The training of companies in Dubai has never been greater. This is a declaration that probably would have happened at some point during the last decade or so, but the signals are very favorable right now.
Only one week is passing without any other major project being announced or delivered and the UAE’s projected growth shows that it is worth sapping on.
The IMF anticipates that the UAE will be leading the economic development of the Arab Gulf by 2017, growing considerably by 2.5% in line with the largest economy in the region, Saudi Arabia.
These results, together with excellent development in prior years, attracted a growing number of companies across the country. The good news is that the establishment of businesses in Dubai is generally straightforward and quick, with significant benefits, especially as free zones of the United African States.
If you are planning for business ventures in UAE, this article will help guide you in the right direction. Specifically, the article talks about the naming criteria of your business, the type of activity, and the paperwork you will be required to submit at the time of company formation in the UAE.
Company Formation in UAE
Here a few steps for the company formation in UAE.
Business Activity
While the technical, administrative and financial components of the training of companies might appear overwhelming in Dubai, it is much easier and cheap to follow a basic, step-by-step method. We have assisted many firms to establish themselves in different free areas and can divide the procedure into the six phases that follow.
Company Name
The UAE has fairly stringent naming agreements, so make sure it complies before you commit to a firm name.
Any names with an objectionable language, including corporate names referring to Allah, him or any other religious, sectarian or political group, such as the FBI or the Mafia, are prohibited.
If you decide to name your enterprise after a person, the individual must be a partner or owner and his name, no initials nor abbreviations, must be used.
Paperwork
You will be necessary, together with a copy of shareholders’ passports to appropriate government agencies, to complete an application for your name and activities. For your intellectual property and trademarks you can get a help from a copyright agent.
Some free areas require further evidence, like a business plan or NOC – letters from a sponsor that certify you are permitted to start up another company in the UAE.
Some free regions will require further documents. While the most demanding of these stages may be, the paperwork must not be too stressful to provide expert aid.
Your company establishment partner can advise and assist you complete the necessary papers.
This is the easiest phase of all. The government will provide your company license once your application has been processed.
Open Bank Account
You will have all the documents that you need to open your company bank account, once your documents have been returned.
Many banks, local and international, including Emirates NBD, Abu Dhabi Commercial Bank (ADB) and Commercial Bank of Dubai, as well as major giants like HSBC, Citibank and Barclays are located in the UAE.
You may either approach your chosen bank or ask your business partner to organize a number of meetings with institutions to assist you decide which alternative is best suited.
Conclusion
The company training in Dubai is not only straightforward, but with the correct expert help the procedure may take place within lit
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