Opening a company in Dubai is an important strategic step in your entrepreneurial journey. By partnering with Itqan, you can facilitate this process and achieve sustainable success in Dubai’s dynamic business market. In this comprehensive article, we will explore step by step how to open a company in Dubai in cooperation with Itqan Company.

We will begin by explaining the benefits and advantages you will gain by cooperating with Itqan, such as extensive experience in the field of company creation, legal support, and business consulting. Next, we will focus on initial planning steps such as choosing the appropriate company type, choosing a company name, and determining the company structure.

Then, we will review the legal requirements and procedures necessary to register the company, including submitting the required documents and obtaining the necessary licenses from the relevant authorities. We will also highlight the differences between domestic companies and foreign companies and the potential tax implications.

Next, we will go through the process of opening a bank account and securing the required capital for the company. We will also explore possible strategies for obtaining a work visa and hiring local and foreign employees.

The first step in opening a company in Dubai is to choose the appropriate type of company, whether it is a sole proprietorship, a limited liability company, or a joint stock company. Next, you must determine the business activity that the company wants to engage in, which must be compatible with government permits.

After determining the type of company and business activity, the investor must select the company name, which must be unique and comply with the laws of the emirate. After that, you must submit a registration application with the Dubai Department of Economic Development and submit the required documents such as a passport and a photo of shareholders and directors.

In short, how to open a company in Dubai requires following a series of clear and precise steps, and this process can be greatly facilitated by cooperating with Itqan Company, which provides comprehensive support for establishing companies in Dubai.

How to open a company in Dubai

Procedures that must be followed to open a company in Dubai

To open a company in Dubai, you need to follow the following procedures:

1. Determine the type of company: Before starting the process of opening a company, you must determine the type of company you want to establish, such as a limited liability company (LLC), a public company, a sole proprietorship, a subsidiary company, and others.
2. Choosing a company name: Choose a suitable name for the company that complies with the laws and regulations of Dubai. You must ensure that the chosen name is not similar to the names of other existing companies and that it complies with the standards of the concerned authority.
3. Hire a legal expert: It is best to hire a legal expert or business consultant to obtain assistance with company incorporation procedures and ensure compliance with local laws and regulations.
4. Partnership Agreement: If you intend to create a joint venture with partners, you must sign a written partnership agreement that specifies the rights and duties of the partners and the distribution of profits and losses.
5. Submitting an application: Submit an application to obtain a company license to the Dubai Economic Development Authority or the competent authority, according to the type of company you wish to establish. Required documents such as a license application form, a copy of the passport of shareholders and directors, and detailed information about the chosen business activity must be submitted.
6. Payment of fees: The fees required to license and register the company must be paid. You must review the fee structure and required amounts before paying.
7. Obtaining the necessary approvals: You may need to obtain the necessary approvals from other concerned authorities, such as the Ministry of Economy or other government agencies, depending on the company’s activity and the requirements of its private sector.
8. Providing the required documents: You may need to provide additional documents such as contracts, powers of attorney, financial certificates, and a business plan, according to the requirements of the concerned entity.
9. Establishing the company: After completing all the required papers and documents, you will establish the company and officially register it with the Department of Economic Development in Dubai or the relevant competent authority. You will need to fill out the required forms and submit them along with the required documents.
10. Obtaining a business license: After establishing the company, you will need to obtain the necessary business license to start the business. You must submit the required documents and pay the fees related to obtaining a business license.
11. Opening a bank account: You will need to open a company bank account in one of the approved banks in Dubai. You can hire a financial expert to help with this process.
12. Work Visa: If you intend to work for your own company in Dubai, you will have to obtain the appropriate work visa. You can contract with human resources services or specialized consulting offices to help arrange the visa.
13. Renting a Business Space: You must secure a suitable location for your company’s headquarters in Dubai, whether it is an office or a commercial space. You can rent a place by contacting real estate agents or real estate companies in Dubai.
14. End of legal procedures: After completing all the previous procedures, you will obtain your company license and you will be ready to start business in Dubai.

How to open a local bank account for a company in Dubai

To open a local bank account for a company in Dubai, you must follow the following procedures:

1. Choose the bank: Search for recognized local banks in Dubai and compare the different services and requirements provided by them. Choose the bank that suits your company’s needs and provides the right services.

2. Submit the required documents: Contact the chosen bank and inquire about the documents required to open a company account. These documents usually include:

• A notarized copy of the company’s articles of incorporation.
• A copy of the commercial registry and necessary government licenses.
• Identity of shareholders, directors and financial commissioners.
• Company address and postal route guide.
• Details of the company’s expected financial transactions.

3. Fill out the application form: Fill out the application form provided by the bank. You will need to provide information about the company, its purposes and activities, as well as details of shareholders and financial commissioners.

4. Deposit funds: You may be asked to deposit a specified amount as an initial deposit into the new company bank account.

5. Personal interview: The bank may require a personal interview with company representatives to verify the identity and information provided and discuss additional details.

6. Approval and account opening: After completing the previous procedures and meeting all requirements, your application will be evaluated by the bank and approval will be issued. The company’s account will then be opened and the bank account details provided.

Opening a company in Dubai is a crucial investment step that requires extensive study and careful procedures. Through this article, we reviewed, in cooperation with Itqan Company, the method of opening companies in Dubai and the basic steps that must be followed to ensure the success of the business and its compliance with local laws and legislation.

After we have analyzed the basic steps of opening a company, we can move towards a conclusion that comprehensively summarizes the process:

Ultimately, setting up a company in Dubai requires careful planning and consultation with trusted local professionals. Itqan Company provides the necessary support and advice to investors who want to open their companies in Dubai, making the establishment process smooth and efficient. By following the right steps and consulting experts, investors can successfully achieve their business goals in the dynamic and growing Dubai market.

Costs required to open a company in Dubai

The costs of opening a company in Dubai may vary based on several factors such as the type of company, business size, and geographic location. Here are some sources that may affect costs:

• Licenses and registration costs: These costs include company registration fees and licenses necessary to conduct business activity.
• Real estate costs: You must take into account the costs of renting space for an office or company headquarters, and these costs vary based on the location of the place and the size of the space required.
• Costs of consulting services: You may need to use the services of consultants or lawyers to assist you with incorporation and licensing procedures, and the costs of these services can vary.
• Labor costs: If you intend to hire employees, you need to take into account the costs of payroll, benefits and health insurance.
• Marketing and advertising costs: You may need to allocate a budget for marketing and advertising to attract customers and build brand awareness.

Permits required to open a company in Dubai

To open a company in Dubai , you may need the following licenses and permits:

1. Company establishment permit: This requires submitting an official application to establish the company and obtaining official approval from the competent authorities.
2. Commercial activity license: The company’s activity must be determined and its license must be obtained from the competent authorities.
3. Build and Operate Permit: If you plan to rent office or space for your business, you may need a build and operate permit.
4. Commercial advertising permit: This may require you to publish a commercial advertisement in local newspapers or online to announce the establishment of the company.
5. Municipal License: You must obtain a license from the local municipality to operate the business in your location.
6. Health and Safety Declarations: Companies in some sectors may require special health declarations before starting work.

How to open a company in Dubai

You may be interested in: Conditions for opening a company in the Emirates

Advantages of opening a company in Dubai

There are many advantages that opening a company in Dubai can provide, and among these advantages are:

• Advanced business environment: Dubai has an advanced infrastructure and a dynamic business environment that supports innovation and rapid growth.
• Strategic location: Dubai is located in a strategic location linking East and West, making it a center for global trade and investment.
• Flexible legal legislation: Dubai offers a flexible and advanced legislative environment that supports business freedom and investor rights.
• Modern Facilities: Dubai has a wide range of modern and advanced facilities that support your business, such as airports, ports, and commercial centers.
• Large Local Market: Dubai’s large and diverse market offers great opportunities for growth and expansion for your company.
• International standards: Dubai adopts international standards in various sectors, which increases the attractiveness of investment in the city.
• Cultural Diversity: Dubai provides a diverse and multicultural environment, which facilitates communication with international clients and partners.
• Tax breaks: Some areas in Dubai offer attractive tax breaks on income and international taxes, making it easier for businesses to make better financial gains.
• Easy access to skilled workers: Dubai has a dynamic labor market that attracts skilled workers of different nationalities, which makes it easier for companies to recruit the talent needed to achieve growth and expansion.

The most important frequently asked questions about opening a company in Dubai