1. Determine Business Activity:
- Identify the specific business activities you plan to undertake. The type of license you need will depend on these activities.
2. Choose a Business Name:
- Select a unique and appropriate name for your business, keeping in mind the guidelines provided by the Department of Economic Development (DED).
3. Find a Local Sponsor:
- Depending on the legal structure of your business, you may need a local sponsor, who will hold at least 51% of the shares. This is a requirement for certain business structures.
4. Obtain Initial Approval:
- Submit the required documents to the DED for initial approval. These documents typically include a business plan, passport copies, and other relevant details.
5. Draft a Memorandum of Association (MOA):
- Work with a legal consultant to draft the MOA, which outlines the company’s activities, ownership structure, and other essential details.
6. Choose a Location:
- Select a suitable physical office space for your business. The DED may have specific requirements for the size and type of office based on your business activity.
7. Obtain Final Approval:
- Submit all required documents, including the MOA and office lease agreement, to the DED for final approval.
8. Pay Fees and Obtain License:
- Pay the necessary fees and obtain your business license from the DED. The license is essential for legal operations in Dubai.
9. Register with the Chamber of Commerce:
- Register your company with the Dubai Chamber of Commerce and Industry to become a member.
10. Open a Corporate Bank Account:
- Once you have the license, open a corporate bank account in the name of your company.
11. Visa Processing:
- If you or your employees need visas, initiate the visa processing through the General Directorate of Residency and Foreigners Affairs (GDRFA).
12. Register with Tax Authorities:
- Depending on your business activities, you may need to register with the Federal Tax Authority for Value Added Tax (VAT).
