How to set up a trading company in Dubai?

The setting up of a trading company in Dubai is very safe foreign investors willing to invest in a country like Dubai as it has great opportunities as there are many jurisdictions favouring and benefitting them.  Businesses in Dubai have scope of growth and competition. The process of setting up a trading company in Dubai is not difficult. There are certain things you need to know and steps you need to take for setting up the company. This is the list of things that you need to know before you start.

5 Steps to Start a Trading Company in Dubai

1. Plan your business

Plan what business you want, the area and space you want to opt for some authorities can ask you for the business plan. You must have Information on these certain things; Products, employees, office space, investments, suppliers etc.

This is a best way to start bringing your dream to realty.

2. Consult with a company registration agent

There are over 2,000+ activity licenses and 28+ jurisdictions available. So you need to consult with an agent to understand everything.

There will be a specific jurisdiction for your company, which you need to figure out and understand.

A company registration agent will help you with clearing your path through these options and support you until you are satisfied. The company’s registration work will also be done by them.

Starting your own trading company might be difficult due to the rules and requirements necessary in opening up a business in the Emirate without any local support.

3. Select the activity and the jurisdiction

The Trading license allows you to trade in specific services. There is a General Trading license, which is more expensive but allows you to trade in many products.

The license can also be a Free Zone company. In a free zone company you can own 100% of the company or a Local person can be your partner, the partnership will make the person the owner of 51% of the company.

4. Find a Sponsor if you are registering locally

There are 3 types of Sponsors

1. You can get sponsorship through professional companies. They will charge the lowest fees.
2. The second type is Middle-level government functionaries; they have connections that will help you when you are stuck. The fees will be comparatively higher, but they may help you even after the company’s establishment.
3. This type of sponsors is high-level name brands and they are connected at senior levels. Their fees will be higher than both the other sponsors. They have a powerful position in the market so it will be easier for you.
4. Get itemized costs for your company setup

The registration firms will help you with the itemized costs for your company incorporation and be licensing and the Visas cost extra.

It takes 45-60 business days to get the company’s registration done. For these certain days you will spend submitting know your client (KYC) documents and then later you will have to sign the jurisdiction papers.

The process can speed up, if you are available there for a time period.

These are the certain things one must keep in mind during the whole process. These tips will help you to understand the importance of the jurisdiction and also help with the registration procedure.

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