Setting up a business in Dubai is a thrilling journey towards endless possibilities. The steps for initiating a business setup are generally straightforward, but even a smallest oversight could lead to significant challenges. If you are a visionary, a person who stay strong for your commitment, Dubai is your ultimate business destination.
This dynamic city offers a strong foundation for your entrepreneurial aspirations. Starting a company setup not only guarantees consistent goal-scoring but also serves as a fertile ground where innovative ideas and hard work bear fruit. The inception of a business venture demands comprehensive research and knowledge.
Today, we will explore the four key steps for setting up a business in Dubai.
1)Choose your business activity
You always need to take the first step for the rest of the journey. For your business journey in Dubai, the initial step is to choose the right activity based on your idea. Additionally, the procedures will depend on the activities you select. The growth of a company setup in Dubai is based on the right activities and effective strategies derived from it. You can check the legality of your activities for setting up a business on the Department of Economic Development website.
2)Choose business structure
Once you have confirmed the business activity, the next step in starting you Dubai business setup is to choose the right type of business. There are various options based on your business activities, but finding the most suitable one is the real task. Freezone, mainland, and offshore company setups represent the three jurisdictions for establishing your business structure. Determining the right business structure depends on several factors, such as the size of your business, the level of liability, the number of shareholders, and various others.
3)Obtain you necessary approvals
For a valid business setup, you need to obtain proper approvals from the necessary governing bodies. Starting from the initial approvals to acquiring the business license, all paperwork should be handled meticulously to set up a company in Dubai. Visa, permit, and license are the key approvals required from the UAE government. Depending on the activities and location, the approvals and procedures may vary. Therefore, having proper knowledge about all these aspects is crucial.
The major business licenses in the UAE include:
Commercial License: A commercial license becomes imperative when enterprises partake in trade activities, facilitating their legal operations in the business realm.
Professional License: On the other hand, a professional license is indispensable for entities providing advisory, legal, medical, and various other professional services.
Industrial License: Lastly, an industrial license caters specifically to companies involved in manufacturing or other industrial pursuits.
Obtaining these licenses is crucial for ensuring compliance with regulatory requirements for setting up a business in Dubai.
4)Register your business setup in Dubai
Once you complete all three steps, the last one to follow is the registration of your company. After all, it’s a comparatively simple step. You can register your company setup through the website of the Department of Economic Development.
The complete process of setting up a business in Dubai can be conclusively referred to as registration. From trade name approval to obtaining a business license, the entire process is called registration. You should also be prepared to pay an amount based on the business type. In conclusion, this is the final step in starting a company setup in Dubai.
Setting up a business with Marqueway
As we have already mentioned, the playground is all set for your business goals, but moving strategically is highly needed. Each step of your business journey should be taken with proper research and guidance. Marqueway, one of the best business consultants in town, is always here to help you successfully set up a business in Dubai.
We always emphasize the word aspiring. Yes, you heard it right. If you are an aspiring entrepreneur, these deserts are made for you. For an aspiring one, perfect guidance is always a good backup. Hiring Marqueway is the right choice for you if you want the best. Each step needs professional guidance, and we are known for it. So, setting up a business in Dubai is no longer a headache.