Company Formation in Dubai – A Step by Step Guide

Company Formation in Dubai – A Step by Step Guide
It goes without saying that the administrative, financial and technical parts seem difficult
for company formation in Dubai. But it is a lot more simple and affordable to follow
this step-by-step guide with proper support. If you want to set up your business in
several free zones, here are some of the steps -
● Decide the nature of your business
Your business activity is very important in choosing the free zone to set up your
business in. Some free zones allow only specific types of business activity, such as
transport, media, and medical. It is also important to set up the business in proximity to
other businesses in the same sector. Suppose your business depends a lot on
import/export, you should choose a free zone which is located around a sea port or
airport.
● Decide the name of your company
There are some strict guidelines in the UAE for naming a business. Be sure the chosen
name complies with the regulations. Avoid the names which refer to any religion,
political group, or sectarian part or offensive language. If the company is named after an
individual, he or she must be the owner or partner of the company and it is vital to use
the full name of the individual without any abbreviation or initial.
● Finalize the paperwork
You will need to finalize the application process for the activity and company name you
have chosen and to provide along with the copies of passports of shareholders to the
concerned authorities. Additional documents may be required in some free zones like
NOC from an existing sponsor who confirms that you can set up a new business in
Dubai and business plan. Paperwork shouldn’t be too complex and it should be
conducted with the help of an expert.
● Getting license
After getting your application processed, a company license will be issued to you. You
will be notified whenever you can collect the documents.
● Open a corporate bank account
You will get all the documentation required after getting the paperwork so you can open
a corporate bank account. There are many corporate banks in the UAE, including
HSBC, Barclays, Citibank and others.

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