For foreigners wishing to know the procedures for establishing a company in Dubai for foreigners, as the Dubai Free Zone provides many opportunities and privileges that make the process easy and convenient. One of the options available to foreigners is to cooperate with a company in Itqan.
Cooperating with a company in Itqan provides foreigners with the opportunity to benefit from its local experience and knowledge in company establishment procedures in Dubai. Itqan aims to provide comprehensive support to foreign investors in order to establish and operate successful companies in the city.
One of the most important procedures that must be taken for the procedures for establishing a company in Dubai for foreigners is determining the appropriate type of company and registering with the competent authorities. There are several types of companies available in Dubai, such as limited liability company, limited joint stock company, sole proprietorship, and others. The choice of type depends on several factors, such as equity distribution and financial responsibility.
After determining the type of company, foreign investors must obtain a business license and register with the relevant government agencies. This requires submitting a set of documents and documents, such as a copy of the passport, business plan, lease contract, and necessary qualifications certificates.
Procedures for establishing a company in Dubai for foreigners
The city of Dubai is an important commercial area in the Emirates and is considered the investment center of the country. Dubai has been the largest economic region in the Middle East for years. Here are some basic procedures for establishing a company in Dubai for foreigners :
- Determine the type of company: Before starting the establishment procedures, you must determine the type of company you wish to establish, such as a limited liability company, a limited joint stock company, or an individual company. The choice of type depends on factors such as equity distribution and financial responsibility.
- Choosing a company name: You must choose a unique and appropriate name for the company and ensure that it does not conflict with any other company names already registered in Dubai. It is preferable to consult a specialized office to ensure that the name complies with local laws.
- Obtaining a business license: Foreign investors must obtain a business license from the relevant government agencies. This license is legal proof of your investment in Dubai and establishment of the company.
- Determine the capital contribution: The capital contribution required to establish and operate the company must be determined. The required contribution varies depending on the type of company and the activity the company intends to undertake.
- Finding a local partner: Some types of companies in Dubai require the presence of a local partner (sponsor) who owns a certain percentage in the company. A local partner can be found through specialized consulting and law firms.
- Company establishment and registration: After fulfilling the previous requirements, the company must be established and registered with the competent government authorities in Dubai. The required documents must be submitted and the prescribed fees must be paid.
- Obtaining a residence visa: Foreign investors must obtain a residence visa to work in Dubai and manage the company. The application for a residence visa is submitted through government agencies and the required documents are submitted.
- Opening a bank account: A bank account must be opened for the company in one of the recognized banks in Dubai. This requires submission of required documents and compliance with local banking regulations and procedures.
- Compliance with local legislation and laws: Foreign companies must comply with local legislation and laws in Dubai, including labor, tax and accounting laws. It is recommended to cooperate with a local legal advisor or accountant to obtain the necessary advice.
- Obtaining additional permits and licenses: The company may need to obtain additional permits and licenses depending on the type of activity it carries out. Some activities may require special permits from the relevant government authorities, such as building permits or health and safety permits.
With the completion of these procedures, the foreign company can start its operations in Dubai. However, it is highly recommended to cooperate with a competent legal advisor or lawyer to ensure full compliance with legal requirements and local legislation and to facilitate a smooth and successful process.
Conditions for establishing a company in Dubai for foreigners
Conditions for establishing a company in Dubai for foreigners may vary based on the type of company and applicable government laws and regulations. However, here are some general conditions that may be necessary:
- Local partner (sponsor): Some types of companies require a local partner (sponsor) who is an Emirati citizen and owns a certain percentage in the company. The confirmed ratio, financial and administrative arrangements must be negotiated with the local partner.
- Business License: Foreign investors must obtain a business license from the relevant government authorities, such as the Department of Economic Development (DED) in Dubai. This requires submission of required documents and compliance with legal requirements and local legislation.
- Registered Capital: The amount of the company’s registered capital must be determined and available in the company’s bank account. The amount of registered capital required varies depending on the type of company and the activity in which it operates.
- Trade name: You must select a trade name for the company and ensure that it does not conflict with any other company names already registered in Dubai. The name must be appropriate and comply with local laws and regulations.
- Required documents: The documents required to establish the company must be submitted, such as copies of the passports of foreign shareholders, partner contracts and company powers of attorney, the business plan and other required financial and legal documents.
- Activity permits: The necessary activity permits must be obtained from the relevant government agencies. This requires identifying the business activities the company intends to undertake and obtaining prior approval for that.
- Compliance with laws and regulations: Foreign companies must comply with local laws and regulations in Dubai, including labor, tax and accounting laws. It is recommended to cooperate with a legal advisor or competent lawyer to ensure full compliance with the requirements and conditions for establishing companies for foreigners in Dubai may vary depending on the type of company and the region in which it is located. Here are some general conditions that may apply:
- Company type: The type of company you want to establish, such as a limited liability company (LLC), sole proprietorship, public or private joint-stock company, branch or Free Zone Company, must be determined according to your business needs and goals.
- Local company (sponsor): In some cases, it may be a legal requirement to obtain a local partner (sponsor), who is an Emirati citizen and has a certain percentage of ownership in the company. This local partner contributes to facilitating the administrative and regulatory procedures related to establishing the company.
Conditions for establishing a company in Dubai for foreigners
Types of company establishment in Dubai
| Type of Company | the description |
|---|---|
| Individual company | This company is entirely owned by one person, who is solely responsible for the debts and obligations of the company. |
| Limited Liability Company (LLC) | A company owned by partners who bear limited liability for the debts and obligations of the company. |
| The Public Company | It allows partners to distribute profits and losses based on the agreement concluded between them, and the partners bear full responsibility for the debts and obligations of the company. |
| Private company | It allows partners to distribute profits and losses based on the agreement concluded between them, and there is a partner who bears unlimited liability and other partners who bear limited liability. |
| Free individual company | A company wholly owned by one person, the non-Emirati owner can own 100% of the company and does not need to have an Emirati partner. |
| Real estate company | It deals with buying, selling and renting real estate, and requires a special license from the Dubai Real Estate Regulatory Authority. |
| Investment company | It allows companies to invest in various activities such as stocks, real estate, and bonds, and must obtain a license from the relevant authority in Dubai. |
| Industrial Company | It allows companies to manufacture and produce, and requires a special license from the relevant authorities in Dubai. |
| Small and medium enterprise (SME) | It is concerned with small and medium-sized companies, and Dubai encourages the establishment and support of these companies through multiple initiatives and programmes. |
| Public listed company | A joint stock company owns its public shares and can be traded on the stock exchange, and is subject to many local and international regulations and legislation. |
Please note that this table provides a simple overview of the types of companies in Dubai, but before establishing any company, please contact Itqan Company.
In conclusion, the procedures for establishing a company in Dubai for foreigners require adherence to many steps and conditions that must be carefully observed. Itqan is an important partner in this process, providing the expertise and support necessary to ensure the success of the company’s establishment and its compliance with local laws. Foreigners wishing to establish a company in Dubai must adhere to the following procedures:
The company and foreigners must obtain a license from the relevant authorities in Dubai, and Itqan Company can assist them in this process by providing advice and guiding them through the necessary steps.
Establishing a company also requires applying to the Dubai Economic Development Department (DED) and completing all required documents, and this is one of the crucial stages that must be completed accurately.
Also, the company and foreigners must determine the type of company and determine its strategic location in Dubai, and Itqan Company can provide the necessary knowledge to make these decisions correctly.
The most frequently asked questions about the procedures for establishing a company in Dubai
What types of companies can foreigners establish in Dubai?
Foreigners can establish many types of companies in Dubai, such as sole proprietorship, partnership company, limited liability company, general company, free sole proprietorship, and others.
What are the necessary procedures to establish a company in Dubai?
The necessary procedures include obtaining a license from the Department of Economic Development in Dubai, determining the location of the company, determining the type of company, and completing the required documents.
What conditions must be met to establish a company in Dubai?
The company and foreigners must adhere to some conditions, such as having an Emirati partner for a certain type of company, possessing sufficient capital, and completing all required documents.
Can foreigners obtain full ownership of their company in Dubai?
Yes, foreigners can obtain full ownership of their company in some types such as free sole proprietorship.
