The Arabian Gulf region has long been known as one of the prominent regions in entrepreneurship due to its strategic location, perhaps one of the most prominent of these countries is the Emirates, which has become an ideal location for conducting many activities, this is why many investors are looking forward to being present in its markets and benefiting from all the investment privileges that it provides to them, therefore, they are looking for the steps for establishing a company in Dubai for Gulf nationals, the establishment fees, and other details mentioned in our article.
Steps for establishing a company in Dubai for Gulf nationals
The steps for establishing a company in Dubai for Gulf nationals can be skipped with all the details and time. It entails when dealing with a management company. This is because it is one of the most important companies and legal and official advisors who are able to establish companies in only 3 days. As for the establishment steps that the company undertakes, they are as follows:
The first step
The first step in establishing companies in Dubai for Gulf nationals is to define the goal. And create a good study of the markets to identify their current capabilities. And what they need from the activity provided, then reformulate the goal in a strategic way that can be implemented on the ground.
This study must also address all administrative, financial and investment aspects of the project in what is known as the feasibility study.
The second step
Identifying the requirements for establishing a company represents the second step in establishing it. Which depends entirely on the general activity of the company. In addition to the list of sub-activities desired to be practiced and many other factors.
Because the requirements for incorporation vary depending on the type of company and the Emirate in which one wishes to establish it. It is necessary to seek assistance from a company that provides incorporation services, such as Tasyeiir company.
The third step
Searching for success partners who are passionate about identifying goals and exceeding expectations. This is why it is necessary to identify or choose an establishment office. That guarantees obtaining all establishment services from one place, such as a management company.
Which provides experts and specialists who have the ability to provide the best consultations. And work related to establishing companies for small and large investors in Dubai and throughout the Emirates. This is because professional experience makes a clear difference in the method of completing tasks, the necessary timing, and the cost. Therefore, the company must be used.
Conditions for opening a company in Dubai for Gulf nationals
Before starting to follow the steps of opening a company in Dubai for Gulf citizens. It is necessary to become familiar with the conditions for its establishment and to be fully aware of them. It is worth noting that these conditions vary based on the general activity and legal form and are as follows:
- Choose the general activity in addition to the list of sub-activities you want to practice. The UAE provides a list containing more than 2,100 diverse investment activities.
- Determine the appropriate license, as there are 3 basic types of licenses: commercial, industrial, and professional.
- As well as, choose an appropriate legal form for the company. Knowing that all forms are available to Gulf citizens.
- Availability of minimum capital, which varies based on the project feasibility study.
- Issuing and authenticating legal papers and documents related to the company’s establishment. In accordance with the requirements of its judicial authorities.
The cost of establishing a company in Dubai
Although there are many procedures and requirements for establishing companies in Dubai. The cost for Gulf residents is much lower than expected as a result of the exemptions provided by Dubai. And the Emirates based on the Gulf Cooperation Council agreement. The most prominent costs are as follows:
- The cost of reserving and registering the trade name, which depends on its specifications.
- As well as, fees for obtaining the commercial register in addition to the required license. Which also depends on the company’s activity.
- The cost of registering and advertising the company based on the recommendations of the relevant committee. In addition to the registration fees at the Chamber of Commerce.
- Fees for legally documenting documents, including lease contracts, establishment, and agreements.
- The cost of the project’s feasibility study in addition to hiring workers, providing the company’s headquarters, etc.
Privileges of opening a company in Dubai for Gulf nationals
There are many privileges provided by Dubai, or the Emirates in general, to Gulf citizens who wish to invest in it and open and establish companies in any region there, perhaps the most prominent of which are the following:
- All Gulf investors, whether private or legal persons, are allowed to practice commercial, professional or industrial activities, free zones or the mainland without facing problems. In addition to accessing all the powers of a citizen investor without compulsory participation by the state.
- A Gulf citizen can enjoy the right to reside and travel with a civil ID, and this waives all procedures imposed on him.
- He has the right to choose the appropriate legal form for the company. Including joint stock companies, without being bound by any specific patterns, as is the case with foreign investors. In addition to the right to own 100% of residential and commercial real estate.
- Facilitating commercial and investment transactions. This is where a customs union was established in 2003. In order to support all national products among the Gulf Council countries without customs restrictions.
- Obtaining health and social benefits that promote full equality among GCC citizens to encourage the growth of common foreign markets.
Tips for establishing a successful company in the UAE
There is a large financial fine imposed on violators when establishing a company. Whether the violation is related to specifying a wrong license or anything else. Therefore, it is necessary to follow some tips to establish the company successfully and legally, which are as follows:
- Constantly searching for value for money. This means choosing a suitable place for the company and not caring about the price.
- Inquire about the banks present in the region in addition to the banking services available. As some banks refuse to provide banking services to startups in some jurisdictions.
- Not focusing on increasing profit opportunities in the first year. But rather making sure to reach the target markets in addition to monitoring revenue streams and the appropriate investment return for the company.
The steps for establishing a company in Dubai for Gulf citizens vary based on the type of work or activity desired to be practiced. Despite this, there are many facilities and exemptions that the UAE government guarantees to all citizens of the Gulf Cooperation Council regarding establishment, cost, and activities practiced. Tasyeiir Company offers the possibility of establishing companies in the shortest possible time.
You can also follow us on Tasyeiir Company’s social networking sites to benefit from and obtain administrative services:
Through its sites on Instagram from here.
LinkedIn from here.
Through Facebook from here
