Due to the facilities and opportunities provided by the Dubai government to investors, many foreigners are racing for establishing a company in Dubai, especially after the possibility of owning a company with 100% ownership without the need for a partnership with an Emirati national was introduced. There are also institutions that assist you in completing all the procedures for company formation without any hassle, and one of the most well-known is Tasyeir Company.
Establishing a company in Dubai for foreigners
There are many advantages provided by the laws for any foreign investor who wants to start a company in the United Arab Emirates in general, and in Dubai in particular.
Dubai has become a beacon of investment in the world, attracting entrepreneurs from all over.
This is due to the facilities and privileges it offers, including the absence of taxes, which contributes to the establishment of a large number of companies and more.
Advantages of establishing a company in Dubai for foreigners
In addition to the high standard of living offered by the Emirate of Dubai, there are many privileges you can enjoy when establishing a company or investing in Dubai in general, making it a dream destination where everyone aspires to settle.
Some of the key advantages include:
- Investment in Dubai provides you with excellent opportunities for growth and expansion, as it is situated between East and West, attracting a large number of foreign investors from around the world, which opens up new horizons for you.
- Dubai continually adjusts its policies and economic laws to be in favor of investors. As a result, you will find a strong infrastructure that provides you with numerous advantages.
- As well as, the tax rate imposed on businesses does not exceed 5%, offering a favorable tax environment for companies.
- Dubai offers a large number of free zones that grant investors privileges they won’t find elsewhere, with tax rates reaching 0%.
- You can fully own the company you establish without the need for a local sponsor or partner.
These advantages make Dubai an attractive destination for foreign investors looking to establish their own company.
Papers required for establishing a company in Dubai for foreigners
If you are not a UAE citizen, there are certain documents that need to be obtained in order to obtain an investor visa and subsequently establish a company for foreigners in Dubai. These documents include:
- Copy of the passport belonging to the company owner.
- Passport-sized photograph with a white background.
- As well as, copy and original of your company’s Memorandum of Association.
- Valid commercial license.
- Disclosure of the names of partners, if applicable.
- Company bank account statement for the last three months.
- As well as, copy of the company’s Articles of Association.
These documents are necessary for the process of establishing a company in Dubai for foreigners.
Steps of establishing a company in Dubai for foreigners
Despite the abundance of opportunities and facilitations in Dubai, there are several steps that need to be followed in order to establish a company for foreigners in Dubai.
These steps include:
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Registering the commercial name:
Every new company must have a specific name.
As part of the company establishment process, you need to register the desired trade name.
However, it is important to ensure that the name is suitable for the company’s activities and does not conflict with existing trade names.
You can issue the commercial name by visiting the Dubai Department of Economic Development or through their online portal.
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Determining the type of business activity:
One of the first steps in starting any project is to determine the desired business activity.
Dubai offers a wide range of business activities, with over two thousand activities specified in the Commercial Activities List.
You can choose the activity that suits your company, and it is necessary to determine the type of license from the available options in Dubai.
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Obtaining preliminary approval:
Before proceeding with the requirements and steps to issue the commercial license, you need to obtain preliminary approval from the relevant authorities in Dubai for establishing your project.
Obtaining preliminary approval is one of the crucial steps.
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Legal form of the company:
Dubai has various legal forms for companies, each with its own rules and regulations.
You need to choose the appropriate legal form before establishing a company for foreigners in Dubai.
Some of the available legal forms include:
- Branch of a foreign company.
- Branch of a local company.
- Branch of a Gulf company.
- Holding company.
- Free zone branch.
- Limited Liability Company.
- Sole Proprietorship.
- Representative Office.
- Public Joint Stock Company.
- Private Joint Stock Company.
- Civil Works Company.
- Recommendation Company.
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Choosing the company’s location:
Each business activity has specific requirements that should be considered when choosing the location for your company.
This should be in accordance with the regulations set by the Dubai Department of Economic Development. As part of the company establishment process, you need to provide a detailed address for the company’s location along with proof of ownership.
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Issuing the Memorandum of Association:
Certain types of business activities require special procedures, such as notarizing the Memorandum of Association in one of the courts in the UAE or engaging a legal translator. This applies to legal forms such as:
- Recommendation Company.
- Sole Proprietorship.
- Simple Recommendation Company.
- Civil Works.
- Private Joint Stock Company.
- Public Joint Stock Company.
- Limited Liability Company.
Some other legal forms may require an agreement with a service agent.
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Issuing the license:
After completing all the procedures and previous steps, you can obtain the trade license for your company and start working legally.
You can collect the license from the designated office of the Economic Department in Dubai.
Additional approvals in Dubai
In addition to the required documents and basic conditions for obtaining a work license to establish a company for foreigners in Dubai, there are some additional approvals that you need to obtain from the relevant authorities in certain cases.
These include:
- If your business field involves legal consultancy, you need to obtain approval from the Ministry of Justice.
- If you are engaged in petroleum extraction and drilling, you need to obtain approval from the Supreme Petroleum Council.
- As well as, If you are involved in the following activities, you need to obtain a license from the Ministry of Interior:
- Public transportation services.
- Driving school.
- Sale and rental of used cars.
- Firefighting.
- Specialized company in alarm systems.
- If you operate in the following fields, you need to obtain approval from the Executive Council:
- Ship agencies.
- Car clubs.
- Branch of a foreign company.
- General services.
- Air transport.
- Trading Charter.
- Tourism.
- As well as, If your business field is related to insurance consultancy, you need to obtain approval from the Ministry of Economy before starting your work.
- If you work in the telecommunications sector, you must obtain approval from the Telecommunications Regulatory Authority.
- As well as, If you intend to establish a hospital or any healthcare facility, you need to obtain approval from the Health Authority.
- If you work in the field of architecture and related services, you must obtain approval from the Municipality Department.
Tasyeir services to establish company in Dubai
Tasyeir Company offers a wide range of services that are essential for any investor looking to establish a new company.
These services greatly contribute to ensuring the company achieves the highest levels of success in its field of operation.
Some of the prominent services include:
- Facilitating the process of obtaining licenses and necessary documents for company establishment.
- As well as, providing clients with sufficient information from specialized experts.
- An integrated team working across various departments.
- As well as, achieving customer requests in a timely manner.
- Delivering exceptional services at the best possible price.
- Providing all necessary tax and other related consultations to clients.
Tasyeir is your ideal destination
We have mentioned all the steps involved in establishing a company in Dubai for foreigners, as there are numerous opportunities offered by Tasyeir to help you expand significantly in your business field. However, to start off correctly, it is crucial to seek the assistance of experts in company formation, such as Tasyeir Company. They provide you with all the necessary information to enable you to progress steadily and achieve your goals as quickly as possible.
