Dubai's economy has confirmed that the process of registering new companies and issuing trade licenses is quick and easy, which reflects positively on Dubai's global competitiveness as the ideal platform for the expansion and sustainability of regional and international companies.
She explained that the launch of companies in Dubai has become faster and easier than ever, in line with the vision of Dubai's economy to help business owners to launch and expand their business without the need for lengthy operations and procedures.
She added that if the businessman wants to establish an economic establishment (institution or company) in the Emirate of Dubai, it must register with the Dubai Economy concerned with the registration and licensing of institutions and companies in the Emirate.
To start the establishment of an economic facility in the Emirate of Dubai, eight steps must be completed:
1- Determining the economic activity of the establishment:
Identification of the activity is the first step in the process of issuing the trade license, as it is through the activity identify the parties associated with this activity, and the legal forms allowed for the activity. There are more than 2,200 economic activities available in the Emirate of Dubai, which are divided into different groups: commercial activities, industrial activities, professional activities and tourism activities.
The type of license is related to the type of activity. If the license activity is professional, the type of license is “professional”. If the license meets more than one type of activity, we take the largest activity. Industrial, commercial and professional activities can be combined provided that the activities are homogeneous or a permit is issued for the activity to be added.For example, if commercial and professional activities are combined into a single license, the type of license is commercial because the commercial activity is the largest (this does not apply to tourism activities).
Although Dubai Economy is the only entity responsible for licensing economic establishments in the Emirate of Dubai, it is important to know that some economic activities are subject to other local and federal entities working to regulate the practice of these activities within terms and conditions set by the laws and regulations of these entities.
2. Defining the legal form and parties:
In determining the legal form of an economic facility in Dubai, the type of company, its activities, the number and nationality of the partners, and the division of the partners' shares, should be taken into account. Legal.
3. Identification and reservation of trade name:
The trade name is related to the establishment, and is unique to it and distinguishes it from other establishments. The trade name plays an important role in the market value of companies and institutions, as they are usually estimated within the assets of the company, and the value of the brand name and brand is calculated on the basis of the company's net present and future revenues.
4- Applying for the initial approval certificate:
The Initial Approval Certificate is a document proving that the Dubai Economy represented by the Commercial Registration and Licensing Sector does not object to the establishment of the economic establishment (whether an institution or a company), stating that it is possible to proceed to the next step to obtain a trade license.
Prepare the articles of incorporation or service agent agreement
Depending on the legal form of the company, a drafting and signing of a Memorandum of Association may be required, and in some cases a local service agent or company agent agreement may be required.
6 - Choose the location of the company and document the lease
All companies in Dubai must have a physical address in the emirate according to a lease contract approved by the Dubai Real Estate Regulatory Authority (Ijari).
7. Obtaining regulatory approvals (if necessary)
Some commercial activities require special clearances for licensing by government (federal or local) regulators. In the event that the activities included in the trade license require the approval of one or more of the regulators of the activity, they shall be reviewed for compliance with their requirements and required documents.
8. Receiving the trade license
The license will be received after fulfilling all its requirements from the Dubai Economy concerned with issuing the licenses.
The commercial name of the facility is its own and distinguishes it from others.