Step-by-Step Guide to Start Your Own Business in Dubai Mainland, UAE

7 steps to starting your own business in Dubai

 

1. Select the Industry

Many places in Dubai and the UAE only accept particular business operations. Specific businesses or activities, including media, finance, or technology, are catered to in some free zone areas. Consider one free zone close to an airport or port if your company significantly depends on imports and exports.

 

2. Select a location

Whether you set up in the mainland or a free zone, you'll benefit from 0% corporate and personal tax. 100% company ownership. 100% repatriation of capital and profits. You will also benefit from no currency restrictions and 100% import and export tax exemption.

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3. Decide on a firm name

Make sure your company name is suitable legally before committing to it because the UAE has certain rigorous naming conventions. Any names that contain profanity or reference Allah, Him, or other religious, sectarian, or political organizations like the FBI or Mafia are prohibited.

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4. Fill out the application for incorporation

A business plan or Non-Objection Certificate (NOC), a letter from your present sponsor certifying that you are permitted to open a new company in the UAE, may be needed in some free zones. A Memorandum of Association must specify the capital requirements that mainland businesses must meet.

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5. Request a license

The government will provide you with a company license once it has processed your application. Regardless of setup location, you'll typically only need a few common documents, such as a filled-out application form and copies of shareholder passports. You might also be asked to submit a business plan in some free zones.

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6. Set up a bank account

You will get all the necessary papers to open your business bank account once your paperwork has been returned. There are numerous banks in the United Arab Emirates, both domestic and foreign, including Emirates NBD, Abu Dhabi Commercial Bank, Commercial Bank of Dubai, and Noor Bank.

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7. Obtain a visa

The last step in starting a business in Dubai is to apply for a visa. You can apply for employee and dependent visas in several free zones. A mainland corporation may apply for as many visas as necessary; however, free zone companies may be subject to some limitations.