Here are some top questions and answers related to starting-up a business that we contributed in Gulf News article published on May 9, 2018.
- I want to launch a company in the UAE. What types of licenses available?
Answer: Based on business activities licenses are categorized into three categories: Commercial License, Professional License and Industrial License. For instance, trading, import/export activities come under Commercial License, hile professional services such as IT consultancy come under Professional License and manufacturing activities fall under Industrial License.
- What businesses can I pursue in Dubai?
Answer: You can find the list of on the website of the Department of Economic Development (DED). Almost every kind of business activity that an entrepreneur can start in Dubai is included in DED’s business activities list. If you can not find your specific activity, look for similar business activities that may cover your area of operation or consult a legal expert or DED’s legal department for advice.
- What are my options if I want full control?
Answer: If you are an expatriate and want to setup your business with full ownership, then you have following options:
Setup a branch of a foreign company
Setup a professional company company
Setup a company in one of the Free Zones
Author: Mirazizbek Makhamatzhanov