Overview of setting up a business in the UAE

The United Arab Emirates is a very productive country to invest in. That is why there are more and more businesses from all over the globe that expand their operation in UAE especially in Dubai.

Setting up business in Dubai can be tough especially if there is not enough support in the preparation of requirements considering the legal pre-requisites needed. Added to this is the business flow in complying with these requirements which for some nationals can be too bureaucratic. Authorities that will be involved in the whole business set-up transactions are the Department of Economic Development (DED), the Dubai Courts and Ministry of Labor.

It will start with the reservation for the company’s name at the DED. The company’s Memorandum of Association needs to be notarized at the Dubai Courts. Then, the application of establishment card and submission of updated salary certificates or labor contracts is made at the Ministry of Labor.

Though easily read than done, the whole process could take up days considering that prior coordination and approval is needed before any appointments are made especially at the DED and Dubai Courts.

Aside from all these and the payments that have to be made, a foreign or recently put-up business also needs to have its own local sponsor or agent especially if the company intends to put up the business outside the free zone. The sponsor or the agent does not only take care of all the paperwork from the planning, filing, processing, finalizing, and many more. They will also help establish the reputation of a company in the Dubai business community. That is why it is important to get sponsors that are credible in order to ensure that the processing will not have any problems.

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