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Know The Legal Bodies That Govern Business Setup Process in Dubai

The business setup process is too complicated but Dubai makes it easy for everyone. Choose the business activity first then do the complete process accordingly. But, before that, you must know how the business setup process works and which legal entities involved in this process.<br>

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Know The Legal Bodies That Govern Business Setup Process in Dubai

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  1. Important Facts That You Must Know Before Setting Your Business in Dubai

  2. Which Legal Authorised Bodies Involve in Business Setup Process in Dubai Tax Residency Certificate 6 Nominal Shareholders Commercial Registration Department 4 In Dubai (UAE), setting up a business requires legally authorised bodies for issuance of a license, and permission to start a business. The Department of Economic Development (DED), Dubai Immigration, the Ministry of Labour, and other public departments are the main bodies to authorise. 7 2 Management Consultants 5 Local Sponsor 3 Fee Structure 1 DED

  3. Department of Economic Development (DED) The Department of Economic Development (DED) of the Emirate of Dubai is a government body authorised to run Dubai's economic plan within the broader governance systems of the United Arab Emirates. Economic plans and policies are developed by the DED and its agencies. It also identifies and supports strategic business and industrial sectors, and provides services to domestic and international investors and enterprises. Its aim is to improve the business environment and accelerate the business of various companies, contributing to the overall growth of Dubai’s economy.

  4. Services Offered by DED • Reserve Trade Name • Instant License • License Activities' Terms And Conditions • Renew Trade Name • DED • SERVICES • Renew License • Print License • Issue Branch Initial Approval • Issue Initial Approval www.yourwebsite.com

  5. Commercial Registration Department The applicants are required to obtain necessary permits and trade licenses with the Department of Economic Development (DED). The company’s Memorandum of Association (MoA) needs to be legalized by the DED The cumulative documents need to be submitted to the Commercial Registration Department.

  6. Fee Structure AED 30,000 Fee of business setup consultant in Dubai for the job (additional service charge for the services you take). Ministry of Economic ? Dh 1,200 + Dh 3,000 Dubai Chamber of Commerce + General Trading License Fee AED 10,000 AED 15,000 + + Dubai Municipality Fee

  7. Nominal Shareholders If you are setting up your business in Mainland Dubai and apply for an industrial and commercial trade license in Dubai then it is a must-have holding of a minimum of 51% shares by the local sponsor and others by an ex-pat. But if an ex-pat applies for a professional license, then he can hold 100% shares. An ex-pat can hold 100% shares of a FreeZone company, there is no law regarding local sponsor or UAE national shareholder when you apply for Free Zone business activities.

  8. Tax Residency Certificate A Tax Residence Certificate is issued by the United Arab Emirates Ministry of Finance as proof of the applicant's formal status as a UAE resident. It is issued with respect to a particular Double Taxation avoidance agreement (“DTT”) between the UAE and specific foreign jurisdiction.

  9. Local Sponsor A local sponsor is a UAE national who acts as a service agent for business setup in Dubai UAE. Local sponsors usually are inactive and do not interfere in business and act as a sleeping partner of your company. While establishing a company, a detailed agreement, mentioning every single responsibility of the local sponsor towards the business along with his/her annual fee, must be prepared by the business owner. Additionally, you will also need a no-objection certificate from the local sponsor to run your business activities without objections.

  10. Management Consultants like OBK Business Centre OBK Business Centre is one of the leading names in the sphere of business setup consultants in Dubai (UAE). If you are planning to set up your business in Dubai, then look no further, as OBK Business Centre offers a comprehensive business setup solution that includes company registration, company formation, trade licensing, business setup and office space rental. Contact them on their contact details for further information.

  11. Contact Us OBK BUSINESS CENTRE LLC Level 20, 48 Burj Gate Tower Dubai, UAE, P.O. BOX 36615 dubai.burjgate@obkbc.com Mobile number: +971 (0) 52 640 2550 Contact number: +971 (0) 4 518 2555 Fax number: +971 (0) 4 518 2666

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