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Opting for a trade license in the UAE is no more a hassle now! After realizing the hidden potential within the land of UAE, the government has taken some serious measures to promote business activities and attract big budget investors from all corners of the world. For this, some amendments in the legal laws were made to provide 100% foreign ownership to all foreigners, on a clause that a local agent be appointed by those who are willing to invest in the UAE. The local agent has to be a UAE national.
If you are looking forward to start up a new business venture in the UAE, look no further! All you need is to consult a renowned business development company. They will surely assign you a business consultant. Discuss all your plans and feasibility with him. Don’t forget to discuss your financial status with the consultant so that he plans for you accordingly. Once you are done with one-on-one meeting, let him work freely! In the meanwhile, he will work out some strategic way-out that suits your plans and fits in your budget. For this consultation, the company would charge you a consultation fee, but their assigned business consultant will help you through and through from start to finish.
Structures that you need to specify before you actually set your foot to start up a business in UAE. These structures define your business stature and eligibility criteria.
Seven Business Structures:
To register a company in Dubai, you need to have a relevant company structure. There are seven different legal structures, defined by the Federal Law. Some of the company structures are listed below:
1. General Partnership
2. Partnership in Commendams
3. Public Shareholding
4. Private Shareholding
5. Joint Venture
6. Share Partnership
7. Limited Liability
Procedure to Register a Company in Dubai:
Once you have decided the legal company structure, you need to follow 5 steps to set up a business company:
Step 1: After all the research and relevant inquiries, you need to decide a local sponsor. It is best advised to be very vigilant while choosing a local collaborates and try your best to keep a professional advocate while signing a partnership deed, to know that there are no hidden clauses involved.
Step 2: With mutual understanding with your partner, decide a company name and get it registered from Department of Economic Development (DED)
Step 3: Once you have signed in to register your company name, set your foot to look for the best possible office space in town and sign a legal tenancy contract. IT is must to have a tenancy contract to get a final registration from Department of Economic Development (DED)
Step 4: Furthermore, you need to make a memorandum of Association with your collaborator and submit it to the DED
Step 5: Jot down all the legal documents along with MOA and license application and submit it at Department of Economic Development.
After following all of the above-mentioned five steps, you are liable to make the charges and fees involved. After the submission of fees and charges, your registration will be issued within 5 weeks.
Summary:
Read this article to know more about the company registration process and eligibility to opt for a trade license in the UAE.
Dizkover
A Guide to Opt for UAE Trade License
Updated January 17, 2014 ● 548 views
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This is the default board for everyone if you cannot find an appropriate board for your post. You can use hashtag "#" in your title to assign tag on your post.
Rules
This website is a clean site. The admin will delete all spams and any offensive or inaapropiate posts.
Opting for a trade license in the UAE is no more a hassle now! After realizing the hidden potential within the land of UAE, the government has taken some serious measures to promote business activities and attract big budget investors from all corners of the world. For this, some amendments in the legal laws were made to provide 100% foreign ownership to all foreigners, on a clause that a local agent be appointed by those who are willing to invest in the UAE. The local agent has to be a UAE national.
If you are looking forward to start up a new business venture in the UAE, look no further! All you need is to consult a renowned business development company. They will surely assign you a business consultant. Discuss all your plans and feasibility with him. Don’t forget to discuss your financial status with the consultant so that he plans for you accordingly. Once you are done with one-on-one meeting, let him work freely! In the meanwhile, he will work out some strategic way-out that suits your plans and fits in your budget. For this consultation, the company would charge you a consultation fee, but their assigned business consultant will help you through and through from start to finish.
Structures that you need to specify before you actually set your foot to start up a business in UAE. These structures define your business stature and eligibility criteria.
Seven Business Structures:
To register a company in Dubai, you need to have a relevant company structure. There are seven different legal structures, defined by the Federal Law. Some of the company structures are listed below:
1. General Partnership
2. Partnership in Commendams
3. Public Shareholding
4. Private Shareholding
5. Joint Venture
6. Share Partnership
7. Limited Liability
Procedure to Register a Company in Dubai:
Once you have decided the legal company structure, you need to follow 5 steps to set up a business company:
Step 1: After all the research and relevant inquiries, you need to decide a local sponsor. It is best advised to be very vigilant while choosing a local collaborates and try your best to keep a professional advocate while signing a partnership deed, to know that there are no hidden clauses involved.
Step 2: With mutual understanding with your partner, decide a company name and get it registered from Department of Economic Development (DED)
Step 3: Once you have signed in to register your company name, set your foot to look for the best possible office space in town and sign a legal tenancy contract. IT is must to have a tenancy contract to get a final registration from Department of Economic Development (DED)
Step 4: Furthermore, you need to make a memorandum of Association with your collaborator and submit it to the DED
Step 5: Jot down all the legal documents along with MOA and license application and submit it at Department of Economic Development.
After following all of the above-mentioned five steps, you are liable to make the charges and fees involved. After the submission of fees and charges, your registration will be issued within 5 weeks.
Summary:
Read this article to know more about the company registration process and eligibility to opt for a trade license in the UAE.