Business Setup in UAE

Business Setup in UAE

UAE presents a favorable business environment. Excellent infrastructural facilities coupled with professional expertise and personalized services give the UAE an edge over other countries.The UAE continued to keep its lead in the Middle East and Arab region in the World Bank’s East of Doing Business ranking 2020 with 16th position in the global ranking of 190 countries.

According to the UAE's Ministry of Economy, a total of 532,000 business licenses were issued across the Emirates by the end of August, with Dubai and Abu Dhabi accounting for 85 per cent of the total at 453,000, While Dubai accounted for 249,000 or 46.8 per cent, in Abu Dhabi, a total of 77,406 licenses were issued.

The UAE extends the flexibility to do business anywhere in the country. Choices of locations include free zones, industrial areas and commercial buildings.You can setup one of two locations of business in UAE-

·         Running a business in the mainland

·         Running a business in a free zone

Business setup in the mainland:-

The UAE Government introduced the Bashr service to start a business. Bashr is an integrated eService, which enables investors to establish their businesses in the UAE within 15 minutes through a unified online platform.

Steps:

•  Identifying a business activity
•  Selecting an appropriate legal form
•  Registering the trade name
•  Applying for an initial approval
•  Drafting a Memorandum of Association and local service agent agreement
•  Select a business location
•  Get additional government approvals
•  Submit documents and pay fees

 Important Websites:

•      Abu Dhabi –          Department of Economic Development
•      Ajman –               Department of Economic Development
•      Dubai –                Dubai Economy
•      Fujairah –             Fujairah Municipality
•      Sharjah –             Economic Development Department
•      Ras Al Khaimah –  Department of Economic Development
•      Umm Al Quwain – Department of Economic Development

Business setup in free zone:-

Setting up a business in a free zone is relatively easier. Free zone authorities require minimum paperwork and duration.

Steps :

•  Determine the type of legal entity
•  Choose a trade name
•  Apply for a business license
•  Choose an office space
•  Get pre-approvals, register your business and get your license

In a free zone, you can set up one of the two types of companies: Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.) & Free Zone Establishment (FZE).

Important Websites:

• UAE Labour Law -                         Ministry of Human Resources and Emiratisation

• Resolutions & circulars -                Ministry of Human Resources and Emiratisation

• International agreements -            Ministry of Human Resources and Emiratisation

• UAE Trademark Law -                    Abu Dhabi Government

• Protection of Intellectual Property - Abu Dhabi Government

If you have the desire to establish a Company in the UAE, and reap the benefits of investing in the world’s most rapidly growing economic market, we invite you to view our profile Emirates Advocates, which covers all our practice areas and which will provide you with an insight into the scope of legal services.

 Source:government.ae