Free Zones
Offers more flexibility and cost effectiveness due to their specific regulations and legal frameworks and are dedicated to specific business sectors. This is generally the best choice for trading as it allows you to import goods and trade easily with other companies in the UAE and globally.
Mainland
Gives you the freedom to operate throughout UAE and are also suitable for retail and service businesses seeking a central location. This provides more flexibility in terms of company and business activities, but it also entails several formalities, including approvals from various governmental entities and compliance with the local trade license regulations.
2. Apply for Initial Approval
Required if you are looking to conduct business activities on the mainland. This will involve submitting a completed application form along with supporting documents to your preferred Department of Economy and Tourism (DET) office. The documents that you will be required to submit for the issuance of initial approval should be as follows:
- Completed application form: This form can be obtained from the Department of Economic Development (DED) or downloaded from their official website.
- Copy of your passport: This should be a valid passport with at least six months validity.
- Copy of your UAE visa: This should be a valid UAE residence visa.
- Business plan: This should include details about your business activities, target market, financial projections, and management team.
- Bank reference letter: This should be from a bank that you have an account with. The letter should confirm your financial standing and ability to fund your business.
- Lease agreement or title deed: This should be for the premises where you will be conducting your business.
- NOC (No Objection Certificate) from your sponsor (if applicable): If you are employed in the UAE, you will need to obtain a NOC from your employer before you can start your own business.
3. Register your Trade Name
Register your trade name with the Department of Economic Development (DED). This involves choosing a unique and appropriate trade name, submitting a trade name application form, and paying the required fee.
4. Obtain Business License
Once your trade name is registered and initial approval is obtained (if applicable), you can apply for a business license. This will involve submitting the following documents to the relevant government department:
- Completed business license application form
- Copy of your passport
- Copy of your UAE visa
- Copy of your trade name registration certificate
- Lease agreement or title deed
- NOC from your sponsor (if applicable)
- Business plan
- Bank reference letter
- Any other required documents
5. Open a Corporate Bank Account
Open a corporate bank account in the UAE under the name of your company using your business license.
6. Obtain Business Visa (if applicable)
If you are not already a UAE resident, you will need to apply for a business visa. This will involve submitting your business license and other required documents to the relevant immigration authority.
7. Fulfill Ongoing Obligations
Comply with ongoing business obligations, such as filing annual financial statements and paying taxes.