Company incorporation in Dubai.
Before the setup of the company in Dubai firstly you have to choose which type of company formation you are doing in Dubai (UAE).
TYPES OF COMPANIES IN DUBAI (UAE)
●Limited liability company (LLC).
●Private Joint Stock company.
●Public Joint Stock Company.
Then we will know what is the different types of requirements for formating different companies in Dubai(UAE).
LIMITED LIABILITY COMPANY (LLC):-This company must have at least 2 shareholders and maximum 50.there is no minimum share capital requirement to register LLC in Dubai.
As under the Dubai company Act,the company must have between one and five manager.
PRIVATE JOINT STOCK COMPANY:-In this company must have at least 3 shareholders and must have minimum share capital is 2,000,000 AED.the minimum share capital must be deposited in full upon the incorporation of company.
In this company not allowed to trade its share on the stock exchange.
PUBLIC JOINT STOCK COMPANY:-In this company must have at least 10 shareholders and minimum share capital is 10,000,000 AED. In this company share capital must divide into share that can be traded on the stock exchange.
PARTNERSHIP:-Here partnership divided into three parts
In this company must have at least 2 partners,and minimum share capital is 5,00,000 AED.
BRANCH OFFICE:-Branch office is an extension of the foreign parent company in Dubai.
In order to open a branch office in Dubai, you must appoint a local agent.experts of Dubai offers company registration services.
FREE ZONE:- In Dubai there are over 20 free zones dedicated to a wide range of economic activities, for example, Dubai Media City, Dubai Healthcare City, Dubai Maritime City, Dubai Outsource Zone, etc.
This company must have at least 1 shareholder and free zone establishment must have full foreign ownership.
After selecting the company which you are going to set up in Dubai, you must have to license for this.
There are three licenses that you can issue but before this, you have to choose which license is required for your business.
¤ Industrial license
● DOCUMENTS REQUIRED FOR INCORPORATION OF COMPANY IN DUBAI
- Must have at least no. Of shareholders and share capital which required for your company.
- Must have prepared Memorandum of Association and Article of Association.
- Company office address of Dubai.
- The company also needs to have a bank account set up with a local bank of Dubai.
- A license must be obtained in accordance with business activity.
PROCESS FOR INCORPORATION OF COMPANY IN DUBAI(UAE)
- Choose a business activity:- Firstly we have to choose which type of business we are going to start and on which free zone.for example :- media,medical,transport etc.
- Choose company name:- before committing to a company name make sure that name that includes offensive language that is forbidden, for example, that name refers to Allah, any other religious, political group such as FBI or mafia.
If you choose your business name which belongs to any person at that time that person must be a partner or owner in a company, and also must have to use the full name of that person.
- Finalize all incorporation paperwork:- After selecting the name of the company then file an Application form for name approval and also provide a copy of the shareholder's passports to relevant government authorities.
And in some free zone also need to provide NOC which means current sponsor allowed you to set up another business in Dubai (UAE).
- Receiving notification of company license:- once your name approval 's application had been processed, the government issue your with your company license.
- Open a bank account:- After the paperwork has been returned, you need to open a bank account of the company in a local bank in Dubai(UAE).
- Process your visa:- The final step of company formation in Dubai, as well as applying for your own visa, that exact number you can submit will depend on which free zone you choose for setup of company in Dubai (UAE).