Business setup in Dubai is a daunting task and one that requires diligence and care. Without having the right guidance and corporate counseling, it is easy to lose track and direction in a very competitive environment. The UAE has a very lucrative and modern corporate infrastructure which is why it is an entrepreneur’s top choice for business setup in Dubai. Despite providing tremendous growth opportunities, the process of business setup in Dubai can be tiresome and filled with hassles. This is why if you’re looking to start a mainland business setup in Dubai, RAS corporate advisors are your friends. This kind of business provides millions of people with futuristic opportunities that allow them to increase the scope of their operations. So, here is all you need to know about setting up a mainland company in the UAE:
How to start a mainland company in Dubai?
With a systemic approach, a mainland company can be formed in the easiest way. Although this entails some difficulties compared to other types of business setup in Dubai, it is one of the simplest ways to start a lucrative corporate structure. Here is what you need for it:
• A reliable local sponsor – for a mainland company set up in Dubai, you will need a local sponsor for your mainland company. This Emirati sponsor will own 51% of the shares in your mainland setup while you will be the owner of 49% of your company’s remaining shares. The Emirati shareholder is not necessarily an investor however this sponsor will be the majority stakeholder in your business,
• DED registration – for a mainland company set up in Dubai, you will have to get in touch with the department of economic development to get your business registered. This will allow them to issue you a license so you can start running your mainland company in a lawful manner.
• Verifying the address of your office – the Dubai Municipal Corporation will verify the physical address of your business setup in Dubai plus you will be required to fulfill a few processing procedures before you apply for your license.
The two types of mainland company license you can obtain:
• Commercial business license – this is the more common type of license for mainland business setup in Dubai and requires 51% of the shares to be under the sponsor’s name
• Professional license – under this type your ex-pat holds 100% shares
The Benefits of a mainland company
• Fully functional and unhindered trading will allow you to work with other businesses anywhere in the world
• You can easily take up government projects and grow in the public vertical for companies. This will allow you to set up your business in a more solid manner
• You will have a solid presence since you can get an office anywhere in UAE easily which will enable you to access the local market and its benefits thus providing you with a credible corporate presence
• For a mainland company setup in Dubai you do not need any minimum capital requirements