Establishing a private company in Dubai

Establishing a private company in Dubai can be a strategic investment step to expand into the Middle East market and take advantage of the trade and economic opportunities available in this vibrant city. Here is an overview of the basic steps for setting up a company in Dubai :

1. Market study and planning: Before starting to establish the company, an extensive study of the market must be conducted and the available business opportunities, competition and needs of potential customers must be identified. A detailed business plan should also be developed that includes objectives, strategies, required financing and a marketing plan.
2. Choosing the type of company: The type of company you want to establish depends on many factors, including expected business size, licensing requirements, and financial responsibility. You can choose between an LLC, partnership, sole proprietorship, or craft, depending on your needs and goals.
3. Company name and registration: You must choose a unique and appropriate name for the company and ensure its availability. The name must be registered with the Dubai Department of Economic Development, submit the required documents and pay the applicable fees.
4. Obtaining licenses: Appropriate licenses, legal and regulatory approvals must be obtained to establish the company in Dubai. These licenses may include a public company license, a profession license, or a craft company license, and these licenses are obtained from the relevant authorities such as the Department of Economic Development.
5. Capital and bank account: The capital necessary to establish the company must be determined and transferred to an approved bank account in Dubai. The minimum capital requirements required for the chosen company type must be adhered to.
6. Contracts and Legal Documents: Contracts and legal documents necessary to establish the company must be prepared and signed, such as partner contracts, lease contracts, and other agreements. Unfortunately, I cannot provide more information about establishing a company in Dubai, as the specific information and legal procedures are constantly changing and subject to legal and regulatory developments. Therefore, it is preferable to consult official sources, consult with legal experts, or consult with Itqan Company, specialists in establishing companies in Dubai, to obtain the most up-to-date and accurate information and guidance.

Laws that must be adhered to in order to establish a private company in Dubai

Establishing a private company in Dubai requires compliance with a number of local laws and regulations. Here are some main laws that must be adhered to:

• UAE Companies Law: This law regulates the establishment, management, and operation of companies in the UAE, and specifies the types of companies allowed, the requirements for their formation, and the duties of shareholders and managers.
• UAE Labor Law: This law defines the rights and duties of workers and employers in the UAE, including conditions of employment, leave, wages, working hours, and occupational safety and health.
• UAE Intellectual Property Law: This law protects intellectual property rights such as patents, trademarks, copyrights, and industrial designs, and regulates registration procedures and rights protection.
• Tax Law: Companies in Dubai are subject to local tax laws, and companies must register for taxes if they are required to do so and commit to submitting the required tax reports and declarations.
• Private sector laws: There may be laws and regulations specific to some economic sectors, such as construction, real estate, and food industries, and they must be adhered to if they apply to the company’s activity.
• Rent and real estate laws: If a company needs an office or work space, local laws regarding rent and real estate must be adhered to.

These are some laws that must be adhered to in order to establish a company in Dubai , and it is important to obtain local legal advice to ensure full compliance with local legislation and regulations.

Permits required to operate a business in Dubai

The permits required to operate a business in Dubai depend on the type of commercial and industrial activity undertaken by the individual or company. Here are some common permits that may be required:

1. General Business License: This license allows a variety of commercial activities, such as retail, services, and manufacturing.
2. Professional license: This license allows individuals to practice a specific profession or work as an independent in a specific field, such as medicine, engineering, or law.
3. Industrial license: This license allows companies to operate and manage factories and industrial facilities.
4. Tourist license: This license allows the practice of commercial activities related to tourism and hospitality, such as hotels, restaurants, and travel agencies.
5. Commercial license in free zones: This license allows companies to benefit from the tax and customs privileges available in free zones, such as Jebel Ali and the Food Basin area.
6. Building and construction permits: If the works require building or constructing new buildings, the required permits must be obtained from the relevant authorities.
7. Advertising and outdoor advertising permits: If the works include advertisements or outdoor displays, the required permits must be obtained from Dubai Municipality.

Individuals and companies wishing to operate business in Dubai should check applicable local laws and legislation and communicate with relevant authorities to obtain accurate information about the permits required for their specific business activity.

 

Fees for establishing a private company in Dubai

Fees for establishing a company in Dubai vary depending on the type of company and services required, and may include at least the following elements:

1. Registration fees: Includes fees for registering the company and documenting the necessary documents for its establishment.
2. Virtual Office Fees: If you need a virtual office or shared office for your company, there may be a monthly or annual fee for this service.
3. Legal services fees: If legal assistance is needed to establish the company, this service may involve fees.
4. License fees: These fees include the costs of obtaining business licenses for the company.
5. Management fees: include fees paid to government agencies to issue the necessary permits and licenses to establish the company.
6. Physical office fees: If you need a physical office for the company, you may need to pay office rental fees and associated service fees.

Please note that the above fees may vary depending on the type, size of company and services required, and it is recommended to check the exact requirements and fees for each specific case before starting the incorporation process.

Investment benefits of establishing a private company in Dubai

Establishing a company in Dubai can provide many investment benefits, including:

• A distinguished investment destination: Dubai is considered one of the most important economic and commercial destinations in the world, providing great opportunities for growth and expansion for new companies.
• Advanced infrastructure: Dubai has an advanced infrastructure that includes modern and advanced facilities. This facilitates production and distribution operations and reduces operational costs.
• Open investment laws: Dubai is characterized by flexible and open investment laws that encourage investment and allow the establishment of companies easily and flexibly.
• International Business Center: A company in Dubai can benefit from access to regional and international markets due to its distinguished geographical location and advanced transportation and shipping facilities.
• Strategic Vision: Dubai adopts an ambitious strategic vision that aims to enhance the knowledge and technology economy, stimulate innovation, and enhance competitiveness.
• Stable government environment: Dubai is characterized by a stable and business-friendly government environment that promotes investment and facilitates operational procedures.
• Financial Freedom: Investors in Dubai enjoy great financial freedom, as the emirate does not impose taxes on profits or personal income.
• Diverse workforce: Companies in Dubai can benefit from a diverse, multinational and multicultural workforce, which contributes to promoting cultural exchange and innovation.
• Effective regulatory structure: Dubai is characterized by an effective regulatory structure and a transparent legal system that provides protection for investors’ rights and enhances confidence in the market.
• Diverse investment opportunities: Dubai has various investment opportunities in different fields such as real estate, technology, tourism, industry, and financial services, which provides great opportunities for new companies to achieve growth and profitability.

Learn about establishing a private company in Dubai

In conclusion, it can be said that establishing a company in Dubai represents an exciting and promising opportunity for success and growth in the global business market. With Itqan as a reliable consulting partner, you can benefit from their deep experience and knowledge of the business environment in Dubai.

Itqan Company provides specialized and multiple services that help you in all aspects of establishing your company in Dubai. Whether you need assistance in studying the market and developing strategic plans, in licensing and registration procedures, or in capital arrangements and bank accounts, the Itqan team is specialized and committed to providing comprehensive support and professional advice to ensure that your goals are successfully achieved.

By using Itqan services, you can save the time, effort and resources necessary to establish your company in Dubai in an efficient and organized manner. You can rely on Itqan experts to guide you through all the required procedures and to provide customized consultations that meet your individual needs.

In short, establishing private companies in Dubai is an important and exciting challenge, but with Itqan as a consulting partner, you can benefit from experience and deep knowledge to ensure your success. Start your journey in the world of entrepreneurship in Dubai with Itqan and prepare to achieve success and prosperity in this amazing city.

Frequently asked questions about establishing a private company in Dubai