Establishing a company in Dubai can be a distinctive strategic step for ambitious investors and businessmen, but the challenge can be in achieving this goal at the lowest possible costs. Dubai, with its advanced business environment and world-class infrastructure, offers great opportunities for growth and innovation, but managing costs effectively is an essential part of success. In this article, we will review the steps to establish a company in Dubai at the lowest possible costs, starting with choosing the appropriate type of companies and free zones, all the way to strategies for reducing operational expenses and legal fees. We will discuss practical tips that help reduce costs without affecting the quality of services and compliance with legal requirements, which contributes to making the most of the opportunities that Dubai offers.

Steps to establish a company in Dubai at the lowest costs

Steps to establish a company in Dubai 

Establishing a company in Dubai requires following a set of structured steps to ensure compliance with local laws and achieve your business goals effectively. Here are the steps to establish a company in Dubai:

1. Determine the type of business: Choose the type of business you want to operate, as this affects the type of license and registration requirements.
2. Choosing a company legal structure: Determine the appropriate legal structure for your company, such as a limited liability company (LLC), a branch company, or a company in a free zone.
3. Choosing a company name: Choose a business name that complies with local laws and does not conflict with other business names. Make sure the name is available and not in use.
4. Obtaining initial approval: Submit a request to obtain initial approval from the Department of Economic Development (DED) or the competent authority in the free zone in which you wish to register the company.
5. Preparing the articles of incorporation and legal documents: Prepare the articles of association that include details about the company structure, members, and capital. It may require attestation from a notary public or legal authorities.
6. Office Rental: Rent an office or company headquarters, where you have a physical address in Dubai. Space and location requirements may vary depending on license type.
7. Submit the required documents: Submit the required documents, including the articles of incorporation, passports, and initial approval, to the Department of Economic Development or the competent authority.
8. Receiving the commercial license: After reviewing and auditing the documents, the Department of Economic Development or the relevant authority will issue the commercial license. Make sure to pay the prescribed fees.
9. Company registration in other entities: Register your company with the Dubai Chamber of Commerce or other entities depending on the type of activity and its requirements.
10. Open a bank account: Open a business bank account in the company’s name to manage money and finance business operations.
11. Obtaining work and residency visas: If you intend to employ employees, you will need to obtain work visas for them and register them with the relevant authorities.
12. Compliance with local laws: Make sure you comply with all relevant local laws and regulations, including VAT registration if your business requires it.

By following these steps, you can establish your company in Dubai in an organized and efficient manner, and take advantage of the business opportunities available in one of the most vibrant markets in the world.

Costs of establishing a company in Dubai 

The costs of setting up a company in Dubai can vary greatly based on several factors, including company type, location, and business activities. Here is an overview of the main costs you may face when setting up a company in Dubai:

1. License fees: Fees for obtaining a commercial license from the Department of Economic Development (DED) or the relevant authority in the free zone. These fees depend on the type of activity and the type of license required.
2. Office Rent: The cost of renting an office or work space. Prices vary depending on location, office size, and the region you choose (free zone or outside).
3. Articles of Association costs: Fees for preparing and documenting the Articles of Association. You may need to pay a fee to a notary or legal consulting firms to provide assistance.
4. Chamber of Commerce registration fees: Fees for registering the company with the Dubai Chamber of Commerce or similar entities, if required.
5. Special License Fees: Additional licenses may be required depending on the type of activity, such as health, food, or construction licenses.
6. Bank account opening costs: Fees for opening a business bank account, which may include a minimum capital requirement.
7. Visa costs: Fees for work and residency visas for employees and investors. This fee includes the cost of the permit and renewal.
8. Legal and accounting consulting: Costs of legal and accounting consulting that you may need to prepare documents and provide legal advice.
9. Corporate costs for services: Costs for the services of specialized companies that provide assistance with incorporation, such as consulting firms or notary services.
10. Insurance: The cost of insuring a company, such as general liability or property insurance.

In general, the total costs of setting up a company in Dubai may range from several thousand to tens of thousands of dollars, depending on the type of activity, company size, and location. It is best to get advice from a company that specializes in company formation in Dubai to get an accurate estimate of costs based on your specific needs.

Itqan services in establishing a company in Dubai 

Itqan Company offers a range of comprehensive services to facilitate the process of establishing companies in Dubai, which helps companies and investors obtain a commercial license and comply with local laws easily. “Itqan” services in establishing companies in Dubai include the following:

• Providing advice on choosing the appropriate business type and company structure, whether it is a limited liability company (LLC), a branch company, or a company in a free zone.
• Assistance in obtaining the appropriate commercial license from the Department of Economic Development (DED) or the relevant authorities in the free zones, including submitting applications and preparing the necessary documents.
• Preparing and documenting the articles of incorporation and other legal documents, including certifying the documents from a notary public or competent legal authorities.
• Handling the company registration process with the Dubai Chamber of Commerce or similar entities to ensure compliance with all legal requirements.
• Providing advice on tax requirements, including registration for value added tax (VAT) if required.
• Assistance in opening a commercial bank account for the company, including dealing with banks and providing the required documents.
• Handling procedures for obtaining work and residency visas for employees and investors, including application and renewal.
• Assistance in finding a suitable office or workspace according to the company’s needs, including negotiating leases.
• Providing legal advice on compliance with local laws and regulations and ensuring compliance with legal requirements.
• Providing administrative support services such as document management, dealing with local authorities, and making amendments to the commercial register if necessary.
  Itqan’s services help companies and investors simplify the incorporation process and ensure compliance with all legal and administrative requirements in Dubai, allowing them to focus on growth and expansion in a dynamic business market.

At the conclusion of our article about establishing a company in Dubai , it becomes clear that this step is considered a promising investment opportunity in one of the most dynamic and developed markets in the world. Dubai, with its advanced infrastructure, favorable business environment, and strategic location, provides investors and businessmen with an ideal platform to achieve success and growth. By carefully understanding the necessary steps and submitting the required documents, you can facilitate the incorporation process and ensure compliance with all local laws and regulations.

Establishing a company in Dubai is not just an administrative process, but rather a strategic investment that requires proper planning and careful research. By using the right services and consulting specialized experts, you can make the most of the opportunities available and minimize the potential risks. By overcoming challenges and achieving business aspirations, your company can contribute to enhancing economic growth and benefiting from the unique advantages of the UAE market. Entering the Dubai market provides broad possibilities for growth and expansion, and makes achieving business goals a tangible reality. With good planning and adherence to legal procedures, your company’s founding journey can be a successful step towards a bright future.