Setting up a mainland company in the United Arab Emirates (UAE) offers numerous advantages, including access to a dynamic business environment, strategic location, and tax benefits. This guide will walk you through the step-by-step process of establishing your own mainland company in the UAE.
Step 1: Research and Planning
Before diving into the setup process, conduct thorough research on the UAE market, industry regulations, and business opportunities. Define your business objectives, target market, and the type of license you need based on your business activities.
Step 2: Choose a Business Activity and Legal Structure
The UAE offers different types of licenses for various business activities. Determine the most suitable business activity for your company and select the appropriate legal structure. Common legal structures include Limited Liability Company (LLC), Sole Establishment, and Civil Company.
Step 3: Reserve a Company Name
Choose a unique and suitable name for your company and get it approved by the relevant authorities. The UAE has specific guidelines regarding company names, so ensure compliance to avoid any delays in the registration process.
Step 4: Submit Legal Documents
Submit the required documents to the Department of Economic Development (DED) in the respective emirate where you plan to establish your company. (Passport copies of shareholders and managers).
Step 6: Obtain Initial Approval
After submitting the documents, you’ll receive initial approval from the DED. This approval is a crucial step in the process, indicating that your business activities align with local regulations.
Step 7: Prepare the Necessary Documents Like Memorandum of Association (MoA) and Article of Association (AoA)
The Memorandum of Association (MoA) is one of the most important documents in setting up a company in Dubai. This document states the information on share limitations and liberty every partner has within the company. This document should be drafted carefully.
Step 8: Lease Office Space
Having a physical office space is mandatory for mainland companies. Lease a suitable office space and ensure it complies with local regulations. The lease agreement must be registered with the Ejari system.
Step 9: Finalize Legal Procedures and Obtain Trade License
Complete the remaining legal procedures, including obtaining approvals from relevant authorities and finalizing the lease agreement. Once completed, you can proceed to obtain your trade license from the DED.
Step 10: Visa & Emirates ID Processing (if required)
Apply for residency via immigration departments, complete your medical fitness test and biometrics. Certain positions might require attested degrees and/or qualifications.
Step 11: Open a Corporate Bank Account
Choose a reputable local bank and open a corporate bank account in the name of your mainland company. Ensure you have all necessary documents, including your trade license and incorporation certificate.
Conclusion:
Setting up a mainland company in the UAE involves a well-structured process that requires careful planning and adherence to local regulations. By following these steps, you can establish a strong foundation for your business and take advantage of the lucrative opportunities offered by the vibrant UAE market.