Basic steps to open a company in Dubai

Dubai, a city with a strategic location and an attractive business environment, is an ideal destination for launching new projects and companies. Thanks to the supportive legislation and incentives provided by the Dubai government, establishing a company in this emirate has become a promising investment option for foreign investors. By cooperating with a specialized consulting company such as Itqan, investors can benefit from the experience and support necessary to facilitate the process of establishing and operating in this prestigious market. Basic steps to open a company in Dubai :

• Choosing the appropriate legal form: The investor must determine the most appropriate legal form for his company, whether it is a limited liability company, a public joint stock company, or other available forms. Itqan Company provides the necessary legal advice to make this decision.
• Completion of incorporation and licensing procedures: After choosing the legal form, the procedures for establishing the company are completed and the required licenses are obtained from the relevant authorities in Dubai. Itqan helps organize this process and ensure its speedy completion.
• Managing financial requirements and human resources: The financial aspects of the company must be settled, including opening bank accounts and preparing estimated budgets. Key employees must also be appointed and the company’s human resources organized. Itqan provides support in these areas as well.
• Ongoing Regulatory Compliance: After establishing a company, you must adhere to regulatory requirements and comply with applicable laws and regulations in Dubai. Itqan helps ensure the company’s ongoing compliance.

By providing these integrated advisory services, Itqan helps foreign investors establish their companies in Dubai smoothly and efficiently, enabling them to focus on growing and developing their businesses in this thriving market.

Types of business licenses available in Dubai

Dubai, the leading emirate in facilitating business and investment activities, offers a variety of business licenses to meet the needs of local and foreign investors alike. This diversity in types of licenses enables projects to choose the option most appropriate to the nature of their activity and achieve their expansion goals in the local and regional market. Types of business licenses available in Dubai:

• General Commercial License: This is the basic license that allows companies to practice a wide range of commercial and economic activities within the Emirate of Dubai.
• Professional license: This license is granted to specialized professions and services such as law, engineering, medicine, and accounting.
• Industrial license: Granted to manufacturing and production companies to enable them to carry out their activities within the emirate.
• Tourism license: Granted to projects operating in the tourism and hospitality sector, such as hotels, restaurants, and tourism agencies.
• Free license: It is a special type of license available in free zones in Dubai, such as Dubai Media City and the Dubai International Financial Centre.
• Electronic Activities License: Granted to companies working in the field of technology and digital activities.

These licenses are granted by the competent regulatory authorities in Dubai, such as the Department of Economic Development and the Department of Tourism and Commerce Marketing, based on the nature of the company’s commercial activity. These licenses are granted to both foreign and local investors.

Documents required to open a company in Dubai

When wanting to establish a company in Dubai, it is necessary to complete a set of documents and documents necessary to obtain the appropriate trade license. This process is transparent and simple in its procedures, and Dubai is considered one of the world’s leading destinations in the ease of doing business. Documents required to open a company in Dubai :

• Passport copy: A valid passport copy must be submitted for each partner or shareholder in the company.
• A copy of the Emirates ID: For Emirati citizens, a copy of the Emirates ID must be presented.
• Criminal record certificate: A valid criminal record certificate must be submitted for each partner or shareholder.
• Letter of Intent: A letter of intent is a basic document that defines the business activities of a company and explains the reasons and objectives behind its establishment.
• Company Articles of Association: This contract specifies the legal structure of the company, the nature of ownership, and the rights and duties of the partners.
• Financial Clearance Certificate: A clear financial liability certificate must be submitted from the Finance Department for each partner or shareholder.
• Certificate of Ownership: If the company will rent an office or headquarters, a certificate of ownership or lease contract must be submitted.

After completing these documents, you can apply to obtain the appropriate commercial license from the competent authorities in the Emirate of Dubai.

Top tips for opening a company in Dubai

Dubai is considered one of the most attractive destinations in the world for setting up a business. The emirate has a favorable business environment and quick and easy company establishment procedures. However, there are a number of important tips to consider when opening a company in Dubai to ensure the success of the project. Top tips for opening a company in Dubai:

• Choose the right business activity: Study the market carefully and determine the sector that best suits your experience and aspirations. This will help you choose the most suitable business activity.
• Determine the appropriate legal structure: Decide whether you will establish a sole proprietorship, an LLC, or a partnership. Each structure has its own advantages and limitations.
• Choose a strategic location: A company’s location has a major impact on its success. Select a suitable location near target customers and necessary infrastructure.
• Obtain the necessary licenses and permits: Make sure to obtain all required licenses and permits from the relevant government agencies.
• Provide adequate financing: Make sure you have enough capital to cover start-up and operating costs in the early stages.
• Build a network: Build a strong network with potential clients and business partners to boost your company’s growth.
• Focus on innovation and excellence: Constantly look for ways to provide added value to your customers through innovation and excellence in services or products.

By following these tips, you will be on the right track to establishing a successful company in Dubai.

Learn how to open a company in Dubai

Opening a company in Dubai represents a great opportunity for growth and success, but it does not come without extensive planning and efforts. By taking into account the previous tips, you will be able to lay a solid foundation for your company and achieve the desired success. However, it may be wise to partner with a consulting firm like Etqan to facilitate the incorporation process and ensure full compliance with local laws and regulations.

Itqan is one of the leading advisory services providers in Dubai, and has extensive experience in helping new companies establish successfully. With their cooperation, you will be able to seamlessly handle all bureaucratic procedures, including choosing the appropriate legal structure, obtaining the necessary licenses, opening bank accounts, and preparing the required documents. You will also benefit from their experience in feasibility studies, planning operational operations, and determining the estimated budget for costs and revenues.

In addition, you will receive valuable advice from the “Itqan” team on strategic location selection, preparation of an effective marketing plan, and building a strong network of relationships with clients and partners. With this, you will have what it takes to confidently launch your company and achieve success in the thriving Dubai market.

In cooperation with “Itqan” Company, you will be able to focus on what is essential for the success of your new company – which is providing high-quality services or products and meeting customer needs in a distinguished manner. This will enable you to lay a solid foundation for your business in Dubai and achieve sustainable growth in the long term.

Frequently asked questions about how to open a company in Dubai