Establishing companies in Dubai

Establishing companies in Dubai represents an important strategic step for entrepreneurs and investors seeking to enter a thriving global market. Dubai is known for being a global business center, offering a distinguished business environment characterized by flexibility and facilities. However, the company incorporation process can be complex and the legal and administrative requirements can sometimes be confusing. Here comes the role of Itqan Company, which provides integrated and professional services to help you establish your company in Dubai efficiently and effectively.

Itqan Company, which is considered one of the leading companies in the field of providing company incorporation consultations in Dubai, offers a comprehensive range of services to facilitate all aspects of the incorporation process. From choosing the right type of business entity, such as limited liability companies or offshore companies, to providing support in obtaining licenses and complying with local regulations, Itqan ensures a smooth and streamlined experience.

Thanks to its deep experience in the local market and its extensive knowledge of laws and regulations, Itqan Company acts as a link between you and the local authorities, which contributes to accelerating procedures and saving time and effort. The company also offers customized consultations based on your specific needs and business, ensuring you achieve your goals efficiently and effectively.

In cooperation with Itqan Company, you can focus on growth and expansion in the Dubai market, which is full of opportunities, while the company takes care of all the details related to establishing your company, making the establishment process easier and less complicated.

Establishing companies in Dubai

Steps to establish companies in Dubai

To establish a company in Dubai , you need to follow a number of basic steps. Here are the steps for establishing companies in Dubai in general:

1. Choose the type of company: It may be a sole proprietorship, a joint stock company or a limited liability company, depending on your needs and business expectations.
2. Choosing a company name: The name must be appropriate and comply with the regulations of the Ministry of Economy in Dubai.
3. Identification of business activity: The company’s activity must be precisely identified in order to obtain an appropriate license.
4. Arrangement of partners and shareholders: If there are partners, their shares must be determined and shareholding contracts must be signed if necessary.
5. Office and Headquarters Arrangements: A valid office address must be provided to apply and obtain the license.
6. Submitting an application for incorporation: The application for incorporation of the company is submitted to the Department of Economic Development in Dubai or the entity concerned with licensing, depending on the type of company and the chosen location.
7. Obtaining licenses and approvals: After submitting the application, it is reviewed and the necessary licenses and approvals are issued.
8. Opening a bank account: This is required for the purpose of the company’s financial operations.
9. Registration of company contracts and legal documents: Company contracts and basic legal documents must be registered with the competent authorities.
10. Obtaining the final license: After all conditions are met, the company’s final license is issued.

Documents required to establish a company in Dubai

To set up a company in Dubai , you will need to submit a set of basic documents. The documents required may vary slightly based on the type of company and business activity. Here are the main documents generally required:

1. a copy of the passport: Passports must be valid for all shareholders and directors.
2. Photograph: A recent personal photo of shareholders and directors.
3. Proof of residence address: such as a utility bill or rental contract for the residence address.
4. Company incorporation application form: You must fill out the company establishment form, which is obtained from the Department of Economic Development or the competent authorities.
5. No objection certificate: If one of the shareholders is an employee in the government or semi-government sector, you may need a no objection certificate from the employer.
6. Memorandum of Association and Articles of Association: The company’s Memorandum and Articles of Association must be prepared, which specifies the basic details of the company such as the organizational structure and percentage of shares.
7. Commercial activity permit: Determine the required commercial activity and obtain the necessary permits for that.
8. workplan: Submitting a business plan that explains the company’s future goals and plans.
9. to delegate: If an agent is submitting the application on your behalf, an official authorization must be provided to that agent.
10. License certificate: If there is a need for a license specific to the type of business activity.
11. Proof of business address: lease or ownership contract for the office in which the company will be located.
12. Authentication certificate: In some cases, legal documents may be required to be authenticated by the competent authorities.

Costs of establishing a company in Dubai

The costs of establishing a company in Dubai vary based on several factors, but the main factors that affect costs can be summarized:

• Licensing and registration: Includes costs related to obtaining a business license and registering the company. These costs depend on the type of company and its activity.
• Office Rent: Office rental costs vary based on location, size, and type of office.
• Legal fees: These include costs associated with preparing legal documents such as articles of incorporation and articles of association, and any documentation fees that may be required.
• Consulting services: This includes the costs of hiring consulting companies or legal agents to assist you in the incorporation procedures.
• Open bank account: There are costs that may be associated with opening a business bank account, such as account opening fees or minimum balance requirements.
• Additional documents and licenses: You may need to obtain additional permits or licenses depending on the type of business, which may affect overall costs.
• Government fees: include fees imposed by various government agencies, such as registration and license fees.
• Insurances: You may need to insure the company or some of its activities, which can affect costs.
• Taxes and other fees: Includes any additional taxes or fees that may be required based on local laws.

How to open a bank account for a company in Dubai

Opening a bank account for a company in Dubai requires following several steps, in order to ensure that all legal and administrative requirements are met. Here are the basic steps to open a bank account for a company in Dubai:

• Select bank: Select the bank you wish to open the account with. Make sure it offers services that fit your company’s needs.
• Interview with the bank: Arrange an appointment with the bank. The bank may require an interview with major shareholders or directors of the company to review documentation and discuss account requirements.
• Submitting the application: Fill out the bank account opening application form and attach the required documents. It may be necessary to provide additional information or fill out other forms depending on the bank’s policy.
• Verification and Approval: After submitting the application, the bank will review the documents and conduct background checks to verify the information. This may take some time.
• Account Opening: After approval, the account will be opened and you will be provided with account details such as account number and check booklet (if necessary).
• Initial deposit: The bank may require a minimum initial deposit to open the account.
• Using the account: After opening the account, you can start using it to conduct financial transactions for your company.

In conclusion, setting up a company in Dubai is a must is a smart strategic move for investors and entrepreneurs seeking to benefit from the dynamic business environment that the emirate offers. Dubai, with its strategic location and unique business advantages, offers tremendous opportunities for growth and expansion in an evolving global market. However, the establishment process can be complex and multi-step, which requires the use of specialized experts to ensure that goals are achieved efficiently and effectively.

Here comes the role of Itqan Company, the ideal partner to facilitate this process. Thanks to its extensive experience and deep knowledge of local laws and procedures, Itqan Company provides comprehensive support, starting from incorporation and licensing consultations, to providing legal and administrative advice, and facilitating all procedures related to the successful establishment of your company. Itqan Company is a reliable guide that helps you navigate the business world in Dubai with the least amount of complexity, ensuring that you achieve your business goals smoothly.

The most important frequently asked questions about establishing companies in Dubai