Overview of Company Registration on Mainland Dubai
Dubai is undoubtedly an international thriving business hub. Our business setup in mainland can make it easier for investors to put up their business in the city.
Following are the facts about Mainland Company formation in Dubai.
- Dubai’s developed economy and business environment provide the right combination of infrastructure and services to match prevailing international standards.
- From 1st June 2021 , Foreign investor can own 100 percent shares in limited liability company for certain designated commercial activities.
- Currently, the country hosts people from at least 200 different nations across the globe, making the region a leading global business hub.
- The Government has stepped up its efforts to make Dubai a business-friendly destination by implementing IT-integrated systems and training its state officials on how to handle various Government departments with smart digital technology. Most importantly, these systems have a user-friendly interface to facilitate easier navigation online.
- The distribution of profit and loss can be among shareholders. So, the responsibility of managing an LLC can be vested in any shareholder or even a third party.
- The government has successfully established a business setup system in Dubai. So, each business activity can be associated with specific approval regulated by a designated department like DED, Municipality, Road and Transport Authority (RTA), DTCM, Dubai Health Authority, MOH, KHDA (Knowledge and Human Development Authority) and many more.
Locations in Dubai to Setup Mainland Businesses
Dubai is located between Abudhabi on its south side and Sharjah on its north side. Old Dubai has predominantly two areas, namely Deira Dubai and Bur Dubai. Both areas are connected by the underwater Shindagha tunnel & over water bridges like Al Maktoum Bridge, Al Garhoud Bridge, and the floating bridge.
Following are the important points about the different areas to be understood before choosing the location for business setup in mainland areas:
Deira Dubai old city
Bur Dubai old city
Sheikh Zayed Road
Downtown
Business Bay
Al Barsha and Tcom
Dubai Marina and JBR
Dubai Media City
Al Qusais
Jumeirah beach road and Al Wasal Road (Meraas)
New Dubai
Al Quoz and DIP Industrial area
International city
Benefits for Mainland company formation in Dubai
1. Location flexibility and better infrastructure
Developed internal transportation infrastructure by way of public buses, metro, taxi companies, Uber, Careem, and well-defined roads and bridges. Moreover, there are many local and international law firms situated in the UAE to provide efficient legal support to businesses. In addition, state-of-the-art telecommunications provide better connectivity for smooth business operations. It also provides high-quality and strictly regulated healthcare hospitals and clinics, and each resident must have health insurance.
2. Broad working scope
Dubai has become an international destination for education by hosting the majority of world-famous universities. Because their curriculum provides internationally certified qualifications. Moreover, the mechanism promotes the tendency of the region to offer future business leaders international exposure starting from university. Additionally, it creates huge opportunities for different training institutes to set up their centers in the UAE. In 2020, during the COVID-19 pandemic, the Dubai government successfully implemented 100% online education systems in schools. Dubai houses several international financial institutions, including multinational banks and well-known auditing services companies, to fuel the growth of the UAE. It provides high-quality offices and residential accommodations. Some of the facilities include Old Dubai Desire, Bur Dubai, Business Bay, DIFC, well-developed Sheikh Zayed Road, Downtown, Dubai media city, Emirates Hills, Meydan, Dubai South, Dubai Land, Jumeirah Lake Towers, Dubai Marina, and Palm Jumeirah.
3. Access to lucrative government contract
The upcoming Expo 2021 has also added a significant increase in business activities to create an infrastructure that supports an inflow of millions of visitors, thus creating huge opportunities for MNCs and SMEs to establish their companies in Dubai, UAE. As a world-class tourism destination, Dubai has numerous attractions like the world’s tallest tower, Burj Khalifa, water parks, desert safaris, big malls, the world-famous Gold Souq, Bollywood Park, Global Village, fine dining restaurants, and world-famous nightclubs.
Mainland business setup Dubai offers unrestricted access for a company to conduct its business locally, as per its licence activity. Flyingcolour® business setup services offer in-depth knowledge and extensive experience in company incorporation. Moreover, we also assist in the process of mainland business setup Dubai based on the client’s business plan.
Types of Mainland license in Dubai
For a mainland business setup in Dubai, you must understand the different types of mainland licenses. There are different types of mainland licenses, such as:
1. Commercial license
The commercial license is ideal for companies that want to trade in buying and selling of goods. Moreover, it includes importing and exporting goods, general trading, consulting, or other related activities.
2. Professional license
This mainland license type is required for individuals or businesses that provide consultancy services, legal services, medical services, or services related to the IT sector.
3. Industrial license
An industrial business that is related to manufacturing or production needs an industrial license for the business. This license needs to be issued according to specific regulations, and it is mainly issued by the Dubai Department of Economic Development (DED).
4. Tourism license
A tourism license is required when the business activities include the tourism sector, such as travel agencies, hotels, travel consulting, and so on. This license may also need some additional approval.
5. Real estate license
As the name suggests, a real estate license is for those individuals or companies that are interested in buying and selling properties in Dubai. For real estate business setup in mainland Dubai, you have to follow some guidelines as suggested by the economic zone.
Steps Required for Business Setup in Mainland
1. Determine activity for your business
Doing business without any objective or goal will get you no good results, right? Therefore, before you begin any other procedure, it becomes important that you decide what type of business activity and the industry in which you will trade. You can come up with a variety of activities from thousands of business activities for business setup in mainland. Activities like agriculture, manufacturing, and hospitality are listed under the Department of Economic Development, and business owners are free to trade in these listed activities.
2. Choose a business location
This step comes after you have decided upon your business activities and requires you to choose judiciously in which location you plan to operate your business. Choosing a business location can be influenced by factors such as overall cost and business activity. Suppose you are engaged in an export and import business that requires a location in the UAE’s busy ports. For this, choosing business locations such as Jebel Ali, Mina Jayed, and Mina Khalid will be a good option for your business.
3. Legal structure
The UAE mainland provides various options to choose from for business types. However, LLCs are the most popular and used business structure among business entrepreneurs. LLC companies on the UAE mainland are beneficial for commercial and industrial businesses.
4. Company name
Decide what kind of company name you want to set up for your business. Your company’s name must reflect your brand’s identity, virtues, and professional values. Also, you have to keep the terms and conditions in mind before choosing any name for your company, such as offensive language and infringements of rights, and you should not defile any religious sentiments. Make sure that you comply with all the rules and regulations.
5. Trade license
For this step to be completed, you must follow the application process for a mainland trade license from DED and the documents for successful business setup in mainland, including the license form and memorandum of sponsor agreement.
6. Office space
After getting a trade license, you will need an office space for a mainland business setup Dubai. On the Dubai mainland, generally, office spaces are managed by a third party, which implies that you will get everything pre-fitted. That includes a desk, phone, and internet access. And in the form of a lease, the payment you will make is for office rent, utility bills, and the equipment you will use. The overall cost may differ depending on the type of business activity and the nature of the business.
7. Pay the fee
After submitting all the documents, pay the final fee and get the license. This will be your official recognition to conduct business activities in Dubai, Mainland.
8. Open a bank account
Prepare the necessary documents and submit them to the respective authorities. Within a few days, experts will come to you to help you with this process further.
9. Get a help from business consulting company
To make mainland business setup Dubai complex process easy, you can always rely on a respectable consulting firm like Flyingcolour business setup services. We have a deep understanding of legal terms. With us, you can feel confident and successful in your business ventures.