Mainland company formation in Dubai opens the gate to several lucrative business avenues in the UAE. You get to work directly with the Department of Economic Development (DED) and also enjoy 100% foreign ownership of your business, thanks to the recent amendments to the Company’s Law.
All you need to do is partner with a local service agent/local sponsor (based on your business activities) and obtain a mainland company license. The business consultants at Shuraa make the company incorporation process easier for you by taking care of all the legalities involved in mainland company formation in Dubai.
How to Set Up a Business in the Dubai Mainland?
Mainland company formation in Dubai is straightforward when you follow the right steps. Here’s a stepwise breakdown to make it easier for you:
1. Finalize the Legal Structure
Several legal structures exist in the UAE’s legal framework. In Dubai, you can form an LLC (limited liability company), a joint venture, a single proprietorship, and so on. Without holding shares in your firm, a local service agent can assist you with different legal procedures.
After you’ve received authorization from the government, you’ll need to make a list of all the business operations you’ll be conducting in the UAE. The DED maintains a list of over 2000 business activities from which owners can select the ones that best suit their needs.
2. Reserve a Trading Name
In Dubai, all legal companies must have a registered business name. It’s a crucial step in starting a business in Dubai since you’ll require the reservation receipt for a trade license. Moreover, You’ll have to pay an extra charge if you want to use a foreign trading name.
When finalizing your list of preferred trading names, be sure to follow all of the naming convention rules. There should be no derogatory phrases or words in the name that damage someone’s feelings or religious convictions.
3. Secure Office Space
It’s critical to have an office space in Dubai since it serves as your official communication address. This is the sole address to which official letters and formation confirmation paperwork are delivered. Renting office space provides a number of financial advantages that will benefit you in the long term.
By interacting with Shuraa’s legal advisors, business owners can also apply for virtual office space in the UAE. It’s an advanced option for launching your business in Dubai without investing in physical property. Simply sign a sustainability agreement with us, and we’ll take care of the rest.
4. Apply for your Preferred Business License
Once you’ve completed all of the preceding procedures, you may apply for the required business license. The type of license you should apply for is determined by your company’s operations. It might be one of the following:
- Professional License
- Commercial License
- Industrial License
- Tourism License
You must also renew your trade license on a regular basis. All you have to do is fill the BR/1 form, check your rental agreement, and pay using the payment voucher issued by the DED. Furthermore, company owners can get external allowances for operations that aren’t covered in your business license.
5. Manage Visas
Business owners need to procure visas for themselves and their families to ensure everyone’s safe stay in Dubai. The number of visas you may get is determined by your business strategy, investment plan, and the size of your office.
To file a visa application, applicants need to contact the concerned governing authority. It’s a simple four-step process, and if your application is approved, you’ll receive your visa permits in a quick time.
6. Open a Corporate Bank Account
The last step for mainland company formation in Dubai is to open a corporate bank account for your business. Always choose a reliable bank since you’ll be using this account to manage all the monetary transactions.
The business experts at Shuraa help you find the ideal banks for your business after assessing your business requirements. Therefore, all you need to do is collaborate with us, and we’ll handle the rest.
What are the Benefits of Launching a Company in the Mainland Region?
Business owners can make the most of the lucrative business opportunities and supportive government norms to make a name for their brand in Dubai. Here are a few advantages of the UAE mainland company formation:
- Complete Ownership: business aspirants with professional licenses benefit from 100 percent foreign ownership straight away. Moreover, Foreigners can now own 100% of their businesses on the mainland and in free zones, thanks to recent modifications. You’ll need to work with a dependable LSA who can help you with paperwork and other procedures.
- Tax Haven: Dubai is a tax haven in the full sense of the term. When you set up a business in Dubai, you won’t have to pay any corporate taxes or fees. The best thing is that the VAT rate is likewise set at 5% (among the lowest in the world).
- Preference in Government Projects: another benefit of UAE mainland company formation is the preference in government projects. You gain a competitive edge against rival companies when you have a mainland establishment to secure the prestigious government consignments.
What Paperwork Goes Into Opening a Company in the Dubai Mainland?
You need to submit the documents mentioned below to obtain the business license and other approvals for your company set up in the mainland:
- List of trade names (3 to 4)
- List of business activities
- Passport copy of the shareholders
- Entry stamp or visa page
- Passport size photograph as per the protocols (size, background color, etc.)
- Initial approval receipt and documents submitted previously
- Copy of the lease agreement signed by the Real Estate Regulatory Agency (RERA) in Dubai
- Duly attested Memorandum of Association (MoA) for all types of companies
- Approvals from other concerned government authorities
- Formal agreement letter with the local sponsor
Launch your Mainland Company Today!
Mainland Dubai company incorporation is a lucrative business endeavor with overpowering benefits that outweigh the few drawbacks. As a result, you don’t need to think twice about establishing a business in this business zone. When you work with Shuraa Business Setup, the procedure gets much easier. Our business specialists manage all aspects of company formation in the UAE, including banking, documents, and more.
Get in touch today for a free consultation with our experts and know more about business setup in Dubai mainland by calling +971 44081900. You can also send a WhatsApp message at +971 50 777 5554. For email assistance, mail your query at firstname.lastname@example.org.