If you are interested in setting up a business, you need to do your homework first. Specifically, if your business goals and objectives include setting up a business in Dubai. Within this rich beautiful wealthy part of the world, it is important to note, however, there are some rules, guidelines, and laws that you must adhere to if you want the process to be carried out seamlessly without any unnecessary problems. So, for those of you who are interested in what you need to do to be successful in your endeavors, here are 4 steps you should follow closely to get your business in Dubai up and running.
Step 1. Prepare to Register the Business
First of all, there is a wealth of information online about Dubai’s business opportunities and this information is meant to help walk new aspiring business owners through the process of registration. Hence, if you are preparing to go thru the process of registering your company, you will need to gather the following information before you get started. For instance, you will need the following:
- Determine who your sponsor will be — Choose a Local Partner
- After making a MOA with the sponsor that has been chosen, it should be submitted to DED.
- Secure a name and activity approval must be acquired from DED
- Make a contract after finding a business premises
- License application and the MOA has to be submitted at the DED
Step 2. Obtain Your Business License — Virtuzone Instructions
After you have been the process of registering your business, your next step is to obtain your business license. The license that you will be receiving is dependent upon the type of business you will be operating. For instance, you may be setting up a manufacturing company, bank or other financial institution, economy and Commerce industry, a pharmaceutical business, or a gas or oil production. Whatever the type of business license that you are requesting, you will need the approval of the appropriate agency. For instance, you are requesting a business license for a manufacturing company, you will need the approval of the Industry and Finance Ministry.
Step 3. Open Up a Corporate Bank Account in Dubai and Virtuzone Instructions
When you are starting a new Business setup in Dubai, your next step is to open up your corporate bank account. In order to open up your corporate bank account in the Dubai, you will need to obtain the following documents so that you will not encounter any unnecessary issues. For instance, you will need to secure and prepare the following documentation:
- Trade License
- Memorandum & Articles of Association;
- Certificate of Registration;
- Board Resolution that gives an Officer of the company the power to open the corporate bank account;
- Copies of passports for those have provided authorized signatures along with any shareholders
- Share Certificate
Step 4: Make Sure the complete Visa Process is complete for your Business setup in Dubai
Completing the process for a business varies based on present country of citizenship. So, it is very important that business owners find out what they are well in advance to ensure the necessary requirements are complete. For instance, citizens of the United States are not required to apply for their visas in advance. Instead, U.S. citizens can apply for their visas once they reach UAE. The visa that these citizens obtain gives 30 days along with a grace period of 10 days before these visas expire. For more information about these types of visas, the applicable agencies can be found online.
Setting up a business in Dubai today does not have to be a difficult undertaking if you are familiar with the process that is required. Because of the information that is available today on the Internet, business owners can find what they need without a lot of unnecessary problems and issues. Even though this business will be located outside of the U.S., the requirements for these start-up businesses are being designed with a simple to use and follow instructions for virtually anyone who is tasked with completing these requirements. However, one of the basic tricks and recommendations is to start early securing the documents that will be needed for each application.