Steps to establish a company in Dubai at the lowest costs

13 Jun Steps to establish a company in Dubai at the lowest costs

When entrepreneurs think about starting a new company in Dubai, the first question they ask is how to get started and reduce costs. In light of the intense competition and increasing requirements for establishing companies, it has become necessary to search for effective solutions that save time, effort and money.

With many options and consulting services available, Itqan Company stands out as one of the distinguished options to help establish companies in the Emirate of Dubai at the lowest possible cost. Thanks to its extensive experience in this field and the comprehensive solutions it provides, the company is able to help entrepreneurs overcome the obstacles and challenges they face in this process.

Through this article, we will explore the practical and feasible steps for establishing a company in Dubai in cooperation with Itqan Consulting, including legal procedures, financial requirements, and other vital aspects of starting a successful business in this thriving emirate.

Steps to establish a company in Dubai at the lowest costs

Steps to establish a company in Dubai 

Itqan Company provides company establishment services in Dubai in innovative ways that ensure you get the lowest possible cost. Here are the main steps to establish your company in Dubai at the lowest costs in cooperation with Itqan Company:

• Determining the company’s commercial activity: The first step in establishing a company in Dubai is to determine the nature of the activity in which you wish to work, as it is considered the most important legal procedure to facilitate the rest of the steps.
• Determine the legal form and interested parties: To determine the legal form of the company, you must determine the type of company to be established, whether it is a company (solidarity, limited liability, public joint stock, private joint stock, and others).

• Reserve the company’s trade name: The trade name is what distinguishes one company from another and must not contain an extraneous word and must express the company’s activity.

• Initial approval certificate: Initial approval to practice the activity must be obtained from the authorities related to the activity.

• Preparing the articles of association and a service agent agreement
• Choosing a headquarters for the company and documenting the lease contract
• The company’s workplace must meet all requirements and all licenses from the municipality.

• Obtaining approvals from the authorities organizing the activity
• Obtaining additional approvals from the competent authorities such as the Ministry of Economy, Interior, Justice or Civil Defense.

• Receiving commercial licenses: Receiving the activity license and then registering as a member of the Chamber of Commerce and joining as a member of the Chamber of Commerce.

Documents required to establish a company in Dubai

To establish a company in Dubai in cooperation with Itqan Company, you will need to submit a set of necessary documents and papers. Here’s a list of the basic papers you’ll generally need:

1. A copy of the passport: for each person participating in establishing the company.
2. Personal photos: of everyone involved in establishing the company.
3. A copy of the residence permit: if one of the shareholders is not a UAE citizen.
4. Company incorporation form: This form includes information about the company such as its name, type, and proposed business activity.
5. Partners Agreement: If there is more than one partner in the company, an agreement must be prepared that specifies the rights and obligations of each partner.
6. Bank certificate: proving the deposit of the company’s basic capital in the bank.
7. Business Activity Declaration: You need to submit a declaration for the company’s proposed business activity.
8. Approval from relevant government bodies: You may need approval from some government bodies in Dubai depending on the type of company and its activity.

This is a general list of required documents, and you may need additional documents depending on the nature and type of company you wish to establish and the directives of the local authorities in Dubai. It is always recommended to speak with Itqan Company’s expert consultants in establishing companies to obtain accurate and comprehensive guidance.

Types of companies in Dubai 

This is an overview of the main types of businesses in Dubai, as requirements and details can vary depending on the nature of the business and the specific type of company. It is always preferable to obtain legal advice from an Itqan company when choosing the type of company that best suits your needs. Here is a table showing the types of companies in Dubai and some key details for each type:

Advantages of Itqan Company in establishing companies in Dubai 

Itqan Company has many advantages in the field of establishing companies in Dubai, which makes it the ideal choice for entrepreneurs and investors. Itqan provides comprehensive legal and administrative consultations that help clients clearly understand market requirements and legal procedures. Thanks to its professional team, the company provides full support at all stages of establishment, from choosing the appropriate type of company, through obtaining licenses and permits, all the way to opening bank accounts and document management. Itqan is characterized by transparency in dealing and continuous communication with customers in order to ensure that the process runs smoothly and efficiently. The company also ensures the provision of innovative solutions to reduce costs and achieve the maximum benefit from investments. Thanks to its deep experience in the local market, Itqan provides new companies with the opportunity to launch with confidence and stability in the dynamic business environment in Dubai.

Documents required to establish a company in Dubai

Itqan Company services in establishing companies in Dubai

Itqan Company offers many advantages in the steps of establishing a company in Dubai, as the company seeks to facilitate the process of establishing companies and provide the necessary support to customers. Here are some of the advantages offered by Itqan Company:

1. Specialized Consulting: Itqan provides specialized consulting to help you choose the right type of company and business activity that suits your goals.
2. Guidance in legal procedures: The company provides guidance and assistance in the legal procedures related to company incorporation, making it easier for you to understand local laws and regulations.
3. Assistance in obtaining licenses and permits: Itqan helps you prepare and submit the necessary applications to obtain the necessary licenses and permits to start work.
4. Administrative Support: Itqan provides comprehensive administrative support that includes services such as reservations, appointments, and correspondence management, which helps facilitate the company’s daily procedures.
5. Providing company establishment services at competitive costs: Itqan provides its services at competitive costs that ensure you get the best services at the lowest costs.
6. Good communication and transparency: Itqan is interested in good communication with its customers and ensures transparency in all operations and costs. By choosing Itqan, you will be sure that you are working with a professional team that will help you establish your company in Dubai with ease.

How to obtain commercial licenses

By completing these steps, you can start practicing your business in Dubai legally. It is useful to use the services of specialized companies such as Itqan Company to facilitate procedures and ensure full compliance with local laws. Obtaining commercial licenses to establish a company in Dubai requires following a set of steps and procedures. Here is how to do Thus:

• Determine the type of business activity: The first step is to determine the type of business activity you want to practice. Dubai offers a wide range of business activities that you can choose from.
• Choosing a company name: Choose an appropriate name for your company that complies with local laws and must be unique and not used by other companies.
• Determine the type of company and its legal structure: Decide on the type of company (e.g. LLC, branch of a foreign company, etc.) and its legal structure based on your business needs and goals.
• Prepare the necessary documents: Prepare all required documents such as copies of passports, personal photos, partners’ agreement (if there are partners), and residence permit (if necessary).
• Submit a license application: Submit an application for a trade license to the Department of Economic Development (DED) in Dubai, or to the responsible body if you are establishing your company in a free zone.
• Approval from relevant government agencies: You may need to obtain approvals from specific government agencies based on the type of business activity (such as the Ministry of Health or Department of Tourism).
• Office Rental: Rent an office in a convenient location to register your company. Some activities require a physical office.
• Deposit Capital: Deposit the required capital into a local bank account and keep proof of the deposit for documentation.
• Payment of fees: Pay the fees required to obtain a commercial license, which include application fees, licensing fees, and any other additional fees.
• Receiving the license: After the application and documents are reviewed and approved by the relevant authorities, you will obtain the commercial license for your company.

Costs of steps to establish a company in Dubai 

The costs of establishing a company in Dubai in cooperation with Itqan Company depend on several factors, including the type of company, commercial activity, and additional services you need. Here are some items that may involve costs:

• Legal Consulting Costs: These include legal consulting costs to help you choose the appropriate legal structure and provide advice in the legal proceedings.
• Costs of arranging procedures: These costs include arranging the procedures necessary to establish the company, such as preparing and submitting legal documents.
• Licenses and Permits Costs: These costs are related to obtaining the necessary licenses and permits to start a business in Dubai.
• Virtual office costs: If you do not need a physical office, you can use the virtual office service provided by Itqan Company to save on rental and maintenance costs.
• Supervision and coordination costs: These costs include supervising all the steps necessary to establish the company and coordination between you and the relevant authorities.
• Support and follow-up costs: Support and follow-up costs can include additional services provided by Itqan, such as assistance in opening a bank account or arranging taxes.

These are just potential cost elements, and the costs of establishing a company in cooperation with Itqan Company can vary depending on the size and scope of the company and the specific services it needs.

In conclusion, establishing a company in Dubai in cooperation with Itqan Company represents a strategic step to achieve success in the city’s dynamic and growing business environment. Thanks to its extensive experience and specialized team, Itqan provides comprehensive support and professional guidance at all stages of establishment, from choosing the most appropriate type of company until obtaining the necessary licenses and permits. Itqan distinguishes itself with its innovative and efficient services that facilitate procedures and ensure full compliance with local laws, providing business owners with peace of mind and focus on achieving their business goals. Collaborating with Itqan Company not only enhances the chances of success, but also ensures a strong and sustainable start for your company in the thriving Dubai market.

Frequently asked questions about establishing a company in Dubai