Dubai has become one of the prime locations for businesses in the world. Setting up a business in Dubai Mainland has become a common selection among investors and entrepreneurs. The abundant possibilities Dubai offers are attracting people to it.
The Dubai Mainland company formation has to be done with the Department Of Economy and Tourism and will be able to perform business activities within Dubai, U.A.E. as well as Internationally.
There are several steps involved in setting up a mainland company in Dubai, also it should comply with the rules and regulations of the government. The following are the steps:
- Deciding the business venture: In Dubai there are six different types of licenses namely Industrial, Commercial, Professional, Tourism, Agriculture, and Occupational License. So, determining the business activity serves as the basis for selecting the legal structure and the license type. You can visit consultant in Dubai for Professional advice.
- Approval of trade name: Selecting a trade name could be a bit challenging as it has to follow certain rules set by the government.
- Legal structure: The ownership of the company, the number of shareholders, all are decided by the legal structure you choose.
- Obtain Initial Approval for the Trade License: Once you’ve finalized the business activity, and approved the trade name, the next stage is where the time has come to apply for the license. To acquire the license, you have to submit all the necessary documents to the Department Of Economy and Tourism (DET) in Dubai. You can also refer Trade License In Dubai for more information.
- Renting office space: For the function of the business, it must have a physical address. The location and premises of the business should adhere to the protocols stipulated by the Department Of Economy and Tourism in Dubai. For other emirates of UAE, the applicant has to follow the rules and regulations governed by the below authorities.
- Abu Dhabi – Department of Economic Development
- Sharjah – Economic Development Department
- Ajman – Department of Economic Development
- Umm Al Quwain – Department of Economic Development
- Ras Al Khaimah – Department of Economic Development
- Fujairah – Fujairah Municipality
- For an office space requirement, you have to sign a contract with the landlord and you will have to register the same with Ejari.
- Get external approval from various departments i.e. Dubai Municipality, S.I.R.A. (Security Industry Regulatory Agency) only if it’s required, as per the Business Activity chosen by the applicant
- Open bank account
General Facts about the Mainland Company Formation in Dubai
- For an investment or Business it is possible to engage in several business activities.
- In the UAE, over 2000 business activities are available for investors and entrepreneurs to select.
- There is no direct visa restriction for a company formed in Dubai mainland, for every 9 square meters of office space, one visa can be applied, and the number of visas that can be obtained increases as the space of the office, i.e the bigger the office space, the more the visas can be acquired.
- Attestation of MOAs and agreements are performed by the UAE law firms, Courts, and Notaries.
Benefits Involved by Forming a Mainland Business Setup in Dubai
Dubai mainland offers the perks of opting a prominent location for your Company from a wide range. The most favored areas are – Sheikh Zayed road, Business bay, Deira, Al Qouz, Jumeirah, Al Qusais to name a few.
There are many advantages involved in forming a business setup in Dubai mainland they are;
- Flexibility to select any spot according to your requirement in Dubai.
- Mainland companies benefit from reasonable office spaces as they are not limited to specific locations.
- Possible to enjoy tax free status.
- Customer reach across the globe.
- A Dubai DET license is the ideal choice, if expanding the branch of a start up is the key goal. With these you get the flexibility to expand your business to other areas within Dubai and throughout the UAE.
- With a mainland license, businesses are free to work with UAE mainland companies, local customers, and engage with the government bodies.
Prerequisites For Dubai Mainland Company Formation
Selection of the business activities, confirmation of the name, initial Approval, Memorandum of Association (Partnership Agreement and Objectives of the company), Work space and Tenancy contract, Final submission letter and collate all the records for the mainland company formation in Dubai.
Above mentioned are the requirements and information that should be taken care of before setting up the business in Dubai mainland. Golden Fortune can help to guide in all the stages of the project which could save cost and time. Contact us for guidance and support.