In Dubai’s dynamic and evolving business world, starting a company represents both a challenge and an opportunity for ambitious Iraqis seeking to take advantage of the emirate’s leading business environment. This process requires a set of procedures for establishing a company in Dubai for Iraqis.

First and foremost, Iraqis must determine the appropriate legal form for their company, whether it is a sole proprietorship, partnership, or joint stock company. This choice depends on several factors, including the type of business activity planned and the financial responsibility desired.

After that, you must prepare and implement the necessary contracts and agreements to start the process of establishing the company in Dubai . These contracts include the partners’ agreement in the case of partnerships, and other legal documents necessary to register the company.

The role of legal and financial advice in this process cannot be ignored, as Iraqis must obtain the necessary advice from lawyers and financial advisors to ensure that the correct legal procedures are followed and full compliance with local legislation is achieved.

Finally, Iraqis are required to carry out all administrative and regulatory procedures necessary to register the company in the commercial and comprehensive registry in Dubai, including submitting the required documents and paying the prescribed fees.

In this way, Iraqis can successfully establish their companies in Dubai and benefit from the dynamic business environment and investment opportunities available in the emirate.

Procedures for establishing a company in Dubai for Iraqis

Procedures for establishing a company in Dubai for Iraqis

There are no special procedures for establishing a company in Dubai for Iraqis in particular. Procedures for establishing companies in Dubai are similar for all non-national investors. Therefore, you can follow the procedures for establishing a company in Dubai for Iraqis:

1. Market Study: Study the market in Dubai, identify available business opportunities, and understand the legal and regulatory requirements of companies in the sector you wish to invest in.
2. Choosing the business activity and legal form: Select the company’s business activity and choose the appropriate legal form, such as a local company, a free company in free zones, or a personal company.
3. Company name: Choose an appropriate name according to UAE laws and regulations. The availability of the chosen name must be verified and registered with the relevant authority.
4. Obtaining a work license: Apply for a work license from the responsible authority in Dubai, which is usually the Economic Development Authority (DED). You will need to submit the required documents and pay the prescribed fees.
5. Obtaining a residence permit: After obtaining a work permit, you must obtain a residence permit for the general manager and foreign employees who work in the company. You can apply for a residence permit from the relevant authority in Dubai.
6. Open a bank account: Open a bank account in one of the local banks in Dubai. You will need to submit the required documents and adhere to banking standards.
7. Establishment of Head Office: You must secure the company’s headquarters in Dubai. You can rent a commercial office or use the services of a virtual office depending on your needs.
8. Tax registration: Register the company with the Tax and Customs Authority in the emirate, and obtain a value-added tax (VAT) number if the company is obligated to apply it.
9. Insurance: Purchase the insurance required for the company. I apologize for the sudden interruption in response. Here are the follow up steps:
10. Recruiting Employees and Getting Started: Start the recruitment process and select the right employees to run the company in Dubai. Implement the necessary plans and start working based on the company’s vision and strategy.

Careful research and local consultation are advised to ensure that procedures are applied correctly in accordance with current legislation in Dubai and the UAE. Requirements and procedures may vary based on the company’s activity and the chosen legal form.

Conditions for establishing a company in Dubai for Iraqis

Establishing a company in Dubai for Iraqis requires compliance with some basic conditions and requirements. Here are some general conditions that may be required:

• Residence Permit: Iraqi founders need to obtain a valid residence permit in Dubai to establish the company.
• Local partner: In some cases, there may be a need to have a local partner who owns a certain percentage in the company according to local laws.
• Basic capital: The basic capital required to establish the company must be determined, which varies based on the type of activity and the type of company.
• Activity permit: The company’s activity must be determined and the necessary permits to practice this activity must be obtained from the local authorities.
• Legal documents: You must submit the legal documents necessary to establish the company, such as contracts, personal documents of the founders, and professional permits, if any.
• Governmental licenses: Some activities may require obtaining special licenses from the relevant government agencies, such as construction or industry.
• Tax Compliance: You must ensure compliance with all local tax laws and regulations, and register the company in the necessary tax records.
• Health Insurance: Some companies may require health insurance for employees and workers in accordance with local laws.

Costs of establishing a company in Dubai

The costs of establishing a company in Dubai may vary based on several factors such as the type of company, the size of the business, and the services required. Here are some points that can affect the cost of incorporation:

1. Type of company: The costs of establishing a company vary according to its type, whether it is a sole proprietorship, joint stock company, limited liability company, or other.
2. Basic capital: The basic capital required to establish the company must be determined, which can be different based on the type of company and the requirements of local law.
3. Registration fees: Registration costs include company registration fees, issuance fees, business licenses, and other fees required by local authorities.
4. Legal advice: You may need legal advice to help you with the incorporation process and comply with local laws, and this can increase costs.
5. Office costs: If you need a physical office for the company, you will need to pay for rent and additional office-related expenses such as utility bills.
6. Insurance: You may need to provide employee, property and civil liability insurance depending on local laws, which may increase costs.
7. Additional costs: Additional costs may arise such as tax consulting fees, marketing and promotional costs for the company, recruitment and training costs, etc.

Types of companies that exist in Dubai

In Dubai, there are several types of companies you can establish, and these are some of the common forms:

1. Limited Liability Company (LLC): A Limited Liability Company is one of the most common forms of companies in Dubai. This corporation allows shareholders to control the management of the company while offering protection for their personal assets.
2. Sole proprietorship: Individuals can establish a sole proprietorship in Dubai, in which the owner is only one person. This company is considered one of the simple and suitable options for individuals who want to start their own business.
3. Sole Proprietorship: Similar to a sole proprietorship, but with a difference in some legal aspects and responsibilities.
4. Public Joint Stock Company: This company is considered one of the forms that can be available for public subscription, and it has capital divided into shares.
5. Private Joint Stock Company: It is similar to a public company, except that it is not available for public subscription, and is under the management and ownership of a specific group of people.
6. Free Zone Company: Free zones in Dubai are distinct zones that provide a favorable commercial environment, allow the establishment of companies with simple procedures and provide benefits such as freedom from taxes and an economic license.

Establishing a company in Dubai

Papers necessary to establish a company in Dubai

The papers required to establish a company in Dubai vary based on the type of company and its activity, but generally can include the following papers:

• Application Form: It is submitted to the concerned authorities to begin the process of establishing the company.
• Memorandum of Association: This is a document that specifies the objectives and conditions for establishing the company, which must be signed by all partners.
• Articles of Association: A document that specifies the internal operating rules of the company, such as management powers, distribution of profits, etc.
• Identity documents and passports: for all founders and partners involved in establishing the company.
• Residence permit and visas: if the company is managed by people of other nationalities.
• Activity License: This is obtained from the relevant authorities and specifies the types of activities that the company can practice.
• Trade License: A document that allows a company to conduct commercial activity in Dubai.
• Necessary contracts: such as partner contracts, employment contracts, and lease contracts if the company needs an office.
• Certificate of non-objection: This may be requested by banks or financial authorities to open the company’s commercial bank accounts.
• Special permits and licenses: such as a building permit if the company plans to build a building, or a restaurant license if the company is in the hospitality sector.

Advantages of establishing a company in Dubai

Establishing a company in Dubai can provide many advantages and benefits, including:

1. Thriving business environment: Dubai is considered one of the most competitive cities in the world, providing ample opportunities for success and growth for startups and medium-sized companies.
2. Access to a global market: Thanks to its strategic location, companies in Dubai can easily access regional and global markets, making it easier to expand business and increase revenues.
3. Advanced infrastructure: Dubai has a developed infrastructure that includes airports, ports, and advanced communications and transportation networks, making it an ideal place for business.
4. Government facilities: The Dubai government provides many facilities and initiatives for emerging and medium-sized companies, including financing, technical support, and tax facilities.
5. Advanced legal structure: Dubai has a developed and stable legal system that protects investors’ rights and provides a business-friendly legislative environment.
6. Multicultural Job Market: Dubai’s diverse job market attracts global talent and provides a multicultural and multilingual work environment.
7. Advanced financial and banking infrastructure: Dubai provides an advanced financial and banking infrastructure that includes a variety of financial and banking services.
8. Entertainment and Nightlife Facilities: Dubai offers a variety of entertainment and nightlife facilities that make it an ideal destination for investors and workers.

In conclusion of this article, we take a look at the importance and attractiveness of establishing companies in Dubai for Iraqis. Dubai is one of the most prominent global centers for business and investment, making it an ideal destination for those wishing to build their companies and achieve success in the UAE and global markets.

As a developed and multicultural city, Dubai provides an ideal investment environment for Iraqis seeking to explore business opportunities and expand their scope of work. Dubai offers an encouraging climate for entrepreneurship, while providing the necessary facilities to start and operate companies efficiently and smoothly.

On the other hand, Dubai’s advanced infrastructure enhances the operational capabilities of companies, including modern communications and advanced technology, which contributes to improving efficiency and productivity.

In addition, Iraqis can benefit from the diversity of economic sectors in Dubai, giving them the opportunity to choose the best business and investment activities that suit their skills and interests.

In short, establishing companies in Dubai is a strategic and rewarding move for Iraqis, as they can benefit from the thriving economic environment and facilities available to successfully start and operate businesses in this global city.

The most frequently asked questions about establishing a company in Dubai