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Fundamentals of establishing own business in UAE

For those of you who thought that doing business was any easier in UAE, they should think again, as it is not. You as an entrepreneur will be going through several things even before you had applied for LLC company formation in Abu Dhabi or any other state. By the way, LLC company is not the only option for entrepreneurs. They can start a business in partnership, or register for an offshore business if they like. In fact, there are several options available so you don’t have to limit yourself to some options only. If this is your first attempt to do business in UAE, then the paperwork may take more time than usual. Keep in mind that you are someone who is entering the business market of the UAE for the first time. The entire registration process may take longer than usual. However, if you were involved in a business in this country previously, then that must be mentioned in the documents. In other words, you from registration of business to verifying your own documents, everything will be checked for verification purposes.

Securing a license/ bank account

It should be understood that you will have to submit an application form for securing a license to do business. Here, you will be mentioning the type of license you need. Of course, that will depend on the type of business you have in mind. Applying for a business license is a simple process but you will need to have a bank account in the country. It is mandatory so you will be filling the form anyway. For those looking to do business in the free zone, they must open the account in a local bank. You will also have to reveal the source of the capital that you intend to put in the bank. This is necessary and the capital must stay in the account at least until the registration process is completed.

Registering the business

The process will begin by identifying your credentials and documents. From your passport to visa, date of entry, expiry – everything will be taken care of. It is up to you to ensure that all your documents are up to date and attested. Keep in mind that attestation of documents is mandatory so do the needful and have them all attested from a reputable attestation company.

In case you are finding the process a little too complicated, you can hire pro services in UAE to do it all for you.