STEPS FOR COMPANY FORMATION IN UAE

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STEPS FOR COMPANY FORMATION IN UAE

Determine the Type of Company: Decide between an onshore, free zone, or offshore company based on your business needs and location preferences.

Choose a Business Activity: Define the activities your business will undertake to determine the appropriate license.
Select a Company Name: Pick a name that complies with UAE naming conventions and is not already in use.
Choose a Business Location: Decide on a physical or virtual office space depending on the type of company you’re setting up.
Prepare and Submit Documents: Gather and submit necessary documents, including passports, proof of residence, and legal forms, to the relevant authorities.
Obtain Initial Approval: Secure initial approval from the relevant authority to ensure your business activity is compliant with UAE regulations.
Draft Legal Documents: Prepare and finalize the Memorandum of Association (MOA) and Articles of Association (AOA) for your company.
Register the Company: Register your company with the Department of Economic Development (DED) for onshore companies, or with the free zone or offshore authority, as applicable.
Obtain Business Licenses: Acquire the necessary business licenses based on your company’s activities.
Set Up a Corporate Bank Account: Open a corporate bank account by providing the required documents and resolutions.
Arrange for Visas and Permits: Apply for residency visas and any required permits for yourself, employees, and dependents.
Comply with Local Regulations: Ensure compliance with UAE labor laws, health and safety regulations, and other legal requirements.
Begin Operations: Start your business operations once all registrations and licenses are in place.
Maintain Compliance: Continuously adhere to UAE regulations and stay updated with any legal changes.