Requirements for establishing a company in the Emirates

Requirements for establishing a company in the Emirates: In light of the remarkable economic development and growing business environment in the United Arab Emirates, the Emirati market is witnessing an increasing demand by entrepreneurs and companies aspiring to invest and expand in this promising market. However, setting up a company in the UAE requires a deep knowledge and understanding of the complex legal and administrative requirements that must be met. From this standpoint, the importance of cooperating with a specialized consulting company such as “Itqan” company to ensure the establishment of a strong and sustainable company in the UAE is highlighted.

“Itqan” company is considered one of the leading companies in the field of company formation and legal consulting in the Emirates. Thanks to its extensive experience and close relationships with the relevant government agencies, the company is able to help complete all the requirements necessary to establish a company in Dubai or any other emirate efficiently and effectively. This includes providing the necessary legal and strategic advice to choose the appropriate legal form, preparing incorporation and licensing documents, and coordinating with government agencies to obtain the required approvals and licenses.

Collaborating with “Itqan” Company on the requirements for establishing a company in the Emirates will enable entrepreneurs to focus on developing their strategic and operational plans and implementing their business vision, while the consulting company handles the complex legal and administrative aspects. In doing so, the founders will ensure the establishment of a strong and legitimate company in the UAE, which will enhance their chances of success and business expansion in the local market.

Procedures for establishing a company in Dubai

In light of the remarkable economic development and growing business environment in the United Arab Emirates, the Emirati market is witnessing an increasing demand by entrepreneurs and companies aspiring to invest and expand in this promising market. However, setting up a company in the UAE requires a deep knowledge and understanding of the complex legal and administrative requirements that must be met. From this standpoint, the importance of following the right steps and cooperating with a specialized consulting company such as “Itqan” company to ensure the establishment of a company in the Emirates is highlighted . Basic steps to establish a company in the UAE:

• Choosing the legal form of the company: The founders must determine the appropriate legal form for their company, whether it is a limited liability company (LLC), a public or private joint stock company, or other legal forms available in the Emirates.
• Determining capital: The founders must determine the minimum capital required for the chosen legal form, in accordance with the regulations and laws in force in the emirate in which the company is to be established.
• Choosing the location and address: The founders must choose the appropriate location to carry out the company’s activities, and obtain a lease contract certified by the competent government authorities.
• Obtaining the necessary licenses: After determining the legal form and location, the required licenses and approvals are obtained from government agencies, such as a commercial license, activity licenses, and work permits for employees.
• Opening a bank account: The founders must open a bank account for the company to manage financial activities and receive payments.
• Company registration and obtaining a commercial license: After completing all previous requirements, the company is officially registered with the commercial registry in the chosen emirate and obtains a commercial license.

Cooperation with “Itqan” Consulting Company will help the founders follow these steps efficiently and effectively, which will ensure the establishment of a company in the Emirates .

Types of companies available for establishment in the UAE

The United Arab Emirates is one of the most attractive investment destinations in the world. This is due to the vibrant economic environment and business-friendly legislation in this country. When entrepreneurs and investors wish to establish a company in the UAE, they have a number of options and different legal forms for companies, each of which has its own requirements and advantages. Understanding these options and choosing the most appropriate one is crucial to the success of the project. In this context, we will review the various types of companies available for establishment in the UAE. Types of companies available to establish in the UAE:

Limited Liability Company (LLC):

• This legal form is the most common among companies in the UAE.
• Requires a specified minimum capital.
• It is characterized by limited liability of partners to the extent of their shares in the capital.

Private Joint Stock Company (PJSC):

• Requires a specified minimum capital.
• The company’s shares are offered for public subscription.
• Subject to more stringent regulatory requirements than limited liability companies.

Civil company:

• It was established to practice certain professional activities.
• Requires a license from the competent authorities.
• It is primarily non-profit.

Documents required to establish a company

When entrepreneurs and investors wish to establish a company in the UAE, there are a number of official documents and requirements that must be met. These documents ensure compliance with the laws and regulations governing commercial activities in the UAE, and they also facilitate the registration and licensing process for the new company. A good understanding of these requirements is essential to ensure that setting up a company is smooth and legal. In this context, we will review the basic documents required to establish a company in the Emirates. Documents required to establish a company in the Emirates:

Memorandum of Association and Articles of Association of the Company:

• This contract defines the ownership and management structure of the new company.
• Includes details of partners, capital, and purpose of incorporation.

Proof of identity for partners:

• Copies of passports or Emirates ID cards of partners.
• Proof of residency for non-citizen partners.

Approval of the competent authorities:

• For activities regulated and licensed by specific entities.
• Such as approval from the Ministry of Health for medical companies.

Commercial license:

• Issued by the competent Department of Economic Development.
• Determines the commercial activity of the new company.

commercial register:

• This register is the official registration document of the company.
• Includes company and partner details.

These are the basic documents required to establish a company in the UAE. Exact requirements may vary depending on the type of company and business activity.

The importance of the articles of association and articles of association

The importance of the articles of association and articles of association

When establishing a company in the UAE, the company’s articles of association and articles of association are essential and crucial documents. This main document forms the legal and administrative basis of the new company, and defines the rights and obligations of the partners among themselves. Understanding the importance of this document and ensuring it is prepared correctly is critical to the long-term success and strength of your company. The importance of the company’s articles of association and articles of association:

Legal and administrative organization of the company:

• This contract defines the organizational and administrative structure of the company.
• Defines the roles and responsibilities of each partner or officer.
• Ensures compliance with regulations and laws governing business in the UAE.

Protecting the rights of partners:

• It stipulates the rights and duties of each partner in the company.
• Determines mechanisms for making decisions and resolving conflicts between partners.
• Promotes transparency and fairness in company management.

Flexibility and future development:

• The Memorandum of Association and Articles of Association can be amended when needed.
• Facilitates making the necessary changes to develop the company’s business.

Facilitating dealing with government agencies:

• This document is a basic requirement for completing registration and licensing procedures.
• It facilitates dealing with government agencies and issuing licenses.

Carefully preparing the Memorandum and Articles of Association makes a significant contribution to ensuring the stability and long-term development of the company. This basic document is the cornerstone of building a strong and successful company in the UAE.

Learn about the requirements for establishing a company in the Emirates

In conclusion, establishing a company in the UAE is an important step that requires attention and care to several basic requirements. In this context, “Itqan” company plays a pivotal role in helping entrepreneurs and investors meet these requirements and facilitate establishment procedures.

First, “Itqan” company provides its distinguished consulting services to help clients choose the most appropriate legal structure for their company, in accordance with their goals and the nature of their business. It also provides advice and guidance on the procedures and documents necessary for registration and licensing, including the articles of association and articles of association, to ensure the new company’s compliance with the laws and regulations in force in the country.

Secondly, “Itqan” company helps its clients choose the optimal geographical location to establish the company, whether in free zones or outside them, taking into account all influencing factors such as costs, infrastructure and facilities provided. It also provides support in obtaining the required licenses from the relevant government agencies.

Third, “Itqan” company provides comprehensive services in the field of accounting and financial auditing, ensuring that the new company adheres to the accounting and tax standards in force in the UAE. It also helps in preparing financial statements and submitting the necessary reports to regulatory authorities.

In conclusion, establishing a successful company in the UAE requires cooperation with a specialized company such as “Itqan” to ensure full compliance with local laws and regulations, facilitate administrative and legal procedures, and provide the necessary technical and advisory support throughout the establishment and subsequent work stages. This cooperation will contribute to establishing a strong and sustainable company in the growing business environment in the UAE.

Frequently asked questions about the requirements for establishing a company in the UAE