Incorporation of a company is the foundation of any business, and we help you lay it out smoothly. A series of formalities with registrations, licensing, PRO services, VISA, renewals, approvals, office spacing and bank account assistance are required to be undertaken.
Do not worry!! BCL Globiz delivers tailored solutions with a thorough understanding of your needs and scope, through-out your company’s life cycle.
Entities looking to setup their operations in Dubai will have to register a legal entity such as a LLC, Sole Establishment, Branch Liaison Office. However, it is important to determine the activities to be carried out at the initial stage. Every entity in Dubai requires a license which is linked to its business activity.
Generally, you have two options to decide from where you want to operate your business:- Mainland & Free Zones
Trade Name: Entities should first reserve their trade name with respective authorities that is unique and resembles to its business activity.
Guidelines for Applying Trade name:
Business Licenses: Every organization in UAE should acquire specific licenses for their operations and renew them on a periodic basis. The type of license is determined by the nature of your economic activity. A single license can manage more than one business activity and there are 2,300 various economic activities in the approved list by the authorities. The latest laws permit 100% foreign ownership in Dubai for 1,061 activities.
Most Significant Licenses:
1. Commercial License:
An entity engaged in trading of goods & commodities must obtain a commercial license to operate in Dubai and the UAE. Some of the commercial activities include retail trading, transportation, broadcast, real estate, communication, construction, and health care businesses.
2. Industrial License:
Industrial or manufacturing should acquire an Industrial License to assemble and process goods from raw materials procured either local or overseas. Additional approvals are often acquired from the Ministry of Finance, Ministry of Energy & Infrastructure etc. Some of the industrial activities include production of Food, Textile, Metals, Equipment & Engines, Petroleum Products and Paper.
3. Professional License:
Organizations that provide professional services to their clients through specialist, consultant, craftsman, and artisan need to have a professional license. This license ensures your credibility and qualification in a certain field of expertise. Artisan ship, consultancy, publishing, repair services, security etc., come under Professional License.
BCL’s expertise in licensing process enables quick approval and efficient process flow without facing rejection. We also support periodic renewals of the existing licenses.
Labour Department Registration: Organizations registered in UAE require Establishment Labour Card that permits them to hire employees, obtain work permits, and apply work visas on employees behalf. This card verifies the company’s registration with the Ministry of Labor and has a registration number.
We help you acquire the labour card number for minimal cost and time line. In addition to the registration, BCL helps you with visa application and immigration formalities for foreign investors, partners, and employees.
Banking: Your organization needs to create a bank account in a Local, Islamic, or International bank for all its financial activities. However, local banks provide more flexibility for SMEs and start-up companies. After selecting the bank you want to work with, you have to finalize your business activities, management, stakeholders, and business plan and apply with full-furnished documents.
BCL provides ready support in opening one of best-fit in terms of adaptability, flexibility, security, and privacy.
Office Spacing: An entity doing business in the UAE is mandated to have a physical presence inside the country. Establishing an own property or renting is the choice of the organization. However, both have their formalities and procedures. Adopting a suitable workspace structure reduces the money spent on capital expenditure.
BCL helps in arranging for you a perfect office space, whether you prefer a co-working space, private space, or a Flexi desk. We help you throughout your expansions and movements.
Something isn’t Clear?
Feel free to contact us, and we will be more than happy to answer all of your questions.