How to Start a Business in Dubai- Things Every Business Must Know
Starting a business in Dubai requires thorough research. Every business needs to have a proper knowledge and understanding of how things work. Despite the fact that Dubai is one of the most business-friendly destinations in the world, starting a business in the city can be difficult and time-consuming.
How to Start a Business in Dubai?
When it comes to starting a business in Dubai, the requirements are different for both offshore and onshore companies. The registration process for offshore companies is easier as these companies don’t have any special requirements regarding the number of owners/ shareholders. To establish an onshore company, a local sponsor is required. Dubai business registration process is different in case of onshore companies.
Here are some of the steps required to start a business in Dubai-
1. Firstly, a company needs to choose its business activities, legal form and a trade name. There are some rules and guidelines that must be adhered to while selecting legal form and trade name.
2. The next step is to apply for initial approval
3. A Memorandum of Association (MOA) must be drafted and signed.
4. Depending on the nature of your business, you may have to obtain special licensing approvals that granted by different authorities and departments.
5. Once all the documents have been submitted and the necessary approvals have been obtained, you can get your business license.
Although, the process of starting a new business in Dubai sounds simple, there are several challenges involved. Most companies lack the knowledge required to overcome legal hurdles that they may face during the process. The best way to overcome these challenges is to avail the services provided by a reliable business consultant.
Jumeira Consultants is one of the most reliable business consultants in Dubai. It provides comprehensive assistance to businesses in company incorporation process in Dubai. Equipped with the expert knowledge, it helps businesses overcome all challenges and hurdles related to establishing a business in Dubai.