Everything you need to know about company formation in the UAE

09 Apr 2023
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Business

If you are considering starting a business in the UAE, there are many things to keep in mind. One of the most important decisions you will make is the type of company formation that is right for you. In this blog, we will provide you with everything you need to know about company formation in the UAE, including free zone company setup, setting up a business in UAE, and Ras Al Khaimah business setup.

The UAE offers a business-friendly environment, making it an attractive destination for entrepreneurs and investors. There are various types of company formations available, each with its own unique benefits and requirements.

Free zone company setup is one of the most popular options for entrepreneurs in the UAE. Free zones are designated areas where foreign investors can own 100% of their businesses without the need for a local partner. There are more than 45 free zones in the UAE, each specialising in different industries. For example, there is one designed for media-related companies, while another is intended for technology-related businesses.

Steps to start a business in the UAE
To start a business in the UAE, you will need to follow specific procedures, which vary depending on the type of company formation you choose. Here are the general steps you will need to follow:

Choose a company name and activity
The first step is to choose a name for your company and determine the business activity. It is essential to ensure that your chosen name complies with the UAE's naming conventions and does not infringe on any existing trademarks.

Apply for initial approval
Once you have chosen a name and activity, you will need to apply for initial approval from the relevant authorities. This step involves obtaining an initial approval certificate, which will allow you to proceed with the company formation process.

Obtain a business license
Depending on the type of business activity, you will need to apply for a specific type of business license. The license requirements and application process can vary, so it is essential to consult with a legal expert or a business setup consultant.

Finalise company registration
Once you have obtained your business license, you can proceed with finalising your company registration. This step involves submitting all necessary documents to the relevant authorities, such as the Memorandum of Association and Articles of Association.

Open a corporate bank account
After finalising your company registration, you will need to open a corporate bank account to efficiently manage your business transactions.

In summary, company formation in the UAE offers various options for entrepreneurs and investors, including free zone company setup, setting up a business in UAE mainland, and Ras Al Khaimah business setup. The UAE's business-friendly environment, strategic location, and world-class infrastructure make it an ideal destination for businesses looking to expand their reach in the region. By following the necessary procedures and working with an experienced consultant, you can set up your business in the UAE and take advantage of the many opportunities it offers.

Need help starting your business? RAKEZ is here!
Starting a business in a foreign country requires you to explore the legal formalities and regulations. Therefore, It is recommended to seek the guidance of an experienced business setup consultant when starting a business in the UAE to ensure a smooth and hassle-free setup process. They also can help you with valuable advice on legal procedures, taxation, licensing, and other necessary requirements.

If you are in need for a reliable business setup expert, look no further. Ras Al Khaimah Economic Zone (RAKEZ) is a one-stop desination for everything you need to convienently start a business in the UAE.

To speak with a business setup consultant, contact RAKEZ today:
Phone: +971 7 204 1111
Email: info@rakez.com

Everything you need to know about company formation in the UAE

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