Starting a business on the mainland has been an excellent move for many well-known UK entrepreneurs. In fact, over 5,000 UK businesses, including Rolls Royce, McDonald’s, Standard Chartered, and HSBC, are present in the UAE.
For UK business owners, the UAE’s stable law and order situation, entrepreneurial reputation, and good trade regime are significant draws. Being a blend where all cultures, nationalities, and faiths can live harmoniously also helps.
So, if you want to set up a business in the UAE mainland, read on. This blog provides you with a guide to starting a business on the mainland in the UAE.
What Are the Benefits of Starting a Business on the Mainland?
Numerous advantages await UK entrepreneurs in the UAE. Some of the key benefits are as follows:
- Simple and digitised business establishment procedure
- Supportive government
- 100% business ownership
- Beneficial visa reforms, such as golden visas
- Skilled and diverse talent pool
- Ability to conduct business throughout the country and beyond
- Strategic location
- High-quality standard of living
- Multicultural environment
- Zero income tax
What Are the Documents Required for Starting a Business on the Mainland?
Establishing a business on the mainland is sped up and made simpler with the proper paperwork. Therefore, make sure you have all the necessary paperwork. Refer to the following list of documents commonly needed:
- Copies of passports and visas
- Two passport-size photographs
- Entry visa and stamp pages
Based on your company’s structure and activities, our professionals can help you with the complete list of documents needed.
How to Start a Business on the Mainland?
The UAE mainland business setup process is easy to follow. Find below a brief account of what goes into each step:
1. Choose a Business Activity
Selecting one or more commercial activities is the first step in launching a mainland business. Do you have a particular area of expertise or interest? Or do you already run a company in your country that you want to grow? There are more than 2000 commercial operations permitted on the mainland.
Start by defining your target market and determining whether you can provide that market with a better product or service. Next, determine whether your idea is heading upward or is viable over the long run. Subsequently, pick the business activity.
2. Register a Name
After coming up with a business activity, give a name to your business. The name should be unique, catchy, and simple to pronounce. Moreover, it must be available for a username and a domain if your company needs a website. Also, make sure the name you want is available to register. Taking this into account, choose a name, and then register it with the relevant authorities.
Note: The UAE government has set standards for business names. You can get assistance from our business setup specialists with the rules and name availability to ensure your company’s name is appropriate.
3. Select a Company Structure
It’s necessary to ascertain which laws and guidelines apply to your business. It is where a legal structure comes into play. The operating requirements of a company are a vital determinant of its structure. Besides, to find the optimal legal system, you might need further research.
Choose a business structure for your company in that light. A Limited Liability Company (LLC), a Sole Proprietorship, or a foreign company’s branch office could be the legal structure in the UAE mainland.
4. Get Initial Approvals
An initial approval means that the company’s establishment on the mainland is not a problem for the UAE government. However, it does not grant you permission to run or participate in any business activity. More precisely, it aids in signing a lease agreement for a business site.
Before submitting for the initial approval, some activities need extra approvals from relevant governmental bodies. These include pursuits associated with law, security, financial securities, and commodities.
5. Apply for the License
Almost every business must have some license and perhaps other permits to operate lawfully, albeit the specifications vary. Which permissions you require will depend on the nature of your business.
So, to apply for a business license, provide the necessary documentation and make the required payment. Your license must be renewed every year as well. Moreover, it would be best if you had additional permits for commercial activities such as driving schools, car rental services, architectural and engineering affairs, health-related activities, gas and oil-field services, and so on.
There are a variety of punishments for breaking these rules, including fines, late fees, penalties, and suspension of operations. Our advisors can help you apply for the license and permission required for the operation of your company.
6. Select a Business Facility
Any business in the UAE needs a physical location to operate. Depending on your operational needs, the business area might be a store, shop, warehouse, or office. But there are a few common aspects to consider.
For instance, if you want customers to enter your store, make sure it is simple to find. Moreover, you can consider how the surrounding businesses can improve the workplace environment at your company. Besides this, think of ordinances, infrastructure, utilities, accessibility, parking, competition, and most importantly, rent and other costs.
7. Get Your Trade License
Once all the steps are accomplished, you can obtain your trade license. Now, your mainland business setup can operate in the UAE. You’ll be well on your way to creating the business you’ve always envisioned if you keep doing market research, selecting quality personnel, and producing top-notch goods.
What Is the Cost of Starting a Business on the Mainland?
License and additional permit procurement process, office rent or lease, fees, marketing campaigns, employing staff, and many more aspects determine the cost of starting a company on the UAE mainland. Therefore, it is hard to come up with an exact figure.
To give you a general estimate, the price of incorporating a business might be around AED 23,000. Our trained consultants can provide you with a precise calculation, ensuring that you stay below your spending limit.
Start Your Business on the Mainland With Shuraa
The knowledgeable and experienced experts at Shuraa UK Branch will streamline the entire process of setting up a business on the mainland.
Our services cover each aspect of the business setup journey, from registering your company name and framing a Memorandum of Association to finding you a business location and checking your visa eligibility. We can also offer specialised business setup options if your business has particular needs. Kickstart your mainland company with us right away!