Registering a new company in UAE isn’t rocket science nowadays. Only right consultant & steps to be choose for the setting up. Dubai is well-known for entrepreneur’s safety and government support to the companies. One of the fast growing sectors in Dubai/UAE is Advertising and associated activities. Advertising is a very vast and good revenue generation industry.
Activities under the Advertising Group:
Assortments of activities are available in Advertising group. Activity can be choosing as per the prerequisite and budget. Three type of category is available e.g. Commercial, Industrial and Professional.
Significant point to be remembered relate to the activities, which are selecting from the same group and license type. For Example; Professional activities can’t be added in same license or can’t be merged into the commercial activity or industrial activity into commercial.
Observation during the setup:
When we initiated the procedure, steps were lengthy but uncomplicated. Firstly, got the initial approval (Initial Approval Certificate, IAC) by submitting the all relevant document including the passport copies to Department of Economic Development (DED). More documents can be asked as per the requirement by DED. Trade name reservation and payment (Trade Name Certificate, TNC) is second stage and memorandum signature in court with all partners is third stage.
During the process, firstly internal approval will be taken i.e. Municipality department, chamber of commerce and ministry of Economy.
National Media Council which is Government body, issues an Approval and It depends on the activities usually. Some activity approval Fee is between AED 5,000 to AED 10,000. Final approval fees can be obtained by submitting all activities through NMS’s Performa invoice. It might take 2-3 week usually for getting the approval from the NMC. DED and NMC might ask to get some other external approvals but it varies activity to activity.
Once IAC and TNC is ready, Office rental contract can be registered under the new company name. Minimum office requirement to setup any license under DED is 200 Sq/Ft. It also depend on activity, some activity need 500 Sq/Ft. Rent for the office also varies location or Area.
After getting the all Documents and Approvals, it will be submitted to Department of Economic Development (DED) and License can be getting after the final payment.
This article is written by Mr. Muhammad Rashid (Business Consultant) working at flyingcolour business setup services.