Setup a company and to start a businessEven if you fulfill all the legal requirements, setting up a business can be pretty difficult. Therefore, it is always better for residents to seek the assistance of a local business formation agent to get their businesses up and running quicker. Here are some of the tasks you will have to fulfill before starting a business. We believe that the below mentioned tasks are best to be achieved with a local business agent. Dubai Multi Market Services act as a conduit between service providers and you to offer comprehensive help to start a business in the region from scratch.
01. Type of the business
It depends on the type of the business one can start. Depending on the type of the business, you may obtain an industrial, commercial, or a professional license. However, if your business is related to food trading, jewelry, legal consultation firms or veterinary practice, you will have to get further approvals through other government authorities as well. You may have to contact local authorities if you cannot specify the type of your business precisely.
02. Type of ownership
You can have 100% ownership of the business or if you are a foreign national, you should obtain a license and location in a free zone. Each free zone is dedicated to different business activities. Look out for free zone option in this website. So, your license should be obtained through authorities in the region it can be sole proprietor, partnership like LLC or a private limited company.
03. Trade name for your business
You should pick a trade name for your business and the name you select should depict the nature of your business. In addition to that, there are several other rules to consider when selecting a trade name.
04. Finding an office space and/or warehouse for your business
Now that you meet the legal requirements and have other documents ready, it is time to determine a place for your business. To find a place that matches your business and your budget, we can help you out for the right place.
Generally, you should recruit a manager to oversee the operations even before your recruitment is approved and that would probably be the first recruitment your company will entail. However, in certain cases, you will not be able to recruit any employee until the registration is approved.
06. Obtain local support
When it comes to obtaining a license for your business, you must have to get the assistance of a local agent. Without the assistance of a local agent, things can be incredibly difficult particularly when it comes to tasks like opening a bank account, finding office and warehouse space etc.
As we mentioned, it is always better to rely on an experienced and knowledgeable agent to help your business formation process. Dubai Multi Market Services can help with opening bank accounts, finding office premises, staffing and many other essential aspects that are mandatory when starting a new business. Also, Dubai Multi Market Services will assist you in dealing with authorities involves in business formation.
Last modified: August 7, 2018