Home of multinational companies and entities with a phenomenal presence across the world, Dubai has been the epicentre of growth and development. Almost all the leading organizations have their campus in this leading investment hub. Constantly progressing projects, which might appear implausible, is another speciality of Dubai. All these elements point to the benefit of starting a facilities management company in Dubai.
Yes, every firm handling multiple projects, maintaining varying systems and managing an extraordinary workforce would require support from a facility management company. Instead of maintaining an in-house facilities management team, companies outsource it to responsible third parties.
One of the rapidly growing sectors, facility management is expected to touch $40 million by the end of this decade. This blog post is intended for providing you with a complete insight concerning setting up a facilities management company in Dubai, the benefits of starting a facility management firm in Dubai, the steps involved in company formation, etc.
Steps to Start a Facilities Management Company in Dubai
Starting a facility management company, for any business, in Dubai is simple. The authorities have established an unfussy process, to support the investors in the best possible way.
1. Decide the Jurisdiction
You can start a facilities management company in Dubai Mainland or Free Zone. Both the jurisdictions offer unique features and facilitate optimal growth. It would depend on your decision on which jurisdiction you want to select. The Department of Economic Development (DED) is the license issuing authority in the Dubai Mainland. In the case of free zones, the respective free zone authority would approve the business and issue the trade license.
2. Register the Business Name for the Facility Management Company
All the correspondences concerning the company would be on the business name. Hence, business name registration is one of the initial steps. You must abide by the extant regulations regarding the trading name. No blasphemous, politically or religiously inclined, or abbreviations (if you are using your name as a business name) are allowed. Register the business name with the authorities.
3. Obtain the Initial Approval
The initial approval for company formation has to be obtained. Further processes and approvals can be pursued post receipt of initial approval. A business setup service in Dubai can handle all the requirements on your behalf. Nonetheless, you must ensure that the service agency is a reliable and experienced one like Kiltons Business Setup Services.
4. Finalise the Business Activities
Finalize business activities the facility management company in Dubai would be performing. The business operations planned will have to be mentioned in the license application.
5. Apply for Trade License
A trade license or business license for the facilities management company in Dubai Mainland is issued by the DED. The relevant Free Zone Authority issues the license for a company in any of the Dubai free zones. The trading license would be issued in the shortest time if all the documents are correct and proper. Any anomaly in the application or the certificates can affect the license issuance process. Therefore, it is best to assign the task to a committed business setup service in Dubai.
6. Visa for the Team
Of course, you would need proficient professionals for managing the facilities management company in Dubai. The number of visas authorized would depend upon the size of the company. Accordingly, you can apply for visas for recruiting foreign employees, your family members and domestic help (if any).
7. Grading of the Facilities Management Company
Grading of the facility management company in Dubai, UAE is essential. The grading done by Real Estate Regulatory Authority (RERA) would indicate the specialisation and expertise of the company. This would be the yardstick for obtaining projects. Note that, only highly graded companies can apply for some of the exclusive projects.
8. Corporate bank Account
Once you have the business license issued, you can apply for a corporate bank account. The bank account opening process would depend on the bank you choose.
Do you have any doubts concerning starting a facility management company in Dubai? Searching for a trusted company formation specialist in UAE?
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Documents Required for Facility Management Company
The documents required are:
- Completed business license application form with all the details furnished correctly
- Copy of passport of the owner/ shareholders
- Passport size photographs
The setting up of facility management in Dubai would cost you around AED 15-20K. Nonetheless, the exact expense for the company formation would depend on several factors including the size of the company.
What are the Benefits of Setting up a Facilities Management Company in Dubai?
Businesses in Dubai have been registering remarkable growth owing to the supportive regulations, business-friendly atmosphere, optimal growth possibilities and rapid development of the emirate.
The benefits of setting up a facility management firm in Dubai are:
- Expansions and developments in and around Dubai offer extensive projects for the facility management company
- Quick business set-up
- Advanced infrastructure
- Well-connected prime locations
- Several projects including shopping malls, hotels and offices coming up
Kiltons Business Setup Services has been the guiding force behind many successful facilities management companies in Dubai. Our professional team knows the subtle elements and intricate aspects of the business setup process. They would provide you with relentless support throughout the process, which would be instrumental in the successful establishment of your firm.
Are you looking to start a facility management company in Dubai? Drop us a message or call us now.