Dubai is one of the most beautiful as well as attracting city in the world for expat; that is to establish their business. Dubai Mainland Companies offers freedom; as well as benefits which are very unique in this part of the world. The awarding of Dubai with the Expo 20 20 Dubai mainland company formation; that is become more vital for expat then other options. Because if you setup a mainland company; then you are free to do business in uae local market. A Mainland company setup in Dubai will give you a direct access to UAE local market; that is why mainland company formation is also known as local company formation.
Mainland company formation in Dubai
Mainland company formation in Dubai has requires a local emirate national; which is also know as local sponsor or local service agent. Local sponsor is require for commercial as well as for industrial license; while local service agent is requires for professional license. In main land 51% share are reserve for local sponsor. And 49% share are for expat. However our local sponsor which we will provide you; will give you full power of attorney and will avoid any involvement; in the operations or in profit sharing.
DED is the regulatory authority for main land company; and responsible for issuing all licenses related to main land company. DED acts as a one window service center for all mainland company formation.
Benefits of Dubai mainland company formation:
- You can drive your company from any part of UAE
- Able to conduct business in Dubai mainland
- there is also no currency restrictions in main land
- Also it is 100% tax free no corporate tax
- 100% repatriation of capital and profits
- Easy availability of employment visas
- Choice of office locations across Dubai
- Also no capital is requires for a local Dubai license.
- Stable local authority, Simple incorporation process.
- Hassle free set up process to seek license as well as registration
- Flexibility to rent office anywhere in the main land.
- Wide range of license types as well as activities
- No personal income tax
- The one and only practical option for many types of business.
- You can open your office anywhere in UAE.
Process of mainland company setup in Dubai
There are 7 steps to form a mainland company in dubai.
Select business activity for mainland company in dubai:
There are more than 3000 business activities allow in Dubai; which fall into different groups as well as classes. The selection of activity and it correct class is very important. If you select a wrong class and start your business; you may be stop from doing business under that particular class. And possible to pay fine as well; so the selection of proper class is as important as breath to a soul. If you are going to select an activity which is currently not in practice in D.E.D. Then DED may create a new business activity for you.
Select legal form for Mainland Company setup in dubai:
A legal form is an explanation of what sort of business you are planning to start. When you choice a legal form for your mainland company setup in Dubai. You must take into account the business activities; business type, the nationality of owners and the ownership options. Mainland company formation in Dubai can take number of legal forms. Following are the some legal form of the mainland company setup in dubai
- Joint Ventures (JV)
- Branch Offices
- General Partnership Company (JPC)
- Public Shareholding Company (PSC)
- Private Shareholding Company (PSC)
- Share Partnership Company (SPC)
- Simple Limited Partnership (SLP)
- Partnership Company (PC)
- Civil Company (CC)
Select trade name for Dubai mainland company:
After selecting activity and it class, next step is to select a trade name. You will suggest three trade names. When choosing a name for your company you should follow general trade name selection guidelines. During the application process for dubai mainland company; you will get a payment voucher or a transaction number. Please remember the following points for trade name reservation:
- A Trade Name of Dubai mainland company is valid for 60 days
- It has to be renew within one week before it is due to expire
- Trade Name of Dubai mainland company can be renew online only once
- You have pay for your trade name on the same day as you apply for it
- A Trade Name that has already expire cannot be renew
Apply initial approval for dubai mainland company registration:
Next step in mainland company registration is Initial Approval. It is a document which says that the DED has no objection on you to start a business in dubai. It means you can take the next steps to get a business license. To apply for initial approval in dubai please remember the following points:
- You have to pay for your Initial Approval within seven days.
- You must have an initial approval certificate; as well as an initial Approval Form to obtain a license.
- The initial approval contains records of partners; legal type as well as an activities of the business.
- Initial Approval is valid for six months and is not renewable.
MOA and LSA for mainland company formation in Dubai
Depend on the legal form of mainland company formation in dubai; all the partners may need to draft and sign an MOA. In some cases, need to sign a LSA with a local sponsor; who will represent your company with concerns to license.
Establish your business location Mainland company formation Dubai:
Mainland company formation Dubai must have a physical address. Before you finalize the physical address of your company. Let me tell you that the DM has to confirm the location. You can also select to place your business in an authorized business center; and then in this case you do not need to approve your location from DM.
If one of the partners in the company is a UAE national; that is, he has a license in a specific location; then you can place your new company to the same office; as long as the space is larger than 500 sq. ft. For establishing multiple business licenses to a single location; you will need to take an approval from existing partners to DED counters.
Finial submission of documents for Mainland Company setup dubai
If you have successfully completed the steps above; you need to submit all the documents to the DED for final submission. Depend on your activity, the processing time for your final submission is up to 7 days.