Procedure of setting up business in UAE

Fortune Dale follows a very simplified procedure for setting up business in UAE.

The documents and information to be furnished are:

• Passport Copy.
• Profit of the Owner.
• Bank reference Letter Original.
• Board Resolution Original.
• Legal Forms of company in dubai.
• Business Plan.
• In case of Branch office of a Foreign Company, Memorandum of Association and Certificate of Incorporation attested by U.A.E. embassy in that country.
• Ten Passport size Photographs.
• Four Alternatives Names of proposed new business.
• Details of Business Activities to be done.
• Four Alternatives Names of proposed new business.
• Office space and number of Visas required.
• Bank's Capital Adequacy Letter Original.
• Application Form and Owner's Specimen Signature Form.
• Appointment of Manager / Legal Representative.

As soon as the above documents and information are provided to us, we will go forward with the procedure and it shall take a maximum of two to three weeks of time for the setting up of business depending on how fast we get all documents and others from the clients.

The various stages of this procedure are:

1. Obtain Initial Approval for the trade name approved from among the four alternative names proposed.
2. Get the Business-Activity approval for which a Business-Plan is generally submitted to the authorities.
3. Legalization process takes place wherein the authorities do authenticity check of Passport, Bank Reference, Company’s Memorandum of Association and Bank Resolution, auditors certificate etc.
4. Allocation of Office Space.
5. Submit applications and initial approval along with the notarized copy of the Memorandum of Association, Capital certificate, and tenancy contract etc to the Department of Economic Development / Municipality etc.
6. 6. After scrutiny by the Legal Department, the Company name will be entered in the Commercial registry and have its Memorandum of Association published in the Ministry of Economy & Commerce bulletin. The Department of Economic Development or the Municipality will then issue the License.
7. Obtain Labour card, Immigration card, visas etc.

Kindly note that the above processes are interlinked and are not very clearly distinguishable but are general guidelines to apprise you of the procedure in U.A.E.