In the fast-paced business world of the UAE, getting a Certificate of Incorporation in the UAE or COI is important. It is considered your company's official ID card and a golden key that unlocks many opportunities. In this blog, Shuraa will explain why the COI is important, what documents you need, its benefits, and how to get it. We'll walk you through the required paperwork, including identification documents, proof of address, and business plans.
What is a Certificate of Incorporation?
To start a business in the UAE, it is important to have a certificate of incorporation. It is also known as an Incorporation certificate in the UAE. This document is a legal recognition to start a business in the UAE. This is issued by a government body or the regulatory authority of the UAE.
This certificate is issued by the Department of Economic Development in the UAE or in the Freezone authority where your business is started. A certificate of incorporation is important for the legal standing of your business. As it proves that your business is properly constituted and registered under the laws of the UAE.
What are the components included in the Certificate of Incorporation in the UAE?
Key components of the Certificate of Incorporation in the UAE include:- Company Name
- Registration Number
- Date of Incorporation
- Registered Office Address
- Type of Company
- Nature of Business
- Share Capital
- Details of Directors and Shareholders
- Duration of the Company
- Governing Authority’s Stamp and Signature
Advantages of Having a Certificate of Incorporation
Getting a Certificate of Incorporation in the UAE has many benefits:- It makes your business official and legal in the UAE.
- It helps the clients to believe that you are a legitimate company and not scammers. With this your clients can trust your company too.
- One of the most important advantages is you can get work visas for the employees and for yourself too.
- It also helps to get the licenses and permits required for a business to run.
- You can even open a business bank account if you have a COI.
- It also protects your assets from business debts and any other legal issues.
- It also helps your business to get a good name in the business hub in the UAE.
How do you get a Certificate of Incorporation in the UAE?
Here's a simple step to help you get your Certificate of Incorporation in the UAE:
Step 1: Choose a Business Structure and Jurisdiction
The first step is to Decide your business structure, such as an LLC (Limited Liability Company) or a branch office. Then, choose where to set up, whether you want to set up in a Free Zone or on the mainland.
Step 2: Choose Your Business Activities
Once you have selected a business structure, the next step is to Select the main activities your business will conduct. This is important because some activities require special approvals or are specific to certain areas.
Step 3: Choose a Company Name
The third step is to Choose a name for your business, as it is important. Make sure you follow the UAE naming guidelines. For choosing a name for your business, you can go through the DED’s website. You can check the availability of your company name and then you can choose from. Get your name reserved with the DED or Free Zone Authority.
If you need help selecting your company name, contact Shuraa Business Setup. We’ll help you choose one.
Step 4: Get Initial Approval
Once you have selected a name for your business, the next step is to get the initial approval. You will get your initial approval from the DED or Free Zone Authority. You need to get other approvals from the Chamber of commerce and the approvals fully depend on the business activity which you are choosing.
Step 5: Rent Office Space
The next step is to choose a good location where you will set up your business. Just make sure your business meets all the required things it needs to start. The proper size, spacing and location of the office are important.
You can rent anything like a normal office space, you can even get a retail space or even a warehouse as per your business need.
Step 6: Apply for a Trade License
Once you get the approvals, the next step is to get a trade license. You can get the license from the DED or the Free Zone Authority. It is important to submit your Business MOA, rental agreement, and initial approvals. If you need any help with any of the document's approvals, you can contact our Shuraa experts.
Step 7: Pay Licensing and Registration Fees
Once you get the approvals from the DED, you will be informed about the fees which you have to pay. Remember to make the payment on time to avoid last-minute rejections. If you pay the registration fees on time, then it will be easy for you to get the Certificate of Incorporation.
Step 8: Get the Certificate of Incorporation
This is the second last step, during which all your documents and payments are verified. Then the authority will issue your Certificate of Incorporation. Then your company will be officially registered under the govt of UAE.
Step 9: Open a Corporate Bank Account
Once you get your Certificate of Incorporation, then you can open a corporate bank account in the UAE. And start your business after it legally. We hope these steps will help you get a Certificate of Incorporation if you are confused at any step. You can contact Shuraa today!
Documents Required for a COI
The documents required may vary based on your business structure and location. Below is a necessary list of documents:
- Passport Copies
- Application Form
- Trade Name Reservation Certificate
- Passport Copies
- Memorandum & Articles of Association (MOA/AOA)
- Visa Copies
Cost of the Certificate of Incorporation in the UAE
The cost of getting the certificate of incorporation in the UAE varies based on factors like the type of trade license, business activities, and industry. Generally, the price for an incorporation certificate starts at AED 6,000*. You can contact Shuraa Business Setup today for the exact price.
Get a COI with Shuraa
Starting a business in the UAE can be complicated with all the legal requirements. That’s where Shuraa comes in. We have been serving clients with the best services for the last two decades.
We can handle all your problems, like choosing a name, jurisdiction, the documents required, and all the approvals from the authority for getting a Certificate of Incorporation in the UAE.
Contact our team today! So, we can further guide you in getting a certificate of incorporation in the UAE.
