Important Things You Need To Know To Start A Business In Dubai

author Post By: endeavour 03 Jun, 2021
Important Things You Need To Know To Start A Business In Dubai

Starting a business successfully in Dubai requires an adequate amount of experience and expertise. However, the UAE Government has made it a lot easier and newcomer-friendly by encouraging investment and startups in every possible way.

The most important aspect about starting a business is that most type of business, apart from a sole proprietorship, needs an Emirati partner that owns 51% of the business. Once it's sorted out, you must go through the process of registering and licensing the business. For this, you must first choose the type of company you are planning to set up and then procure the necessary license and approvals based on the nature of your business. This can be an industrial, commercial or even professional license that is required to launch your business.

As a business owner, it is crucial to know the different jurisdictions available in Dubai. Dubai jurisdictions are separated into three classes namely: Mainland, Free Zones and Offshore. 

Mainland companies can be considered as the most developed business entities in Dubai. For mainland business setup in Dubai, you must have an Emirati to be your local sponsor. The local sponsor will have 51% of the business shares while the rest of the expats will own 49% of the shares. The expat can be the managing partner of the company holding 100% of the operational powers while it is not necessary for the shareholders to invest in the company but can still hold the majority of the shares.

The next step involves choosing an appropriate company name. The name that you choose for your business should not violate public morals by any means. The name should not be previously registered by any entity and must comply with the activity and legal status of your business. Once you name the business, you need to apply for the business license. Usually, you can acquire a license from the Department of Economic Development or your local Free Zone. 

Before launching the business, you need to think about the staff's recruitment too. Many industries in Dubai needs to meet the local employment quotas. You will also need to acquire a visa permit for yourself and your employees in order to settle there and run a business. 

In short, you must have sufficient knowledge about each and every factor associated with a business startup, especially Dubai mainland business setup. It is always better to avail help from Professional Services to guide you through the process. This is where Endeavour comes in helpful. Endeavour offers a wide range of comprehensive business formation services in Dubai in a quick and hassle-free manner. Endeavour covers all aspects right from business incorporation to celebrating your success. Contact us to know more – we’d be delighted to assist you.