The United Arab Emirates is a commercial hub that serves a global market of more than 1.5 billion people. So, whether you plan on business setup services in UAE, Saudi Arabia, Qatar, or elsewhere, running a business is not easy. Planning, formulation, review, budgeting, configuration, and decision-making are all part of the process. It also necessitates guidance and assistance in determining the required trade licence for your business, particularly if you are a first-time entrepreneur.
So, let’s take a look at the whole process one step at a time.
Step 1: Identify your business’s activities.
A business without a vision is akin to a ship without a rudder. To get things started, you’ll need to explain your primary activities. Consider what you’re willing to offer. What would the company’s goals be? There are thousands of activities to choose from, and it’s important that you list them all on your licence application.
Step 2: Do some market research.
There’s a lot to consider when starting a small business, from product design to accounting, regulatory compliance, marketing, and more. As a consequence, you must first determine whether or not you have a business opportunity. The following are some crucial moves to take:
• Choose a product or service to promote.
• Define your target market
• Identify main competitors
• Determine the size or opportunity of your market
Step 3: Choose a Jurisdiction
All businesses in the UAE must have a physical address. And each jurisdiction has its own set of laws and regulations governing companies. They also cater to a wide range of business needs. The nature of your business will decide which jurisdiction is best for you. Contacting a company setup expert will once again assist you in determining the best course of action.
Step 4: Decide on a business name
A brand name that separates one company from another is known as a trade name. As a result, your company’s name must represent the nature of your business. An investor can register for a trading name on the website of the Emirate Economic Department or via a smartphone app. If it is a subsidiary of another company, it must abide by those laws and regulations.
Step 5: Submit an application for a business licence
Of course, one of the most important requirements for starting a small business is obtaining a business license in UAE. Obtaining a small business licence is a simple process for both free zone and mainland enterprises, such as,
If you live on the mainland, apply for your licence directly at the Department of Economic Development or Municipality in the Emirate where you live. Apply to the relevant authority for a free zone.
Step 6: Obtain approvals from the government
The UAE government has given its approval, indicating that it has no objections to the company’s operations in the area. It also motivates the investor to proceed to the next stage of the business formation process. However, it does not grant you permission to operate or practise your business. Depending on your business needs, you can need to obtain additional approvals for various industries.
Step 7: Obtain a licence
Investors may receive a business licence from the economic departments’ service centres or their websites after following the procedures outlined above. After your application is approved, the government will issue you a business licence.
To summarise, if you are looking for business setup services in UAE, you must be prepared for all planned acts before you begin. We are Immersion Group DMCC. We handle everything from visa applications (including UAE investor visas) to administrative tasks, leaving you free to focus on your company. So, if you need help setting up your company, we’re just a phone call away. Please contact us at + 971 502169615 if you have any questions.
Send us an email at email@example.com with any additional questions, and one of our experts will respond as soon as possible!