Establishment of a private company in Dubai

Establishing a private company in Dubai is an important strategic step that allows investors to benefit from the advanced economic environment and leading infrastructure that characterize the emirate. Dubai, thanks to its strategic geographical location, is a global economic and commercial center linking East and West, making it an attractive destination for companies wishing to expand and grow into new markets. The flexible government procedures and investment facilities offered by Dubai are part of the factors that make it an ideal environment for establishing private companies. However, the process of establishing a new company requires a deep understanding of the legal and administrative procedures followed, and this is where consulting companies like Itqan come into play.

Itqan Company provides investors with the necessary support at all stages of establishing companies, from choosing the appropriate legal structure to obtaining the required licenses and approvals. By cooperating with Itqan, investors can avoid bureaucratic hurdles and ensure the process goes smoothly and quickly. Itqan has extensive experience in the local market and precise knowledge of procedures and requirements, which helps reduce the time and costs associated with the incorporation process.

In addition to technical and administrative support, a private company was established in Dubai that provides specialized consulting in strategic planning, marketing, and financial resource management, which helps new companies launch strongly and achieve sustainable success. Itqan seeks to provide integrated solutions that meet customers’ needs and help them achieve their business goals in Dubai’s competitive environment.

Dubai is an encouraging business environment thanks to its liberal economic policies, political stability, and transparency in business dealings. Dubai also provides a wide network of free zones that offer multiple benefits such as tax exemptions and full foreign ownership of companies, which increases its attractiveness as an investment destination. In cooperation with Itqan, private companies can make the most of these advantages and expand into new markets effectively and efficiently. Establishing a private company in Dubai is a highly profitable investment that benefits investors and contributes to enhancing the economic growth of the city.

Basic steps to establish a private company in Dubai

Dubai is considered one of the most attractive cities for investors around the world thanks to its thriving economic environment and advanced infrastructure. Whether you are an entrepreneur aspiring to expand your business or an investor looking for new opportunities, establishing a private company in Dubai provides you with many benefits, such as tax exemptions, government facilities, and promising business opportunities. However, setting up a company in Dubai requires following a set of basic steps to ensure compliance with local laws and achieve success in the market. Through this guide, we will review the basic steps for establishing a private company in Dubai, allowing you to understand the process comprehensively and clearly. Basic steps to establish a company in Dubai

• Determine the type of business activity: The first step in establishing a company is to determine the type of business activity you want to practice. Dubai offers many options such as commercial, industrial, and service activities. Choosing the right activity helps determine the required procedures and licenses.
• Choosing the legal structure: You must choose the appropriate legal structure for your company, whether it is a limited liability company (LLC), a branch of a foreign company, a free company, or others. Each legal structure has different requirements and procedures.
• Choosing and registering a trade name: You must choose a unique trade name that reflects the company’s activity and ensure that it complies with legal standards in Dubai. After choosing the name, it is registered with the Dubai Economic Development Department (DED).
• Preparing the required documents: Collecting and preparing the necessary documents such as copies of partners’ passports, personal photos, the articles of incorporation, and the company’s articles of association, in addition to the incorporation application form.
• Submitting the application and obtaining approvals: Submitting the incorporation application and necessary documents to the Department of Economic Development or the competent authority in the selected free zone. After reviewing the application, you will obtain the necessary approvals to establish the company.
• Renting an office or work space: Renting an office or work space in Dubai is an important part of the incorporation process. A location can be chosen in one of the free zones or in the city’s business districts.
• Obtaining the required licenses and registrations: Depending on the type of business activity and legal structure, you may need to obtain additional licenses from the relevant government agencies. These licenses include commercial, industrial, or professional activity licenses.
• Opening a bank account: After obtaining the necessary licenses and approvals, you must open a bank account for the company in one of the approved banks in Dubai. This account will be necessary to manage the company’s financial transactions.
• Registration with the Dubai Chamber of Commerce and Industry: Registering your company with the Dubai Chamber of Commerce and Industry is an important step in order to be able to do business in Dubai legally.

Documents required to establish a private company in Dubai

Establishing a private company in Dubai is considered an important strategic step to benefit from the thriving economic environment and advanced infrastructure in the emirate. Dubai, known as a global trade and business hub, offers tremendous opportunities for both local and international investors. However, to ensure that the incorporation process runs smoothly and successfully, it is necessary to prepare all required documents and adhere to specific legal procedures. In this guide, we will go over the basic documents you need to set up a private company in Dubai, helping you prepare well and comply with all legal requirements. Documents required to establish a company in Dubai

• Copies of passports for all partners: Clear copies of passports must be submitted for all partners and founders. Make sure that the passport is valid for a long time.
• Personal photos: Recent personal photos with a white background for all partners and founders. Typically, you need 2-4 photos per person.
• Incorporation Application Form: The incorporation application form is an official document filled out by the founders and submitted to the competent authorities such as the Dubai Economic Development Department (DED) or the competent authority in the free zone.
• Business Plan: A detailed business plan that explains the type of business activity, goals, strategies, and financial expectations of the company. A business plan is necessary to obtain some types of licenses and approvals.
• Memorandum of Association and Articles of Association: The Memorandum of Association and Articles of Association explain the legal structure of the company, the distribution of shares, the rights and obligations of the partners, and any other conditions related to the management of the company. These documents must be signed by all partners.
• Proof of personal address: Submit a document proving each partner’s personal address, such as a utility bill or bank statement showing the full address.
• Power of attorney (if necessary): If there is a person representing the partners or founders in legal and administrative procedures, a signed and notarized power of attorney must be provided.

Our company’s role in establishing a private company in Dubai

Establishing a private company in Dubai is a strategic step to achieve growth and success in a dynamic and evolving global market. Dubai, with its leading infrastructure and strategic location, provides an ideal environment for ambitious companies seeking to expand their business. In addition, the emirate is characterized by flexible legislation and easy government procedures that enhance the ease of establishing companies. Cooperating with a consulting company such as Itqan makes the establishment process smoother and more efficient, as Itqan provides specialized expertise and comprehensive support that includes all aspects of establishment and management.

Itqan Company contributes significantly to accelerating the establishment process and reducing the costs associated with it by providing specialized consultations and precise guidance on legal and administrative procedures. This support ensures that new businesses avoid bureaucratic hurdles and begin operations quickly and efficiently. Itqan’s services are not limited to the establishment stage only, but rather it continues to provide support and advice to companies in various aspects of management and strategic planning, which enhances their chances of success and sustainability in the market.

Dubai offers many advantages to private companies, including tax exemptions, full foreign ownership, and easy repatriation of profits. These advantages make Dubai a favorite destination for foreign and local investors alike. Cooperating with Itqan can maximize the benefit from these advantages, as the company ensures that all procedures are carried out in accordance with legal and local requirements with precision and professionalism.

By establishing a company in Dubai in cooperation with Itqan, companies can achieve a strong start in an encouraging economic environment that supports innovation and growth. Dubai remains one of the best global destinations for establishing businesses thanks to its political and economic stability, transparency in business dealings, and the provision of advanced infrastructure that keeps pace with technological developments. In addition, Dubai is a global business hub that attracts investments from all over the world, giving companies the opportunity to expand and grow on an international scale.

In conclusion, establishing a private company in Dubai represents a worthwhile investment that increases the chances of success and growth in a diverse and dynamic global market. Collaborating with a consulting firm like Itqan ensures that they make the most of the advantages that Dubai has to offer, helping companies establish and grow effectively and efficiently. With Itqan, new businesses can be confident that they will find the support needed to achieve their business goals and move towards a bright and prosperous future.

Frequently asked questions about establishing a private company in Dubai