Easy Steps to Set up Your Irish Business in Dubai
Dubai’s rapid economic growth and dynamic business environment make it a prime destination for entrepreneurs from around the world, including Ireland. The government’s proactive stance in attracting international companies, coupled with enticing incentives, presents a golden opportunity for those looking to establish an Irish business in Dubai.
However, navigating the process of setting up a business in Dubai, especially as an Irish entrepreneur, demands careful planning and thorough research. To assist you on this journey, here are the essential steps you need to follow for a successful business venture in Dubai, tailored to meet the requirements of entrepreneurs.
Registration Options
Online Registration: Businesses can opt for online registration through the Basher platform or the Department of Economic Development’s (DED) website, ensuring convenience and efficiency.
Offline Registration: Alternatively, investors can register their companies at government business centres, Tasheel, OnTime, or private business setup firms.
Business Setup Service Providers: Business setup providers, like us, offer valuable assistance, providing essential information and support throughout the process. Since we are mostly Western expats, we have the right experience and team to handle any Irish business in Dubai
Setting up a company in Dubai typically takes between 4 and 10 days offline. Online registration through the Basher service can secure initial approval in just 15 minutes.
Choosing the Location
Mainland Dubai: Establishing a company in mainland Dubai grants access to the local market, although it may require a local partner or sponsor, depending on the business activity.
Free Zones: Dubai boasts over 20 Free Zones, each catering to specific industries. Free Zone company setup generally offers a swifter and more cost-effective registration process. Moreover, they provide advantages such as customs duty exemptions and full profit repatriation.
Selecting the Legal Structure
Limited Liability Company (LLC): A popular choice, offering flexibility in ownership and liability
Public or Private Joint Stock Company (PJSC, PrJSC): Suitable for larger enterprises aiming to go public or attract substantial investment.
Franchise/Branch Office: International companies can establish their Dubai presence through franchising or setting up a branch office.
Free Zone Establishment (FZE): Exclusive to Free Zones, offering complete ownership to a single shareholder
Trade Name and Trademark Registration
Registering a Trading Name: Companies must register their trade name with the Department of Economic Development, adhering to UAE government terms and conditions.
Trademark Registration: To safeguard intellectual property rights, companies need to register trademarks with the Ministry of Economy.
e. Obtaining Initial Approval and MOA/LSA:
Initial Approval: Similar to pre-approval for a loan, it enables investors to proceed with the company formation process.
Memorandum of Association (MOA) or Local Service Agent Agreement (LSA): Depending on the company structure, investors need to draft and notarize the MOA or arrange for an LSA agreement.
Choosing a Physical Location
Tenancy Contract Registration: Register the tenancy contract for office or warehouse space via the Dubai Land Department’s Ejari portal.
Virtual Office Space: Some Free Zones offer virtual offices, providing flexibility for professionals to operate without a physical location.
Obtaining Additional Approvals and Licences
Chamber of Commerce Registration: Certain business activities necessitate registration with the emirate’s chamber of commerce.
Document Submission: After securing initial approval, MOA/LSA, and Ejari registration, investors must submit the requisite documents for final approval, settle necessary fees, and collect the licence.
Seek Expert Guidance
The process of setting up a business in Dubai can be intricate, especially for newcomers or those lacking prior experience. Collaborating with local consultants and legal firms is highly advisable.
Start Business Advisory LLC, located in Dubai, comprises a team of professionals who provide legal counsel and business services for enterprises in Dubai and the UAE. We specialise in aiding Irish businesses aiming to establish a foothold in Dubai. With our extensive expertise and experience, we are fully equipped to lead you through the entire process. From assisting in the selection of the appropriate free zone to organising the requisite documentation, we offer comprehensive guidance every step of the way. Our customised services are crafted to cater to your unique business needs. Also, it ensures a smooth and stress-free experience when relocating your company to Dubai.
Get in touch with our team today at info@dubaistartbusiness.com to access support for your business setup prerequisites.