With its thriving economy and strategic location, Dubai is a popular destination for businesses looking to set up in the Middle East. Setting up a mainland company in Dubai offers a range of benefits, including access to a large and diverse market, ease of doing business, and a stable regulatory environment. This article will discuss the requirements and procedures for setting up a mainland company in Dubai. See over here to know the Dubai mainland license cost.
Requirements for mainland company setup:
Before setting up a mainland company in Dubai, specific requirements must be met. These include:
- Business activity: First and foremost, you must identify the business activity you wish to engage in. The Department of Economic Development (DED) in Dubai lists over 2,000 activities that can be licensed in the emirate.
- Legal form: You must choose a legal form for your company, such as a limited liability company (LLC), sole proprietorship, or branch office.
- Local partner: In most cases, you must have a local partner who owns at least 51% of the company’s shares. However, this requirement has certain exemptions for certain types of businesses, such as professional services companies.
- Trade name: You must choose a trading name for your company not registered in the UAE. The name must also comply with the DED’s naming conventions.
- Office space: You must have a physical office space in Dubai to set up a mainland company. This can be either a commercial or industrial space, depending on the type of business activity.
Procedures for mainland company setup:
Once you have met the requirements for setting up a mainland company in Dubai, the next step is to follow the procedures for company registration. These include:
- Reserve a trading name: You must reserve a trading name for your company by applying the DED. The name will be reserved for 60 days before you complete the company registration process.
- Obtain initial approval: You must obtain initial approval from the DED for your business activity and legal form. This can be done by applying along with the required documents.
- Prepare the memorandum of association: You must prepare the Memorandum of Association (MOA) for your company, which outlines the company’s structure, activities, and shareholders.
- Obtain approvals and permits: Depending on the type of business activity, you may need to obtain approvals and permits from other government departments or regulatory bodies.