Establishing a business in Dubai is not as easy as you may think of it. If truth be told, there are a number of regulations and laws that you need to follow to get started with it. Given below are a few tips to help you get started with your company formation in DMCC Dubai:
Information about company registration
Before anything else, it is extremely important for you to get your company registered in the UAE. For this, the best thing for you to do in this regard is that of taking on the services of a reliable legal services team. The fact of the matter is that with their help, it would be possible for you to avoid having to deal with bureaucratic hurdles and tons of paperwork. On the whole, taking on the services offered by a PRO firm can prove to be extremely beneficial for you.
If you wish to do so by yourself, you will have to register your company at the Department of Economic Development or DED. Apart from that, you will have to acquire basic approvals from the Licensing Section of the department. It will also be necessary for you to register for membership at the DCCI or the Dubai Chamber of Commerce and Industry.
Finding a sponsor
The legal requirements in this regard are rather strict. If you are interested in establishing your business outside the free zone, it is legally required for you to find a sponsor for your business. This sponsor has to be a local resident of the UAE. You need to bear in mind the fact that the sponsor will acquire 51% of the interest of the business. While you are at it, you need to know that the sponsor will take complete responsibility of your business and ascertain the authorities that all legal liabilities will be fulfilled.
However, if you do not wish to share equity of your business with anyone, it is highly recommended for you to establish your business in a free zone. This is because businesses in the free zones are not required to have a sponsor and there will be no need for you to share the interest of your business. However, before making a decision, consider all the different elements that you will miss out on by establishing your business in a free zone. Click for more info in this regard and to get started with acquiring expert services that will help you establish your business in Dubai.