Dubai is one of the most prosperous and cosmopolitan cities in the Middle East, combining the elements of both the East and the West. It is one of the most favorable business hubs the world over. Over the past decade, Dubai has attracted millions in LLC (Limited Liability Company) Company formation in Dubai. Most of the investors prefer to set up a Limited Liability Company or LLC Company formation in Dubai.

The standard type of company in the UAE mainland is the Limited Liability Company (LLC). The DED is the government body authorized to issue all licenses for LLCs and is responsible for classifying and regulating the types of economic activity that may be undertaken. Limited Liability Company (LLC) is the most common form of business in the UAE. A Limited Liability Company can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the business capital. Dubai limited liability companies allow foreign citizens to own 49% of its shares, while 51% must be brought up by a local sponsor or partner. There are no minimum share capital requirements to register a limited liability company in Dubai, except for the sufficient capital test enabled by the Department of Economic Development (DED). In this case, DED decides if the capital subscribed by the founders is sufficient for the undertakings they intend. Another requirement for a Dubai limited liability company is the managerial ones. Under the Dubai company Act the company must have between one and five managers. The incorporation procedure of a limited liability company in Dubai is quite simple requiring a few steps to be completed. Another advantage of the Dubai limited liability company is that it can be registered for any commercial purpose. Another added advantage is that the tax authorities depending on the country, consider the Limited Liability Companies as partnerships when calculating and imposing various taxes. The owners of a Limited Liability Company are called members which is synonymous with the term shareholders.

Here are the steps to register an LLC in Dubai.

1. Registering the company with the Department of Economic Development (DED)
2. Drafting and notarizing the company’s Memorandum and Articles of Association
3. Submitting all the required documents and business license application form with the Department of Economic Development. The required documentation will vary greatly depending on the type of business activity, including but not limited to:

• Certified passport copies for all shareholders and managers;

1. • Copy of the UAE residence visa, if applicable;
   • No Objection Certificate (NOC) from the current UAE residence visa sponsor;
   • 2 x Certified proofs of address for each shareholder;
   • 1 x Signed Sovereign Application Form;
   • 1 x CV for each shareholder;
   • 1 x Professional / bank reference letter for each shareholder.

4. If the shareholder is to be a corporate entity, the required documentation will include:

• Memorandum and articles of the company;

1. • A board resolution agreeing to incorporate a new LLC in UAE;
   • A power of attorney (POA) to the General Manager to incorporate the new LLC.

5. Registering with the Dubai Commercial Register
6. All documents must also be translated into Arabic by an official translator before they can be presented to the authorities in the UAE
7. Upon incorporation, registering one’s employees with the Ministry of Labour and General Authority for Pension and Social Security

Setting up a limited liability company in Dubai comes with various advantages, especially for foreign investors. It has correspondents in most countries in the world, therefore it is a popular business form. Dubai LLC offers unrivaled access to the wider UAE economy. It offers access to all industries in Dubai and the UAE, for those interested in starting a business here. Any type of business license can be obtained by registering a limited liability company. When setting up in a Dubai free zone, the limited liability company will offer full ownership to a foreign investor. There are no share capital requirements related to opening an onshore limited liability company. It is easy to register and to open a local bank account for, however, a local agent must be appointed for the incorporation procedure.

At Impressive Companies Representation, we provide complete assistance for clients who are interested in LLC company formation in Dubai. Our business consultants clearly understand your requirements, your budget, nature of your business activity, complete details of your partners, and give complete assistance in LLC Company formation in Dubai. Our team will provide the best advice when it comes to determining the most suitable consultant for your business.

contact us for options, pricing, and further information.

Tags: business setup in uae, company formation in uae

Everyone has ideas. I get ideas by the dozen. When I’m showering, when I’m stuck in traffic, when I’m checking out Instagram stories and much more. But that does not mean that all can be converted into million-dollar businesses. Note that these cannot be converted into million-dollar businesses, but I may simply not be driven enough to see those particular ideas through to that milestone. When you have a great idea for a business, the thrill can drive you headlong into an energetic launch. But wait. Statistics show that over 50% of businesses fail in their first five years.

One of the biggest challenges for aspiring entrepreneurs seems to be getting off the starting line. I have many friends with big ideas and big dreams, who are constantly seeking affirmation and advice but never get around to making that first step of building a product or incorporating a business. Despite these challenges inherent in turning a business idea into reality, however, a well thought out business idea can become a full-time career. There are a lot of success stories, in fact, of very young entrepreneurs making millions of dollars on business ideas conceptualized in their parents’ basements. There are several reasons why businesses go down but this early failure rate is usually the result of poor planning. For a business idea to succeed, you need to follow methodical procedures to ensure you launch from a firm base. I would like to discuss a few steps that can lead your ideas to a successful business.

The first step you have to follow is the Research the market. Maybe your idea is wonderful but are you sure your business has a market or what. Many businesses launch, only to find someone else has already had the same idea and has got into the market first. Or the potential market is so small that you’re never going to be able to make a sustainable income from it. The next step is to validate your idea. Get the idea out of your head and onto paper. Even if it’s only a few PowerPoint slides or typed paragraphs, writing something down is the step toward making it real. Share this with your network and see the response. Are people excited to use it? Do they feel their needs or problems are resolved by using your product? Is it easy to use?

The next step you have to follow is to consider your finance. While having your office in a guest bedroom in your house or in your basement may be a bit inconvenient, it may be a better alternative early on, as you save a lot on maintenance expenses that you can pour into your business instead. Of course, you can always get a loan from the bank, but in times of economic downturn, their interest rates may not be very friendly to upcoming small businesses. You can also get funded by individual investors, but make sure that theirs and your visions align.

An idea that cannot be patented or protected is very likely to be replicated by established competitors who have more money and resources than you can dream. So, the next step must be Register the intellectual property to protect your idea. In many countries, registering your business is easy and doesn’t cost a lot of money, so you should do that as soon as possible. This will give you the freedom to start selling without having to worry about the technical aspects of it, like getting the bank to approve your business bank account. The same goes for domain names; once you have a good business idea, register the domain name immediately as the cost is almost negligible but not having it will have a major impact on your marketing later on.

The last but not the last step is to Set up a legal company. With your big idea developed and tested, you’re now at the stage to formally set up your business. There are various ways you can do this in the UAE. Cutting corners, though, could jeopardize your company before it even starts. The best approach to setting up a legal company is to use a reputable company formation specialist. They will listen to your needs, explain the options and propose the best way forward. They can also complete all the paperwork, set up a corporate bank account and make sure you stay legally compliant.

Patience is the key when turning a business idea into reality. Follow these steps, filter your ideas and turn your business dreams to reality.

Tags: business setup in uae, business setup services in dubai, company formation in uae

UAE is popularly known as the business hub of the Middle East. There has been an immense growth in the financial, business, trade and logistics sectors over the last two decades. Their contribution to the world economy is substantial. There are many business setups in UAE, interested in trading goods with neighboring countries; such people should have a valid general trading license to do the same. A Trade License is not just a formality in Dubai; it is more of a necessity. It dictates the scope of your business activity along with legitimizing your Business. Although costlier, having this license has its own perks and advantages. When applying for it, one has to take great care of it.

The Statutory body, The Department of Economic Development (DED), with the institutional support from the Dubai Chamber of Commerce & Industry regulates and controls the licensing procedures for an entity in Dubai. Certain Ministries’ and other authorities’ approval is necessary for some categories of business. Such instances include pharmaceutical and medical products from the Ministry of Health, banks and financial institutions from the Central Bank of the UAE, manufacturing from the Ministry of Finance and Industry, insurance companies and related agencies from the Ministry of Economy and Commerce. Businesses engaged in oil or gas production and related industries require more detailed procedures. Businesses like printing and publishing, food trading require more clearances than say a general trading business. In short, all commercial and industrial businesses in UAE should be registered with the Chamber of Commerce and Industry in the respective Emirate.

A general trading license in UAE costs approximately from AED30,000 to AED40,000, depending upon several factors. The type of services and activities performed by a business is the factor that indicates which type of license you should apply for. There are mainly three types of general trading licenses. They are Commercial License, Industrial License and Professional License. You should apply for the commercial license if you intend to engage with your company in trading. Industrial License is to be issued to a company that will engage in manufacturing or any industrial activity. The Professional trade license is a special business permit and is usually issued in industries such as accounting and finances, management, IT, healthcare, education, advertising, marketing, etc. The professional trade license comes with many advantages. It can be obtained by sole proprietors in Dubai. If you are a foreign citizen applying for a trade license and if you want full foreign ownership over the sole proprietorship you must first become a resident of Dubai.

To obtain the general trade license one has to follow a few steps. First of all, categorize your Business. The Free Zone or the Department of Economic Development (DED) provides a category list. So you must identify the appropriate category for your Business. Worldwide Formations can assist you in selecting the relevant one for you if you are unable to pinpoint the suitable category. Choosing a suitable legal structure is the next step. Your company’s legal structure is just as important as the trade name of your company. Several free zones in Dubai allow you to operate it. The legal structure mainly depends on the number of shareholders you have in your business, and the jurisdiction you choose to operate your business in. Choosing a trading name is the next step. While choosing a trading name whether it defines your business activity and also make sure it adheres to the government guidelines. You must inquire with the respective free zone authority or DED before finalizing your choice of name. It is to cross-check whether the proposed trade name has already been registered by any other business or not. The next thought you need to have is on how much you need to invest. Depending on your business you must have an idea of your investment. The next is an action that you have to make is to lease or purchase office space. Choose an office space that suits your budget and business requirements and also make sure, you can conveniently accommodate your employees. The next step is to get initial approval from the authority. It is a fundamental step for obtaining a trade license. Make sure you have the documents such as Duly-filled application form, The master plan of your business activity, Copy of present trade license, in case you run a local company (optional), Copy of passport (of every shareholder/partner associated with your business legally), Copy of signature (of every shareholder/partner associated with your business legally), Certificate of reference from the bank or 2 years financial statement, NOC from your sponsor, Unit title deed, Letter of Intent and Original and notarized copy of Registry Identification Form (for the Director) before presenting to the authority for the initial approval. The initial approval is followed by the payment of fees for registration and license. Make sure you have submitted documents such as Application form for registration duly filled, Notarized and attested Board Resolution for the appointment of Director or Manager, Notarized and attested Power of Attorney endowed to the Director or Manager, Notarized and attested Memorandum and Articles of Association, Notarized and attested proof of the signature of the Director or manager, Passport-size photograph of the Director or the Manager and Details of Share Capital.

Tags: business opportunities in dubai, business setup in uae, business setup services in dubai, company formation in dubai, company formation in uae, company setup in dubai

You don’t need the fortune to create a successful business with the success of low-budget startups. It has been proved. Company formation in UAE can be launched on budget, and shouldn’t be undone by prohibitive levels of investment. So it is crucial to use accurate planning. Starting a Business in Dubai is a progressive decision as well as a challenging one. Since Dubai has shown its stability in economics in the International market, business investors have been attracted to Dubai.

Starting a business in Dubai takes eight days on average. Current market trends in Dubai have plenty of opportunities for foreign investors who tap into imports and export of commodities. They take advantage of the growing tourist traffic of the city for an almost unlimited number of potential clients and customers. You need to be pretty much aware of the facts associated with a business startup in Dubai. It will help you to avoid the problems that are supposed to happen while launching a profitable enterprise in the United Arab Emirates [UAE].
It wouldn’t take more than a week to start your business in Dubai if you have sorted out all your legal procedures. The kind of license you require for your business depends on the type of your business. Your operations will be defined on the basis of commercial, professional or industrial licenses. But there are exceptional cases where you require approvals from Governmental departments. It includes food trading, jewelry trade, veterinary activities, and legal consultancy. In Dubai, the Department of Economic Development (DED) has a list of over 2100 activities you can choose from. You can contact the DED, if you’re unable to find your specific one from it. Each and every free zone has its own regulations and approval formalities.

Most of us have an eye on 100 percent ownership of our company. If that is what you are looking for you need to opt for a license and location in one of the many free zones of the UAE. There are specific kinds of activities in every free zone. Clarify it in the first step, so it will help you find your best option. You don’t feel lack of choice since there are over 45 free zones in the UAE with plenty of categories of operations. And still, if you are in need of a local license or you need to operate locally, you have to approach the Department of Economic Development (DED) to get the license. The DED license comes with certain restrictions on the share of ownership for foreigners.

The rules regarding the make-up of your firm depend on the location and type of business you choose. For example, if you plan on a legal consultancy firm, it can be done only as a branch of the company or as a stand-alone company. This activity should not be taken up by a sole proprietor. Alike, Each and every free zone has its own regulations and approval formalities; it has its own restrictions regarding the company structure as well. You can look these up on the official website of a free zone or the DED. We suggest you for detailed research and study before you move on to your startup.

One of the important parts of the legal procedure is your Trade name. Unless it is a branch of another company, the company name should ideally and clearly indicate the nature of your business or startup. All the rules regarding trade names can be also seen on the official website of DED.
In the Memorandum of Association of your proposed company Minimum share capital is usually set out. In most of the cases, during the time of setting up you do not need to pay minimum capital.
Once you are done with your legal procedures and forms ready to go, half of your procedures are done. The next move you better do is to it filter some offices with costs and other details. This would show you a crystal clear path forward. Find premises suitable to your requirements along with help to set up electricity, internet, water, and other amenities aren’t a difficult task in the free zone since; you will get the right assistance at the free zone.
Before your registration is approved, you need to hire a manager to oversee operations and have him ready to be on board. This is how it is usually in most legal forms of the DED, but in some other cases, you may not be allowed to hire at all. For example, Intelaq license holders (license for home-based Emirati business owners) are not allowed to hire staff but can engage contractors. Regarding the structure of a business, each free zone has its own specific regulations.

It is mandatory to have a local agent, partner or sponsor for DED Licenses since this is great support for foreign nationals. Having a local contact can help take the business forward effectively for free zones. However, this is not mandatory. Dubai as a business destination boasts easy set-up for all businessmen regardless of nationality and Dubai is a strong platform for all the enthusiastic entrepreneurs out there.

Tags: business opportunities in dubai, business setup services in dubai, company formation in dubai, company formation in uae, company setup in dubai