How much does it cost to obtain a company license in Dubai?
When attempting to establish a low-cost firm in Dubai, you’ll want to minimize overhead. Instead of taking on an office lease, you may do this by setting your firm in a free zone and working from an in-house co working space. From AED 24,775 per year, Fujairah Creative City provides a low-cost free zone license that includes one visa application and usage of the free zone’s co working space.
The steps necessary to establish a business in Dubai
The first step in business setup in Dubai is to contact the Business advisor. They can manage the following five-step processes following a brief, no-obligation consultation.
Step 1 – Commercial activities
To begin, you must precisely define your business’s operations. There are hundreds of possible activities, and you must include those you intend to conduct on your license application.
Step 2 – Business name
Following that, you’ll need to decide on a business name. There are a few points to consider at this point. In brief, you should avoid any language that is insulting or profane. Avoid well-known corporate names and acronyms when naming your business after yourself — for example, Dave Mann Consulting rather than D Mann Consulting.
Step 3 – Application for a license
This is arguably the most critical step of all – obtaining a company license. If you are establishing in a free zone, this procedure should take no more than a few days. An advisor can assist you with this procedure by liaising with the controlling authority of your selected free zone. They’ll check that your application is complete and error-free before submission to avoid delays or rejection.
Visas – Step 4
Additionally, you will require a visa to live and work in the UAE. The visa application process – for both you and your workers – is unique yet simple. Business advisors, once again, can assist you with this stage. Additionally, as a holder of a UAE business license, you can sponsor individuals for visas. This may include a spouse, parent, or kid and a domestic worker such as a housekeeper.
Step 5 – Establishing a corporate bank account.
The final item required to business setup in Dubai is a corporate bank account. Regrettably, the UAE’s strong anti-money laundering laws can make access to corporate banking facilities problematic for foreign firms. Working with an advisor can streamline the process significantly. They have great relationships with both domestic and foreign banks and can quickly connect you with the one that is best suited to your needs.