Step by step Process to Set up Business in UAE

1. The first step – Choosing the right consulting partner

Planning and setting up a new business or business expansion is exciting but sometimes daunting. In the United Arab Emirates Jitendra Group has been instrumental in providing all the support and advice you need – and more.

We made it relaxing and much easier by reducing paperwork that means you can begin trading sooner than ever.

Jitendra Consulting Group (JCG), a well-established network of business consultants based out of Dubai, helps you set up, market and manage your company in the UAE. Our experienced team of professionals can help you start your business anywhere in UAE be it the Mainland, Free Zone or Offshore.

2. Choosing Business Types and Business Activities

Carefully choose the type of business and its activities, it has to be in the right legal form and strategically located. JCG will guide you through each step and give expert advice on legal matters, business plans, location selection, entity, ownership, banking and much more besides.

Primarily the Businesses falls into either of these three categories:

• Industrial – Clearly means all manufacturing businesses or operations involving processing goods or packaging products or any other value addition in a premises and making the product ready for sale.
• Commercial – Businesses trading in goods or services to the public such as retail sales, wholesale etc.
• Professional – personally offered high-value services such as management consultancy or public relations

Clarity on all of the business activities is important, as some companies undertake several activities under one business license.

3. Choosing the Legal Form for Business

Choosing the correct business form is important depending upon business activities and the partnership pattern etc.

The UAE offers a wide and flexible range of legal forms to help you choose the one that is right for your business.

These includes

• Individual Establishment
• Civil Company
• Limited Liability Company
• Private Shareholding Company
• Public Shareholding Company
• Simple Limited Partnership
• Partnership Company
• Branch of Foreign Company
• Branch of a Civil Company
• Branch of Dubai Based Company
• Branch of U.A.E. Based Company
• Branch of GCC Company
• Branch of a Freezone Company
• Intelaq (UAE Nationals Only)

4. Choosing Business Location

You must have heard about many different locations and their benefits in the functioning of your business. Selection of the correct location for your company can be critical to your success. UAE’s free zones, various mainland and cluster options offer distinct advantages based on your business type and activities.

For example, Dubai Mainland offers the best business locations in the world, ranging from Sheikh Zayed Road, Downtown Dubai, world’s tallest building, to the smaller shops, and massive malls.

Now if you choose Doing Business in UAE mainland, you will need to register with the Dubai Department of Economic Development, who will issue you with a Dubai business license.

Similarly the specialist free zones may be a better fit for your business.

Dubai has more than 20 free zones, including Media City, Dubai International Financial Centre, Dubai Airport Free zone and Jebel Ali Free zone, one of the largest ports in the world and home to 6,400 companies.

Every free zone has its own unique advantage and is controlled by its own licensing body that needs to be contacted directly for the licensing process.

5. Deciding Ownership Rights

Ownership rights can differ, depending on the type of business and business activities and the location of your business.

For help on business ownership rules for each of the various legal business forms see Ownership Rules for Business Partners.

There seems a big difference between Dubai mainland versus free zones when it comes to ownership rights. However, business ownership and operational control are two separate matters.

In reality UAE nationals and their overseas partners can agree between themselves how profits can be shared and how business decisions are ultimately made.

This means even if overseas business owners Business set up  in UAE mainland, they will still have a full control of their business operations.

6. Search, apply and get trade name of the Company

This aspect can be taken care by JCG’s trained professionals to help you with availability of names in any zone and getting you your desired name.

7. Submit the documents for initial approval certificate

Once the name is finalized the file is then submitted to the IAC, initial approval certificate, this process will take two days meantime JCG professionals will prepare memorandum for your entity.

8. Prepare memorandum

Preparing memorandum in the UAE requires utmost understanding of the legalities of GCC countries and mapping your business requirements into the memo covering all important aspects and enhancing the future potential of your business.

9. Apply and get various licencing approvals

Then we need to submit out the completed file with all the documents duly checked to the authority office and wait for their clearances, normally this will take 7-10 days.

10. Collect business license

Good to go!

Blog Sources: http://www.samsungodwin.com/blog/2015/12/16/step-by-step-process-to-setup-business-in-uae/

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