Steps to establish a company in Dubai

Steps to establish a company in Dubai Establishing a company in Dubai is an important strategic step for investors seeking to benefit from the broad opportunities in the global business market. Dubai has an advanced business environment and flexible laws, making the process of setting up companies smooth and efficient. In this article, we will discuss the steps for establishing a company in Dubai in cooperation with Itqan Company, helping investors understand the necessary procedures and specific requirements to start working in this dynamic and thriving market. With their extensive experience, the Itqan team helps you simplify these steps and guide you through the process. By partnering with Itqan, you can benefit from in-depth knowledge of local laws, regulations and strategic directives that help you build a successful foundation for your business in Dubai. Initiate cooperation with Itqan and embark on the journey of establishing a company in Dubai efficiently and competently, benefiting from the professional support and comprehensive knowledge that this distinguished company will provide you.

Steps to establish a company in Dubai

Establishing a company in Dubai involves a number of legal procedures. Here are the steps for establishing a company in Dubai:

1. Determine the type of company: You must specify the type of company you wish to establish in Dubai, such as a local company, a limited liability company, a public company, or a branch of a foreign company.
2. Choosing a company name: You must choose a suitable and unique name for the company, and you must ensure that it does not match the names of other existing companies.
3. Determine the financial contribution: The financial contribution required to establish the company must be determined and the contribution percentages for the partners must be determined.
4. Preparing the Articles of Association: The Articles of Association must be prepared, which defines the company’s structure, the rights and duties of the partners, and the proposed business activities.
5. Signing contracts and documents: The articles of incorporation and other documents must also be signed by all partners participating in the company.
6. Permitting and Registration: You must also submit an application to obtain a permit and register the company with the relevant authorities such as the Dubai Department of Economic Development (DED) or the Dubai Department of Commerce and Industry (DCCI), where the company’s establishment will be reviewed and approved.
7. Obtaining a business license: Then, after registering the company, you must obtain a business license from the Dubai Economic Development Department (DED) or the Dubai Economic and Regulatory Development Authority (Dubai DED).
8. Opening a bank account: A bank account must be opened in the name of the company to manage financial transactions.

Types of companies that can be established in Dubai

Several types of companies can be established in Dubai, some of which include:

These types of companies allow investors to make the right choice according to their needs and circumstances, and provide a clear legal framework for their business operations in Dubai.

Documents required to establish a company in Dubai

Establishing a company in Dubai requires submitting a number of documents necessary to complete the legal and administrative procedures. Among the documents usually required are:

• License application form: The license application form must be filled out with all the details required by the company to be established.
• Copy of passport: for all shareholders, directors and partners in the company.
• Trade Registration Certificate: If the company is already established in another country, its Trade Registration Certificate must be submitted.
• Lease contract or proof of ownership: A copy of the lease contract for the address where the company will be located, or proof of ownership if the property belongs to the company, must be provided.
• Business Plan: A detailed business plan must be submitted that explains the goals and activities of the proposed company, including financial forecasts and marketing plans.
• Details of shareholders and directors: A list of names and contact details of all relevant shareholders and directors of the company must be provided.
• No-objection certificate: If a shareholder is not a resident of Dubai, he may be required to obtain a no-objection certificate from an authority.

The cost of establishing a company in Dubai

The cost of establishing a company in Dubai is affected by several factors, including the type of company, the amount of capital required, and additional services that the company may need. Here’s a summary of the main setup costs:

1. State licensing fees: These fees vary depending on the type of company and business activity chosen. These fees may range from several thousand to several tens of thousands of UAE dirhams.
2. Administration and Legal Consultation Costs: You may need to consult an attorney or legal advisor to assist you in preparing necessary legal documents and complying with local laws and regulations. The cost of these services ranges depending on the complexity of the process and the reputation of the attorney.
3. Business Address and Virtual Office Costs: In some cases, you may be required to provide a local business address and virtual corporate services companies can provide this service for an annual fee.
4. Required Capital: Minimum capital requirements vary between types of companies. For example, LLCs may have a certain minimum capital, while sole proprietorships or partnerships may require different capital.
5. Registration and attestation fees: You may need to pay a fee to register the company and obtain and attest the necessary legal documents.
6. Insurance and social security costs: You may need to pay for health insurance and social security for employees, depending on the requirements of working in Dubai.

Regulations that must be adhered to while establishing a company in Dubai

While setting up a company in Dubai, several regulations and laws must be adhered to to ensure legal compliance and successful operation of the company. Here are some of the main regulations that must be adhered to:

1. Companies and Partnerships Law: First and foremost, this law regulates the establishment and operation of companies in Dubai, including different types of companies such as joint-stock companies and limited liability companies.
2. Economic sector regulations: There may also be regulations and laws specific to the economic sector to which your company belongs, such as building regulations, health care, or financial services.
3. Tax laws: Therefore, companies must adhere to local tax legislation, including paying local taxes and submitting tax reports regularly.
4. Labor and Human Resources Regulations: Companies must adhere to local labor laws and provide a safe and healthy work environment for employees, including requirements for obtaining work permits and labor rights.
5. Environmental regulations: There may also be local environmental regulations that companies need to adhere to, such as safe waste disposal and protection of natural resources.
6. Intellectual Property Laws: Companies must then protect their intellectual property rights and possess the necessary licenses to use technologies, trademarks, and patents.
7. Occupational safety and health regulations: Companies are also committed to providing a safe and healthy work environment for employees and customers, in accordance with local occupational safety and health regulations.

Procedures necessary to open a company bank account in Dubai

The procedures necessary to open a company bank account in Dubai require a set of basic steps. First, the company owner or authorized manager must submit the required documents to the chosen bank, which usually include:

1. Choosing the right bank: Research and choose the bank that meets your company’s needs and provides the appropriate services.
2. Preparing the required documents: The required documents may vary depending on the banks, but usually include:
   a copy of the official document establishing the company (such as the articles of incorporation or the commercial register).
   A copy of the ID card of shareholders and directors.
   Application form to open a bank account.
   Information about business activity and financial forecasts.
   Signature of officials on bank forms.
3. Visit the bank and submit the application: Visit the selected bank branch and submit the required documents.
4. Verification of identity and information: You may be asked to provide further documents or procedures to verify identity and information.
5. Signing the agreement and activating the account: After approval, you may need to sign the banking agreement and activate the account.
6. Receiving the bank card and documents: You will receive a bank card and account confirmation documents after completing the procedures.

Advantages of cooperating with us to establish a company in Dubai

Establishing a company in Dubai offers many advantages that make it an ideal destination for businessmen and investors. Here are some key advantages:

• Thriving business environment: Dubai also has a developed and dynamic business environment, making it one of the most attractive cities for business in the world.
• Facilitated tax policies: Companies in Dubai then have the advantage of not being taxed on income and profit in most economic sectors, which attracts investors.
• Access to regional and global markets: Therefore, thanks to its strategic location, Dubai provides easy access to markets in the Middle East, North Africa, South Asia and Europe, facilitating international trade operations.
• Advanced infrastructure: Dubai also has an advanced infrastructure that includes international airports, crowded sea ports, and an advanced network of roads and public transportation, which facilitates movement and trade.
• Cultural and linguistic diversity: Dubai is considered a multicultural and multinational center, providing a diverse and open environment that facilitates the process of communication and cooperation.
• Advanced legal legislation: Dubai also adopts advanced and transparent laws and legal regulations that protect the rights of investors and ensure efficient company establishment procedures.
• Modern business facilities: Modern facilities such as luxury offices, co-working spaces, upscale shopping malls, and international hotels are also available in Dubai, making it easier for businessmen to establish and operate their companies with ease and comfort.

Your company in Dubai

At the conclusion of this article, we can conclude that establishing a company in Dubai in cooperation with Itqan Company is a promising and smart option for those wishing to benefit from the potential of the dynamic business market in the region. By following the specified steps and benefiting from the support and assistance provided by Itqan, contractors and businessmen can overcome challenges and achieve success in their operations.

Itqan Company provides the necessary experience and knowledge to deal with the legal, financial and administrative procedures related to establishing a company in Dubai. The company provides support in determining the appropriate organizational structure, provides advice in choosing the appropriate type of company, facilitates the licensing and registration process, and provides the necessary infrastructure for the company.

By utilizing Etqan’s services, entrepreneurs can focus on their core activities and growth strategies, while Etqan handles the administrative and legal aspects. This cooperation helps save time and effort and reduces potential risks in the establishment process.

Moreover, establishing the company in Dubai with Itqan  provides investors with great opportunities for growth and expansion in the Middle East, North Africa and South Asia market. Dubai has advanced infrastructure, a favorable business environment and a strategic geographical location, making it an ideal destination for global business.

The most frequently asked questions about establishing a company in Dubai