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Importance Of Legal Assistance To Set Up A Business In Dubai

There are a number of questions that will keep on popping in your mind when you plan to setup a Business in Dubai. Here are some important tips about Legal Assistance to setup a Business in Dubai. For more details http://bit.ly/1PlUAu0

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Importance Of Legal Assistance To Set Up A Business In Dubai

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  1. Importance of Legal Assistance to Set Up a Business in Dubai

  2. 1. Plan your Business Activity This is the first and foremost step to setting up a business in Dubai as the DED has classified business activities into a number of groups and subgroups It is important to plan your business activity because DED determines business license to be issued based on your choice of business activity. license determines the structure of your business which falls under either of the following categories: the kind of Your business Limited Liability Company Sole Establishment http://bit.ly/Legal-Services-Dubai

  3. 2. Choosing a Legal Form for Your Business Factors to be considered while choosing a legal form for your business: Business Type Business Activities

  4. 3. Trade Name for Your Business This is the name that will appear across your trade license and other official documents. Here are some of the important points to note while choosing a trade name: 1. No Punctuation Marks 2. Do not use names of existing brands in Dubai 3. Family names cannot be used as trade names 4. The validity of a trade name certificate is 60 days 5. Online renewal is permitted only once 6. It needs to be renewed within one week of the expiry date. 7. A trade name certificate that has expired cannot be renewed.

  5. 4. Initial Approval Initial approval refers to the approval of business activities of your company. Initial approval is the government’s way of expressing no objection with regard to a business initiation in Dubai. Here are the documents required for InitialApproval 1. Business License Registration, Form BR1 in Arabic or EnglishM 2. Copy of Passports of all the shareholders 3. copy of passport visa page of the foreign partners. 4. UID number of foreign partners if they are on visiting visa

  6. 5. Local Service Agent Agreement Depending upon the legal form of your company, you might need Memorandum of Agreement (MOA) or Local Service Agent (LSA) Agreement with your sponsor who is representing your business with regard to its licensing and compliance. The important components of an MOA includes: Company Name Details of the partners of the company Business objectives Capital investment of the company Share transfers Company’s financial management schema General Assembly Overall profits and losses of the Company Company Dissolution

  7. 6. Office Location and Office Lease Agreement Things to consider before you choose an office location: The office space needs to be within the Emirate of Dubai Also, you can choose any other authorized business centers for your company http://bit.ly/Freezone-Company-Formation-in-Dubai

  8. 7. DED is the Final Decision Maker The final approval for the license is provided by the DED or Department of Economic Development. Here is the list of documents that needs to be submitted for final approval 1. Initial Approval Form 2. Initial Approval Certificate 3. Trade Name Certificate 4. MOA or LSA http://bit.ly/auditing-firms-Dubai

  9. Powered by Dubai http://legalmaxims.com mail@legalmaxims.com +971 4 2278 125

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