Dubai Company Registration Procedure Dubai is one of the places on earth where many people want to live and work. The government welcomes foreign investors, but it doesn’t mean that setting up a business in Dubai is an easy process. Company registration in Dubai has been organized through a set of step-by-step procedure.
Company and licensing requirements Foreign investors must consider the following when setting up a company in Dubai. The business licensing requirements vary depending on the category of the business. If you’re an expat or company of expats seeking to establish a business in Dubai, it is important to keep in mind that the Dubai Company Act requires you to have a local partner who will own the majority shares. Investors may form a fully foreign owned company at Dubai Free Zones. In some cases, a foreign company maybe allowed a 100% ownership. Investors are required to meet the minimum share capital requirements, which vary according the type of company and the number of shareholders. The Limited Liability Company (LLC) is the most popular form of business structure in the UAE primarily because it allows companies to come up with flexible different profit sharing
arrangements with a local sponsor. The normal shareholding structure for a Dubai LLC is 51% for the local sponsor and 49% for the foreign shareholder. Types of companies 1. Free zone limited liability companies 2. Free zone establishments 3. Limited liability companies 4. Partnerships 5. Private and public joint stock companies 6. Subsidiaries 7. Branch offices
Company registration procedure
1. Find a local sponsor –business setup in UAE requires start-up companies to have a local sponsor. It is a legal Dubai Economic Department (DED) requirement. 2. Apply for a business/company name and activity approval – this can be carried out by accomplishing a standard application form and submitting it to the DED. 3. Look for a business office space and secure a tenancy contract. 4. Create a Memorandum of Association (MOA) with your sponsor which specifies among others, special arrangements and ownership percentage among all partners. If you’re not familiar with this procedure, you can get the help of a legal team that will handle all the necessary legal paperwork for you. 5. Submit your license application, MOA, tenancy contract along with the rest of the required legal documents and pay all the necessary fees. Typically, licenses are issued after about a week from the day of application.
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