A few steps to follow for an affordable setup

There is a list of some most important initial steps which should be considered before launching a new business in the UAE. It is very helpful to have a good lawyer who specializes in launching a new business and preparing a new setup followed by an office setup where official meetings and work can progress.

Ejari contract is the first thing to be taken on board, only if the business supports health care and yearly bonuses. Ejari's contract will provide leases and will keep everything bound and on track. The government of the UAE protects such businesses and employees.

On the other hand, the first step begins with a secured bank account for a safe and sound cash transfer. Therefore, backing up a business bank account is the most important and first step when launching a new business.

Approved Title

This is another very important step that involves the two most important departments of the UAE; Dubai police general headquarters (DPGH) and the Trade License and Consumer Protection Department. This step is required even before opening up a concerned department. In case of disapproval from any of the concerned departments mentioned above, the business title must be changed.

Legalized structure of the company in UAE

UAE demands certain rules to be followed by the citizens and the foreigners to begin their businesses legally depending on the location and city. For example, building a consultancy firm is part of having an (LLP) limited liability partnership company, a default business setup in Dubai.

Currently, according to the latest rules of the UAE, there are four major types of companies that can be built specifically in Dubai.

●General partnership: this partnership does not limit the number of partners; it may involve business associates.

●Sole partnership: a sole partnership business requires no partners and can be operated by oneself. Thus, it is comparatively easier to run. Also, it requires no legal authorization and protection.

●Private company: setting up a private structure in Dubai is very common. All it requires is two shareholders who run the company as directors, chief accountants, and secretaries.

●Limited Liability Partnership (LLP): This is a perfect option for all young entrepreneurs who want to begin their setup. It requires a certain extent of protection to personal assets in case the new setup loses or goes bankrupt

●Public company: This is the correct type of business for a business that demands more than 50% shares owned by the investors.

Trade license

Once the type of business is decided, the next step is to get the trade license. People who already hold a general partnership or sole partnership can simply register the business anywhere in the free zone companies of Dubai, for example, JAZFA or DIFC. They are open and available 24 hours, seven days a week. Apparently, there are four major types of trade licenses used in the UAE;

(GTC) A GENERAL TRADE LICENSE: this type of license requires at least three local staff members specifically designed for UAE national employees. It allows one to run their own business across the emirates.

(AEO) authorized economic operator license: this visa is specifically for people with businesses that run through import and export; it involves and provides custom accessibilities, for example; quick procedures of cargo through airports and ports in Dubai.

(CRC) commercial registration certificate: in order to start a business under such license, it is obligatory to have at least 50 percent of Emirati ownership in Dubai.

Self-employed person license: this license is specifically designed for freelancers who run their own company independently and do not have any employees. This business license is mostly required for athletes, musicians, and foreign artists visiting Dubai occasion

Secure warehouse and office space

Before beginning any business or small setup to have a warehouse or office space is the first step. Rent out a nice space which can be either used as a warehouse or an official office. In order to attain a warehouse, a free license is required. It comes with certain limitations regarding operation and storage. Free ones such as IFZA come with a facility for conducting operations on a virtual office, depending on the requirement.