The process of starting a business in Dubai can be complicated and there are many things to consider before you start. In this blog post, we will go over the steps involved in setting up your own company in Dubai. We will also cover what you need to do to register as an expatriate with the General Directorate of Residency and Foreigners Affairs (GDRFA). Finally, we’ll look at some important considerations for entrepreneurs who want their businesses registered locally. Let’s get started!
The first thing you should do is decide what form your business will take. You can be self-employed, in which case you will need to register as a sole proprietor. If you want others to work for your company, then you must set up a limited liability entity (LLC). These are the most common legal forms of conducting business in Dubai, and you will likely need to file paperwork with the local emirate government (duha) or federal ministry (kafa) if you wish to register your company.
Major considerations for setting up a business
Then there are some major considerations when starting up a business: what type do I want? Who is my target audience? What is my overall strategy? Who will I be employing and what are the labour laws in Dubai? These questions need to be answered before you start your new company.
There are many things that can go wrong when setting up a business in Dubai, so it’s best to know about all of them before they happen to you. Doing your research and being prepared is the best advice for entrepreneurs who want to start a business in Dubai.
The legal stuff
You must apply for a trade license, which you can do through your local emirate government (duha). If you decide to be self-employed and run your own company then there are different procedures depending on whether or not you plan on selling goods and services, and whether you will be located in Dubai or outside the country.
You can only receive a trade license certificate if you can prove that your business has no outstanding debts owed to creditors. Also, you must not have any judgments registered against you from the Court of First Instance or Cassation court. You may ask for a letter confirming that there are no judgments registered, which you should attach to your trade license application in Dubai.
To register as an ex-pat with the GDRFA (duba general directorate of residency and foreigners affairs) you must satisfy some basic requirements in order to obtain a resident visa:
- You must pass their medical examination (and submit the results).
- You must have a sponsor who is a resident, citizen or an ex-pat already living in Dubai, which can be the same person as your employer.
- Your sponsor must provide you with proof of their accommodation and show that they earn at least (AED)21000 per month.
- He/she must also provide you with an original bank statement that proves he earns at least (AED)21000 per month and has a balance of at least (AED)100,000.
- You must have a valid passport that is not expiring within the next 6 months.
- The residency visa application fees are AED500 for a temporary resident visa, AED600 for an individual rental, or AED1200 for a residential (ownership) visa.
- The residency application procedure can take 6 weeks to complete. If you have the required documents and your sponsor is already living in Dubai then it may be quicker than that. You will need some patience when applying for this visa, but it is well worth the wait.
- It’s important to note that if you do not have a visa in Dubai then you will be considered as an illegal ex-pat and may be deported at any time.
- We must also mention that starting up a business with a UAE partner may give you certain advantages compared to being self-employed or working as part of an LLC.
- Payment plans for living in Dubai
- For individuals who are planning to live and work in Dubai, you can find everything you need on our website Dubaibusinessadvisors.com. There is a free guide that explains how to obtain an individual rental apartment (which allows anyone from any country to stay and look for a job for up to 6 months) or a long term visa through the sponsorship of a company.
- We also provide advice on finding an apartment, how much it will cost you and how to register yourself as an ex-pat with the GDRFA. If you have any questions please don’t hesitate to ask, we are here to help you.
- There are many different payment plans that you can choose from depending on your budget, which we explain in detail. Costs for living and working in Dubai start from as low as AED1500 per month.
- Our commitment is to provide help for all small business owners who are thinking about starting a new company in Dubai. If you have any questions related to your business setup in Dubai, please send us an email and we will be more than happy to help.
- Dubai Business Advisors is a full-service company that provides services for starting and operating successful businesses in the United Arab Emirates. Our primary goal is to offer customers industry-specific business planning advice, technical consulting and support at every stage of development. We guarantee that any business we set up in Dubai will be successful and profitable. It’s essential to create a clear vision of what your company is going to do and make a strategy for how you plan to accomplish it.
Conclusion paragraph: We hope you’ve found the information that we have offered in this blog post to be useful. There are many steps and considerations when starting a business in Dubai, but with our help, it doesn’t need to be as difficult or overwhelming as it may seem. If you want your own company registered locally so that its profits will not be taxed by authorities elsewhere, then make sure to contact us about registering now before considering other options of incorporation. You can reach out through email at [email protected] for more details on how we might best serve your needs!