Company Setup in Dubai

The Department of Economic Development, with the institutional support from the Dubai Chamber of Commerce & Industry, is the statutory body that regulates and controls the licensing procedures for business setup services in Dubai or Company Formation in Dubai. It was formed to organize and activate industry as well as internal and external trade in the Musthafa Abdul Hameed Auditing of Accounts and prepare studies relating to industrial and commercial activities. New business Setup or Company Formation in Dubai is now a hassle-free process than ever.

What are the different types of Licenses issued while setting up a business in Dubai?

1. Trade License

Trade license is issued to a natural or juridical person for start-ups in Dubai to practice any trading activity for the purpose of profit making through buying and selling of goods. For new business set up these kind of licenses are issued for engaging wholesale or retail trade enterprises, contractors, hotels, transport and storing establishments etc., A Trading License can be a General Trading or Specific Trading. A specific trading license limits the scope of activities to trade in only closely related items. [For e.g. a company cannot trade in building materials, if its licensed activity is trading in computer peripherals.

2. Industrial License

An industrial license is issued to a natural or juridical person to start-ups in Dubai who choose to practice any investment activity, the object of which is to discover natural resources or transform raw materials in terms of its structure or appearance into manufactured products or to transform the semi-manufactured products into fully manufactured products by using mechanical power and segregate the products, filling, assembling or packing them.

3. Professional License

A professional license is issued to a natural or juridical person to form a new business set up in Dubai and practice any profession in which he depends on his physical or mental efforts rather than depending on a cash capital. This license is issued for start-ups in Dubai to practice certain professions such as engineering consultancy, other consultancy services and studies, auditing and accounting, business set up, company formation, medical and educational services and similar services.

Some of the business activities require approvals from the government bodies other than Dubai DED. A few examples of some of the activities that require approvals from the government bodies are as listed below:

What are benefits of starting a business in Dubai?

U.A.E. offers incoming businesses & start-ups in Dubai with all the advantages of a highly developed economy. The infrastructure and services match the highest international standards, facilitating efficiency, quality and service. Among the benefits are:

• Free enterprise system.
• Highly developed transport infrastructure.
• State-of-the-art telecommunications
• Sophisticated financial and services sector.
• Top international exhibition and conference venue.
• High quality office and residential accommodation
• Reliable power, utilities etc.
• First class hotels, hospitals, schools, shops etc. Cosmopolitan lifestyle

How will Musthafa Abdul Hameed Auditing of Accounts provide business setup services in Dubai?

• Review all the essential requirements of your business activities to suggest the best license where you can open your Company in the UAE mainland.
• Support you in strategizing your business plan.
• Assistance in preparing the application form which has to be submitted to the DED.
• Getting your trade name approval, Initial Approval and security approval
• Attesting the legal documents from the concerned department of the authorities for corporate clients.
• Drafting the MOA of the company.
• Proper guidance while selecting the ware house/s or offices.
• Support and guidance for E – channel registration and obtaining the establishment card.
• Assistance for opening your company bank account/s and personal bank account.
• Visa assistance for employees as well as investors.
• Selection of suitable employees for your new formed company
• Proper guidance while appointing an auditor, as having an auditor is a compliance requirement for free zone companies.
• VAT Compliance and Advisory support for VAT Registration | VAT Implementation | VAT Return Filing
• Provisions for Accounting & Book Keeping services
• Support for Company Liquidation
• To add or remove existing shareholder or Director
• To change the trade name of the company.
• To produce additional company documentation (Certificate of Incumbency, Certificate of Good Standing, etc.)
• To increase or decrease your company share capital

Setting up a business in Dubai is an excellent way to rightfully gain international profits. Musthafa Abdul Hameed Auditing of Accounts provide clients with licensing support to set up their businesses in Dubai, UAE by providing strategic recommendations and negotiations with local stakeholder along with documentation formalities.