Business Setup in Dubai, UAE – Low Cost Company Formation
The company formation has always been something always encouraged by the people. His is because the economy of Dubai is getting better day by day and there would literally never be a better time to invest in here. So, yes, you should also think of investing in Dubai’s market if you are not thinking about it already.
Every passing day we get to hear about the launching of amazing projects which makes it even more appealing to the people. The growth in Dubai’s market is remarkable and is really making a lot of people start their businesses here.
In Dubai, there are different options for people interested in company formation. They can either choose an offshore or onshore place to start their business. They can also get a number of great incentives as per the place they choose to work in.
In order to start a business in Dubai, you need to follow some basic steps. One thing that you must keep in mind is to stick to the rules and regulations. If you deviate, you might be in a problem. So, you better obey the rules to be on the best side.
- Business activity
First of all, you need to choose the business activity for your company. You must also check whether the type of activity you want to go for is allowed in the particular zone you have chosen or not.
- Company name
After choosing the legal entity of your company, you must choose the right name for your company. There are some regulations or choosing the name as well. You must try to be as sure as possible not to hurt the sentiments of the people of the country by the name you choose. If you do so, you won’t be allowed to choose that name. also, you should not name your company on any religion. Use the full names instead of abbreviations and do not use the political names for your company.
Another most important thing you should be careful about is that you must not choose a name that has been used previously by anyone else. There are websites to check that as well.
You must submit the application along with all the documents that are required for the initiation of your business venture.
After you are done with the previous processing, you should move on towards taking the license so that you may get the approval of carrying out your business activities.
- Bank account
After you are done with the paperwork, you must open your company’s bank account. There are a number of institutions to choose from for the cause.
- Visa processing
For foreigners, visa processing is one of the important steps for a company formation. You can take the help of legal consultants as well for the visa processing of you and the people you sponsor.
If you think you cannot handle the business set up in Dubai process alone, you can hire a business set up consultant as well.