How to start my own business in Dubai?
Starting a business in Dubai involves a lot of factors. One thing is for sure, the only way to start is to start. The easiest and most popular way of getting a residency permit in the UAE is through setting up your own company
Here are 5 steps of setting up your company
1. Choosing your business activity -The business activity will depend on which free zones you can or should set up in. In Dubai Silicon Oasis Authority, a business-friendly Freezone is one of the leading business setups in Dubai, allows certain types of activities, such as professional or IT related businesses. In line with the COVID-19 situation, work-from-home businesses are more likely to be opened due to its nature and demand. Activities like, management consultancy, blogging services, event management and marketing management are among the trending activities
2. Applying for your company name and getting the initial approval A suggestion of 3 names should be provided to be approved by the Dubai Silicon Oasis Authority. This may take 3-5 working days to get approved. Few additional requirements may be required such as a business plan or a NOC letter from a current sponsor confirming that you are allowed to set up another business in the UAE.
3. Receiving your license This step will require you to complete an application for your chosen company name and activity. To be provided along with copies of documents of the company shareholders relevant government authorities. Upon submitting the required documents, the signing of the documents will now take place along with the payment of the fees.
4. Opening your business bank account upon the release of your license; you will have all the documents you needed to open your corporate bank account. You may approach a bank of your choice to start getting your bank account.
5. Processing of Visa finally, this entails processing your entry permit, status adjustment, medical fitness test, then Emirates ID registration and visa stamping.
Make it easy with a trusted business set-up partner. With the support of Dubai Silicon Oasis Authority, The Launchpad Coworking FZCO offers an opportunity to entrepreneurs on setting up their business. Launchpad helps you with setting up your business with the team of professionals that guides you to a hassle-free setup. Startups can join the LaunchPad co-working community at an affordable cost for as low as 7,000 AED. You can set up your own company without leasing an office space. You can get a DSOA free zone license with 100% ownership and up to 2 visas. Launchpad CoWorking FZCO in association with Dubai Silicon Oasis Authority gives you access to any professional license activities. For more info visit our website https://www.thelaunchpadcowork.com/