Faqs

COMMON QUESTIONS AND QUERIES

Why select Dubai to start a business?

Dubai leads the way in terms of its advantages for a new business setup like tax-free environment, global corporate hub, fair laws and govt. commitment to support and growth of the entity.

What is the procedure to set up a business in Dubai?

Initially, you need to select the business structure that is best suited for your organization. For registration, obtaining a license is mandatory. At Dubai Business Solutions, we will take care of all these formalities to streamline the process in a smooth way.

Can a foreign citizen start a company in Dubai?

Yes, of course! Dubai boosts foreign investments by giving 100% foreign ownership in the Free Zone areas. For a clear picture, our consultants will explain in detail to you.

How can I reduce the cost of investment of a new company?

Dubai offers affordable Free Zone options that you can go for. You can consult us to decide the most suitable plans along with open alternatives for shared office space too.

What is the exact cost needed to set up a corporate entity in Dubai?

Investment is determined by various factors like nature of business and its location. However, the minimum investment may not be less than 10,000 AED on the Free Zone, which can go higher on Mainland. At Dubai Business Solutions, you get the best deal that matches your specific corporate investment requirements.

Here are some Important Faqs to Consider When Opening a Business in Dubai.

Yes, without opening a corporate bank account in Dubai, you are not eligible to do business here.

No, not at all. In fact, NRIs are given special attention to open up their corporate bank account in Dubai, but they still need address proof, residency visa, or recruitment letter.

Yes, you need to deposit a minimum amount and maintain minimum balance to open a corporate account in UAE.

There is no definite minimum time period to open up a corporate account since it can be based on some major factors like the nature of business and authenticity of the documents you provide.

 No, it is solely based upon the banks to accept or reject the application because there are many conditions that determine its success. However, our consultants at Business Solutions in Dubai make certain that all your documents are in lieu with the requirement of the law for an early approval of your application.

Procedures To Know:

Procedure to renew your DED Trade License in Dubai

The foremost document to start your business is a DED license that you need as a legal identity which validates any lawful pursuit. Hence it is mandatory that every business owner must renew their license on time each year for a smooth flow of trade and reputation. 

Steps for license renewal in Dubai:

  1. First recollect these important documents:
  • Copies of each shareholder’s passport.
  • Copy of latest MOA if it was amended.
  • Trade license number.
  • A filled out BR/1 form.
  • A latest lease agreement registered with Ejari.
  • An NOC from the sponsor.
  1. Document submission:

The above documents need to be submitted to the Dubai DED for a license renewal after authentication of the lease agreement.

  1. Investigation and Confirmation:

Post the document submission, the DED will go through each of them and conduct an on-site investigation for authentication of the documents. 

  1. License renewal certificate:

Once renewal of the license is approved, a paper certification of a new trade license will be issued at the DED office which also can be had online through the DED eServices portal. 

For a trade license renewal, traditional methods of application can also be done through authorized service agents and company advisors after the license is lapsed. You also have the trade license renewal mobile app in Dubai. Online payment methods also makes it easy by exchanging a text message on 6969 

Important points to note: –

  1. Before you apply for a trade license renewal, you must not forget to clear any or all of your outstanding dues. These may include non-compliance penalty and late DED trade license fine. It is advisable to pay them in full for a smooth flow of the procedure.
  2. Always go for a license renewal one month prior to the expiry of your existing license.
  3. It is pertinent to be in touch with business consultants for information about any amendments in the DED rules and regulations on compliance guidelines.

It is always wise to take help from the experts who can provide better solutions for legal and operational survival of your business setup in Dubai.