Dubai is a thriving business hub that attracts entrepreneurs from all over the world. Setting up a business in Dubai can be a challenging process, as there are several legal and regulatory requirements that entrepreneurs must meet. In this article, we will discuss the top 5 legal and regulatory requirements for business setup in Dubai.
One of the most important legal requirements for business setup in Dubai is obtaining a business license. There are several types of business licenses in Dubai, such as a commercial license, industrial license, and professional license. The type of license required depends on the nature of the business activity. To obtain a business license, entrepreneurs must submit the necessary documents to the Department of Economic Development.
Another important legal requirement for business setup in Dubai is company registration. Entrepreneurs can choose to register their business as a Limited Liability Company (LLC), a sole proprietorship, or a partnership. The registration process involves submitting the necessary documents to the Department of Economic Development and obtaining the necessary approvals from relevant authorities.
LLC companies in Dubai must have a local sponsor who holds 51% of the company's shares. The local sponsor must be a UAE national or a company wholly owned by UAE nationals. The local sponsor provides guidance and support during the business setup process and is responsible for obtaining the necessary permits and licenses.
LLC companies in Dubai must have a physical office space. The office space must be in a designated business area and must meet the necessary requirements set by the Dubai Municipality. Entrepreneurs can choose to rent or purchase an office space depending on their budget and business needs.
Entrepreneurs and their employees must obtain the necessary visas to live and work in Dubai. The visa requirements depend on the type of business activity and the number of employees. If you need help moving to Dubai, talk to us about our Dubai Visas and Permits Services; we'll secure the work permits and residency visas you need to live and work in Dubai.
Setting up a business in Dubai requires entrepreneurs to meet several legal and regulatory requirements. Every non- UAE national or company requires the services of a Public Relations Official (PRO), when it comes to living and working in Dubai. As corporate PRO service specialists, Time & Motion is ready and waiting to help you with all of the visas, licenses, permits and regulatory support that you need to live and work in Dubai.
By following these requirements, entrepreneurs can establish a successful business in Dubai's competitive market. It is important to seek professional advice and guidance to ensure compliance with all legal and regulatory requirements.