Investing in Dubai provides numerous opportunities for foreigners. Dubai is a popular investment destination that attracts most of the investors from the outside as per advocates in Dubai. Moreover, it offers tax exemptions as well as quick and cost-effective methods for establishing new foreign companies or opening branches of foreign companies.
Steps to Establish a Company
There are few simple steps for establishing a new company as a foreigner in the UAE, in particular Dubai. However, you might need legal assistance in completing the steps. Below are those steps stated for you.
· Defining the Activity of the Company
The first step is determining the type of commercial activity that the company will engage in. This is highly important to start a company on your own. Once you know the plan, the execution of it is not a hard task.
· Commercial Registry and Initial Approval
The next steps are extracting the commercial registry according to the commercial activity of the company. Then comes initial approval for establishing the company. Initial approval can be obtained from the General Administration of Residency and Foreigners Affairs. this can be made easier by hiring legal assistance in this case.
· Choosing the Location of the Company
It is very important to legally establish the location of headquarters for the company. Since the submission of a lease agreement forms part of the requirements to finalize the establishment of a company in Dubai, it is important to this step accurately. The advocates in Dubai can help you select a good location for the company.
· Obtaining the License
To obtain the license, the registrant must obtain all the necessary documentation. Moreover, it should be together with the approvals from the concerned authorities. Then the business owner must pay the prescribed fees.
Thus, advocates in Dubai are the best choice in this regard.