August 23, 2023 at 2:36 pm #132835John Jones
Setting up a business in Dubai with a general trading license is a popular choice for entrepreneurs due to the city’s strategic location, robust infrastructure, and business-friendly environment. Here’s an overview of the process to help you get started:
Determine the Business Structure: Decide on the legal structure for your business, such as a sole proprietorship, partnership, or limited liability company (LLC). For general trading, an LLC is a common choice due to its flexibility and limited liability protection.
Choose a Local Sponsor or Local Agent: In Dubai, if you opt for an LLC, you’ll need a local sponsor who holds 51% of the shares, while you retain 49%. The local sponsor can be an individual or a corporate entity. Alternatively, you can appoint a local service agent who does not have any ownership but assists with administrative and legal requirements.
Trade Name and Initial Approval: Select a unique trade name for your business and seek initial approval from the Department of Economic Development (DED) in Dubai. This step ensures that your proposed name adheres to the guidelines and is not already registered.
Legal Documentation: Prepare the necessary legal documents, which typically include the Memorandum of Association (MOA) and the Articles of Association (AOA) for an LLC. These documents outline the business activities, ownership structure, and internal regulations of your company.
Obtain a Business License: Apply for a general trading license from the DED. Submit the required documents, which may include the application form, MOA/AOA, passport copies of shareholders and sponsors, and the tenancy contract for your business premises.
Location and Office Space: Arrange for a suitable office space to meet the requirements of the licensing authorities. Depending on your budget and business needs, you can choose to rent or buy commercial property in one of Dubai’s many free zones or mainland areas.
Final Approvals and Registration: Once the DED approves your license application, you’ll receive the necessary documents and pay the relevant fees. Register your company with the Dubai Chamber of Commerce and Industry, the Ministry of Human Resources and Emiratisation, and any other applicable authorities.
Visa and Sponsorship: Based on your business setup, you can proceed with obtaining visas for yourself, employees, and dependents. The specific visa requirements will depend on factors such as company structure, business activity, and employee positions.
Bank Account: Open a corporate bank account in Dubai to manage your business finances. Each bank may have specific requirements, so contact the chosen bank to inquire about the necessary documents and procedures.
Commence Operations: Once all the legal and administrative procedures are completed, you can start operating your business in Dubai. Adhere to the local regulations, taxation requirements, and any other applicable laws.
It’s important to note that regulations and procedures may vary based on the type of business activity, jurisdiction, and recent updates in the legal framework. Consulting with a business setup service provider or a local law firm can be beneficial to ensure compliance and a smooth setup process.August 24, 2023 at 1:54 pm #132953Lord Lorenz
Starting an online business in Dubai has been on my mind for a while. I’ve heard it can be tricky navigating the licensing and regulations. My friend Ahmed started a small e-commerce shop last year shipping electronics. He told me the key was finding a good consultancy to register an online business, handle all the paperwork and licensing. Ahmed used ChooseUAE and had nothing but praise for their full service approach. He said they guided him through every step from choosing the right license package to arranging visa, office space and even launching the website! Now his shop is thriving and he attributes much of his success to the easy startup process with ChooseUAE. For anyone looking to start an e-commerce business in Dubai, I’d recommend checking out ChooseUAE. Their expertise could make the journey much smoother.August 28, 2023 at 11:25 am #133216Ryaniamhaa Xiomar
Hello to all the users of this forum! As far as I am concerned, now it is impossible to trade without a broker, as only companies that have received the appropriate license are allowed. I can recommend the company fbs trading. This company has been in this field since 2009, it works with more than 150 countries and cooperates with more than 27 million people. I am sure they will help you with your problem.
I think I have helped you with your question.September 28, 2023 at 8:17 am #136296Jorja Steigrad
You described all aspects perfectly, and I think that people will not have any questions
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