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Procedure to set up or start a business in Abu Dhabi?
1. Identifying the business type
As a prospective business owner, you should be informed of the type of business activity you intend to engage in. Before finalizing a corporate transaction, it is critical to consider local drivers such as the economy, culture, and resources.
- There are six different sorts of licenses. Industrial, commercial, professional, tourism, agricultural, and occupational are some of them.
2. Select the Legal firm
The legal form is mostly determined by the needs of the firm. Furthermore, the legal form serves as the foundation for identifying applicable laws and regulations.
3. Register the trade name
A trade name differentiates one company from another. It also represents the nature and structure of the company. An investor can apply for a trading name through each emirate’s economic department, using its website or mobile application.
4. Initial approval
An initial approval signifies that the UAE government has no objections to the company establishing itself in the country. It also permits the investor to move forward with the following steps in establishing a firm. However, it does not confer the power to run our practice commercial activity.
5. Select the business location
To operate, all firms in the UAE must have a physical address. The business premises and location must meet the requirements set forth by the Department of Economic Development of each emirate, as well as the land planning legislation of the local municipalities.
6. Collect the business license
After completing the preceding stages, investors can obtain a business license at the economic departments’ service centers or through their websites.
Where to register?
- You can register here.
What type of business you can register?
- General partnership
- Limited partnership
- Limited liability company (LLC)
- Public joint-stock company (PJSC)
- Private joint-stock company (PrJSC)
- Civil company
- Local company branch
- GCC company branch
- Foreign company branch
- Free zone company branch
- Sole establishment
- Holding companies.
Sole traders
- An establishment, also known as a sole proprietorship, is a business held by one person who has a trade license issued in his or her own name.
- The owner takes the entity’s whole financial responsibility, including all financial liabilities.
Limited companies
- Limited liability means that if you invest in a business and suffer a loss, owing substantial sums to creditors, you are only accountable to the extent of the capital invested in the company. Your personal belongings are not at risk.
Partnership
This sort of corporate entity is owned by two or more partners who split profits and losses according to a predetermined ratio. Partners are solely liable for the debts of the partnership up to the amount of their capital contribution. Furthermore, the limited partner cannot be a member of the management team or have his name appear in the partnership’s name.
