Dubai has been a place for various entrepreneurs to start a business in Dubai. There are many benefits to setting up a business in Dubai, excellent infrastructure, prime locations, low crime rates, tax advantages, and a luxurious business hub. Before you jump on how to set up a business, you must know the Documents required for business setup in Dubai. It's important to know what documentation is needed.
Documents required for business setup in Dubai
Documents required for business setup in Dubai can vary depending on the type of business and the jurisdiction (free zone or mainland). Shuraa Business Setup will guide the documents required.
1. Business Plan
Making a detailed business plan is important. It acts as a blueprint which outlines your business vision, strategies, market analysis, financial forecasts, and operational frameworks. This plan is important for effective stakeholder communication and engaging potential investors.
2. Passport and Visa
A passport confirms your identity and nationality. A visa is another government-issued document that allows you to enter a country for a certain period. You need a passport and a visa to start a business in Dubai.
A passport and visa are among the essential documents for starting a business in Dubai. There are different types of visas in Dubai, such as investor visas and residency visas. This document was provided to business owners and investors.
3. Tenancy Contract
A tenancy contract, issued by the land department, specifies the rental cost, duration, and terms agreed upon by the landlord and tenant. This document must be submitted to the relevant authority to obtain a trade license.
4. Board Resolution
A board resolution formalises decisions made by company directors, such as appointing a manager or setting a company name. It's legally binding and records board decisions. Need help drafting it? Get help from Shuraa business setup we can assist you with the documentation.
5. Trade License
A trade license is the final document that allows you to start your business. It specifies the authorised business activities. The UAE's main types include professional, commercial, and industrial licenses, with variations depending on your chosen jurisdiction.
6. Local Service Agent (LSA) Agreement
Many business structures, especially professional firms, require an LSA (Local Service Agent) agreement. The LSA, usually a UAE national or an entity owned by UAE nationals, serves as a local sponsor and outlines the terms of the sponsorship arrangement.
7. No Objection Certificate (NOC)
A No Objection Certificate (NOC) is needed to start a business while still employed. An NOC shows that your current employer has no problem with you starting your own business.
If your visa is sponsored by someone other than your employer, like your spouse, you might also need an NOC. However, not all free zone jurisdictions require an NOC.
8. Articles of Association (AOA)
The Articles of Association (AOA) outline the rules for a company's internal operations, including appointing a secretary, alternate director, delegating powers, and meeting procedures. It also details share capital and transfer regulations. The license issuing authority prepares the AOA based on your information.
9. Memorandum of Association (MOA)
The Memorandum of Association (MOA) outlines a company’s main goals and confirms the shareholders' agreement to form the company. It includes key details like the company name, structure, address, objectives, and scope of operations.
It also covers dispute resolution, shareholders' financial obligations, and benefit sharing. The license-issuing authority prepares the MOA, similar to the Articles of Association (AOA).
10. Emirates ID
An Emirates ID is a required identification document for all residents and citizens of the UAE. It includes personal information like your name, date of birth, and photo. In Dubai, you need an Emirates ID to register a business with the Department of Economic Development (DED).
11. External Approvals (Depending on Business Activity)
Some business activities need extra approvals or licenses from Dubai's regulatory authorities. For example, healthcare, education, food services. Construction businesses can require specific permits or clearances before they can start operating.
12. Power of Attorney (POA)
A Power of Attorney (POA) is a legal document that lets a person or organisation act on behalf of someone else. In Dubai, you need a POA to register a business with the Department of Economic Development (DED).
This document allows the authorised person to handle all legal and financial transactions for the company.
13. Lease Agreement
A lease agreement outlines the terms of a commercial property lease, including rent, duration, and responsibilities of the landlord and tenant. In Dubai, it is mandatory to register a business with the DED.
Cost of starting a business in UAE
Business setup in the UAE starts from AED 12,500 *. However, the precise cost can vary widely depending on several benefits. The price also includes the business registration, licensing fees, office rent, size of the office, and visa requirements.
For an accurate estimate of your business startup costs in the UAE, consult Shuraa Business Setup for expert advice and assistance.Get your documents verified with Shuraa!
Documents required for business setup in Dubai are important before you consider forming a company in the UAE. These documents are essential for any company in Dubai and should be acquired promptly to prevent delays or legal issues.
Seeking guidance from a legal expert or a reputable business consultancy service provider like Shuraa Business setup is important to ensure compliance with local laws and regulations when setting up a business in Dubai.
