Dubai has some of the world’s most majestic skylines and most ambitious development projects. There is a large assortment of business and residential buildings behind those enormous skylines and headline projects, with new ones apparently rising up every week. This backdrop makes Dubai one of the finest places in the world to succeed in facilities management, as indicated by estimates that the UAE’s overall facilities management business would be valued USD 6.6 billion by 2022. Naturally, such a robust industry creates chances for people in Dubai and the UAE who possess the necessary talents and determination to succeed.
The first stages in establishing a facilities management firm in Dubai are quite simple if you have the necessary knowledge.
The first step is to choose a name for your business. This is a little more complicated in Dubai since you’ll need to remember that the UAE has its own set of name rules.
As a general rule, your business name should not contain any obscene or blasphemous words, nor should it relate to well-known organisations or firms.
If you want to include your complete name in your company name, no abbreviations or initials are acceptable. It’s also a good idea to double-check that the name you want to use is available for registration. As part of the licence application procedure, a business formation specialist may handle this for you. You must also determine if you want to open your shop in a free zone or on the mainland of Dubai. If you start a business on the mainland, you can trade directly with the local market instead of utilising a local agent.
In the sector of facilities management, you may also bid on government contracts, which can be profitable.
If you establish a business in a free zone, on the other hand, you will be immune from paying any customs duty. Business owners in the UAE free zone have complete flexibility to repatriate all invested cash and profits. Foreign exchange controls and currency limitations are likewise absent.
In Dubai, you can apply for a facility management licence.
To become a fully-fledged facilities management firm in Dubai, there are a few steps to take. The first step is to submit an application for a trade licence.
If you’re establishing a business in a free zone, you’ll need to apply for a licence with the appropriate managing body. You can apply to the Dubai Department of Economic Development if you want to live on the mainland.
The application procedure in both circumstances follows the same fundamental phases. Whether you apply on your own or through a company formation agency, you will often just need to give a few facts and some basic papers, such as:
Application form filled out completely, Copy of the intended owner’s or owners’ passports two passport-sized colour pictures are required. At this point, you should apply for your visas, as well as those of your employees and any domestic staff or family members you choose to sponsor. Application for a corporate bank account is the final stage. A company formation specialist can handle all of your applications for you, including contacting with the appropriate authorities. Following a trial programme, the Real Estate Regulatory Agency may require your facilities management firm to be assessed (RERA). The grade will indicate the company’s area of competence and specialism.
What does it cost to get a licence for facility management?
The entire cost of starting a facilities management firm in Dubai will vary based on where you choose to set up shop, how many visas you need, and other factors.
It’s feasible to obtain a better idea of how much a facilities management licence costs. Set up shop in a free zone, such as Fujairah Creative City, and expect to pay around AED 22,200, which includes one visa. The price climbs to AED 24,775 if you want to use the free zone’s co working space.
RAS Corporate Advisors, Setup Your Business in Dubai With 100% Ownership. Feel free to visit www.rascorporateadvisors.com for more guidance or dial +971 543586586.