Establishing a company in the Emirates for foreigners

Establishing a company in the Emirates for foreigners The Emirates is one of the countries that most helps encourage foreign investment. The Emirates is one of the Arab countries that contains many foreigners, so we are keen to learn about the method of establishing a company in the Emirates for foreigners and the costs that a person bears when

 

Establishing a company in the Emirates for foreigners

 

Costs of establishing a company in the UAE

There are many factors that go into determining the cost that a person bears when wanting toestablish a company in the Emiratesfor foreigners, which are:

  • The cost incurred by the investor in order to obtain the license through which he can practice commercial activity in the country.
  • There is also the cost of bringing the headquarters of the company that the investor will establish.
  • The cost of equipping the company’s headquarters so that it is suitable for practicing the company’s commercial activity.
  • Also the cost of opening the account for the company that the person wishes to establish, which depends on the type of activity of the company.
  • Choosing the legal form varies according to the type of company, as the cost of commercial companies is completely different from the cost of an industrial company.
  • The special cost incurred by the investor when obtaining the commercial license for the company he wishes to establish.

Steps to open a company in the Emirates for foreigners

When establishing a company in the Emirates for foreigners, there are many steps that a person must follow in order to be ableto establish a company in its correct legal form:

Determine the company’s type of activity

The step is to choose the activity practiced by the company, as there are many economic activities practiced in the UAE, and there are many activities, whether commercial, industrial, or professional. There are many activities in the country.

Determine the legal form of the company

There are many types of companies from which you must choose the form of your company, which are the public joint-stock company, the joint-stock company, the limited liability company, the civil works company, as well as the private joint-stock company, each of which differs from the other in establishment.

Register the company name

The trade name that was chosen for the company is considered the most important thing that distinguishes the company, but the name that was chosen must be consistent with the trade conditions of the country. The name must also be compatible with public morals and it must express the commercial activity that the company will practice. .

Obtaining approval to open the company initially

After carrying out all the aforementioned steps, approval to establish the company must be obtained from the competent authorities in the Emirates, and then the steps are followed to obtain approval for the activity that was chosen for the company.

Preparing the company’s contract

In order for a company to be established in the Emirates for foreigners in an appropriate legal manner, this is done by preparing all the legal procedures for writing the company contract. After that, the place that was chosen to be the company’s headquarters must be chosen, which must be ready.

Obtaining approval for the company’s activity

In order for any person to be able to practice any commercial activity in the country, he must obtain approval from some authorities in the country regarding the type of activity. The approval of both the Ministry of Economy and the Ministry of Justice must be approved, as well as the approval of the Ministry of Interior and the Ministry of Civil Defense to work in this activity.

Extracting the license

Next comes the stage of obtaining the license to open the company, and in order for it to be successful, many documents must be provided. The fees for establishing the company must also be paid at the Chamber of Commerce.

Conditions for opening a company in the Emirates

There are many conditions that must be met for establishing a company in the Emirates for foreigners, which are summarized in choosing the type of commercial activity and other steps that must be taken to establish the company, but it is necessary to know the commercial activities that foreigners are permitted to practice and which are not permitted in the Emirates.

Activities that foreigners are allowed to practice

  • Foreigners are allowed to establish all types of business management companies as well as companies that work in the field of providing various consultancies.
  • All types of real estate companies, whether owning real estate or renting real estate.
  • Companies that work in the stock market field, as well as those that buy or sell stocks.

Activities that foreigners are not allowed to practice

  • Companies operating in the aviation field, whether in terms of owning an airline or establishing a company to manage the business of airline companies.
  • Foreigners are also not allowed to buy shares in airline companies.
  • Companies that work in the field of media, whether they work in the field of visual or audio media or other media companies.
  • It is also not permitted to speculate on the stock market by owning shares of existing media companies.
  • Companies specialized in oil business and other companies working in the field of gemstones, etc.

Establishing a contracting company in the Emirates

Many investors want toestablish a company in the Emiratesfor foreigners working in the field of contracting, so we are keen to learn about the steps that must be taken to establish a company Contracting:

  • First, you must choose the company’s trade name, which must be in accordance with the trade law in the country.
  • Secondly, submit an application to establish the company to the competent economic authority in the country, whether by electronic submission or by visiting the headquarters.
  • Determine the legal form of the company, which here is choosing the contracting activity and working to determine the nationality of the company’s founders.
  • Work on bringing all documents related to establishing the company, which must be in accordance with the licensing conditions.
  • Preparing the contracting company’s headquarters, which must be appropriate in terms of space and other equipment to the type of activity.
  • Make sure to pay all company fees so that you can obtain the necessary licenses to establish the company.
  • In order for the company to be able to start practicing its activity, it is necessary to go to the Economic Department and submit all documents related to the company.

Steps to open a commercial register in the Emirates for foreigners

There are many steps that must be taken so that the investor canestablish a company in the Emiratesfor foreigners and extract theregistry. Its commercial:

  • The investor must first take all the steps that enable him to obtain the company’s license.
  • After that, the investor goes to the Economic Development Authority in the Emirates to submit the company’s documents.
  • Work to quickly pay the fees allocated by the state to obtain the commercial license for the company you wish to establish.
  • After that, go to the Chamber of Commerce in order for the investor to register as one of its members.
  • The investor must go to the commercial registry headquarters with all the papers related to establishing the company as well as its capital.
  • The foreign investor can then obtain the commercial register of his or her company immediately.

After we learned about the steps for establishing a company in the Emirates for foreigners, the Emirates is one of the countries that works most to encourage investment by foreigners. We also learned about the cheapest commercial license in the Emirates And companies that foreigners are allowed to establish in the Emirates, and foreigners are also not allowed to establish.

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