Dubai company registration involves certain basic steps a businessman must take before he commence business. Here are few categories and procedures necessary for a business license and registration in Dubai and Sharjah Free Zone Company Formation. Socprollect is a reputed Company Incorporation in Dubai where you can head on for procedures or guiding regarding company registration.
Any business of any category must have a trade license. The requirements of trade license and the permissions required from various agencies and government ministries can vary depending on the category of the business.That means some types of businesses require more clearances than say a general trading business.
There are 3 main categories of licenses. Depending on the nature of the activity a business entity plans to undertake, license in one of these categories will be issued:
- Commercial License – It is issued to a company that will engage in any kind of trading activity.
- Industrial License: is issued to a company that deals with the manufacturing or any industrial activity.
- Professional License: is to be issued to service providers, professionals, artisans, and craftsmen.
The Department of Economic Development is responsible for issuing local Dubai company licenses and operates from several locations to deliver licensing services.
Company registration: Stepwise Procedure
- Initially, decide a sponsor or a local partner consider what services you expect from the sponsor. A good rapport with your sponsor prevents many potential problems.
- Get a name and activity approval from Department of Economic Development (DED).This can be applied for and done on a standard application form and submitted at DED.
- Look for business premises and make a tenancy contract. All business in Dubai must have business premises evidenced by a tenancy contract in order to get registered.
- Make a Memorandum of Association (MOA) with the sponsor and submit to DED. Any legal firm can type out the memorandum which must specify in a special arrangement and ownership percentage among all partners.
- Submit the MOA and the License application at DED along with the required legal documents and the tenancy contract. All charges and fees must be paid at this stage. You should get a license after a week.