Establishing a business in Dubai is the dream of many entrepreneurs. The reason behind this is the vast opportunities, lucrative business environment, and quality services offered by the Dubai government. UAE mainland company formation in Dubai is a famous choice amongst many business owners around the globe. UAE mainland companies are the most developed business entities in Dubai, offer flexible expansion opportunities, and can hold a strong presence in UAE markets.
Considering all these benefits, you may also think to start planning for a UAE mainland company formation in Dubai. So, it is better to be well aware of the steps involved in UAE mainland company formation in Dubai. The detailed stepwise process for the same is given below.
What is the Registration Process for UAE Mainland Company Formation?
To register your company in Dubai Mainland successfully, make sure to keep all the required documents ready and follow the given steps:
1. Selection of Business Activities
The UAE government allows over 2000 legal business activities that can be conducted throughout the country. It is mandatory to select suitable business activities from the list provided by the DED as per the nature of your business. You must mention them in your application to get approval for legally conducting those activities throughout the country. If you conduct any other business activities apart from the ones mentioned in your application form, chances are that the government can cancel your license.
2. Procure your Business License
Once you have decided the type of activities you want to conduct in your vicinity, seek authorization to do business. To get authorization, you must register your company through DED. Based on the business activities and the owner’s resolution, the Department of Economic Development will provide all the legal rights necessary for the smooth functioning of your business.
3. Approval for Trade Name
Registering your company’s trade name can be a tricky step as it requires you to follow several guidelines. Your trade name must be clear and should not be related to any religion. It should not contain any offensive or complicated words and should not target any particular society. If you wish to use the name of a person, make sure to use the full name. If you fail to adhere to these trade name guidelines, your trade name reservation request can be declined.
4. Apply for Visa
While applying for a visa It is necessary to submit a photocopy of the passports, EID, NOC for UAE nationals, residential address, and other necessary documents of all partners and the shareholders of your company. Business consultants at Shuraa Business Setup can help you to prepare the necessary documents and acquire an investor’s visa at a low cost.
5. Draft Memorandum of Association (MOA)
Draft a memorandum of association and get it signed by all the business partners involved and the stakeholders of the company. A Local Service Agent can help you draft the MoA. You can then submit it with DED.
6. Confirm your Tenancy Contract
A lease contract (Ejari registration) is required for the completion of the registration process of your UAE mainland company formation. You can seek a government-approved Ejari typing center with the required documents for the formation of your tenancy contract. Alternatively, you can register your tenancy contract online with the help of the Ejari official app. Get your Unique Ejari code for future references.
7. Partner with Local Service Agent (LSA)
A Local Service Agent (LSA) is an individual or a corporate figure that ensures the continuity of its business in Dubai. All foreign investors must sign a contract with either a Local Sponsor or a Local Service Agent for their company. It is mandatory for the local sponsor to be a UAE national.
8. Receive Your Business License
After completing all the steps and finalizing all associated payments, the license will be issued along with the MOA in under 5-6 working days. Make sure to initiate the payment for the lisence fee within 24 hours of receiving your trade license.
What are UAE mainland company registration Documents?
For your UAE mainland company formation, several documents will be required. To make it a seamless process, a list of all the necessary documents is given below:
- Necessary Documents for the Initial Approval
- Photocopy of your and your business partners’ passports.
- Genuine copy of Naturalization identification (UAE nationals only).
- Photocopy of approved trade name certificate.
- MOA (Memorandum of Association) certificate.
- Bank reference letter for each shareholder.
- Photocopy of the passport of each Shareholder.
- A copy of the tenancy agreement form.
- Proof of Ejari Registration.
- Passport size photos.
- Shareholder address proof(PAN/Adhaar/ driving license/Voter ID).
2. Documents Required After Getting Initial Approval
- Photocopy/proof of all documents submitted for Initial Approval.
- Photocopy of office address including the plot number.
- Photocopy of the Memorandum of Association attested by the Notary Public or by UAE Embassy/Consulate.
Why should you open a company in the UAE Mainland?
There are plenty of attractive policies that make mainland companies an excellent choice for businesspersons. Some of the advantages of UAE mainland company formation are as follows:
- Availability of a wide range of business activities.
- Legal permit to do business throughout the UAE.
- No restrictions in processing legal documents.
- You do not need a yearly auditing process.
- There is no cap on the number of employment visas.
- No minimum capital is required for setting up your business.
- 100% repatriation of the capital.
- 0% corporate and personal income taxes.
- Freedom of opening multiple branches throughout the UAE.
- Permission to start private as well as government projects, unlike Free Zone.
- Can conduct professional services companies without the need for a local partner.
- Mainland permits foreign entrepreneurs to trade with the local market in the UAE.
- Availability of cost-efficient office space with the flexibility to rent/lease offices anywhere in UAE.
Connect With Shuraa
Considering so many advantages of the UAE mainland company formation, who wouldn’t want to start planning for one? With the Dubai Expo 2020 near, this is the best time to start the registration process for your company formation in the mainland region. It will provide you with ample collaborations, incentives, and expansion opportunities. Business Setup consultants at Shuraa Business Setup can provide you with more information about the Expo and assist you through the process of registration, paperwork submission and license obtaining. All you’re expected to do is connect with us, share your requirements and we will take care of the rest.
