by Establishing a limited liability company (LLC) is the first step in business setup in UAE. Once you have established this company, you must apply for a business license or freelance permit in Dubai. If you’re planning to start a website, you must create a Privacy Policy and Terms and Conditions. You must also find a sponsor and apply for a trade license. The process can take a few months depending on the type of license you need.
Forming a Limited Liability Company
There are several steps involved in forming an LLC in Dubai. The first step involves getting the name of your company approved. You can do this by requesting a letter of initial approval from the Dubai Department of Economic Development (DED) that states that there is no objection to your LLC formation. Once the letter of approval is granted, you can proceed to the next step. This step is important for your LLC to be legally recognized in Dubai.
Applying for a Trade License
Once you’ve chosen your business name, the next step is to apply for a trade license. Trade licenses can be obtained from the Department of Economic Development, the municipality, or the management authority of a free zone. You can also enlist the help of a company formation expert to handle the entire application process for you. To avoid unnecessary hassles, consider hiring an advisory firm to help you set up your business.
Finding a Sponsor
If you’re setting up a business in the UAE, you might be wondering if you need a sponsor to set up shop in Dubai. While there are several options, it’s usually best to find a local sponsor if possible. This way, you’ll be less likely to run into any problems along the way. If you want to be sure that the sponsorship you receive is legitimate, here are some things you should keep in mind.
Applying for a Professional License
A professional license is required for setting up a business in Dubai, UAE. The license gives foreigners equal rights in running their company as they would if they had a limited company. An expired license can land foreigners in trouble. A professional license in Dubai allows for a variety of business activities and allows for a flexible market. There is no additional income tax or corporate tax on profits. Moreover, the renewal of a professional license is easy, and the cost of the license is very low. Business engagements are also protected by the DED, so you need to submit a completed application form and copies of your passports to obtain your license.
Forming a Holding Company
Setting up a business in UAE requires you to comply with certain rules and regulations of the UAE Company Law. This law requires that the holding company have a management board and appoint a director for each subsidiary. You must ensure that your subsidiaries have the necessary resources to carry out their business operations. The shareholders of the holding company must appoint a director for each subsid.
Source: https://sorp.ae/en/
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