How can I set up a company in the Abu Dhabi Global Market?
How to establish a business in the Abu Dhabi Global Market
The global business landscape has undergone a remarkable shift, constantly evolving in every aspect. As a result, every prospective entrepreneur earnestly pursues their desire to establish their enterprise in a strategic location. For these reasons, the Abu Dhabi Global Market has evolved, predominantly offering every enterprise a prime choice to thrive in their business. So in this blog, we have tried to encapsulate the minutiae of setting up a business in the Abu Dhabi Global Market that will allow you to explore the business dynamic abundantly.
The process of setting up a business operation in the Abu Dhabi Global Market
Follow a detailed guide on how to start the formation of the company in Abu Dhabi and pay heed to these steps.
- Choose the business type: Suppose you are planning to start a company in the UAE’s capital, Abu Dhabi, and don’t know what type of business you will need. To avert these uncertainties, you need to follow other aspects of your business. Moreover, you need to focus on your level of flexibility, your target market, and the nature of your business. Which will determine whether you want to set up a mainland or free zone business.
- The legal structure of your business: What type of legal structure you have for your business depends on what type of business you are choosing to set up, like a sole proprietorship, a limited liability company, a representative office, or a branch office. And that will further determine the management preferences and activities for your business.
- You need to select a trade name. Trade names provide the identity of your business. So always select a distinctive trade name for your business that reflects the nature of your business. Also, abide by the legal framework of the company.
- Must have a business license: To ensure smooth operations and business activities for your business, you need to register your business with the Department of Economic Development in Abu Dhabi. Based on the nature of your business, also decide what type of license you need—commercial, professional, or industrial.
- Corporate bank account: After finalizing all the legal work for your business, as a next step, you need to open a bank account at any of the banks in Abu Dhabi.
- Hire qualified employees: Nothing good will come with a scant understanding. So for this purpose, consult a business setup company that will guide you in hiring an employee for your organization. Moreover, you need to register with the Ministry of Labour and the General Authority for Pension and Social Security.
Types of business in Abu Dhabi
There are different types of business opportunities and options available for entrepreneurs and investors. Mainland business and free zone business setup are the main types that further determine the formation of businesses.
Mainland business: mainland companies are the companies that fall under the Department of Economic Development and can freely operate their business across the UAE without any restrictions.
Free zone business: companies that are built on a specific location within a designated free zone area are the free zone companies. These zones are self-contained and aim to have the primary objective of increasing foreign investment.
A business license option for your business in Abu Dhabi
The type of license you choose to run your business defines the nature of your business. The types of licenses available for your business are:
- Commercial license: Societies like trading, retail stores, and logistics firms engaged in business activities like buying and selling goods need to have commercial licenses.
- Professional license: Companies that provide services mainly related to consulting, medicine, repair, and education are required to have commercial licenses.
- Industrial license: An industrial license is for manufacturing and industrial activity. That operates the business activity of packaging of products, production, and fabrication.
Advantages of operating a company in the Abu Dhabi Global Market
- There are no restrictions on any kind of currency transactions
- The benefit of managing full repatriation of capital and profit
- Full company ownership
- Advantages of exploring modern infrastructure.
- Simple laws and rules
- The easier process of setting up a company
- Advantages of having skilled professionals
- Multiple visa options
Trust guidance for unwavering support
When setting up a company in Abu Dhabi and navigating the complexities of business setup, you must trust the best consulting companies, like Flyingcolour who always remain solicitous about the business entrepreneur who wishes to setup business in UAE’s capital Abu Dhabi Global Market. We aptly handle myriad tasks of paperwork, the legal structure of your company, approval from relevant authorities, and name registration. You can easily get your tasks done by connecting with us.
To learn more about online home business licenses in Dubai, book a free consultation with one of Flyingcolour team advisors, call +971 50 5585305, or send WhatsApp messages to +971 4 4542366. You can also drop an email at info (at) flyingcolour (dot) com.
*Please note that this article has been published on 21/12/2023 in accordance with the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
