There are four main types of businesses in Dubai, however, each category has its own subdivisions. In fact, the Dubai Department of Economic Development (DED) reports a year-on-year increase of 13% in the number of new companies seeking to do business in Dubai. Dubai's growing economy presents many opportunities. Services, finance, commerce and real estate (26% of properties) are returning profits.
In addition, the city is one of the most cosmopolitan cities in the Middle East. A sole proprietorship is owned by a single person who has control of all its operations and owns 100% of the shares of any profit. This business entity is the simplest form of corporate structure in the United Arab Emirates and does not impose any special requirements other than having a residence permit in the case of a foreign citizen. Likewise, any debt or financial obligation will be borne by its owner.
While these legal forms are open to most business activities, some general rules must be followed before a sole proprietorship can proceed. This type of business is also called a private limited company in the United Arab Emirates. It can be formed through a minimum partnership with at least 3 investors. Such legal structures are compatible with all types of commercial and industrial activities, in addition to professional business.
A citizen of the GCC can own up to 100% of the shares. A public limited company is defined as a legal entity. A public limited company is also called a public limited company (PJSC) in the United Arab Emirates. During the process of incorporating the company, the commercial name must not come from any associated investor, except if the name is a patent of a shareholder or if the name has the right to a store that belongs to the shareholder.
Recognized professions, such as a doctor, accountant, engineer and lawyer, can open a civil company in the United Arab Emirates. The company can have partners who own 100% of the shares and the activities allowed by civil society can only be owned by a professional company. As the name suggests, a sole proprietorship is owned by a single person who is in control of all its operations and owns 100% of the shares of any profit. This type of business is also called a Private Joint Venture (PJSC) in the United Arab Emirates.
It can be formed through a minimum partnership of AED 5,000,000 from at least 3 investors. These legal structures are compatible with all types of commercial and industrial activities, in addition to professional ones. A public holding company is defined as a legal entity whose capital is a minimum of AED 30,000 with transferable shares of equal value and each shareholder is responsible only to the extent of their capital. The business name of the company must not come from any associated investor, except if the name is a patent of a shareholder or if the name has the right to a store that belongs to the shareholder.
Business Setup Worldwide Services FZE Office no, 1502, Level 15, Dubai World Trade Centre, Sheikh Rashid Tower, Sheikh Zayed Street, Dubai. A general partnership can be established by two or more partners. Both partners are responsible for the company and for all its commitments and responsibilities. This type of company can only be formed by citizens of the United Arab Emirates.
The names of the partners can be included in the company name. A joint venture is similar to a partnership in that it consists of at least two citizens of the United Arab Emirates. In this case, only one of the names of the partners can be used in the company name. Joint ventures are also commonly referred to as consortiums.
As you can see, if you have the right knowledge, business setup in Dubai and the United Arab Emirates doesn't have to be too complex. All of the following types of company incorporation in Dubai can be established on the mainland, and many are also allowed within the free zones of the United Arab Emirates. The reason why a variety of business configurations are flourishing in Dubai is due to the opening of different types of businesses in Dubai. The Business Incorporation Zone (BIZ) team of experts can help you in this step, and also in the rest of the company's formation process.
As a functional means to expand and increase commercial reach in all countries, branches serve as an operating vehicle to establish the company's presence in new regions and improve sales and revenue prospects. The company can have partners who own 100% of the shares and the activities allowed by civil society can only be professional businesses. It all comes down to the type of business you want to start and where in Dubai you want to start a business. Because every company needs a unique structure to be incorporated, the United Arab Emirates provides different legal ways to start a business in Dubai and helps companies to establish, grow and prosper.
Eleven different types of companies can be established, but according to the United Arab Emirates business consultancy, PKF, the government does not encourage the formation of companies limited by shares or command associations. This type of company is similar to the public version in that there is a minimum requirement of three directors. Read the options below to see what types of business start-ups in Dubai are best suited for your business. .
Leave a Comment