Establishing companies in the Emirates for minors

Company in the Emirates

Establishing a company in the UAE requires following specific legal procedures, which vary slightly depending on the type of company and the emirate in which you wish to establish it. Here is an overview of the procedures necessary to establish a company in the UAE:

• A sole proprietorship can be established (by one person) or a joint-stock company (by a group of partners).
• The appropriate type should be chosen based on the nature of the business and financing needs.
• You must choose a name that is unique and not similar to any company already in the official database.
• The company’s activity must be strictly defined according to the approved activity classifications.
• All required documents must be provided, such as passport, residence permit, and other documents as needed.
• The application to establish the company must be submitted to the competent government authority in the relevant emirate.
• The application and submitted documents are reviewed, and then the necessary approvals are issued.
• After obtaining approvals, the necessary contracts are signed to establish the company and determine the rights and obligations.
• The company is registered in the local commercial registry in the relevant emirate.
• You must obtain the necessary licenses to practice commercial activity, and these licenses may vary depending on the type of activity.
• A bank account is opened in the company’s name to manage financial matters.
• You must register with your local tax authority and comply with all tax obligations.
• After completing all necessary procedures, doing business can officially start.

These basic steps form a general framework for the process of establishing a company in the UAE. You should consult a local attorney or legal advisor to ensure full compliance with local laws and regulations.

Establishing companies in the Emirates for minors

Establishing companies for minors in the UAE requires compliance with many laws and regulations. A guardian must be present and agree to the incorporation process, and an adult must be appointed in charge of the company. This process is regulated in accordance with Federal Law No. 2 of 2015 regarding the regulation of commercial companies in the Emirates.

Establishing businesses for minors also requires attention to the human aspects of the process. There must be a close understanding between the minor and the guardian about his desire to establish the company, with an understanding of the obligations and responsibilities that this entails. It is also necessary to appoint an adult company manager who will take full responsibility for the day-to-day management of the business.

Establishing companies for minors in the UAE represents a legal and human challenge that requires good preparation and planning. Subject to strict legal procedures and human considerations, minors can realize their entrepreneurial dreams in this exciting business destination.

Establishing a company in the Emirates

The United Arab Emirates encourages investment of all kinds. It has recently enacted laws that strongly encourage young people to enter the field of investment, and by establishing a company in the Emirates. Minors, those who have reached the age of majority, or those who have completed 18 full Gregorian years, have the right to establish a private company. From now on, they can achieve huge profits through the expansion of investment opportunities in Dubai and the Emirates.

Law enabling minors to establish companies

The Ministry of Investment and International Cooperation in the Emirates confirmed that the new project affiliated with the Companies Establishment Law regulates the stages of an individual’s life, the stages of his maturity, his mental awareness, and how to acquire the expertise that qualifies him as a financial worker, especially in the field of establishing companies, as it involves a branch of financial speculation, and therefore the matter is not without possibilities. Taking risks with the aim of making profit and avoiding loss.

The report continues that the conditions for starting a founder are that he must have reached the legal age of majority, that is, 21 years of age, and it is also assumed that the individual has broadened his awareness and acquired the cumulative experience that qualifies him to practice commercial activity.

The report indicated that the legislator has permitted a minor, upon reaching the full year of 18 years of birth, with permission from the competent court, to begin commercial activities, including establishing companies, within the limits and conditions stated in the declaration. In this case, he is called a minor authorized to trade.

Why can a minor establish a company in the UAE?

In the United Arab Emirates, a minor is considered a person under the age of majority but has the ability to establish a company with the approval of his guardian or parents, under the laws and legislation related to businesses and companies in the country.

1. Appropriate legal environment: The UAE has an appropriate legal environment that allows minors to participate in business activities, provided they obtain legal approval.
2. Encouraging entrepreneurship: The UAE encourages young people and minors to innovate and achieve success in the business world, and provides the necessary support through educational and training programs and legal and regulatory support.
3. A culture that encourages entrepreneurship: Emirati society contributes to promoting a culture of innovation and entrepreneurship, which motivates minors to turn their ideas into commercial projects.
4. Communication technologies and advanced technology: The UAE has a technological infrastructure that makes it easier for minors to manage and develop their companies with high efficiency.
5. Government support and guidance: The UAE government provides support and guidance to young people and minors who wish to establish their companies through programs to support entrepreneurship and small and medium businesses.

Itqan Company plays a vital role in helping minors establish their companies in the Emirates, by providing legal advice and assistance in registration procedures and obtaining the necessary licenses, in addition to providing continuous legal support and advice to ensure the continued success of companies.

Age and eligibility requirements for establishing companies for minors in the UAE.

In the UAE, a minor is considered a person under the age of majority but can establish a company with the approval of his guardian or parents, provided that certain conditions and requirements are met.

1. Age: The minor must have reached the age of majority, which is usually 18 years, but these limits can vary according to local legislation in each emirate.
2. Legal approval: The minor must obtain the approval of his legal guardian or legal guardian to establish the company.
3. Legal agent: It may be necessary to appoint a legal agent to represent the minor’s financial interest in the company.
4. Legal Procedures: Specific legal procedures must be followed for establishing companies, including submitting the required documents and signing contracts and agreements.
5. Licenses and permits: The necessary licenses and permits must be obtained from the competent authorities in accordance with the company’s scheduled activity.

Itqan Company plays an important role in helping minors establish their companies in the Emirates, as it provides the necessary legal advice to ensure compliance with legislation and legal requirements, in addition to helping minors prepare and organize the necessary documents and procedures to establish the company and obtain the necessary licenses. It also provides ongoing legal support to ensure the continued success of companies and compliance with legislation and legal controls in the UAE.

The cost of establishing companies in the UAE for a minor

The cost of establishing a company in the Emirates for minors varies according to your choices and the specific spaces, as well as the place you will choose to establish a company in Dubai for foreigners, and knowing the spaces in which the projects will be held. There is also choosing the place according to the type of activity, and also there are free zones where the prices of companies and projects differ more, as Establishing a company in Dubai for locals is different from establishing a company in Dubai for foreigners, and so on. There are several points to know the costs of establishing a company in the free zone and Al Qasr, which are:

• Pay the fees for renting the area or location of the company to be established.
• Paying commercial activity fees to the relevant institutions.
• Payment of trade name and commercial registration fees.
• Paying all bank dues for the stages of conducting commercial activity in its free zones.
• Determine the value of profits and conduct a complete feasibility study in order to reach the best results after paying taxes and state dues.
• Pay the price of the commercial license in Dubai or the value of the instant license in Dubai if the investment location in Dubai is in one of the free zones such as Jebel Ali Free Zone.
• You must adhere to everything approved by the UAE legal authority and strictly apply all fees that may be imposed.

Steps to establish a company for a minor

In order to reach a high degree of professionalism, before thinking about establishing a company in Dubai, you must know everything related to the steps of investment in Dubai. There are many steps for establishing a company for a minor that must be adhered to and followed to achieve the greatest return on investment in Dubai, and these steps include:

Determining the goal of investment: It is to renew any field in which you want to invest your money, and here you seek to determine the activity that is appropriate for the capital that you specify. It is considered the most important step in knowing how to manage your money in the correct manner, directing your money in the correct investment, and knowing in which field you will put your capital. There are many fields, including the commercial, industrial, or professional financial market or the real estate field, as the real estate field in Dubai is characterized as one of the most important targeted investments because of its strong profitable return and also clear economic stability.

Establishing companies in the Emirates for minors

Conducting a feasibility study for the project: This is a plan that consists of conducting a feasibility study for the project and determining the capital required to invest in Dubai in a large and precise manner, and also making a reserve for it, as every economist must have a large economic portfolio in order not to be exposed to economic loss in the crises that may occur. He has his own company or project that he is starting to implement and makes profit forecasts using a modern and advanced methodological study.

Studying economic market dynamics: This consists of knowing what the market needs. There are some places that need industrial projects, such as industrial zones, such as establishing a company in Jebel Ali, where there is an open market. You must also know the steps for investing in Jebel Ali, as it is one of the most important free zones in the country in which you can Establishing a company in the free zone, and you must also know whether it is compatible with its market needs or not, and also whether it requires multiple activities, and you must know and determine the categories consuming the products that you will provide to them and know how to market them in the appropriate manner and also in the manner that achieves the highest profit for the company or facility that you are establishing. .

Conditions for establishing a company in Dubai

In order to establish a company in Dubai or establish companies in the Emirates for a minor, there are several important steps that must be followed, through which Arab investors can benefit from all the advantages of investing in the Emirates. Here are the conditions for establishing a company in Dubai:

1. Choosing the activity: This is the first step to establishing a company in Dubai or establishing a company in the free zone, as you begin by determining what is the appropriate activity, and this will be determined by the place where you will create the broad base from which you will choose from all economic fields, professional, commercial, and industrial, the appropriate field for you.
2. Commercial registration: This is the second step and is linked to the first stage. The trade name of your company is what distinguishes it commercially from other companies in the same field as yours. There are some conditions in order to obtain the approval of the Department of Economic Development for registration.
3. Initial approval: This is the third step after determining the activity, commercial registration, and choosing the name of the activity. Before the initial approval to establish a company in Dubai for foreigners, you must obtain the approval of the General Directorate of Residency and Foreigners Affairs.
4. Choosing the company’s headquarters: All companies located in the UAE must have a fixed address in the Emirates. Whether establishing a company in the free zone in Dubai, such as establishing a company in Jebel Ali, or outside it, will require you to provide a lease contract certified by the Dubai Real Estate Regulatory Authority. You can add a license to your current activity.
5. Obtaining approvals from the relevant authorities in the facility: such as legal consultations, insurance and transportation activities.
   Obtaining a commercial license in Dubai: To obtain a commercial license in Dubai.

The most important legal advice for minors wishing to establish companies.

Here are some important legal advice for minors who wish to establish companies in the UAE:

1. Legal Approval: Make sure to obtain legal approval from your parent or legal guardian before starting the company formation process.
2. Choosing the appropriate legal structure: Consult a specialized lawyer to help you choose the appropriate legal structure for your company, whether it is a sole proprietorship, partnership, or limited liability company.
3. Legal agent: You may need to appoint a legal agent to represent your financial and legal interest in the company.
4. Licenses and Permits: Make sure to obtain all necessary licenses and permits from the competent authorities in accordance with the company’s scheduled activity.
5. Contracts and Agreements: Establish clearly and detailed written contracts and agreements that regulate your relationship with partners, investors, and customers.
6. Compliance with tax and labor legislation: Ensure compliance with all tax, labor and financial legislation that applies to companies in the UAE.
7. Financial Responsibility: Fully understand the financial and legal responsibilities you may have as a minor who owns a business.
8. Legal protection: Ask about the legal protection of minors and their rights in the event of disputes or legal problems.
9. Complex issues: Avoid dealing with complex legal issues alone, and use legal experts to help solve difficult cases.
10. Compliance with Bank Policies: Ensure that you comply with all bank policies if the company engages in banking and financial transactions.

Itqan Company can provide the necessary legal advice to minors wishing to establish companies, which includes helping them understand the laws and legislation related to establishing companies, protecting their rights, and complying with local and international legal requirements. The company also provides the necessary support to ensure legal compliance and success in their business.

Establishment of free zone companies for minors

Investing by minors in the free zones in the United Arab Emirates is the opportunity awaited by many young investors and field pioneers who want to establish a company in the emerging free zone that is their own, without the need to communicate with a local sponsor, and the investment authorities determine the conditions for establishing a company in Dubai. In cooperation with the Gulf Cooperation Council, this type of company has been allocated to serve the idea of ​​foreign and Arab investment, as it encourages investors to establish their own companies here in the Emirates, as this system is characterized by ease and also low establishment costs.

Our comprehensive steps to facilitate the establishment of a company for a minor and provide the necessary support

Itqan Company provides many services to facilitate the process of establishing companies for minors and provides the necessary support to ensure their success. Here are some ways Etqan can help you:

1. Legal consultations: Providing legal consultations to understand the legal requirements for establishing companies and the rights and duties of minors in this context.
2. Assistance with incorporation procedures: Assistance in completing all procedures necessary to register and establish the company , including organizing documents and submitting them to the relevant authorities.
3. Providing ongoing legal support: Providing ongoing legal support to ensure compliance with legislation and legal protection of the company and the interest of its minor shareholders.
4. Assistance in obtaining licenses and permits: Assistance in obtaining the necessary licenses and permits from the relevant authorities in accordance with the company’s scheduled activity.
5. Organizing contracts and agreements: Assistance in drafting and organizing contracts and agreements necessary for partner, investor, and customer relationships.
6. Providing advice and guidance: Providing advice and guidance to minors on practical ideas and appropriate strategies for the success of their companies.
7. Tax and Financial Guidance: Providing guidance and support in the tax and financial aspects of the company and ensuring its compliance with legal financial requirements.
8. Providing administrative services: Providing administrative services that include managing accounts, financial reports, and daily operations of the company.
9. Communication with government agencies: Communicating with government agencies and relevant organizations on behalf of the company to facilitate administrative procedures.
10. Continuous guidance and training: Providing continuous guidance and training to minors and work teams to develop their skills and improve the company’s performance.

In short, Itqan Company provides a comprehensive package of services to facilitate the process of establishing companies for minors and provide the necessary support to ensure their success and compliance with legislation and legal requirements in the Emirates.

Frequently asked questions about establishing a company for a minor