What Are The First Three Steps To Start A Business Setup In UAE?

Before starting your own business anywhere in the world you need to be aware of all the registration processes and the legal structure of the country. After all you are going to invest a big amount of your hard earned money and you won’t want to invest your money in an unknown market. You need to have sound knowledge of all the laws and regulations. Starting a company without knowing procedure and rules is a suicide even if the country is economic friendly like United Arab Emirates. 
business setup in UAE
UAE is Geo strategically very well located and can be accessed easily from whole of the Asia and Africa. European company formation in this country is also on the rise due to the economic friendly structure here. Because of these factors it is attracting investment from all over the world. But before starting a business setup in UAE there are some key steps to be followed, which are very necessary. 

Category selection:

Be clear in your thoughts about the selection of your trade. Selection of appropriate category of trade that you want to do will determine what kind of licenses you need. You have to decide between these main categories of:
  • Commercial
  • Industrial
  • Professional
After selecting a category you get a proper license from the authorities. After selecting a main category you need to pick a sub category of what kind of company you want to run. This allows you to decide the specific trade activity like real estate, transportation, animal production, steel works, hotel, travel offices, tourist restaurants, consulting offices, law firms etc. Or you want to do manufacturing and selling trade. 

Select a legal form:-

The 2nd step is to select a legal form of trade activity. When deciding the legal form of the company you should keep in mind the activities of your company and the number of owners of your company. Simply saying free zone allows you to have 100% sole proprietorship and onshore company has two owners or more than two owners, exact number of foreigner partners and a local partner. Every legal structure has its own rules and regulations. Choose the best legal form of trade that suits you. These include:
  • 100% ownership
  •  Local company(you need to have a local partner)
  • Branch offices
  • Commercial agency agreement 

Trade name:

After completing the first two steps the third step is to select a name of your business setup in UAE that bests suits your organization. Select a name that is not previously used by anyone or in use currently by anyone else. The company name should always be well-matched with the legal form and the category selected. The concerning departments have the right of changing or cancelling your trade name even if there are no similarities with existing trade names.

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