How to Set Up A Business in Dubai Techno Park ?
What contributes most to the success of a business enterprise? Sound business plan and strong investment would be the typical answer to this question. However, when it comes to business setup in Dubai, choosing the right location is also a critical factor that decides the success of your company.
For instance, your business strategy may fail if your preferred location in Dubai doesn’t offer the facilities that match your business activity. An investor seeking to establish a manufacturing company should consider Dubai Techno Park, aka National Industries Park as a top priority due to its focus on industrial activities. Dubai Techno Park provides the investors with a mainland company license with which they can trade anywhere in the UAE.
The next step obviously is about following the mandatory procedures of company formation in Dubai Techno Park. Foreign investors can hire the best business setup consultants in Dubai to quickly complete the procedures. In the meantime, we will provide you with a quick guide on how to set up a company in Dubai Techno Park. Read ahead
Types of Licenses in Dubai Techno Park
Obtaining the trade license that perfectly aligns with your proposed business activity is key to successfully establish a company in Dubai. You need to meticulously choose the license depending on the activity and costs for which the guidance of business consultants in Dubai will come in handy. Dubai Techno Park mainly issues the following types of licenses for investors:
Getting hold of an industrial license in Dubai Techno Park allows you to carry out manufacturing and assembling of goods specified in the trade license.
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Dubai Techno Park issues a Trading License for investors who plan to carry out import, export, distribution and storage of specific products.
You can carry out specified services by obtaining a Professional License from Dubai Techno Park.
Types of Companies You Can Register
Depending on the number of shareholders, the following legal structures can be selected for business setup in Dubai Techno Park,
1.Limited Liability Company
Investors can set up a limited liability company(LLC) in Dubai Techno Park. The number of shareholders allowed in the LLC range from two to fifty. A local sponsor UAE national) should hold at least 51% shares in the company.
A sole establishment is owned by a single proprietor who is responsible for the profit and liabilities of the company. Unlike the LLCs, the liability of the company would be unlimited in a sole establishment. However, the owner should be a GCC national.
Qualified professionals in specified sectors are allowed to undertake civil company formation in Dubai Techno Park. Just like a sole establishment, a civil company entails unlimited liability.
Apart from these business structures, investors can incorporate the following types of companies in Dubai Techno Park,
- A Branch of a Free Zone Establishment (FZE)
- A Branch of a Free Zone Company (FZCO)
- A Branch of an LLC (covers all Limited Liability Companies in the UAE)
- A Branch of a GCC Company
- A Branch of a Foreign Company
Eight Easy Steps for Business Setup in Dubai Techno Park
The procedure to set up a business in Dubai Techno Park is straightforward. The steps you need to follow to lead a company formation in Dubai Techno Park are mentioned below.
- Choose a business activity
- Register a company name
- Receive initial approval
- Submit the registration fee
- Obtain trade license as per the business activity
- Set up an office space
- Open a corporate bank account
- Officially start your business
Consult with the Best Business Setup Consultants in Dubai
Investors planning to set up a new business in Dubai Techno Park must know about the regulations laid out by Economic Zones World (EZW) that controls and maintains the Park. If you are foreign investor, complying with the UAE immigration and labour laws will be a tough task. Since you can’t afford any delays in the process, it is better to consult with the best business setup consultants in Dubai, such as Jitendra Business Consultants (JBC).
JBC takes a personalised approach in helping you meet the requirements of government authorities regarding company formation in Dubai Techno Park. We have a team of highly qualified business setup advisers who are well-versed in the UAE laws. We take efforts to understand your requirements and provide you with tailor-made solutions for business setup in Dubai. By enlisting our business setup services in Dubai, achieving business success becomes less arduous for you.