Company Setup In Dubai International Academic City
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How To Setup Business In International Academic City World Dubai?
The largest emirate in United Arab Emirates has long been considered as the centre of attraction for the region with its many attractions and perks. With the latest business development in the business city world, Dubai is reaping the benefits by being the first city to gain from the growing global business scenario. The academic city has quickly become a top most destination both for domestic as well as international tourists. This has resulted in an immense growth in the population as well as the number of people opting for jobs in the city. It will be best recommendation If you are planning for Company Setup in Dubai International Academic City.
As a result, In International Academic City, Dubai there has been a marked improvement in infrastructure, healthcare facilities and educational aspects. The number of job opportunities has also shot up as more companies look to set up base in Dubai International Academic City. The benefits are not limited to the aforementioned factors, but a major reason for the success of the city has been the benefits in terms of business setup and company formation. It is no secret that the city has one of the most efficient work environments, excellent healthcare services and educational aspects. In fact, all these factors combine to make it a perfect place for investors and entrepreneurs to set up their venture.
There are many reasons that have helped Dubai International Academic City to achieve the success it has enjoyed in business formation. The most notable benefit for the Dubai International Academic City as a whole is the ease at which the business owners can set up their businesses and establish their own firms. All that is required is to ensure that all legal formalities are complied with and that all the requisite licenses are obtained before company formation process. Given the benefits offered by the Company formation in academic world in Dubai, it is little wonder that so many people prefer to establish their companies in this city over others.
In terms of company formation in Dubai International Academic World City, it is quite easy to obtain the necessary permits. The only important requirement is that the company should be registered with the Emirates Ministry of Economic Development and Trade. Companies that aim to set up a research center in Dubai International Academic City can also obtain the necessary permissions from the government in order to set up an office there.
In addition to that, a business in International Academic World City Dubai has all the major benefits that attract scholars from all over the world to set up their ventures in the city. The business environment in International Academic City, Dubai is highly competitive and hence there are no chances of losing out on business opportunities. It is for this reason that academics can expect a very good business career in International Academic City Dubai.
Dubai International Academic City Company Registration Process:
- Submit application for approval for business setup in International academic city, Dubai
- Send the required legal documents for the registration of company.
- Sign the documents and return the Customer Confirmation Letter and the payments.
- Sign the required Articles & Memorandum of Association
- Send the required legal documents for the registration of company.
- Maintain the deposit of share and capital.
- Sign all the lease and personnel sponsorship agreements.
Top 3 categories of licenses issued in Dubai to register a company
Depending on the nature of the activity a business entity plans to undertake, license in one of these categories will be issued:
1. Commercial License – is issued to a company who will engage in any kind of trading activity.
2. Industrial License – is issued to a company who will engage in manufacturing or any industrial activity.
3. Professional License – is issued to service providers, professionals, artisans, and craftsmen.
The Dubai Economic Department for Business Development in Dubai is the government agency who is responsible for issuing Dubai company/Business licenses. This department operates from several locations to deliver licensing services in Duabi, UAE.
- The very first step in the process of incorporating a company in Dubai is getting an effective legal name for the business entity. One can choose any name for the company including the name of the company, its address, the name of its director and the management team, and many more. The legal name of the company must comply with the laws of the country where it is incorporated. An expert firm will help you choose the name of the company accordingly. Another factor that you need to take care of is that the name of the company should not be confusing.
- Once you have selected the name of the company, you have to get the ownership of the business. If you are not aware of how do I start an LLC in Dubai, this aspect is the responsibility of the firm that you have chosen to do the task for you. As far as the ownership of the business is concerned, you need to get in touch with an experienced business lawyer who will help you carry out the procedure legally. Once you are done with the process of incorporating the company in Dubai, you need to register it at the Companies Registry. You will have to provide all the details about the nature of the business, the owners and the type of trade that you undertake. All these details are mandatory and you need to submit them along with the application form in the database maintained by the Registry.
- After getting the registration of the company, you need to register the company. This process can be done online or by visiting the Companies Registry office in the city. You need to pay a nominal fee for the registration and you need to provide the latest contact information of the directors to the registry authorities. If you are still wondering how do I start an LLC in Dubai? then you need to know that all this entire process can be completed within three months from the time of filing the first set of forms.
- Now, you need to decide about the capitalization of the business. This decision depends on your requirements and the profit margins that you can get from the business. For instance, if you are running a small retail business, then you can start a limited liability company with a capital of only a few thousand dollars. However, if you are planning to set up a manufacturing business, then you need to have a business plan that will include figures regarding the investments, profits, losses, etc. That is the reason why it is necessary to have a well-written business plan before starting the business.
- The next step in the process of how do I start an LLC in Dubai is to find a name for your company. It is not mandatory to choose the name of the company when you apply for its registration. But, if you are going to establish a limited liability company, then you have to use the name of your company or brand. Again, you have to select a trademark that will be able to represent your company and its products. For instance, if you are dealing in the manufacturing of sports equipment, then you can choose the name of the brand or you can even purchase a trademark from the trademark department of the United States Patent and Trademark Office.
- After you have chosen the name of your company and trademark, you need to register the name. This is done by filing the appropriate paperwork with the concerned office. However, you must remember that even if your company name is already registered, it does not mean that the name cannot be changed anytime in the future. Therefore, you have to keep this factor in mind. Even if you have registered your company’s name, you should still check on it once in a while so that you can make the necessary changes as and when necessary.
- One important point that you have to consider when you want to set up an LLC in Dubai is the formation procedure. You will have to complete the set of procedures and formalities required to get a legal registered company up and running. In addition, you will also have to abide by certain laws, regulations and rules in order to become functional as a business unit. In order to deal with these requirements, it would be better if you seek help from a company that specializes in establishing a limited liability company in Dubai. You can discuss the details of the company’s formation with this company and you can also take a look at the services that they are offering to get the ball rolling.
Academic scholars can exploit their skills and knowledge by joining the various business schools that are sprouting up in International Academic City, Dubai. These business schools offer a wide range of business-related programs to suit all kinds of interests of students. One of the most important aspects, which is beneficial for students is the mentorship offered by successful business men. There are several business schools in International Academic City, Dubai, where the students can get appropriate training in order to groom themselves into future business leaders.
One can also exploit the opportunity provided by Dubai’s booming internet technology industry. Students can find their career ambitions increasing when they take part in online business programs. This is because the demands for computer software specialists are constantly rising and the internet will be the biggest platform for them to showcase their talents. Dubai’s International Academic City rise as an international financial centre has further added to the importance of business setup in the academic world and students can expect a fulfilling career in this field.
