In many countries around the world including the USA, Canada and most of Europe and the United Kingdom, setting up a business is a relatively simple process. This is not always the case in the United Arab Emirates, but working with one of our experienced lawyers in business formation will help you through the steps to registering and launching your business.
The first thing you will discuss with our lawyer is the type of business you wish to open. Many people are interested in doing business in the Dubai free-trade zones as the tax benefits to opening a company in these areas combined with the ability to retain 100% ownership often seems very attractive.
Considering the Options
What you may find in discussion with the lawyer is that the free-trade zones are not always the best match for all businesses. They are typically away from cities and Dubai onshore or mainland businesses, which means they aren’t set up for drop-in types of customers.
Additionally, when operating a free trade zone business, you cannot do business in the Emirate, or you will need to pay specific taxes as well as have a local agent. This results in additional costs, which may make a sponsorship with one or more UAE nationals a better option for your business.
Paperwork and Documentation
Our commercial lawyer will explain the paperwork and documentation that will be required to register the business. This will include a business plan, trade name, lease for office space as well as a Memorandum of Understanding (for an LLC with sponsors), as well as other required documentation.
As this documentation and registration information has to be provided to the DED (Department of Economic Development) in Arabic and in a specific format, working with our attorney will ensure everything is complete and accurate before submitting the documents to be approved.
To start the process of opening a business in Dubai, contact our team of legal experts today at +971 50 27 28 29 1. Browse the website
www.stalawfirm.com for more information.
Be the first to like.