10 Questions Before Setting up a Company in the UAE

Warm welcome to our course on how to set up a UAE company on your own without any external assistance. If you thought that you do not have relevant knowledge to do it correctly or it shall cost you a fortune to have your own business in the UAE, we will tell you that you are luckily wrong. In this course we will share with you step by step what you need to know about business set-up in the UAE, we will also guide you where to go and what to do and finally we will share with you a lot of pdf. guides outlining exact procedures, steps, costs, requirements in relation to documents and so much more. After completing this course you will definitely know more than many of consulting professionals and you will be comfortable not only registering a company on your own, but also applying for your visa and opening a corporate bank account. You will be able to give valuable advice on company formation in the UAE to your friends and business contacts. Additionally, we will inspire you and will share marketing tricks you can use right away to grow your company.

The course consists of 13 modules, all designed by our team based on our knowledge and professional experience. You will get the answers even to those questions, where you think it is not possible to find any. We ensure that you will enjoy the course and you will find it of a great value. Get ready to make notes and start devising your set-up strategy right now.

Welcome to Module 1. Module 1 was specifically designed to help you understand UAE business set-up concepts. Even if you reside in the UAE for 10 years, believe me, you will still find a lot of facts that you are not aware of. Let’s go chapter by chapter, module by module, and you will see it yourself.

Before we start talking about various concepts separately in each chapter, we would like to identify the questions in connection with company registration, which you most probably have, and how this course will help you to answer them.

With no previous knowledge, can I really set up a business?

The internet is full of self-help guides, from investing on the stock market to replacing a broken phone screen yourself. Although they might explain everything, you may still lack the technical know-how or the courage to execute it yourself. We believe that when it comes to starting a company in the UAE, a clear and thorough guide of the steps is the only key. Our course aims to be accessible for everyone. For those of you with experience setting up a company and those without it. For those of you who live in the UAE and for those who live outside it.

What can I name my company?
Company names are something every business founder thinks long and hard about. What you need to be aware of is that there are some restrictions on naming in the UAE. These restrictions vary based on where exactly you choose to setup the company, something we will cover in detail later. This is just something to keep in mind before you start printing Business Cards in anticipation.

Will I need a license?

In the UAE, all businesses require a license regardless of what they do. For most industries, this isn’t something to worry about as licenses do not have to be ‘earned’ in the way a driving license or a license to practice law does. Licenses are often issued as a formality during the company formation process. Although, naturally there are some industries where businesses will require pre-approval before one is given. There are a variety of licenses in the UAE based on the type of business activities your company will be engaged in, and this course will help you to identify the correct one for you.

The UAE is very expensive, how can I afford an office?

You cannot incorporate a business in the UAE without giving a registered address. It is true that renting office space in some of the desirable spots can be pretty tough on the wallet, but there are plenty of solutions out there. For instance, renting office space in some of the northern emirates such as Umm Al Quwain or Fujairah can prove good value for money. Additionally, there are work spaces available - different from the conventionally understood office. For example, so called ‘flexi-desks’ or ‘smart-desks’ provide a cost-friendly alternative. They are a rentable desk-and-chair which can only be used for a certain number of hours per month. Module 2 focuses solely on various office facilities and solutions in the UAE. We will help you to find the option that would specifically meet your needs: both strategically and financially.

If I plan on setting up a business in the UAE, how do I get a visa for myself and my employees and how to bring the family?

As soon as your UAE company is registered and Establishment card is received, your can apply for your investor visa, as well as start hiring and applying for the visas of your future employees. You can also apply for visas of your close family members, as soon as yours is stamped in your passport. The process of getting visas, timeframes, document requirements, fees, detailed guides and many facts you should know and consider we will share in one of our most comprehensive modules on visas. We guarantee that no one discussed this topic in such detail before.

Putting funds into a new business venture can be a risky expense, what’s an approximate estimate of the minimum initial spend?

Initial expenditure is never clear-cut but we can give you a ball-park figure of what the minimum you should be expecting to spend on the registration and setup of your company. Not to delve too far into it, but the current cheapest package offered for business registration is in the emirate of Umm Al Quwain, for AED 13,500, where for this annual price you get a registered company with a flexi-desk agreement and one visa quota. We will also discuss other options and required budgets for set-up in our course too.

How easy is it to set up a company bank account?

This really comes down to how well you prepare in advance. For this, it is useful to put yourself in the position of the UAE bankers. Their goal is to ensure you have a legitimate business and will keep a certain amount of money deposited in your account. We will be discussing very much in detail the documents you have to prepare, how the bank reviews your application and how to ensure there are no delays in opening a bank account, how you should choose the bank, how you can get additional finances for your business, how payments by cheques work in the UAE, credit card, debit cards, online payment solutions and other aspects, which are so important for you as a future UAE businessman.

As a business owner in the UAE, what is my liability?

Depending on the company type you choose for registration, your liability may be limited, or, vice versa, unlimited. As we go through the chapters, you will learn everything you need to know about company types, what unlimited liability means, we will also look at a corporate structure in the UAE companies and focus on those specific aspects that you, as a business owner, shall know.

Can I find everything I need to know about setting up a company in the UAE on the internet?

The internet is undoubtedly a great resource on the subject and you could spend forever looking through it. The trouble with information online about company setup in the UAE is that things are always changing that may render information obsolete. For example, the fees and processes involved are adjusted quite frequently. Additionally, you may not always be getting the real picture. A website may promise availability of offices of all sizes but when you go to take it a step further - the only thing they have are too big for your needs and even then, there’s a 2-month waiting list. We will teach you how not to get into any traps and to choose only those options, which are first of all benefiting you.

I found this guide on the internet, why can I trust it?

This course is designed with the fast-moving nature of the fees and processes in mind. It has been carefully put together by a team of business consultants who deal with this changing landscape on a daily basis, and have done so for many years.

Now that you know what awaits you, let’s start the journey. You will be definitely proud of yourself, as soon as you establish your own business without seeking any external professional assistance.

If you want to know more about Dubai freezone company formation, feel free to get in touch with our professional consultant team and we would be delighted to assist you and help you to compare Dubai freezone company setup costs and help you to find that free zone, which would suit your business needs the most.

Disclaimer: Business Boutique UAE-Consultants.com is not affiliated with any particular government or legal entity. Business Boutique does not give professional legal advice nor any other professional advice subject to a public office in the government. This article merely sets out a simple and basic idea as to the reasons of Dubai freezone company setup and Dubai free zone company formation cost. Business Boutique in no way holds nor imposes any official governmental or legal authority and the article herein is only to be taken as a guide. All further governmental or legal issues should be addressed to the corresponding authorities.

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