As in other places, there are set rules and procedures laid out by the UAE central government and Dubai local government related to company formation in Dubai, UAE. There are two types of companies that can be set up in Dubai, UAE:
1.Free zone companies â€“ the Dubai government has set up many general and trade-specific free zones. The main attraction for setting up businesses in these free zones is that it can be wholly-owned by the investors (a local sponsor is not required). However, there will be restrictions in trading with the UAE mainland.
2.Mainland companies â€“ these are companies set up outside the free zones. A local has to sponsor and (in most cases) be a majority partner in these firms. However, there are no restrictions in operating these businesses.
Forming a company in a new place is never an easy process. Added to that, the many rules and regulations to be followed can be cause for confusion for a person who is not from around the region. By employing the services of specialist consultants experienced in matters related to company formation in Dubai, you can start a business without much hassle.
Requirements to be met when forming a company in Dubai,UAE
Dubai has fairly liberal business operating conditions compared to other places in the region. The local government department that is responsible for issuing trade licenses and approving the setting up of the business has laid out certain procedures for company formation in Dubai, UAE. These include:
1.Obtaining a license in accordance with the nature of business to be conducted
2.Selecting a company name
3.Drawing up the companyâ€™s Memorandum of Association and getting it notarized
4.Getting approvals from the relevant government departments such as the Economic Development Department, the Licensing Department, etc.
5.Registering the company with the Dubai Chamber of Commerce and Industry, once the necessary approvals are obtained
Only a reputable company formation consultancy service provider in Dubai will be able to prepare the documentation required for company formation and get it processed through the various departments. By using the services of the consultant, company formation in Dubai, UAE will be a smooth and hassle-free process and it can become operational in the shortest possible time.
For more details visit the site http://www.incorporationsmiddleeast.com/