Company formation is mainly a procedure of incorporation of a business. The term company formation is also referred to as Company registration or Company incorporation.
As a result of formation, company becomes a distinct legal entity with its own legal authority, license, responsibilities and liabilities.
Dubai is the most appropriate place to start your business. For starting up a business, United Arab Emirates, especially Dubai, is one of the world’s easiest place to set-up a tax-free business. There are so many avenues and choices, for those who want to expand their business. It is one of the consistently growing economies in the region.
How to Start a Company in Dubai
There are few steps that should be followed for Company Formation in Dubai.
- Select a business activity
- Select a legal form
- Select a trade name
- Apply for an initial approval certificate
- Prepare your MOA (Memorandum of Association)
- Establish your business location
- Get license approval
- Collect your business license
Principal forms of Companies in Dubai, UAE
- General Partnership / Joint Liability Partnership
Simple Limited Partnership / Sleeping Partnership
- Joint – Venture
Public Joint – Stock Company
Private Joint – Stock Company
- Partnership Limited by Shares
- Limited Liability Company (LLC)
Some key benefits of Company formation in Dubai
Incorporating business in Dubai is very attractive to people because there is no currency restriction, easy access to seaports and airports, complete ownership in free zone and easily accessible to wider Middle East and African region. It offers world-class privileges and assures you for 100% foreign ownership. It has tax-free environment. Many investors because of its modern infrastructure also prefer Company formation in Dubai and it is cost-effectiveness.
Essential Business Activities
There are some core business sectors which play a vital role includes MICE (meetings, Incentives, Conferences & Exhibitions), Tourism, IT, Banking & Finance, Real estate, Construction, Health care, Oil and gas etc.
In United Arab Emirates, major export destinations include Iran, India and Saudi Arabia. Major import destination includes japan, China and United States.
Business working hours
In Dubai, official weekend is on Friday and Saturday.
- Government office timings are 7:30 a.m. to 3:00 p.m.
- Private office timings are 9:00 a.m. to 6 p.m.
- During Ramadan, offices open at 8:00 a.m. and close at 2:00 p.m.
For more information on company formation in Dubai, you may contact experienced consultants at +971 4 2666 345, Al Taresh Business Services.