Dubai is a dream city for businesses around the world. For the same reason, almost all of the elite conglomerates have their branches in the city. The number of fortune-seekers arriving in Dubai is growing at a rapid rate. Most of them envisage a business set up in Dubai. The increased number of businesses has enforced the UAE Government to devise stringent norms for setting up a business firm in Dubai.
The ex-pats have to follow the laid down procedure to obtain business licenses in Dubai. The procedure includes obtaining approval from various governmental authorities in Dubai, submitting original documents and sanctions from different ministries depending on the type of business.
Why Business Setup Service Provider?
A business setup service provider can be your right hand during all the activities. They can facilitate the approvals without much complication. There are several reasons why you should hire a business set up service provider in Dubai.
Let’s take a look into the main reasons for associating with a business setup service provider in Dubai.
Recognise the Business Type & Obtaining the License
You must have a business license to commence business in Dubai. The type of trade license you require will depend upon your field of business. The procedures and approvals will differ with each type of business and business license. Certain types of businesses will require approvals from ministry, legal clearance and bank guarantee.
You, being an ex-pat, may get confused in the paperwork towards issuance of the license. The business set up service provider will undertake all the activities on your behalf. And aid you in setting up your business in a smooth manner.
Deciding the Field of Business
The license issued to you will decide your area of commercial activity. It can be a Mainland license, Free Zone industrial license etc. You must be well versed with the business options and advantages of each to decide the jurisdiction of your business. The business setup service firm will be the best option to guide you with respect to the decision.
Expert Advice on Every Issue
The firms, having professionals with years of experience, will know the best option to proceed. They can guide you regarding any query related to setting up and operation of a business in Dubai. The outsourced agency will act as your guide light during the process. As they are with you, there is only a minimal chance of any impending issues. The team of professionals will know the exact procedure for the setting up of every kind of business. And they will act as well-oiled machinery for you.
Formulation of AOA and MOA
It is mandatory for every company to prepare Article of Association (AOA) and Memorandum of Association(MOA). Besides, the law of the land in UAE stipulates that both the documents are to be prepared in English and Arabic.
AOA will lay down the structure, rules, responsibilities and all the related aspects in respect of the company. An MOA, on the other hand, will have details regarding shareholders, the liabilities, capital clause and so on.
An experienced professional firm is vital to formulate the AOA and MOA. Their association will ensure that you are preparing the structure of your organisation in the best possible way. And that will help you in obtaining an optimum result.
The federal laws in UAE stipulate that a local Emirati must be the sponsor of the company. The sponsor will hold a 51% share in the company and 49% will be held with the ex-pat. A reliable sponsor is an essential factor for the success of any business venture. An irresponsible sponsor can complicate the formalities and can even destroy your firm. Therefore, you must find your local sponsor in UAE carefully.
A business set up provider will help you in getting a dependable sponsor. The assurance from the reputed agency will remove the burden off your shoulder. Thereby, you can concentrate on business unconcerned.
Office Space and Commercial Space
It is mandatory to have an office space and commercial space for the business. The office space in UAE could be Flexi desks. However, it may not be suitable for some kinds of businesses. The commercial space must have the minimum dimension specified by the federal laws. The agency will help you in finding out the office space and commercial space at reasonable rates.
Ease of Paperwork
The Department of Economic Development Dubai (DED) is the main authority for the issuance of trade licenses. In addition, there are other organisations, departments and ministries involved in the process. The outsourced agency will be familiar with the process of each of the department. Since you are an outsider and new to the system, it may turn confusing to you. The dilemma may affect your other activities and plans towards the business.
The outsourced business setup agency will complete all the activities for obtaining trade license within a specified timeframe. You do not have to be bothered about the process at any point in time.
With the business set up service beside you, the setting up of business in Dubai becomes easy, convenient and budget-friendly. The reputed agencies are determined to provide the best results to the clients. They will support your business in the best possible manner and guide you. They can be the right option for the growth of your business.
Hope you got a clear picture about the major reasons why you need a business set up services provider in Dubai. Kiltons Business Setup Services, being one of the leading business consultants in UAE provide the best services for businesses to flourish across the Emirates. The major business services provided by Kiltons include Visa services, Licensing Services, Accounting and Bookkeeping Services, CFO Services, Sponsorship Services etc.