Getting a license to operate a business in Dubai is relatively easy, especially for small businesses. The process of applying for a license for a free zone business is far simpler than for a mainland business. You will apply directly to the Municipality or Department of Economic Development. The whole process usually takes around three weeks. However, if you are looking for a mainland business setup in Dubai, you may have to wait longer. Read the following guidelines before starting a business on the mainland.
There are several LLC steps to start a business on the mainland in UAE. You must decide on the type of business and the number of partners to form a company. You can also look for a local sponsor. There are some steps to start your business. These are necessary to run your business legally. It is important to remember that you will have to pay 5% of the value of the contract to obtain the license.
To begin opening a business on the mainland in Dubai, you must choose a trading name for the company. There are over two thousand trade names that you can choose from, but you must remember that the name you choose must not be similar to any other business or be offensive or blasphemous. Once you’ve decided on a trading name, you must register it with the Ministry of Economy and the local Department of Economic Development.
In the UAE, initial approval to start a business on the mainland is crucial for establishing your company. The department responsible for registering new businesses in Dubai oversees the judicial procedures in this region. The Department of Economic Development (DED) governing body issues the licenses to start a business. The DED can be reached through our consultants, who have contacts in the Department.
Starting a business on the mainland in Dubai has advantages, including a fast start-up process and minimal visa requirements. Foreign investors can establish their business through a partnership with at least 51 percent ownership of UAE nationals or by forming a Sole Establishment company. However, some businesses are reserved for UAE nationals only. The shareholders must meet the requirements to establish their company, including filling out the formation documents. Once the shareholders have been established, they must appoint a manager via MOA. The manager must have UAE nationality and must be appointed by shareholders.