Setting up a business in the UAE mainland can be a rewarding endeavour. This blog post will provide you with a comprehensive guide on how to apply for mainland company formation in the UAE, outlining the necessary steps and requirements.
Determine the Business Activity:
Before starting the application process, it’s important to identify the business activity you wish to engage in. The UAE has a specific set of regulations for different types of businesses.
Choose a Local Sponsor:
One of the key requirements for mainland company formation is the need for a local sponsor or a UAE national partner who will hold a 51% share in the company. Selecting a reliable and trustworthy local sponsor is crucial.
Choose a Company Name:
Selecting a unique and appropriate company name is vital. Make sure the chosen name complies with the UAE’s naming guidelines and is not already registered.
Prepare the Required Documents:
Gather the necessary documents for the application process, which typically include a business plan, passport copies of shareholders and directors, memorandum of association, and a no-objection letter from the sponsor.
Obtain Initial Approvals: Submit the required documents to the Department of Economic Development (DED) or the relevant authority in the respective emirate. Once the initial approvals are obtained, you can proceed to the next steps.
Lease an Office Space:
As part of the mainland company formation process, you need to lease a physical office space. Ensure that the office meets the specific requirements set by the authorities.
Finalize Legal Procedures and Licensing:
Complete the legal procedures, including signing the memorandum of association, obtaining the necessary approvals, and applying for the trade license. The DED or the respective authority will issue the trade license upon successful completion.
Employee Visa Process:
If you plan to hire employees, you will need to initiate the visa process for them. This involves applying for employment visas, labor cards, and residence permits.
Setting up a mainland company in the UAE requires careful planning and adherence to legal procedures. By following this step-by-step guide, you’ll be well on your way to starting your business venture successfully.