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Are you looking to set up a new business in Dubai? If so, this is your go-to guide. We’ll take you to step by step through the process of starting a new business in Dubai. From understanding what’s required for registration and how long it will take, to figuring out your company structure and tax obligations – we’ve got you covered! For a new business in Dubai, you’ll need to follow the below steps
1.Business Establishment Certificate (BEC) Registration
2.Company Name registration (with DIFC & DXB)
3.Tax Number & value-added tax registration number
4.Register your company at the Ministry of Labor and Social WelfareDubai (MoLASW)
5.Company bank account registration with DIFC & Dubai Central Bank
6.Company bookkeeping and accounting services setup in Dubai
7.Tax advice for your new business in Dubai The following table outlines the steps you need to take to set up a new business in Dubai: Business Establishment Certificate (BEC) Registration
The Business Establishment Certificate (BEC) is a requirement of the Dubai Economy Department You’ll also need to submit your BEC application, as well as your company name registration documents to complete your new business setup in Dubai Freezone. Here’s what you need:
Company name registration document from the Dubai Government Center for Incorporated Companies (DGCC)
You need to submit your company name registration document from the DGCC. This should be done prior to submitting your BEC application.
Company name translation (if not in Arabic) & stamp duty payment
If your company name is not in Arabic, you’ll also need to have it translated and pay stamp duty for its use. Stamp duty of Dhs 5,000 is payable on each name for companies located in free zones and Dhs 8,000 for those established within the boundaries of Dubai (including Umm Al Quwain). You must make an appointment with the DGCC translation department prior to sending your documents over.
For further information regarding BusinessEstablishment Certificate registration, visit the Dubai Economy Department.
Company Name Registration (DXB & DIFC)
Once your company has been registered with the DGCC as above, you’ll need to submit business name registration documents to the Dubai International Financial Centre (DIFC). The company name length must be between 3 and 15 characters long – including spaces. You must also pay a Dhs 3,000 fee for this submission.
Dubai Chamber of Commerce & Industry (DCCI)
If your company name is not in Arabic, you’re also required to submit your name along with its translation and stamp duty payment to the DCCI within 30 days of registration. For further details, visit the DCCI website Register with the Ministry of Labor and Social Welfare Dubai (MoLASW)
The MoLASW is responsible for company registration in Dubai. To do so, visit their website, fill out a form and submit your documents. This will include Company name translation (if not in Arabic) & stamp duty payment.
For further information regarding MoLASW registration, visit their website. Register your company at the Ministry of Labor and Social WelfareDubai (MoLASW)
You’ll be required to submit documents including Business name translation (if not in Arabic) & stamp duty payment
If your business is a DIFC registered limited liability partnership (LLP), you’ll need to provide the following additional documentation:
- Notarized certificate of LLP structure, agreement of members & partners and active partners.
- Power of attorney for each partner and manager. This document must be submitted in Arabic together with its translation into English or French by a qualified translator authorized by MoLASW.
- A copy of civil ID/passport for each partner and manager.
Company bank account registration with DIFC & Dubai Central Bank
With your Business Establishment Certificate (BEC) in hand, you can then submit your company’s branch address and application form to open an account at the DIFC branch of either migrates NBD Bank, Mashreqbank or Standard Chartered (SCB) bank.
Opening a bank account will also require you to apply for a business visa sponsorship from the DIFC’s immigration department so that you can own and operate your Dubai company legitimately.
Submit an application at the Dubai Central Bank
You must submit your application form for a central bank clearance certificate to set up a new bank account in Dubai. This will be required by the DIFC Bank for opening an account while your Business Visa is going through immigration processing.
Register with the Dubai Naturalisation and Residency Department (DNRD)
You must register your business’s address and details of each shareholder/partner and submit the required documents to the Dubai Naturalization and Residency Department (DNRD).
The average processing time for business visa applications from DIFC registered companies is 10-15 working days. However, this may vary depending on your application and personal circumstances. You can check current processing times at Immigration.
Conclusion
If you’re looking to start a new business in Dubai, we’ve got the guide for you. From registration and company structure to understanding tax obligations, our comprehensive list of steps will lead you through every step necessary for startup success! Want more information? Speak with one of our team members today about how they can help your next project get off on the right foot. As part of that assessment process, we’ll take an honest look at what has worked well for other organizations like yours and what hasn’t – all so that your organization can have better chances of succeeding from day 1. Ready to begin or need another perspective before beginning? Get in touch with us today!
