Business setup in Dubai mainland opens the gate to several lucrative business avenues in the UAE for Dhaka’s business investors. Additionally, you get to work directly with the Department of Economic Development (DED) alongside 100% foreign business ownership.
All of this is possible, thanks to the recent amendments to the Company’s Law. You need to partner with a local service agent depending on your business activities and obtain a mainland company licence.
Moreover, the business consultants at the Shuraa Dhaka branch make the company establishment process easier for you. How? By taking care of all the legalities involved in mainland company formation in the UAE.
How to set up a Dubai mainland business?
Setting up a mainland company is straightforward when you follow the right steps. Here’s a stepwise summary of the same to make it easier for you:
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Finalise the legal structure
Numerous legal structures exist in the UAE’s administrative framework. In Dubai, you can form an LLC (limited liability company), a joint venture, a sole proprietorship, and many more.
A local service agent can assist you with different legal procedures without having any shareholding in your firm. In addition, after you’ve received authorisation from the government, you’ll need to make a list of all the business operations you wish to conduct via your mainland business Dubai.
The DED maintains a list of over 2000 business activities from which owners can select the ones that best suit their needs. Furthermore, 1000+ activities also qualify for complete foreign ownership in the mainland region.
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Reserve a trading name
In Dubai, all legal companies must have a registered business name. It’s a crucial step to establish a venture here since you’ll require the reservation receipt for a trade licence.
Moreover, you’ll have to pay an extra charge if you want to use a foreign trading name. When finalising your list of preferred trading names, be sure to follow all the naming convention rules.
There should be no derogatory phrases or words in the name that adversely affect someone’s feelings, beliefs, or religious convictions.
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Secure office space
It’s critical to have an office space in Dubai since it serves as your official communication address. This is the sole address to which official letters and formation confirmation paperwork are delivered.
Renting office space provides a number of financial advantages that’ll benefit you in the long term. Dhaka’s business aspirants can also apply for virtual office space in the UAE. How? By simply communicating with the legal advisors at the Shuraa Dhaka branch!
It’s an advanced option for business setup in Dubai mainland without investing in physical property. Therefore, just sign a sustainability agreement with us, and we’ll take care of the rest.
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Apply for your preferred business licence
Once you’ve completed the above steps, you may apply for the desired business licence. In addition, the type of licence you should apply for is determined by your company’s operations. It can be one of the following for a mainland company:
- Professional licence
- Commercial licence
- Industrial licence
- Tourism licence
You must also renew your trade licence on a regular basis. All you have to do is fill out the BR/1 form, check your rental agreement, and pay using the payment voucher issued by the DED.
Furthermore, company owners can get external allowances for operations that aren’t covered under your mainland licence in Dubai. Remember, you shouldn’t conduct any business activity that’s not included in your trade licence.
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Apply for visas
Dhaka’s entrepreneurs need to procure visas for themselves and their families to ensure everyone’s safe stay in Dubai. Furthermore, the number of visas you can acquire is determined by your business strategy, investment plan, and the size of your office.
To file a visa application, applicants need to contact the concerned governing authority. It’s a simple four-step process, and if your application is approved, you’ll receive your visa permits in a quick time.
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Open a corporate bank account
The last step for business setup in Dubai mainland is to open a corporate bank account for your mainland company. Thus, always choose a reliable bank as you’ll leverage this account to manage all the monetary transactions.
The business experts at the Shuraa Dhaka branch help you find the ideal banks for your business after assessing your business requirements. Hence, all you need to do is collaborate with us, and we’ll handle the rest.
What are the advantages of setting up a mainland company in Dubai?
The new-age investors can make the most of the lucrative business opportunities in the mainland region to make a name for their brand in Dubai. Here are a few advantages of the UAE mainland company formation:
- Complete ownership: business aspirants with professional licences benefit from 100% foreign ownership straight away. Moreover, foreigners can now own 100% of their businesses on the mainland and in free zones, thanks to recent modifications. You’ll need to work with a dependable LSA who can help you with paperwork and other procedures.
- Tax benefits: Dubai offers a plethora of tax benefits to investors. When you set up a business in Dubai, you won’t have to pay any corporate taxes or fees. Furthermore, the best thing is that the VAT rate is likewise set at 5% (among the lowest in the world).
- Preference for government projects: another benefit of UAE mainland company formation is the preference for government projects. You gain a competitive edge against rival companies when you have a mainland business Dubai to secure the prestigious government consignments.
How much does it cost to set up a mainland company in Dubai?
You can set up a mainland company at affordable costs when you follow the right steps and collaborate with Shuraa. The overall cost ranges between AED 20,000 to AED 50,000 for most mainland businesses.
However, these costs are subject to change depending on your venture’s legal form and operational activities. You need to make payments for:
- Company registration
- Trade name reservation
- Initial approval
- Mainland trading licence
- Office space
- LSA’s annual compensation
Some of these are one-time charges, while some are recurring. Therefore, ensure that you track these payments vigilantly.
Documents required to launch a business in Dubai’s mainland region
Here’s a curated list of the paperwork you need to manage to obtain the business licence and other approvals for your company set up in the mainland:
- List of trade names (3 to 4)
- List of business activities
- Passport copy of the shareholders
- Entry stamp or visa page
- Passport size photograph as per the protocols (size, background colour, etc.)
Set up your mainland company in Dubai!
Mainland Dubai business incorporation is a lucrative business endeavour with overpowering benefits that outweigh the few drawbacks. Hence, you can confidently launch your venture in this business zone.
When you work with the Shuraa Dhaka branch, the procedure gets much easier for the business aspirants in Dhaka. Our business specialists manage all aspects of company establishment in the Emirates. These include banking, documents, licensing, and more.
Get in touch today for a free consultation with our experts and know more about business setup in Dubai mainland!
