Sunday, May 19, 2019

Steps to Start Your Business in the UAE

Wazzup Pilipinas!

Everyone is now becoming aware of the potential UAE market has in it. This is what makes all the people go for company formation in Dubai. the signs of great progress here in UAE are becoming really promising which is the reason why every other day, great and exciting projects keep on initiating in UAE.

Due to the extreme economic growth in the UAE, the Setup your business in Dubai is increasing as well. People from all over the world dare to start to see huge potential here in UAE which is increasing the number of businesses in UAE quite huge.

Another big reason behind such an attraction is the options of business types people can choose from. There is a free zone and then there are mainland companies. All of them carrying great facilities and opportunities for foreigners and locals as well.

How to start your business in the UAE

Following the process accurately with the right support can have daunting effects on the overall idea f company formation. The legal consultants in UAE can be of great help for the foreigner businessmen too.

Here is a step by step guide for UAE business setup;

Choosing the nature of the business

Your business activity will speak amply about where you should set up your business. you must make sure that the place you choose for your business set up is as per the nature of your services and products. If you are setting up your business in a free zone, there are chances that you will get the 100% ownership of your business. If not, you will be requiring a local sponsor who will have the 51% ownership of your company.

Choosing the company name

Naming conventions are quite strict in the UAE. so, you must be very careful while naming your company in UAE. note that your company name should not possess any of the offensive remarks or language. Initials or abbreviations of the names are not allowed. If the company is on the name of someone, he or she must be one of the owners of the company.

Getting all the paperwork done

Complete the application form for choosing the activity and name of the company. Make sure you submit all the required documents including the passports of the shareholders and more. If you are asked to provide additional documents or information, you must do that too.

Receiving the license

After the processing of your application, you will get a notification of the license. After you receive your license, you will be legally allowed to provide your services in UAE.

Creating a bank account
After all the documents are returned to you, you must create a bank account for your day to day financial transactions. For this purpose, you will be needing to approach a bank so that you may go through the further proceedings for opening a bank account.

Processing of visa

Put the applications for the visa of staff and dependents. You can obtain visas for your spouse, children, driver, helper and more.

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