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THINGS TO KEEP IN MIND FOR COMPANY SETUP IN DUBAI

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Starting a company and starting it in a well renowned area like Dubai opens up a lot of opportunities for you.Before starting up a company we should gather all the information related to it and we should start brainstorming backed up by a detailed research on the niche in which we are going to invest.

Apart from that there are some points which should be considered before starting a company in Dubai:

Starting a company and starting it in a well renowned area like Dubai is just a great idea. Now if we talk about starting a company it is not a game it’s something serious thing we should look to it.Before starting up a company we should gather all the information related to it and we should have some great ideas about that particular thing we are going to start.

Apart from that there are some points which should be considered before starting a company in Dubai:

Type of Company

THINGS TO KEEP IN MIND FOR COMPANY SETUP IN DUBAI
THINGS TO KEEP IN MIND FOR COMPANY SETUP IN DUBAI

The first as well as the basic thing is study about that particular field in what type of company the owner want to get started. But before that the person should have a good skill as well as experience in that field.

Second thing should be of which kind which means that will the company be domestic or international and this is because type of company will determine which kind of licence is required.

After performing all these things the most important thing is to get in contact with “Department of Economic Development” located in Dubai.

Also Read : HOW TO SETUP BUSINESS IN DUBAI

Ownership

As we want company setup in Dubai knowing that it’s a foreign nation and if we like our company we should opt for a license as well as free zones available in Dubai but on the other hand if we want to operate our company locally then we can easily get a local license from Department of Economic Development.

Legal Form

Depending on the location as well as type of company, there are different kinds of rules and regulations regarding the company which we are going to start. For example if anyone is planning for legal consultancy company then this can be done simply by opening branches or stand alone, other than that nothing is allowed apart from that sole proprietor is also not allowed to take part in this. Thus every company or business have different rules as well as regulation which can be checked in their official websites.

It is equally important to start something which doesn’t need too much of the legal formalities as it would involve government intervention which can disrupt the flow of your business.

Trade Name

The most important part of the legal procedure is the name of the company which we are going to start. The name should be kept in such a manner so that it can identify about us as well as its working. Apart from that according to the legal form the name should be kept unique and should not be copied. The rules regarding the names can be seen by visiting official site of DED.

Share Capital

The share capital is usually set out at minimum in Memorandum Association of our company. In many cases it is seen that we don’t need to pay minimum capital at the time of setup. However there is a predefined share capital requirement for every foreign company which is trying to invest in Dubai.

Partnership Firm:  500,000 AED.

Public Joint Stock Company: 10,000,000 AED

Private joint Stock Company: 2,000,000 AED

Premises

The most important point of all. Ones we have our legal procedure as well as well as forms ready we can shortlist some of the offices with cost as well as other details related our company setup in Dubai. This would help us in creating a clear path ones the legal formalities are ready to go. Some of the free zones provide assistance which help us in finding premises which is suitable for our company.

Employees

Mostly legal forms of the DED we need to hire a manager suitable for our company to view operation and this task should be done before our registration gets approved. But there are restriction in some case where we are not allowed to hire at all. You should always try hard to hire a competent employee as they are the soul of your business.

Local Support

It is very important for our company to get local support. Talking about DED license it is necessary to have local agent or partners as well as sponsor and all these are great support especially in company setup in Dubai which is a foreign nation.A local resident will help you so much more than any foreigner as he/she will be well acquainted with the rules and norms.

Conclusion:

At last, I would like to conclude this article by saying that company formation in Dubai opens up a lot of opportunities for young entrepreneurs and investors but if you get to impatient and reckless about your research and study of the business environment then you could also incur loss, So make sure to hit the bull’s eye to take your business on the next level.

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