The United Arab Emirates is known worldwide for its wide scope of business opportunities and its stable business environment. Setting up a business in UAE is the dream of most individuals. However, before opting for company incorporation in UAE, one of the primary things to consider is conducting thorough business research. While conducting research, you will get an idea of the UAE company formation cost and its simple company setup procedure.
In addition, if you need more assistance in knowing the business setup in UAE, you can contact a consulting firm. The business experts at the relevant consulting firm will guide you by providing additional information about the work culture followed in the UAE and the leading business opportunities.
However, in this new write-up, let's look at the advantages and the simple company setup procedure for business incorporation in the UAE.
Benefits You Gain by Opting for Company Formation in UAE
While you are setting up a small-scale or a large-scale business, a common thing that stops many individuals in their work is needing to know or have adequate knowledge about the benefits of business setup in UAE. However, before incorporating any business, knowing its advantages will support you in every way. Following are a few business advantages you would gain by opting for company incorporation in UAE.
- Access to multiple business activities
- 100 per cent foreign ownership
- Stable business environment
- Flexible tax incentives
- Availability of multiple business free zone locations
- Ease of business setup process
Simple Procedure for Business Incorporation in UAE for Business Investors
When investing or doing business in the UAE, you must follow the below basic setup of procedures. By following those procedures, you can incorporate your business setup in UAE without any worries.
Draft a Business Plan as Per your Needs
The primary concern when forming a business setup in the UAE is drafting a business plan. While drafting a business plan, ensure you have included all the essentials regarding what type of activity you will choose, your budget for company incorporation, requirements for office space, and so on. Doing so will give you a clear idea about your company formation process.
Conduct a Market Research
Another requirement of company incorporation in UAE is conducting thorough market research. By conducting market research, you will get an idea about the leading business opportunities in the UAE and the competitors in the market. When you note down such points, you can save time in the incorporation process.
Choose a Strategic Location
After conducting thorough research, the next thing to focus on is choosing a business location. Since more than 30 + free zones are available in the UAE, it is good to know about each free zone and its benefits in detail. By gathering ideas about the free zone locations in the UAE, you can get an idea of the type of activity you can carry out there.
Get Assistance from a Business Expert
After choosing the location, the next turn is to find a business setup consultancy. The experienced experts from the relevant firm will guide you by providing ample details about the company incorporation. Also, the business advisors are experienced in the business field and support you in incorporating your company as early as possible.
Finalise a Business Structure
While incorporating any company (small- or large-scale business), the mandatory requirement is to have a business structure. The choice of your business structure varies depending upon whether you choose the offshore or onshore locations. There are different types of business structures available for both onshore and offshore locations. So, it is highly recommended to conduct thorough research to know better about the legal structures followed in the respective business locations.
Choose a Company Name
Another major requirement of setting up a business in UAE is to choose a company name. Most of the people fail to proceed with company incorporation because of the choice of the company name. While incorporating a company in the UAE, there are certain limitations to choosing a business name. In addition to that, while choosing a name, you should always cross-check whether it is being used by other companies or organisations. If you fail to do so, it may end with the rejection of your company setup.
Fill Out your Business Application Form
As a foreign investor, while proceeding with your business setup process in the UAE, always make sure you are clear with the application process. The relevant fields in the application form must be filled with proper concern. If you delay or make a few mistakes in filling out your business form, it may end up in rejection. So, it is always advisable to seek assistance from a business setup consultant.
Submit your Company Documents and Proceed with the Process
After filling out the relevant business form, the next step is to proceed with submitting your company setup documents. Once you submit the documents, you can wait for business approval. Getting approvals may take time. In order to have an eye on the application process, you can seek assistance from Business Setup Worldwide. The business advisors at BSW will update you with every detail about the step-by-step approval process. In addition to that, if you have any business doubts without any hesitation, you can contact us.
Obtain a License as Per Your Business Requirements
Once you gain the relevant business approval, then you can apply for your business license. The type of license you require depends upon your choice of business activity. In order to know what type of license suits your business, you can get support from our business advisors.
Open a Corporate Bank Account
After following all the above-mentioned steps, then you can focus on opening a bank account. Opening a corporate bank account in the Dubai-UAE may seem to be complicated. In order to make your bank account process smooth and easier, get assistance from Business Setup Worldwide. Also, the business experts in the UAE are well aware of the banking process and guide you in finding the right banks to do your investment.
Cost of Company Setup in the UAE
While incorporating your company in the UAE, you must be aware of your company setup cost. The UAE company formation cost varies depending upon various requirements. In order to know about the exact pricing range, you must seek the assistance of a business setup consultant.
After reading all the above-mentioned points, if you wish to proceed with company formation in UAE, then without any delay, you can start your company with the support of Business Setup Worldwide.
BSW's Role in Supporting Foreign Investors
Business Setup Worldwide has assisted thousands of clients in setting up their companies in the desired business jurisdiction. The strategies they follow for business incorporation have always made them stand unique in front of their business clients. They are not only known for company incorporation but also provide various business-related services. Henceforth, if you would like to have a satisfying service with a consulting firm without any hesitation, you can choose us. We are always ready to give our best services to our clients.
What are the documents required for setting up a company in the UAE?
The documents required for setting up a company in the UAE are
Detailed business plan
MOA and AOA
Passports of the company's executives
Sponsor's passport, proving that they are a UAE national
Bank reference letter
Who will assist you in setting up a business in the UAE?
Business Setup Worldwide will assist you in setting up a business in the UAE.
What are the types of business licenses available in the UAE?
The types of business licenses available in the UAE are
List out the types of business opportunities available in the UAE.
The types of business opportunities available in the UAE are
Travel and tourism