Company setup in Dubai is not that hard at all. Setting up a company there is much easier than anywhere else in the world today. When you plan to establish a company in Dubai, there are many things to consider. Among these things to consider are the laws of the country, licensing requirements, location, banking issues, staffing requirements, etc. These and many more are discussed below.
Consider commercial representative:
If it’s planned to set up an offshore or onshore company, you’ll need a Commercial Representative. This is required in almost all things of company setup in Dubai, and a qualified business setup agent will help you with that aspect too. The Commercial Representative’s duties include helping with the submission of the company’s Articles of Association, Annual Registration documents, the company’s Articles of Organization, and any other necessary documents.
Types of companies:
There are two ways to establish a company in Dubai: by using the Dubai Companies Formation Process (DCP), and free registration. Both ways have their pros and cons. The main advantage of the Companies Formation Process is that it has a very high success rate. However, the main disadvantage of using the DCP is that it requires high processing fees and requires the submission of numerous documents, which may sometimes get lost during the transmission process.
Make sure to submit articles of association:
Once you have established a company in Dubai, you’re required to submit the duly completed Articles of Association along with the Annual General Meeting (AGM). These are required documents because they define the nature of your company, its objectives, authorized members, and directors. The Companies Formation Department in Dubai will check these documents to make sure that they’re correctly filled and no mistakes are made. Once these are submitted, you’re required to pay the administrative fees related to the establishment of the company.
Consider overall cost:
Forming a company through the free registration method requires you to pay the fee of three hundred dinars (DH) and one week of registering time. If you have a UAE Business License (UAEB) or an International Business Number (IAN) with a twelve-month validity period, you’ll be eligible for a business formation in Dubai. The company secretary will handle all matters related to the business registration, including the submission of the Articles of Association, Annual General Meeting, and Annual Registration. He will also be responsible for submitting the necessary tax and Dubai freezone company setup cost.