UAE free zone company formation
Dubai is one of the largest cities in the United Arab Emirates (UAE) and an important business and economic center. Many foreign investors choose to open a business in Dubai because of the favorable economic conditions and the fact that the city encourages foreign direct investments. For Saif zone company formation, it is advisable to seek the help of a specialized professional. Business investments in Dubai should be carefully considered, especially when investing in important business sectors like imports and exports. Certain businesses will require special permits and licenses as well as approvals from the government ministries. Our law firm in Dubai works with qualified professionals and we can help you set up your new business.
The population of Dubai is advancing rapidly due to continuous arrival of foreign residents while most of locals and foreigners are enjoying good income. Apart from that, millions of tourists also arrive and stay in Dubai every year that also boost the retail sector of Dubai. In fact, retail is one of the best performing non-oil sectors here.
Any new business in Dubai must be registered at the Department of Economic Development (DED). Businesses can be set up in one of the available economic free zones. Depending on the business type and the performed activities, entrepreneurs can receive various business incentives. Entrepreneurs in Dubai must first obtain an initial approval certificate from the Dubai Government which is valid for six months. After submitting all the necessary documents, the usual time frame in which the business license is issued is one to seven days. Company formation in Sharjah will need to have a physical address. Entrepreneurs can rent a property and register it afterward as their office. According to the Dubai Company Law, foreign entrepreneurs in Dubai must find a local partner/sponsor who will hold the majority of the company. According to this shared ownership, a UAE national holds 51% of the company and the foreign investors hold the remaining 49%.Retail shop in Dubai free zone:
As compared to other big businesses, retail shops can be opened by small investors that provide employment to large number of people. As a shop owner, you are allowed to setup your business either in Dubai mainland or any of the free zones in Dubai. Most of the free zones in this specific emirate also provide residential facility to employees and their family members. Therefore, it is also advantageous to establish retail shop in Dubai free zone.
Retail Shop in Dubai Mainland:
But in fact, the best place for setting up a shop in the emirate is the Dubai mainland. You can contact thousands of people on daily basis here that can boost your business several folds. But there are certain restrictions and a complete procedure before import export license UAE.
Following are certain steps needed before establishing a retail shop in Dubai mainland.
- The initial thing is to find a local sponsor before opening a retail shop in the emirate of Dubai. Like formation of other businesses, it is mandatory to get a local sponsor with 51% shares before opening a shop in Dubai mainland.
- The most important step is to get registration of your business from all relevant authorities. You will require commercial license to start Beauty salon license in Dubai. For this purpose, you will submit all the required documents in these authorities and acquire permission to start your business. Main authority is the Department of Economic Development in Dubai (DED). You will also require approval from Ejari, Ministry of Economy UAE, Dubai Municipality (DM) and other departments to complete the procedure.
- An important step is to select right type of jurisdiction suitable for your business. These shops can be established in malls (like Dubai mall) or in a specific area like Meena Bazar. But it is necessary to know and follow all rules and regulations of these jurisdictions that are related to your business.
- As foreigners can’t purchase property in Dubai, so they need to rent a shop for their business. For this purpose, you need permissions from DM and other related authorities
Open new company in Dubai, can open door of success for small investors and entrepreneurs. But it needs a complete registration process that includes submission of several documents and approval from different departments. This is not a simple process at all and you will require services of a reputed consultancy firm to complete all these tasks conveniently and quickly.
