Some investors want to know what are the costs of establishing a company in the Emirates , because it is now possible for any person in the Emirates, regardless of his financial ability and financial budget, to start any type of commercial activity that exists there, and this is due to the different living conditions there and the multiplicity of its requirements and expenses. It is also due to The types and needs of investment vary between each emirate and another in the Emirates and there are many.

We notice an increase in the proportion of population, an increase in the number of births, and an increase in people heading to the Emirates, which has led to their need for many diverse and different services necessary for life. This leads to a multiplicity of investments in Dubai, whether they are investors holding Emirati nationality who own capital, or they are migrant workers, etc. It is considered one of the best countries in which you can start a new business or any new investment, whatever its type.

How to establish a company in the UAE

To establish a company in the UAE, certain legal and administrative procedures are required. Here are the basic steps to establish a company in the UAE:

• Determine the type of company: You need to determine the type of company you want to establish. It can be a limited liability company, a public or private joint-stock company, or a partnership.
• Choosing a company name: You must choose a unique and appropriate name for the company. You must ensure that there are no other companies with the same name or any similarity that could cause confusion.
• Registration and Licensing: You must register with the relevant authorities and obtain the necessary licenses. In the UAE, procedures and requirements vary depending on the emirate of incorporation. You must contact the relevant authorities such as the Department of Economic Development or the General Authority for Projects and Free Zones to obtain accurate information about the requirements.
• Preparing legal documents: The legal documents required to establish the company must be prepared. This includes human resources, contracts, internal laws, charter, etc.
• Obtaining the necessary capital: The necessary capital for the company must be determined and provided. This may require opening a bank account in the company’s name and depositing the capital amount.
• Retain the services of an attorney: It may be helpful to retain a business attorney to help prepare legal documents and guide you through the process.
• Respect labor legislation: You must ensure compliance with local labor legislation and provide all necessary documents and licenses to employ labor.

Costs of establishing a company in the UAE

The costs of establishing a company in the UAE vary based on the type of company, the emirate of incorporation, and local legal and administrative requirements. Here’s an overview of some of the expected costs:

• License costs:

You need to obtain licenses from the relevant authorities in the emirate in which you intend to establish the company. These licenses may include business licenses, environmental licenses, commercial activity licenses, and others. The costs of these licenses vary depending on the type of company and its activity.

• Necessary capital:

You may be asked to put up the necessary capital for the company depending on the type and size required. In some emirates, such as Dubai and Abu Dhabi, no minimum capital is required for limited liability companies. However, capital may affect the licenses and permits you obtain and local investment policy.

• Costs of legal consultations and lawyers:

It is recommended to hire a lawyer or legal consultant specialized in commercial law to help you establish the company and prepare legal documents. Attorney services may result in additional costs.

• Rent and office costs:

If you need office or commercial space for your company, you will need to pay rent, insurance and mortgage costs. These costs vary based on location and size of space required.

• Registration and administration costs:

You may need to pay registration, insurance, and administrative fees to the relevant authorities in the emirate. These fees vary depending on the type and size of the company.

It should be noted that this list gives you a general idea of ​​the likely costs of setting up a company in the UAE, and actual company costs may varyActual costs can vary significantly based on the specific factors of your particular company. Therefore, it is important to communicate with the relevant authorities in the Emirates and inquire about the specific legal and administrative requirements and updated costs for establishing the type of company you desire in the Emirates in which you intend to establish.

Residence and investment in the Emirates

The United Arab Emirates is a popular residence and investment destination due to the many benefits it offers. Here is some information about residency and investment in the UAE:

• Residence visa:

To reside in the UAE, you must obtain the appropriate residence visa. There are two main types of visas: visit visa and residence visa. A visit visa is granted to visitors and tourists for a limited period, while a residence visa allows permanent or long-term residence based on personal and work circumstances.

• Establishment and investment:

The UAE provides a developed and encouraging investment environment. You can establish your own company and benefit from the facilities and benefits provided by the government, such as working in partnership with an Emirati citizen or establishing a free company in free zones. There are also investment opportunities in many sectors such as real estate, tourism, technology, and financial services.

• Advanced infrastructure:

The UAE is characterized by a modern and developed infrastructure, which provides a suitable environment for living and working. There are advanced hospitals, high-level international schools, modern shopping malls, sports and leisure facilities.

• Political stability and security:

The UAE enjoys political stability and security, making it a safe destination for residence and investment. The government pays great attention to enhancing security and providing a safe and stable environment for residents and investors.

• Multiculturalism:

The UAE is considered a multicultural society open to the international community. You can enjoy a rich cultural experience and meet people from different cultures and nationalities.

Steps to establish a company in the UAE

Despite the facilities provided by the UAE government in establishing investment companies there for migrant workers, it has made clear that it has set several basic conditions that must be adhered to, which are as follows:

• Determine the nature of the company’s activity

It is necessary to determine the nature of the activity of the company that you wish to establish in the Emirates, and the number of activities varies depending on whether it is a commercial activity, a professional activity, or an industrial activity, and all of them are economic activities, and we all know that the number of economic activities in the Emirates is approximately twenty thousand multiple economic activities, and the Emirati government is working on Facilitating determining the type of this activity.

• Determine the legal form of the company

It is also necessary to determine the legal form of the company so that the competent bodies know in which type of companies your new company will adapt. There are five types of companies according to its legal form, which are (solidarity company, limited liability company, public joint-stock company, private joint-stock company, and civil works company).

• Trade name registration

The trade name when establishing a company in the Emirates is what distinguishes any license from another. It is also related to the form and activity of the company and is approved under several conditions that are stipulated and applied by the Department of Economic Development before approving it, namely that the trade name does not contain any words that are inappropriate for the country. The name must not contravene public taste and country specificity, and the company name (trade name) must accurately and clearly reflect the commercial activity.

• Obtain initial approval

After determining the company’s commercial activity, determining its legal form, and knowing and registering its trade name, you must now obtain initial approval from the competent authorities and bodies for your economic activity for the company, and you must follow up in order to obtain the approval of the authorities related to the activity.

• Preparing the articles of incorporation and choosing a location for your business

Concluding or preparing the contract for establishing a company in Jebel Ali, establishing a company in the free zone, or establishing a company in the Emirates involves bringing the original contract of incorporation in agreement between you and the competent authorities in the Emirates or in the free zone. You must also choose a location to establish the company in Jebel Ali. Or establish a company in the Emirates. To conduct your business, established companies must have an existing physical address located in the United Arab Emirates.

• Obtaining approvals from the authorities concerned with the facility’s activity

Some activities and projects that take place in the Emirates require obtaining additional approvals from regulating bodies competent for those projects in question, such as approval from the Ministry of Economy, the Ministry of Interior, the Ministry of Justice and Civil Defense.

• Obtaining the license

After completing all the aforementioned procedures to prepare and establish an investment company in Jebel Ali or establish a company in the Emirates, you can now receive the license to practice the activity for which you want to establish the company after attaching many of the required documents and paying the commercial license fees for establishing companies, then after registering in the Chamber of Commerce. As a member.

Find out what the costs of establishing a company in the UAE are

In conclusion, it is clear that establishing a company in the UAE in cooperation with Itqan Company can be a strategic option for investors. Although potential costs may be of great importance in the incorporation process, it is important to plan carefully and consult local experts to achieve success in establishing a company.

Licensing costs, required capital, rent and operating space, professional services, legal and administrative fees are some of the financial constraints to consider. However, it should be emphasized that the UAE offers a sophisticated investment environment and is considered a unique destination for business.

It is important to conduct a good study of the market and identify potential opportunities and risks associated with the sector in which you intend to invest. You must have a solid business plan and a sustainable strategy to achieve success in the local and global market.

If you are interested in establishing a company in the Emirates in cooperation with Itqan Company, it is recommended to contact the company directly to obtain personalized advice and a cost estimate specific to your individual case. The team of experts will be able to provide the necessary assistance and guidance to ensure the success of the establishment process and the achievement of your goals in the UAE.

The most important frequently asked questions about establishing a company in the Emirates