Steps To Register Your Business In Dubai
Before taking steps to register your business in Dubai, you will want to be sure every aspect of the new business has been planned. New businesses will need start-up funds, either from friends and family or from lending institutions. Each bank has different requirements for business loans and business banking services, so it’s important to find a bank that suits your needs.
If your future business is in a new field or this is your first business, it might be a good idea to take a basic course in business management or a course specifically designed for the market you’re trying to reach. Most of the major universities in Dubai offer masters of business administration programs. There are also several training institutes that run business-related workshops throughout the year.
Most importantly, it’s important to understand Dubai’s commerce laws before you get started. The Department of Economic Development is a good resource for researching the laws that will affect your business.
Other than that, here are the steps you need to take to register your business in Dubai.
1. Select A Business Activity
There are more than 2,000 business activities available in Dubai, which fall into different classes and groups. Please note that some of the business activities require approvals from government bodies other than the DED.
2. Select A Legal Form For Your Business
A ‘legal form’ is a description of what sort of business you are starting up. It is not a form that needs to be filled in. When you select a legal form for your business in Dubai, you must take into account the business type, business activities, the number and the nationality of owners, and the ownership options. Companies in Dubai can take various legal forms. Depending on your particular business activity not all of these legal options may be open to you. Please check which business activities go with which legal forms.
3. Select A Trade Name For Your Business
When choosing a name for your business or company you should follow general trade name guidelines. You can apply for a trading name online or go through an authorized document clearing office or law firm. Please note that to access online services, you need a BRL online user account.
4. Apply For An Initial Approval Certificate
An Initial Approval Certificate is a document that says that the Dubai Government has no objection to you starting a business and means you can take the next steps to get a business license. There are various ways to apply for your Initial Approval Certificate, depending on the legal form of your business.
5. Prepare A Memorandum Of Association And Local Service Agent Agreement, If Relevant
Depending on the legal form of your company, you and your business partners may need to draft and sign a Memorandum of Association (MOA). In some cases, you will have to sign a Local Service Agent (LSA) agreement with a UAE national, who will represent your business with regards to licensing and compliance.
6. Establish Your Business Location
All businesses in Dubai must have a physical address. Before you finalize the location of your business, the Dubai Municipality Planning Section has to confirm the property’s availability and suitability and compliance with public health and safety requirements. You can also choose to locate your company in an authorized business center, in which case you do not need location-related approvals from Dubai Municipality.
7. Where Necessary, Obtain Licensing Approvals For Your Business Activity
Some business activities require special licensing approvals by different government departments. For example, if you want to set up a hospital, it is not enough to get licensing approvals from DED only but also from the Dubai Health Authority.
8. Collect Your Business Licence
Now that you have completed the steps above, you need to submit all the documents to the DED counters. Depending on your business activity, the processing of your business license ranges from 1 – 7 days.
Are you looking for a comprehensive guide for Dubai? Or moving to the UAE? Make sure to check out Escape To The United Arab Emirates, you’ll love it!
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