UAE is one of the safest countries for doing business. Every year thousands of people start their dream of becoming an entrepreneur in the land of UAE. It’s also because setting up a business is quite straightforward. For a professional way of setting up a business, you can approach business consultant companies in UAE.

In this blog, we will cover all the important steps for setting up a business in the UAE.

Let’s dive in!

Steps to start a business in UAE

1. Choose a business activity

There are tons of business activities available, and choosing from them is one of the most crucial steps. Moreover, It will be problematic later, if you don’t include all your desired activities in the licence. It is best to consult a business setup consultancy in Dubai as they are fully aware of the available activities.

2. Pick a name

Choosing a name for your business is crucial, as it should reflect the nature of your business. Apart from that, it should follow all the UAE naming rules. Thus, proper care should be taken while choosing a name for your business. 

We would suggest consulting an experienced consultant so that you can save money and avoid any mistakes.

3. Choose a location

This is the next major concern of yours after selecting a business name. You can establish your business either in a free zone or on the mainland. But, it is important to consider the market and the nature of the business while selecting the location.

If you select a free zone, you will get 100% company ownership without the need for a local sponsor. They also benefit from tax exemptions like 0% corporate and personal tax and 100% import and export tax exemption.

However, you should go for a mainland, if your business nature needs direct dealings with the UAE local market. This demands the support of UAE national sponsorship and they own 51% of your company shares.

4. Apply for a licence

Getting a business license mainly depends upon the nature of your business. There are mainly three types of licenses available in the UAE:

  • Professional licence 
  • Commercial licence 
  • Industrial licence 

 Obtaining a license for free zone or mainland requires a simple procedure. It can be done by yourself or can contact any business setup services in Dubai.

In both ways, you need to submit the following documents.

  • A completed application form
  • Passport copy of an owner
  • Two color passport-size photos
 

Pro tip: If you want to ensure a smooth process, you can consult any business consultant in UAE.

5. Open a bank account

Most entrepreneurs find it hard to get a bank account due to the strict money laundering regulations in the UAE. Again, working with a well-experienced consultant can make it easier for you.

6. Apply for a visa

Here comes the last and final step. To start a business in the UAE, make sure you have your visa. Apart from your visa, a mainland business can apply for as many visas. But free zone business has some restrictions that differ from one zone to another.

Conclusion

Are you ready to start a business? If your answer is YES, then don’t look beyond the UAE. Its growing economy, investor-friendly policies, and vigorous infrastructure make it the best place for setting up a business.

Although the procedures for starting a business in the UAE are not difficult, they still require prior knowledge and experience. So it is best to choose a business consultant companies in UAE who will take care of all the requirements.