The UAE is well known for being one of the best business locations the world. From the famous zero percent tax rate, strong leadership and amazing weather entrepreneurs from all around are flocking to this country to start their business. If you’re one of these forward-thinking entrepreneurs, then the following steps will help you start your business in the UAE.
Step 1: Decide your business activity.
The first step is to pick the right business activity that you want on your license. This may seem like a very simple step, but the UAE has thousands of activities to choose from and if you pick the wrong activity, you could be fined. That is why it is recommended that you work with a company formation specialist like Business Incorporation Zone (BIZ). With their guidance, you can also get one the cheapest free zone licenses in the UAE.
Step 2: Choose your company name.
After you choose your company activity, the next step is to pick a business name. We recommend you pick something easy to remember and spell. This will make it easier for potential customers to remember your company name.
As per UAE law, you cannot pick any name that contains vulgar words or infringes on another business’ rights by picking something similar to their name. Your application will be rejected if you try to do so.
Step 3: Apply for your trade license.
The next step is to apply for your trade license, ensure your application is ready and filled correctly. If you make a mistake here, your application could be delayed, resulting in a loss of time. This could delay when you can start your business. That is why we recommend working with a Dubai company formation specialist.
Step 4: Apply for your visa.
Next you need to apply for your visa and your emirates ID. Business incorporation Zone (BIZ) can also help you with this step.
Step 5: Opening a corporate bank account.
The last and final step is to open a corporate bank account through one of the many UAE banks.