration in Dubai – Comprehensive guide

Dubai offers countless business opportunities to investors and entrepreneurs who want to avail benefits of tax-free zones, strategic location and ultra modern infrastructure of this city. When it comes to investment, they usually go for online company registration in Dubai and start running a successful business in this city of skyscrapers. But reality is the company registration process is a bit complex as you need to furnish different documents and follow multiple steps. So, today Prospr is here to help you overcome the challenge of company registration in Dubai. We are planning to unlock a step-by step guide that will let you register a company in Dubai swiftly.

Steps of company registration

Here are some steps you need to follow:

STEP 1-Define nature of business activities

If you want to start a business in Dubai, the first thing you will do is to identify the nature of your business and define all the business activities. It’s because you get a trade license in Dubai based on business nature and activities. When you don’t mention all activities in this step, you won’t be able to continue with them later under your business license.

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STEP 2-Determine legal structure of your company

You can register a company in either Mainland or free zone. When an investor plans to open a company in Mainland, LLC is a good option. You can get access to the local market while having 100 percent ownership of your business. On the flip side, free zone companies can avail zero tax benefits and exemptions from import/export duties.

When you are picking a legal form of your company, you need to take into account your target market, regulatory needs, business goals, etc. It’s always a good idea to book a consultation session with business consultants at Prospr. Our expert’s guidance will help you determine the legal structure of your company.

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STEP 3- Trade name registration

There is a need to choose and register a suitable trade name based on your business activities. The UAE government has issued some naming conventions and rules. You should go through all those conventions and rules before choosing a trade name in Dubai. If you follow the rule, you can prevent unnecessary delay, which happens due to trade name rejection. Again, you can get advice from Prospr’s business consultants who ensure that you don’t choose a trade name that has some restrictions.

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STEP 4- Initial approval

Before you opt for an online company registration application, you should ensure that you have received all the approvals from the relevant authorities. These preliminary approval helps you move forward with your application without any issue.

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You will submit details of your company name, business activity and legal structure to appropriate authority to get approval. Once authorities examine your delay and ensure that it fulfills all the local laws, you can go with your online company registration application.

STEP 5- LSA and MoA

If expats are setting up a company in Mainland, they will have to get help from a Local service agents. These agents will take care of all the legal formalities on behalf of the company but they won’t interfere in business activities and decisions. You will draft a Local service agreement that shows mutual agreement between you and LSA. This agreement has to be duly signed and submitted to the respective authorities.

Another legal document you need to draft is the Memorandum of Association (MOA). This document provides essential details of the company such as business objectives, number of shareholders, financial projections, share capital, and other mandatory details of the business you are going to open in Dubai.

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STEP 6 -Choose your business location

Another crucial step is to pick a business location. You should know that infrastructure, tax regulation and availability of resources vary from one location to another. You need to lease a suitable workspace for your business and get a tenancy contract from the landlord. This document will also be used during online company registration in Dubai.

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STEP 7- Additional government approvals

Some business activities require you to see additional government approval. For example, if you are doing some healthcare business, you need to get approval from the Ministry of Health. Don’t know what additional approval you need to apply?

Well, in that case Prospr’s business consultants are there to assist you. We keep you well-informed regarding all the documents and approvals you need. You can avail our PRO services that speed up the process of company formation in Dubai, UAE.

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STEP 8- Submit required documents

If you want to ensure smooth processing of your company registration application, you need to provide all the required documents. Check the list of documents you need to provide to register company in UAE :

• Passport-size photograph of the business owner
• Copies of Passport and visa all the legal participants
• Notarised and attested LSA and MOA.
• Ejari Number (verification of tenancy contract)

STEP 9- Pay fees and collect license

Once you submit the document, you will pay the fee. The cost of company registration in Dubai varies. If you want to get an exact cost estimate, you should speak with business consultants at Prospr. We will guide regarding the exact cost of  company registration in Dubai. After you document submission and fee, you need to wait. Authorities will review your application and issue you license upon approval.

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Wrap up

Finally, you know how to register a company in Dubai. The whole process is time-consuming and needs effort from your side as you will have to finish all the essential documents. At Prospr, we offer a comprehensive range of company registration services from documentation prep to translation, licensing and PRO services. We help you start your entrepreneurial journey in Dubai on time through our dependable company registration services.

Book a consultation with Prospr now!