Because Dubai has a distinct and strategic geographical location, many people resort to investing in this city. In today’s article, we will talk about the conditions for establishing a company in Dubai for foreigners, in addition to some important details about this topic. Continue reading with us if you would like to know more details.
Advantages of investing in Dubai
The city of Dubai and the UAE offer many facilities for foreigners to establish companies within it. One of the most prominent of these facilities is the complete exemption from taxes for import and export to and from the UAE.
In addition, Dubai is currently considered one of the most successful cities in terms of economy, trade and industry. This is why many people invest in Dubai and establish companies there.
In addition to the above, thanks to the city’s strategic location, it provides you with many different opportunities for the businesses available within it.
Conditions for establishing a company in Dubai for foreigners
Here are the steps needed to establish a company in Dubai for foreigners:
1- Determine the type of economic activity of the company
The UAE provides more than 2,000 economic activities in which a foreign investor can work. It is also worth noting here that one economic license can include more than one economic activity. Determining the type of activity or type of work for the company is considered one of the most important conditions for establishing a company in Dubai for foreigners as well.
2- The legal form of the company
There are 13 types of companies allowed to be established within the Emirates. As a foreigner, you must determine the legal form of your company before you establish it.
3- Select and register the company’s trade name
As is the case with determining economic activity, selecting and registering the company’s trade name is considered one of the most prominent and important conditions for establishing a company in Dubai for foreigners.
4- Initial approval
After performing the previously mentioned steps, you must obtain initial approval. This is so that you can complete the following steps to establish a company in Dubai.
5- Conducting the articles of incorporation
One of the conditions for establishing a company in Dubai for foreigners is the incorporation contract. You must complete its procedures, and this step may differ slightly for companies within Dubai, depending on the type of company and its economic activity. It is worth noting here that the company’s location is chosen after or shortly before concluding this contract.
6- Additional licenses
Some types of companies may be required to obtain some additional licenses before obtaining a commercial license. The most prominent of these licenses are those affiliated with the Ministry of Economy, the Ministry of Justice, and others.
7- Obtaining the commercial license
Finally, after completing the previous steps, the investor can obtain his own commercial license.
Does establishing a company in Dubai for foreigners require an Emirati partner?
Among the conditions of the Emirates Investment Authority is the presence of a partner who holds Emirati citizenship for any foreign person who wishes to establish a company in Dubai, or to seek assistance from approved service offices to do so. Knowing that the presence of a partner is exempted for some specific activities, including accounting, legal, and other activities.
Activities allowed for foreigners in Dubai
There are some activities that the Emirates Investment Authority allows foreigners to practice within the country. Among these activities are:
- Trading and owning real estate within Dubai in general.
- Air transportation of various types.
- Working in providing consultations to companies within the UAE.
Activities prohibited for foreigners in Dubai
There are some activities that a foreigner cannot practice within the Emirates. The most important of these activities are:
- Any activity related to mining or investing in mining, and may include oil, gold, minerals, etc.
- Establishing or managing advertising agencies within the UAE, or providing consultations to these agencies.
- Any activity or work related to the field of aviation within the country, or buying and selling shares of UAE airline companies.
Tdabeer Company..your guide to establishing a company in Dubai
Contact us so that we can establish a company for you in Dubai, which will ensure the smoothest possible workflow, in addition to years of experience in this field.. Tdabeer Company is your way to success.
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