How do companies exist in Dubai?
Dubai is a city which is in the geographical location that lies in between the Asian and European market where the trading activities began from very past days itself to till now. Thus the recreation of a market is established as part of Dubai Mainland and Free zones in Dubai.
If you wish to start up a company in a city like Dubai and then it is the most appropriate decision you have made for entering into the foreign market. In the current market scenario on doing a business in Dubai became a challenging task and so you must choose a best location for your business that can able to withstand from the heavy marketing risks to future. The location of your business will give you the results in the profit wise as well for maintaining the position in the market.
The basic things that every Dubai free zone companies done with are about the selection of free zones to set up their business. While doing a business in free zones of Dubai the mode of benefits will automatically adapt to you. Free zones are like special economic zones were you can start an off shore company with a complete trust on capital investment and also the marketing department.
Dubai Mainland:
In Dubai to start a business then you must obtain a business license and only after that your company formation procedures are allowed to implement. So here in Dubai Mainland the option for the business registration is like simply submit your business details to the Department of Economic Development and through them you are able to obtain the business license. Further registration process can be carried out with the help of any business consultants in Dubai.
Dubai free zones:
As already said that free zones of Dubai is a blessing for the business people in UAE to their survival in Business field. These zones acts as the special economic zones that enable few essential benefits for starting a company.
Key benefits of free zone companies are:
- 100% stake in the company
- 100% profits in repatriation
- No tax for corporate and income
- Easy employee recruitment
- Easy visa processing
- Various licensed benefits
About Local sponsor:
The main factor that you need to work out on starting a business in Dubai is simply choosing a local sponsor. A local sponsor is the person who is already running their business in UAE nation in the same business field should have 51% ownership in your business as per the legal aspect of UAE. Local sponsor as well as the business license in Dubai is a mandatory for the new start up in Dubai. Meanwhile the local sponsor is a boon actually for your business to run naturally from the starting point. They are experienced business people who are in UAE market from very long time. Even some times new business people will have some conflicts in market frequently and the presence of local sponsor will help you to overcome such situations. The legal activities that may rise problems for your business in future can also be resolved with the help of local sponsor. Thus maintaining a continuous rapport with him/her gives you the positive results all the time.
Documents required for the company formation in Dubai:
- Passports of Directors/shareholders/partners
- Registration form
- Memorandum of Association (MOA)
- Article of Association
- Chamber of commerce extract
- Board resolution
During the incorporation of a company in Dubai, there are certain services provided by them are:
- Legal guidance is provided related to your business
- Advice on the corporate infrastructure that suits for your business
- The documents are collected through online and offline
- File maintenance and submissions are followed
- Frequent meetings are conducted with the potential clients
- Maintaining accounts and book keeping
- PRO works and visa processing
About Business License:
Business license is the complete authorization that you will get from the legal part of UAE nation for your business in order to get registered and to start the business. So the license for your business gives rights to run business in Dubai. The business license depends on the type of business you are doing with. There are some common license that everybody use in Dubai are:
- Commercial License
- Professional License
- Industrial License
Commercial License: This type of license is used by the business that involves the trading activities.
Professional License: It is also termed as Non- Commercial License. Here the business undergoing professional activities use this license.
Industrial License: This type of license is used by the business in manufacturing or production activities
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