Starting a New Business Setup in Abu Dhabi in 2023?
UAE offers much more to the global business world than just its unique and varied tourist sites. Because of its open and dynamic economy, low tax rates, low import taxes, and advantageous location, the nation is a hub for direct foreign investment.
The administration has worked nonstop to make doing business in the United Arab Emirates simple. The capital has received extra attention.
Guide for Starting a Business in Abu Dhabi, Step By Step-
The capital of the UAE offers numerous advantages to international firms as it is the largest emirate in terms of territory and is home to the second-largest population in the UAE. Additionally, it offers fantastic chances for startups and SMEs to aim for exponential growth. The UAE’s recent law enabling 100% foreign ownership has also created countless opportunities. As a result, several domestic and international corporations have been considering setting up business setup services in Abu Dhabi.
Setting Up Shop in Abu Dhabi-
The UAE has business-friendly regulations. Both domestic and foreign investors are welcome to invest with the government. In Abu Dhabi, establishing a business is simple and without much red tape.
The actions listed below should be taken by investors who want to open a business setup consultant in Abu Dhabi.
The identification of the business or commercial activity is the first step. Depending on your firm’s type, each law has different requirements and different licensing fees. In the United Arab Emirates, there are six different kinds of business licenses: industrial, tourism, professional, commercial, agricultural, and occupational. Once you make a business decision.
Legitimate Form of Business-
The ownership structure must be selected when establishing business setup services in Abu Dhabi. There are numerous choices available. Various laws and regulations apply to different legal forms, so care must be taken when choosing a system. The choices comprise:
- Partnership in general
- Exclusive relationship
- A corporation with limited liability (LLC)
- Publicly traded joint stock corporation (PJSC)
- Individual joint-stock company (prjsc)
- Public sector
- Branch of a local enterprise
- GC Company Branch
- A foreign department of a firm
- Free zone company branch
- Single-location business
- Company holdings
Registering a Trade Name-
Choosing your trade name is an important step when thinking about starting a business setup consultant in Abu Dhabi. After deciding on a word, you must register it with the emirate’s Department of Economic Development (DED).
Government Approvals, In Addition-
Additional clearances from specific governmental bodies may be necessary for some circumstances. A few of these are:
- Interior Ministry
- Department of Justice
- Regional Municipality
- Digital Government Regulatory Authority for Telecommunications (TDRA)
- Governing Council
- Department of Economy
- Local health agencies
- Supreme Council for Petroleum
Business License Issuance-
When you have finished the processes mentioned above for starting a business in Abu Dhabi, you can pick up the business license from the Economic Departments’ service centers. On their websites, you can also purchase the license. All legal forms require the following documentation to be licensed:
- Receipt for initial approval.
- All of the previously provided materials.
- Authenticated copy of a leasing contract from the real estate regulatory agency (RERA).
- Memorandum of association properly attested (for all company types) the consent of additional governmental bodies.
- Agreement with a service agent that has been duly attested (this also applies to local service agents) for civil establishments that are 100% owned by Non-GCC nationals.
The Golden Visa is available to entrepreneurs from all over the world. For additional details on the requirements and other requirements, please see our guide to the Business Gold Visa in the UAE.
This concludes our overview of how to launch a business in Abu Dhabi. The UAE government has made significant efforts recently to make it easier to start a business setup services in Abu Dhabi.