Dubai is a great place to set up a new business or expand into with your business. Not only is it a thriving city that attracts tourists from all over the world on top of its local demographic, but it has made a point lately of attracting new businesses with concessions in its company freezones. So, how do you get in on that? Take a look at our guide to setting up a business in Dubai.
Apply for a Business License
There are lots of business license options if you are thinking of developing a Dubai freezone company. They include commercial, consultancy, industrial, educational, media, eCommerce, freelancer, warehousing and manufacturing. Which license you apply for will depend which one of these you fall under. In the Dubai Multi Commodities Centre, you can apply for a business license for a range of over 600 business activities.
Choose a Trade Name
This might sound simple, but it might be more complex than you first thought. Your trade name not only has to reflect your business, but it has to adhere to a few rules. It can’t violate public morals, must be followed by the legal form of the company, is compatible with the activity of the company and legal status, and won’t include the names of any governing authority or religion nor allude to them in logos. You can check if your prospective trade name has already been registered with the Department of Economic Development.
Rent your Office Space or Premises
It’s time to go shopping. Depending on what industry you’re in, you’ll be looking for some premises. Even if you’re only setting up an eCommerce business, you’re going to need a warehouse to store all your stock. If your business is more online-focussed, you will need to set up offices for your team. And if you need a premise to work from like a retail store or garage, that will need to be hunted too. You have the option to lease or buy office spaces in free zones, but they have requirements that depend on how many employees you have and the nature of your industry.
That’s all without mentioning where you can live. Take a look at a few expat blogs to understand the living conditions available to you and that are common in Dubai. With some research under your belt you can get something that is value for money in a thriving metropolitan city.
The Final Touches
And with everything else in place, you simply need to get your pre-approvals in place, register your business and gain your business license before you can buy your flight to Dubai.
Initial approval will require a number of documents, including a business plan, application form and copies of passports of company shareholders. Freelancers, on the other hand, will only need to supply an application, a CV, a Registry Identification Code Form and a bank reference letter.
Getting your business registered will take registration fees and license fees on top of submitting a number of documents that only start with the application, a power of attorney, and board resolution appointing manager/director.
Once the authorities prepare your lease agreements, you will be issued your trade license and the process of getting your business visa will start.