Tag: company establishment

ESTABLISHING COMPANY IN DUBAI

ESTABLISHING A COMPANY IN DUBAI: DO YOU NEED A LAWYER?

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Planning To Start A Company In Dubai?  How Dubai Business Lawyers Can Help

Dubai, being once known as a desert city and now a city of endless possibilities, is undeniably, extravagant and promising.  Its emergence as a commercial hub over the last 15 years has been way too rapid that it is now among the easiest and fastest to set up a business globally.

Launching a business in the region, whether branching off an existing company as part of a geographic expansion strategy or starting out a completely new different enterprise can be as fast as a flash.

In a week or so, you will be able to get your business ready with just a few ‘must-do’ and ‘must-considered’ steps.

First, you must identify the correct type of your venture. This will determine the category of your business license, which will be reflected in the trading name.

Second, the activity your business covers also defines your business structure and type of license.

Third, most of the Expats who are having a 100% ownership of the company, establish their business in a Free zone Authority where minimum official procedure and duration is needed; hence the process is comparatively straightforward.

Setting up a business in Mainland Dubai, on the other hand, requires a trade license from the Dubai Economic Department. This license requires you to have a partnership with a UAE national, who has to compulsory hold at least 51% of the total equity of the company.

Lastly, you must consult with a legal counsel in Dubai UAE to have all your legal documents (Memorandum of Association) assessed. When organizing a business, nothing is as vital as priming your paperwork as this will determine whether your company will operate in terms of profit or loss.

From business opportunities to enterprises in all sizes clearly manifest the rise of Dubai, from a desert city to a city of endless possibilities.

 

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How to start a Law Firm in Dubai

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There are four basic procedures which must be followed for a person to start a law firm in Dubai,

a- Local Lawyer
To start operating in Dubai the very first thing anyone would need is to collaborate with a local lawyer having a law license which has to be valid in first instance court at least.

b- Acquire License
The person needs to acquire an establishment license from the Ministry of Justice to open a law firm from where he will get papers and card

c- License Submission
Documents which you receive from the Ministry of Justice as part of the license which later you will have to submit to the economics department.

d- Location
The ideal location would not be in JAFZA or Freezone because it is cheap and the area must be at least 40ft for the law firm to begin its operations

Things you need to know:

e- Professional Ethics
Lawyers must refrain from committing any criminal or deviant acts. There is a set of principles which have to be adhered to.

f- Charge Reasonable Amount
Whatever the case is and no matter how big the law firm is, the chargeable price for a disputed case should always be reasonable.

g- Dual Courts System
There are federal and local courts which are the dual courts in Dubai with Supreme Court based in Abu Dhabi covering different parts of the law. There are three stages to the Dubai court system, court of first instance, court of appeal and court of cassation.

h- UAE Laws Source
UAE law is mainly based on Sharia and International law. It is a civil law jurisdiction with reliance on French, Roman and Egyptian laws.

i- Rules of Law
As per rules & regulations the lawyers and advocates have to register with Ministry of Justice to practice in federal courts or other emirati courts.

j- Compliance to License & Regulations
For Legal Consultants in Dubai to provide legal services outside the court, lawyers & law firms need to get licensed with registration documents from Department of Legal Affairs.

The law firm based in DIFC has to obtain a commercial license from the authority and register itself with Dubai Financial Services Authority. Department of Economic Development has also major role to play as the formalities are to be fulfilled by the law firm.

Only local lawyers can attend court whereas foreign lawyers can practice law. For litigation and federal supreme courts only registered lawyers can attend and appear.

For practicing law in the country lawyers need an individual office in each emirate of UAE whereas main Dubai has freedom of the Rulers court.

k- Arab Gulf Cooperation Council
As a member lawyer of Arab Gulf Cooperation Council countries, you may obtain license to practice in Dubai & UAE courts. Expat Arab lawyers could practice in federal courts before but it is restricted to only Emirati nationals only.

l- License
There was a law passed in 2011, making compulsory for lawyers to get a license (requires a law degree) to offer their services legally adhering to the strict standards set by the government.

 

 

building in dubai

Establishing a Company in Dubai

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Establishing a Company in Dubai | Setting up a company in Dubai UAE

The growth of Dubai over the last 15 years as an economic hub has been prolific.  Whether wishing to establish a branch of an existing business to utilize the strategic geographical location or looking to start a new venture in the region, setting up a company here in the UAE can take as little as one working week with assistance from our corporate lawyers in Dubai.

To simplify the process, there are a number of steps to be considered and prepared for to make it as smooth as possible.

  • The business type and activity will determine which category of business license will be required and should be reflected in the trading name selected.
  • The structure and type of license may also be determined by the business activity your business will cover. Some businesses, Law for example cannot be licensed as a sole proprietor.
  • As an expat, if you wish to have 100% ownership of the company, it will need to be formed in one of the Free-zone authorities which will in turn have restrictions on where and who you can conduct business with.
  • To establish a license and carry out business in mainland Dubai, you will need to apply for a trade license from the Dubai Economic Department. This license will require you to have a local partner or sponsor who, by law, must hold a minimum of 51% ownership of the company.
  • The particulars of how the company will operate in terms of profit and loss will be determined in the legal documentation (Memorandum of Association). Speak to your legal advisor to ensure your documentation adequately protects your interest in the business.

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