Compulsory Requirements For Business Setup in Dubai

Compulsory Requirements For Business Setup in Dubai

March 6, 2017
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You need a cost-effective, all-inclusive business setup package and that’s exactly what Peninsula Business Solutions offer you. Our company formation packages are easy on your pocket and include the essentials to get your license and begin operations right away.

Our licensing packages include local sponsorship, economic department licensing fee, company name registration and the entire range of document clearance services required to complete a new licensing procedure. You have the freedom to add any further items to your package, such as a business address for licensing, investor visa processing and serviced office space and much more.

Compulsory Requirements For Business Setup in Dubai

In Dubai, it’s compulsory to have a local sponsor (UAE national) involved when setting up a new business. A trading company must have legal documents to show that 51% of the shares is owned by a local. An expatriate may only own the remaining 49%. However, through a Memorandum of Understanding, these terms can be adjusted to suit the investor’s purposes.

In the case of a professional practice, a local service agent is required, but this agent has no involvement in the company’s business operations, management or profit sharing. The agent will merely be a figurehead representative when drafting legal agreements and establishing other business documentation required in Dubai.

An office address that can be verified by the Dubai Municipality is also a necessity when setting up a new business in Dubai. Office space requirements are varied based on the type of license and it’s the investor’s responsibility to ensure a valid tenancy contract for an office is available at the time of applying for the license.

However, these regulations do not apply to free zone company formations. Dubai free zone companies are 100% owned by the investors/partners and are established withing a few days through the relevant free zone authority. Dubai free zones offer sophisticated infrastructure, all facilities and residency visas for investors.

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Peninsula Business Solutions (PBS) Ltd was established in the UK in 2004 and licensed by the UK OFT (Office of Fair Trading) to provide Consumer Credit Services. We are regulated by the OFT and follow the strict guidelines provided by the UK FSA (Financial Services Authority). In 2007 PBS established a branch in the UAE which provided us international presence and the ability to expand and diversify our services along with our International network and affiliations. We specialise in providing high end professional consultancy on Company Registration in Dubai, company setup services across the UAE and Debt Recovery Services