13 steps to incorporating in Dubai in 2021
- Client due diligence and commitment: Prior to company incorporation, our Client i) settles Healy Consultants fees, ii) signs and returns our Client engagement letter and iii) provides us with all the required due diligence documents;
- Planning phase: Our experts draft a detailed engagement project plan, mapping out by week each step to engagement completion, optimizing transparency, and setting Client expectations for the registration process. Healy Consultants then assists our Client to determine i) what type of Dubai business entity is required ii) what class of business license is required iii) how a UAE national sponsor will help iv) Dubai corporate banking and cash flow considerations and v) employment visa strategies;
- Corporate structure: The exact Dubai corporate structure is agreed upon with our Client. For engagements requiring a local joint venture partner, Healy Consultants provides our Client detailed due diligence information about the 51% local shareholder. A detailed legal shareholders contract is signed between our Client and the UAE national, clearly defining all roles and responsibilities in the company;
- Documents preparation: Healy Consultants Group PLC prepares and sends to our Client a list of documents required for a company registration, which needs to be i) certified by a Notary Public ii) attested by the Ministry of Foreign Affairs and iii) legalized in the UAE embassy in the origin country of the documents. Upon receipt of the original documents, Healy Consultants Group PLC prepares Arabic translation and attests the same in the Ministry of Foreign Affairs and the Ministry of Justice in Dubai;
Phase 1: Name reservation and application submission to Department of Economic Development (DED)
- Healy Consultants i) reserves the proposed company name and ii) obtains preliminary approval on the business activities, trade name, and identity of partners (if applicable) by completing the application and licensing from the Department of Economic Development and iii) prepares company deeds of establishment and articles of association and submits for notarization by a notary public in the Dubai courts;
Phase 2: Documents filing with DED and registration with the Dubai Chamber of Commerce and Industry (DCCI)
- Healy Consultants then i) notarizes and files all the company documents with the Commercial Registry at the DED Trade License and Commercial Registration Department and ii) settles the required fees and registers the company for membership with the Dubai Chamber of Commerce and Industry (DCCI);
Phase 3: Securing business premises
- Our Client supplies Healy Consultants Group PLC with a 12 months lease agreement for their office premises. If required, Healy Consultants Group PLC will assist our Client i) to find an office space according to our client’s needs; ii) to secure a lease agreement with a landlord and iii) to submit a lease agreement for Ejari attestation. Otherwise, Healy Consultants Group PLC will supply virtual office services for 6 months until our Client finds their preferred business address;
Phase 4: Corporate bank account opening
- Healy Consultants Group PLC will prepare a detailed quality business plan to support a Dubai multi-currency corporate bank account opening with a leading local banks such as Emirates NBD, Emirates Islamic, First Abu Dhabi Bank etc. Healy Consultants Group PLC will secure a one-hour meeting with the bank officer in our Dubai office. Our Client deposits the paid-up share capital (if required) and supplies Healy consultants Group PLC with a certificate of deposit and bank statement;
Phase 5: Trade license application
- Next, Healy Consultants prepares the license application for our Client’s business activity. Under the Dubai law, our Client will apply for one of the following: i) commercial license (for engaging in trading business) ii) industrial license (for setting up a manufacturing business) and iii) professional license (for offering services including accountancy and consultancy);
- Before the license application is submitted, if required Healy Consultants will assist secure a local UAE partner and draft a service agreement to submit to the DED along with i) the MOA ii) the name approval certificate iii) the lease agreement and iv) the certificate of capital deposit. Within three weeks, business license approval is received. However, for some business activities, additional permits from the government authorities will also be required; this will increase time period for license approval;
Phase 6: Company registration finalization
- Subsequently, Healy Consultants assists our Client to register the UAE LLC with the Company Registry Office and obtains a Company Registration Certificate from the Ministry of Commerce. Thereafter, the company MOA is published in the Ministry of Economy and Commerce‘s Bulletin;
- Depends on our Client’s business activity, The Ministry of Economy may ask our Client to provide the additional letter signed by the parent company, stating the purpose of the branch registration and its intended business activity in the UAE. If this happens, we expect further engagement delays.
- Healy Consultants Group PLC then i) applies for an establishment card from the Ministry of Labour ii) registers the company with the General Directorate of Residency and Foreigners Affairs (GNRD) iii) registers the company for VAT with Federal Tax Authority (if required);
- Following engagement completion, Healy Consultants couriers a full company kit to our Client, including original Dubai corporate documents, unopened bank correspondence, and a Client feedback survey.
Frequently asked questions
Is it mandatory to appoint a company secretary for a Dubai company?Yes. If you wish to incorporate a Dubai company, you will need to appoint a resident secretary for the new company.
How much capital will I be required to deposit when incorporating a company in Dubai?When incorporating in Dubai, the amount of capital required will depend on the company structure. For instance, an LLC only requires a minimum deposit of US$1 while a FZ company requires US$62,000 for incorporation
What Dubai company incorporation services can Healy Consultants offer my firm?As Dubai incorporation service providers, Healy Consultants will assist our Clients with i) company registration ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental requirements. Our experts are Dubai business incorporation specialists and will send our Clients weekly updates till engagement completion.
What will be the Dubai incorporation timeline?For company incorporation in Dubai, the average time required will be approximately 15 weeks.
Will there be any restrictions for non-resident entrepreneurs when they incorporate in Dubai?While foreign entrepreneurs will be allowed to pursue business activities of their choice, they will be required to appoint a UAE national as the 51% shareholder for their company.