Many people want to start a new company in Dubai, but they are not sure how. This blog post will walk you through the process of establishing your office and setting up a Company Formation in Dubai.
Location Selection for Your Office. Dubai is a great place to start your company, with its many companies already running successful businesses in the country. You can even get your office space rent-free if you agree to hire local employees and provide training them!
Registering Your Company. Once you have a location in mind, the next step is to register your company with Dubai’s Department of Economic Development (DED). You can do this yourself or hire an experienced registered agent. Who will guide you through the process and handle all necessary paperwork for a fee.
Securing Your Business Licenses and Permits. You will need several different licenses to operate your Business Formation in Dubai, including a general trading license (GT), closed-ended investment company licence (CEIC) for companies with foreign shareholders, work permit visa (WPV). If you plan on hiring employees, free zone operating licence (FZOL), and a service licence.
Preparing Your Company for Its First Year. Once you have your company registered, you will need to start hiring employees, setting up the office space with furniture and fixtures, licensing all necessary equipment (computers, printers) etc. Getting internet installed at the right speed for business use, and much more.
Expanding Your Company in the Future. Once you have your company up and running, it is important to take time out every now and then for a strategic planning session with your business partners so that everyone knows what they are doing from day-to-day. You should also keep an eye on your competitors and see what you can do to improve your own company.
Closing Your Business. If you decide that running a business formation in Dubai is not for you, then the final step of the process is closing it down before transferring all assets to another owner or just shutting everything down and walking away from those losses as well.
Additional Resources. There are many resources online that can help you with your business registration. Such as the Dubai Chamber of Commerce and Industry (DCCI), Du’s DED website, etc. Other websites also offer additional advice on how to register a company in Dubai so make sure to do some research before going ahead with the process.
Additional Resources. If you need any help or guidance along the way, feel free to contact us at Dubai Business Advisors and we will be happy to assist you in setting up your new Dubai company!