Dubai is one of the world’s leading destinations for investment and trade, making it an ideal choice for establishing a company. Establishing a company in Dubai requires following specific steps and procedures that ensure the company’s compliance with local laws and benefit from the facilities provided by the country. In this article, we will review the basic steps and procedures required to establish a company in Dubai , including choosing the type of company, obtaining the appropriate license, and registering the company with the relevant government authorities. We will also discuss how to choose the ideal location and the advantages of free zones that provide special facilities for investors. Our goal is to provide a comprehensive guide that will help you start your business journey successfully in the city of Dubai.

Establishing a company in Dubai through Itqan Company

Establishing a company in Dubai through Etqan provides investors with a smooth and comprehensive experience that ensures compliance with all local laws and regulations. Etqan is a leading company formation services provider, offering integrated solutions that cover every stage of the establishment process. Starting from providing legal advice and determining the type and activity of the company, to managing all administrative procedures such as obtaining the required licenses and registering the company with government agencies. Etqan also provides advanced services in choosing the appropriate location for the company’s office and providing flexible rental solutions. Etqan also facilitates the process of opening bank accounts and provides full support in recruitment and obtaining work visas. With Etqan, investors receive specialized advice and accurate guidance to ensure their compliance with legal requirements and ensure a successful start to their business in Dubai. With its in-depth experience and extensive knowledge of the local market, Etqan helps speed up the establishment process and saves time and effort, making it an ideal choice for investors looking to enter the Dubai market with ease and efficiency.

In addition, Itqan provides comprehensive support in other areas such as preparing and notarizing legal documents, ensuring that all official requirements are met. Itqan also helps companies understand and apply local financial and tax regulations correctly, which helps avoid any legal or regulatory issues. Itqan allows investors to focus on developing their business instead of dealing with complex bureaucratic transactions, which enhances the chances of success for new companies in Dubai. By providing comprehensive and customized services, Itqan contributes to facilitating the establishment steps and providing innovative solutions that suit the needs of each client, making it an important strategic partner in the journey of establishing companies in one of the most dynamic markets in the world.

Steps and procedures for establishing a company in Dubai

Establishing a company in Dubai requires following specific steps to ensure compliance with local laws and achieve business success. Here are the basic steps to establish a company in Dubai:

Determine the type of company and its activity:

Choose the type of company that best suits your business objectives, whether it is a limited liability company (LLC), a private joint stock company, or a branch of a foreign company. Determine the business activity you will be conducting, as this affects the type of license required.
In addition to choosing a trade name that is consistent with the activities the company will be conducting, make sure it is compliant with local laws and is not already registered.

Obtaining initial approvals:

Apply for initial approvals from the Department of Economic Development (DED) in Dubai. These approvals include confirmation of the trade name and business activity. Rent an office or premises for the company, as you must have a physical business address in Dubai to register your company.

Preparing legal documents:

Prepare the necessary documents, such as the articles of association, lease agreement, and passports. You may need to have some documents notarized by a notary public. The application for obtaining a license is also submitted where you apply for a commercial license from the Department of Economic Development. With obtaining different types of licenses such as a commercial license, industrial license, and tourism license.

Open a company bank account

Open a bank account in the company’s name. This may require an initial deposit depending on the type of business. Work on registering the company with government agencies Register the company with various government agencies, such as the Dubai Chamber of Commerce and Industry, and obtain the necessary licenses and approvals.

Obtaining a facility registration card

Apply for an establishment registration card from the Federal Authority for Identity and Citizenship. Recruit and register workers Recruit and register workers according to Dubai labor laws, and apply for work visas for employees. By following these steps, you will be able to successfully establish your company in Dubai and ensure that you comply with all legal requirements.

The specific period for establishing a company in Dubai

The specific time frame for establishing a company in Dubai depends on several factors, including the type of company, the type of license, and the procedures followed. In general, the time frame can be divided into main stages:

• Initial procedures (1-2 weeks): This involves choosing a trade name and obtaining initial approvals from the Department of Economic Development (DED). This stage can take anywhere from a few days to two weeks, depending on the speed of obtaining approvals and details related to the name and business activity.
• Office Rental and Document Preparation (1-2 weeks): Rent an office or workspace and prepare legal documents such as the Articles of Association. This stage may take 1-2 weeks, depending on how quickly the lease is reached and the required documents are completed.
• Obtaining a license and registration (1-3 weeks): Submit an application for a business license and company registration with government agencies. This may take 1-3 weeks, depending on the type of license, business activity, and processing speed of applications.
• Bank Account Opening and Other Procedures (1-2 weeks): Opening a company bank account and additional procedures such as obtaining work visas if required. This step may take an additional 1-2 weeks.
  In general, the total period of company formation in Dubai can range from around 4 to 8 weeks. However, this period can be affected by several factors such as the speed of submission of documents, the type of company, and the efficiency of dealing with government procedures.

Advantages of establishing a company in Dubai

Establishing a company in Dubai has many advantages that make it an attractive destination for investors and businessmen. Here are some of the main advantages:

• Dubai offers a flexible and business-friendly business environment, making it easy to start and operate businesses with a high level of efficiency.
• Dubai is strategically located between East and West, facilitating access to multiple markets in Asia, Africa and Europe.
• Dubai offers attractive tax breaks, including no corporate tax on profits in most free zones , which reduces operating costs.
• In free zones, foreigners can own 100% of the company’s shares without the need for a local partner, providing more complete control over the business.
• Dubai offers a sophisticated infrastructure including world-class ports and airports, facilitating trade and logistics.
• The procedures for setting up companies in Dubai are usually smooth and quick, with support from government agencies to facilitate registration processes.
• Dubai offers diverse opportunities for growth and investment in multiple sectors such as technology, tourism, real estate, and financial services.
• Dubai is committed to modern and transparent commercial laws that protect the rights of investors and ensure legal justice.
• Dubai offers various incentives such as customs exemptions, ease of obtaining work visas, and support for innovation projects.
• Dubai enjoys a high level of security and political and social stability, providing a safe environment for business.
  These advantages make Dubai a preferred destination for many investors and international companies wishing to expand and increase their activity in the Middle East region.

Cost Factors of Company Formation in Dubai

The cost of setting up a company in Dubai depends on several key factors that can significantly impact the total expenses. Here are some of the factors that determine the cost of setting up a company in Dubai:

1. Company Type: The type of company you choose (such as a limited liability company (LLC), private equity company, or branch of a foreign company) affects the cost. LLCs may require higher costs due to different incorporation requirements.
2. Type of License: The cost of the license depends on the type of business activity. Commercial, industrial, and tourism licenses have different costs.
3. Location and Office: Renting an office in Dubai can have a significant impact on the cost, depending on the location and type of office (virtual office, small office, or larger office space).
4. Government fees: Government fees include costs for registration, obtaining and renewing licenses, as well as fees related to notary services and certifications.
5. Recruitment costs: Recruitment costs include employee wages, work visa fees, and health insurance costs. These costs can vary depending on the number and type of employees.
6. Rent and Insurance: Rental costs depend on the location and size of the office. Additionally, hazard insurance and property insurance may be part of the costs.
7. Legal Consultations and Services: The cost of legal and accounting consultations may vary depending on the size of the company and the complexity of the legal and financial matters.
8. Bank Account Opening Fees: Opening a business bank account may require an initial deposit and bank fees. Some banks may charge fees for business banking services.
9. Translation and Notarization Services Costs: If documents need to be translated or notarized, there may be additional costs for these services.
10. Marketing and Promotion Costs: When starting out, you may need to invest in marketing and promotion to attract customers and increase brand awareness. Costs vary depending on the size and nature of the business, so it is essential to conduct a detailed feasibility study and a comprehensive estimate of potential costs before starting the process.

In conclusion, setting up a company in Dubai is a great opportunity for investors and entrepreneurs looking to benefit from a dynamic and thriving business environment. Dubai’s strategic location, business facilities, and favorable tax regime make it an attractive destination for starting a business. Although the incorporation process involves several steps and procedures, proper guidance and advance planning can help speed up the process and ensure compliance with all legal requirements. By availing the services of specialized companies such as Itqan, investors can minimize the complexities and challenges associated with setting up a company and receive comprehensive support to ensure the success of their projects. With its opportunities and facilities, Dubai remains an ideal choice for anyone seeking growth and innovation in the business world.