How to Become a Company Formation Agent in Dubai
Company Formation
The UAE offers a variety of options for company formation, catering to entrepreneurs, multinational companies and start-ups. The country’s flexible regulations and multiple choices for licencing and location allow it to offer a premium business environment that is also thriving with numerous opportunities for networking, collaboration and growth. Its enviable geographical location provides quick access to over 2 billion consumers in multiple markets that are all within a 4-hour flight time.
To begin a company formation in Dubai, you must decide on the type of entity you wish to form, and obtain initial approval from the Department of Economic Development (DED). To get this, you will need to produce your company name, business plan and supporting documentation. Once you have received initial approval, you can then prepare a Memorandum of Association (MOA), lease office space and set up your business activities in accordance with the DED’s requirements. You can also obtain a license from the DED for your business activity, which will be required depending on your type of business. For example, organizations engaged in commercial activities may require a trade license, while professional services and industrial enterprises should acquire a service or industrial license.
Depending on the type of business you are establishing, it is important to select the correct activity to get the best company registration cost in dubai. Creative Zone can help you identify the correct activity for your business and provide a quote tailored to your specific needs. It is also essential to note that an initial approval does not imply that your business will be approved. The approval simply means that you are on the right track towards getting your company established in the UAE.
How to Become a Company Formation Agent in Dubai
For Mainland UAE companies, you will need to provide a physical address for your business. This will be necessary for the DED to issue your commercial or industrial license. For Free Zone companies, the DED will usually provide an office for your business. Once you have obtained your trade licence, you can then register for a residence visa and open a bank account.
A popular option for company formation in the UAE is to establish a Free Zone company. These are economic zones that provide benefits such as 100 percent foreign corporate ownership and lower tax rates. They are typically easier to establish than a Mainland company, and they offer the same legal rights as a mainland company.
Another alternative for company formation in Dubai is to form a Civil Company. A Civil Company is a partnership business for professionals and can be formed with partners of any nationality. However, a Local Service Agent is required if the partners are not UAE or GCC citizens. A Single Person LLC is another business structure that is available for foreigners, and it allows for up to 50 shareholders with only one owner responsible for the liabilities of the company. The company will still be required to submit a business plan and a Memorandum of Association.