Dubai Trade License: How To Open Documents Clearing Company In Dubai 2024 - Business In UAE
38To start a document clearance business in Dubai, you need to follow the below steps.Dubai Trade License: How To Open Documents Clearing Company In Dubai 2024 - Business In UAE
Choose the right legal form for your business
Register the trade name
Apply for initial approval
Draft Memorandum of Association/Local Service Agent Agreement
Get additional government approvals
Apply for Business License
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Choose the right legal form for your business
You can start your business as a Sole Establishment, where the expatriate or foreign citizen can be the full proprietor of the business and the UAE citizen can be the regional agent.
Another option is to initiate your document clearance business as a Civil Company where there can be more than 2 overseas resident partners and the UAE resident can be the regional partner.
The third option is that you start your business as a Limited Liability Company where the UAE citizen has 51% of the equity and the migrant has 49% equity.
Register the trade name
Apply for initial approval
Initial approval is a preliminary approval granted by the UAE Government to allow a foreign investor to proceed with setting up a business in the country.
Based on the specific type of your business you might require additional government approvals as well.
It is better to have an experienced consultant by your side at this stage as they will help you in getting all the government approvals required for your business.
Apply for Business License
Once you have completed all the above steps it is now time to apply for the business license. The type of business license you will apply for depends on the primary activity of your business.
Once you have the business licence, you can start practicing business activities legally in Dubai.
You need to submit the following documents for registering your company in Dubai:
Copy of the passport of the shareholders and directors
Copy of the national identity card of the directors and shareholders
Recent bank statements, credit card statements or utility bills containing the name and residential address of the shareholders and directors
Initial approval receipt and all the previously-submitted documents
Copy of the lease contract duly attested by the Real Estate Regulatory Agency (RERA) in Dubai
Duly attested memorandum of association
Approvals from other government entities concerned, as may be required
However, based on a rough calculation, it might cost you AED 15000 to 20000 to set up a business in Dubai.
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