For those planning to start a venture in Dubai have made a good decision. However, if you were not completely clear with the registration process, this article would be helpful. In fact, this destination is a popular choice for tourists and investors. There are many zones in the UAE that has been established by the government to allow trading to flourish and business to establish. As a fact, investors are then, able to generate revenue, contribute to the economic growth of the country. With that said, of all the trade zones spread across the Emirates, Dubai is the biggest and growing area. It’s become the hub that connects the ports and airport, essential for successful trading.
So, if you’re planning to start this business and you’re interested in knowing the process take a look at the steps below. There are many websites that you research for more details. Given that, here’s a brief overview of registering the company in this region:
- Step 1: Deciding on the type of venture and company operations
When you’re thinking of entering trading and DMCC company setup then, you should first decide on the type you intend to commence. You have three options namely; limited liability for a new enterprise, limited liability of owned subsidiary (foreign or national) or branch of a national of foreign enterprise. Then, identify the type of activities the venture would be performing.
That is, is it entirely based on trading, service or industrial? On the other hand, a license for any one of these activities can be obtained or investors also have the option for multiple licenses.
- Step 2:Choosing a name and starting the application process
The next step is involved with choosing a title for the venture. Afterwards, log into the online site and submit the online application. The application should be filled carefully, without any missing information. Or, it would be rejected, before screening.
- Step 3: Pre-approval and registration
You are required to submit the following to successfully go through this step;
- Passport copies
- Current billing address of residence
- Business plan
- Letter of no objection from the Sponsor
- Power of attorney
Make the payment for reserving the suggested name for the venture. Then, you should wait for the results from pre-approval step, afterwards, the process follows into registration.
- Step 4: Licensing
At the conclusion of registration and licensing, the required documents would be issued from the board of Dubai Multi Commodities Center. By this time, you would have time to search for the serviced office to commence the operations.
You could access the online sites and register for it online. You’ll be able to find details about the benefits of starting a venture here and what the company officials gain. Thereafter, you’ll be guided through this process from pre-approval to obtaining the license for the enterprise, offshore branch, etc.