The Steps for Business Business Set Up Dubai MainlandBusiness Setup Dubai Mainland
can be a bit overwhelming for you if you are new to the Dubai company formation scene. It is a bit complicated compared to forming a company in the Free Zones. To begin with, you will need to deal with all the legal and administrative procedures, apart from the skill to run a successful business in the UAE marketplace. Here in this article, we would take a look at some of the things that you need to do when you are going for business setup Dubai mainland.
STEPS FOR BUSINESS SETUP DUBAI MAINLAND
- Get a local sponsor
For business setup Dubai mainland, you will need a UAE national to be your local sponsor. The local sponsor will own 51% of the business shares while the remaining 49% ownership of the shares would be with you. Local shareholders may not invest anything in your company but will still be a legal owner of majority of the shares. However, the expatriate partner can be the managing partner of the company and hold complete control over the operations. Sponsors may not be involved with the day to day activities of the company. If you want to go for professional firm formation, then you are allowed to own the firm 100% but a sponsor – knowing local service agent (LSA) is still a requirement.
- Register with the DED
The Department of Economic Development (DED) is the main regulatory body for business setup Dubai mainland. They are responsible for the economic growth in Dubai and they achieve this by developing economic policies and regulations, identifying the potential growth sectors and providing efficient services to local and international investors. They are the business registration and license issuing authority of the Dubai Mainland Business. They are also responsible for commercial compliance and consumer protection. You need to register your business with the DED for business setup Dubai mainland
- Get your business address verified
The Dubai Municipality needs to verify your office address. The required office space varies depending on the license type, and it is the tenant’s responsibility to ensure that the tenancy contract and Ejariare in place before applying for a business license.
If you aren’t sure of the processes of business setup Dubai Mainland or find it too tricky, it is always good to take the help of a professional business consultant in Dubai to ensure the legal issues are handled carefully.
Here is a quick look at the steps for business setup Dubai mainland:
- Select the right business activity and legal type that suits your business
- Select a local partner or a local service agent
- Get the initial approval for name and business activity
- Get the MOA/Agreement notarized
- Choose the office space and get the contract of tenancy
- Obtain any other additional approval (if required)
- Final submission of for a license