Business Setup in UAE
Introduction
In this section, we will look at some of the key aspects of business setup in UAE.
A company needs to be registered in Dubai in order to trade there.
In order to start a business in Dubai, you need to register your company with the government. This is done by applying for a Commercial Registration Permit (CRC) and Work Permit (WP). Once these are issued, you can then apply for additional approvals from other government entities like the Ministry of Economy or Dubai Land Department.
The owners of a company setup in UAE must have a local address, which is commonly referred to as the registered office address
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The owners of a company set up in Dubai must have a local address, which is commonly referred to as the registered office address. The registered office address is where legal documents are served and where your company will be officially located. It can be anywhere in Dubai or any free zone such as Jebel Ali Free Zone (JAFZ), International Media Production Zone (IMPZ) or Dubai Sports City Free Zone (DSC).
Most companies in the United Arab Emirates must have at least one shareholder, who must be a UAE national or resident. However, there are some exceptions – for example, a government entity does not need to have any shareholders.
Most companies in the United Arab Emirates must have at least one shareholder, who must be a UAE national or resident. However, there are some exceptions – for example, a government entity does not need to have any shareholders.
Shareholders must be UAE nationals or residents and cannot be anonymous. If you are setting up a company on behalf of an individual who is not able to do so themselves (for example because they’re under 18), then your client will need to appoint someone else as their legal representative (trustee). You’ll also need their written permission before acting on their behalf.
Types of Business Licenses in UAE
There are different types of business setups and licenses in UAE, depending on whether your business is being formed as an individual or a group entity.
There are different types of business setups and licenses in Dubai, depending on whether your business is being formed as an individual or a group entity.
If you’re starting out as an individual, there are several options available to you:
- Sole trader – this type of entity allows one person to be responsible for all aspects of the company’s operations. A sole trader can operate under their own name but may also choose to use a trading name (e.g., Smith & Sons).
- Partnership – partnerships are formed by at least two people who agree to share profits and losses equally between them. Each partner contributes capital to the partnership and agrees not only to take part in running it but also to bear any losses incurred by that venture should things go wrong!
To start operating legally, you will need to apply for two forms of Professional Permits – one as an individual or partnership, known as the Work Permit; and another if you form a company that requires registration with the Ministry of Economy – known as the Commercial Registration Permit (CRP). Both Work Permits and Commercial Registration Permits may require additional approvals from other governmental entities before they can be issued by MOE.
When you are starting a business in UAE, there are two forms of Professional Permits that you will need to apply for:
- Work Permit – This is required for individuals or partnerships who wish to work in the UAE as an employee or self-employed professional. If you form a company that requires registration with the Ministry of Economy (MOE), then you also need a Commercial Registration Permit (CRP). Both Work Permits and CRPs may require additional approvals from other governmental entities before they can be issued by MOE.
Conclusion
Now that you know what it takes to business setup in UAE, it’s time to get started. If you are looking for professional assistance with your company registration or work permit application, we can help! Our expert team will make sure everything is done according to local regulations so that there are no delays or complications during the process.