Setting up a business in the UAE can be a lucrative venture for entrepreneurs from all over the world. The country has become a hub for business, attracting individuals from various nationalities to establish their trade in the flourishing market. However, to start a business in the UAE mainland, there are certain steps that need to be followed according to the Ministry of Economy.
First and foremost, one must be at least 18 years of age to set up a business in the UAE, as per the Commercial Transactions Law in 2023. The process of starting a business in the UAE mainland involves applying through the unified Basher platform or the website of the concerned emirate’s economic department. Additionally, applications can be submitted in person through government service centers, Tasheel offices, legal services offices, OnTime offices, or customer happiness centers of the emirate’s Department of Economic Development.
Identifying the type of license and legal structure for your business is key in the initial stages of setting up a business in the UAE mainland. The country offers six main types of economic licenses, including occupational, tourism, industrial, commercial, agricultural, and professional. It is also important to choose the appropriate legal structure for your business, as it will determine the laws and regulations that your business will need to follow.
Registering a unique trade name for your business is crucial, and certain conditions must be followed to ensure compliance with regulations. The trade name must not bear resemblance to any other company, and it must be compatible with the nature of your business. Additionally, obtaining initial approval and agreements from the UAE government, as well as choosing a suitable location for your business, are essential steps in the setup process.
Submitting required documents and paying fees to obtain a business license is the final step in setting up a business in the UAE mainland. Once the license is obtained, it is necessary to register with the Chamber of Commerce and Industry in the corresponding emirate of your company. Following these steps will ensure a smooth and successful establishment of your business in the UAE mainland, allowing you to tap into the thriving market opportunities offered by the country.
