Overview of Dubai Company Registration

In UAE, Dubai is the first choice of entrepreneurs because of the multiple benefits provided to them in Dubai like tax reliefs, best infrastructure, and beneficial location. Dubai is the most appealing financial hub which attracts investors from all over the world because of the lack of personal income tax and reduced corporate tax, especially in FTZs or Free Trade Zones. Hence if you are thinking about doing Dubai company registration then you are in the right direction. 

Key Advantages of Dubai Company Registration 

Establishing a company in Dubai comes with many benefits. Some of the benefits of Dubai company registration are:

• Business-centric Climate: Dubai is known for its business environment, streamlined process and hub of talented professionals which creates Dubai one of the best places for businesses.
• Taxation Benefits: Registered companies in Dubai enjoy many tax exemptions as it eliminates corporate and personal income and many capital gains which provides financial benefits to the companies.
• Geographical Location: The location of Dubai makes it a great place for those businesses to expand world wide as it is located at the crossroads of Europe, Asia and Africa.
• Dynamic Economy: The economic growth of Dubai is fast-paced which opens up many opportunities for the development of businesses and leads to success.
• Support to Entrepreneurs: In order to foster entrepreneurship, the government of UAE provides training, incentives and support services that stimulate business expansion.
• Special Economic Zones: Dubai provides many free zones that attract perks like no corporate, complete foreign ownership or personal income taxes, which make it appealing for companies and businesses to set up.

Documents Required for Dubai Company Registration 

The documents needed for Dubai company registration are: 

• Filled and completed the application form
• A we drafted business plan
• Registration Certificate, if already in operation or a copy of Existing Trade License
• Copies of passports of all appointed shareholders and manager
• RIC(Registry Identification Code) Form for the appointed manager
• Letter of intent will also be required for the Dubai company registration 
• Bank reference or financial reports, if required
• Specimen signatures of shareholders and manager
• Title deeds if it involve property ownership

Procedure for Dubai Company Registration

The steps that have to be followed to do Dubai company registration are:

• Define the Business 

ActivityThe first step is to define the business activity of the applicant company. This is because depending on the type of business activity determines the requirement of permits and licenses for company registration and operation.

• Select the Business Structure

The following step is to choose a business structure based on the type and nature of the business.

• Choose Unique Name for the Company 

After choosing the appropriate business structure, a unique name for the business name has to be chosen which involves following certain guidelines and cultural considerations. The availability of the business name can be verified with the Dubai Economic Department or the relevant Free Zone Authority.

• Get a Registered Office

It is essential to identify and register a physical location for the business. The process of identification, selection and leasing of the space depends on the needs of the company or the business, that is, whether the space is in the Free Zone or mainland.

• Submit the Application for Registration 

After selecting the organization name and location for the business, the following step is to apply for a business license to run a business legally in Dubai. After verification and approval of the utility form and files attached, the company receives registration certification. 

• Sponsorship Applications Submission

Securing visas for investors and employees is essential to reside and work and reside in Dubai. This process involves sponsorship applications, submission of documents and undergoing medical examinations and background checks.

• Emirates ID Acquisition

The next step is Emirates ID acquisition which the UAE residents and citizens must obtain after obtaining the visa.

• Open a Bank Account

A separate corporate bank account has to be opened after business registration in the UAE in order to manage business transactions. An accounting and bookkeeping system should be maintained.

Types of Business Setup for Dubai Company Registration 

The different types of business set up for Dubai company registration are:

• Public Shareholding Company 

This sort of business is set up wherein the enterprise stocks are presented to the general public. This sort of business structure is good for those agencies which have big scale organizations and a good sized capital base. In Dubai, these companies must have at least ten founding members and their share capital must be AEED 30 million.

• Private Shareholding Company

The ones companies which have a constrained range of shareholders who personal the corporation shares, then they may be called a non-public shareholding organization. This organization structure is good for those businesses which can be medium to large scale organizations and have a giant capital base. A non-public shareholding business enterprise must have at least two founding individuals and a percentage capital of as a minimum AED 2 million.

• General Partnership

If a corporation has or more companions who come together to shape an enterprise, then it's far known as a preferred partnership. The earnings and losses of the employer are shared similarly by way of the partners of the organization. A well known partnership in Dubai ought to have as a minimum companions and no minimal capital is needed.

• Limited Partnership

This form of business is established with two partners: general and limited. The business's debts and responsibilities are handled by its general partners. Limited partnerships must have at least two partners, and the share capital requirements vary depending on the type of the business.

• Joint Venture

This type of business is set up where two or more businesses come together and form a new business entity. The companies share the profits as well as losses of the new entity equally and require at least two or more partners and no minimum capital for becoming a joint venture.

• Limited Liability Company (LLC)

Those companies in which the shareholders have limited liability for the debts as well as various other obligations of the company are called as limited liability companies. An LLC must have at least or we can say minimum two shareholders and maximum of 50 shareholders.

• Sole Proprietorship

A sole proprietorship is a type of business structure in which the company is owned and operated by a single person. The owner of the company has unlimited liability and is responsible for the debts and obligations of the business.

Types of Business Licenses for Company Formation in Dubai

In Dubai, the companies are able to choose among several business licenses personalized or tailored for them depending on their operational activities. The different licenses for company formation in Dubai are:

• Trade Licence: A trade license is good for the ones groups that are engaged in trading sports like shopping for and promoting items.
• Industrial License: An industrial license lets in organizations to produce, fabrication and processing of goods and is right for agencies involved in production or business ventures.
• Professional License: A professional license is designed for professionals, artisans, service-oriented businesses and craftsmen and for offering service based on their expertise or skills.

Why to Choose Whizseed for Dubai Company Registration? 

There are many types of business registration that can be set up and registered in Dubai and every type of business registration requires specific licenses to perform business and it depends on the type and nature of the business. As a layman it's not easy for you to justify all the above things. Hence opting the help of the Whizseed can make your work easy and smooth. They are going to help you out from choosing the register business as per your business to getting registration certification.