Company formation in Dubai World Trade Centre was set up to provide a well-regulated business environment that can compete effectively in local and international markets. The free zone is governed by Dubai World Trade Center Authority (DWTCA) and provides incentives for local expatriates to use Dubai as a platform to enter local and regional markets.
Process of Company Formation in the Dubai World Trade Center
Step 1: Determine the type of legal entity to register
The authority allows multiple business entities within its premises such as
- Free Zone Establishment: This type of company can be registered with one individual or corporate shareholder.
- Free Zone Company: This type of company can be registered with 2 or more shareholders. Such a shareholder can be an individual or a company.
- Branch Office of an Existing Company: branch of an existing company that has its parent company operating in any other part of the world.
Step 2: Choose a business activity to undertake in the free zone
Investors should decide the business activity wished to be carried out, as the type of license applied will depend upon the business activity. Dubai world trade center allows multiple business activities some of the options are:
- construction and contracting
- event management
- financial intimidation
- real estate and renting
- Social and personal services
- transport, storage a communication
Step 3: Reserve a tradename or register a trademark in UAE
Before finalizing a name, you need to ensure that your business name is available to be registered in Dubai world trade center free zone. There are also certain standards that the name adheres to the key requirements to approve a trading name are:
- Must not violate the public morals or the public policy in UAE
- Must be followed by the legal form of the company
- It has not been previously registered
- It is compatible with the required type of activity and legal status.
Step 4: Arrange and submit all the requirements
Arrange and submit all the important documents required for the registration process in the Dubai world trade center. Some of the documents are:
- Dubai world trade center application form
- Business plan
- Passport copies of the shareholders, directors, and general managers
- Notarized copies of memorandum and articles of association
Step 5: Apply for a license to operate a business in UAE
After deciding the business activity and registering the tradename at the portal, the next crucial step is to apply for a license. This type of license depends upon the business activity’s licenses provided by this free zone are as follows
- Service license: this allows an entity to carry out specified services on the license within the free zone in UAE.
- Event license: the holder of this license can organize meeting conference and exhibitions
- Trade license: a trade license allows the registered entity to conduct activities related to the import-export and distribution of specified products mentioned in the license
Step 6: Registration and license fees
The registrant is required to pay all the registration and licensing fee to the Dubai World Trade Center Authority. After the payment, the license will be issued.
Costs Involved in setting up business in Dubai world trade
List of the estimated costs involved in setting up business in Dubai world trade center is
- One activity trading license fee
- Two activity trading license fees
- Three activity trading license fees
- Ecommerce license fees
- Professional license fees
- General trading license fees
Below mentioned are some important documents to be submitted for setting up business in the Dubai world trade center
- Proof of trade name reservation
- Proof of approvals from relevant authorities
- Details of shareholders
- Documents regarding the physical address of your business or company is mandatory in UAE
Business Set up Consultants in UAE
If you are looking to start a business in the Dubai world trade center you may seek the guidance of a business consultant. we at FAR Consulting Middle East can assist you with business setup in Dubai. We have the expertise and resources to help you in company formation without worrying about the legal formalities and documentation process. contact us for company formation on Dubai world trade center company