01 Apr Opening a commercial register in Dubai for Saudis
How to open a commercial register in Dubai for Saudis? Dubai is one of the most prominent global cities that attracts entrepreneurs and investors from all over the world thanks to its advanced and stimulating commercial environment. For Saudis, Dubai represents an ideal investment destination due to the many opportunities available and the advantages it offers. Opening a commercial register in Dubai is an important strategic step for Saudis seeking to expand their business or establish new projects in this dynamic market. Through this article, we will take a look at how to open a commercial registry in Dubai for Saudis, including the basic steps required, the legal and administrative requirements, in addition to the advantages and benefits that can result from this strategic step. We will also review some practical tips that may help Saudis wishing to explore business opportunities in Dubai achieve sustainable and effective success.
Establishing companies in Dubai for Saudis
Establishing companies in Dubai represents an exciting challenge for ambitious Saudis looking for new business opportunities outside the Kingdom’s borders. With the help of Itqan, they have access to the expertise and knowledge necessary to overcome the legal and regulatory challenges they may face in the incorporation process. Itqan provides integrated services that include company establishment consultations, legal transaction management, and official registration of companies with local authorities. In addition, Itqan helps in choosing the appropriate legal form for the company, securing the necessary approvals and licenses, and managing financial and tax affairs efficiently. Thanks to its extensive experience and local network, Itqan represents a reliable partner that makes it easier for Saudis to realize their dreams of building and growing their companies in the leading business environment of Dubai.
Itqan is not just an ordinary consulting company, but rather a real partner that provides the necessary support to Saudis on every step of the journey of establishing their company in Dubai. Thanks to its specialized and multilingual team, Etqan enables effective communication and accurate understanding of customer requirements, which helps them make the right and informed decisions. Itqan also provides various services, including providing market information and economic studies, to help Saudis choose promising sectors and commercial activities suitable for their investments. Thanks to these integrated efforts, the Saudis can rely on Itqan as a strategic partner that supports them in achieving their successes in the dynamic business market in Dubai and the UAE in general.
Types of companies in Dubai
Here is the following table that shows the types of companies available in Dubai:
Legal type | the description | Basic conditions |
---|---|---|
Sole proprietorship | Owned by one person with full personal responsibility. | The owner must be an Emirati or Gulf citizen. |
Partnership company | Owned by partners (2-20 partners) with limited or unlimited liability. | Owners can be individuals or companies. |
A limited liability company | It has a legal personality independent of its shareholders, with limited liability to the extent of its contributed capital. | Requires at least 2-50 shareholders. |
Public joint stock company | It can be a public or private company, with shareholders liable for debts in proportion to their stake in the company. | There must be at least 10 shareholders. |
Private joint stock company | It shall be an independent legal entity and the shareholders’ liability shall be limited to the extent of its contributed capital. | Shareholders can be individuals or companies. |
Branch of a foreign company | It represents a branch of a foreign company wishing to expand its activity in Dubai, and is subject to local legislation. | Registration certificates and licenses from the country of origin must be presented. |
These main types of companies allow investors in Dubai to choose the legal structure that best suits their business activity and specific requirements.
Opening a commercial register in Dubai for Saudis
For Saudis who want to open a commercial registration in Dubai , here are the basic steps to follow:
- Determine the work activity: The work activity you wish to practice must be precisely defined, as it must be compatible with the activities permitted in Dubai according to local licenses.
- Choosing the legal form: Saudis must choose the appropriate legal form for their business activity, whether it is a sole proprietorship, partnership, or limited liability company, taking into account the differences in requirements and costs between them.
- Choosing a company name: You must choose a name for the company that complies with local laws and regulations, and ensure that it is not similar to the names of already existing companies.
- Company incorporation and licenses: With the help of a legal advisor or certified accountant, you must prepare all the necessary documents to establish the company and obtain the necessary licenses from the relevant authorities, such as the Dubai Economic Development Department (DED).
- Obtaining a visa and residency: After establishing the company, Saudi business owners must apply for a visa and residency to work in Dubai, and the steps and requirements can vary depending on the type of company and nationality.
- Opening a bank account: Business owners must open a bank account in a recognized local bank in Dubai to manage the company’s financial transactions.
- Registration with the Chamber of Commerce and Industry: You must register with the local Chamber of Commerce and Industry, submit some basic documents and pay the required fees.
- Social and health insurance: Companies may require that their employees be registered in the National Social and Health Insurance System in Dubai.
- Commercial Insurance: Some businesses may require approved commercial insurance.
- Adherence to legal and tax controls: Saudis must adhere to all local legal and tax controls, including regularly submitting financial reports and tax filings.
By carefully following these steps and consulting with business and legal professionals such as Itqan, Saudis can successfully open a commercial register in Dubai and benefit from the vast opportunities available in this dynamic market.
Conditions for opening a commercial register in Dubai for Saudis
To open a commercial register in Dubai , conditions vary based on the type of company and chosen business activity, but here are the general conditions that Saudis must consider:
- The appropriate legal form of the company must be determined, whether it is a sole proprietorship, limited liability company, partnership, or any other form available according to local legislation in Dubai.
- The business activity you wish to engage in must be permitted and compliant with local regulations and legislation in Dubai. A list of permitted activities can be obtained from the Dubai Department of Economic Development.
- The Saudi company must follow the foreign ownership laws in the UAE, which may sometimes require the presence of an Emirati partner at a certain percentage depending on the business activity.
- There may be requirements for seed capital which must be deposited in a local bank in Dubai or fixed upon incorporation of the company. These requirements may vary depending on the type of company.
- All licenses and permits required for commercial activity must be obtained from the relevant authorities, such as the Department of Economic Development in Dubai and other government agencies as needed.
- A company bank account must be opened in an accredited local bank in Dubai, and some companies may require the submission of an investment certificate or its equivalent from the Central Bank.
- All legal controls and social and health insurance that may be required for companies and their employees must be adhered to.
- Companies may be required to submit periodic financial reports and comply with local tax and administrative legislation.
The Department of Economic Development in Dubai is committed to providing accurate information about the conditions for opening a commercial register, and it is always preferable to consult Itqan Company’s consultants who specialize in the field of establishing companies in Dubai before starting the incorporation process to ensure full compliance with all local conditions and regulations.
The importance of the commercial register for establishing Saudi companies in Dubai
The commercial register represents great importance for the establishment of Saudi companies in Dubai in several important aspects:
- The commercial register is considered a major input into the legitimacy of a company’s business in Dubai and the UAE in general. By registering, a company becomes officially recognized by local authorities, government and commercial institutions, providing stability and legal security for business activities.
- Thanks to the commercial registration, the Saudi company can easily access the local market in Dubai and the UAE, thus expanding its business scope to include many business opportunities available in the region, including participation in government and private tenders.
- When a company is registered, legal protection is provided to the company’s assets and property, which increases confidence among investors, customers and business partners.
- The commercial register provides the necessary framework for the company to expand and grow in its field of business, including the possibility of opening new branches or expanding the scope of commercial activities offered.
- Registered companies have the opportunity to benefit from a range of government benefits and financial and tax facilities available to registered businesses, which enhances business efficiency and stimulates investment.
By relying on the commercial registry, Saudis in Dubai can build and grow their companies more sustainably and effectively, while ensuring compliance with local laws and taking full advantage of the business opportunities available in the thriving emirate of Dubai.
At the conclusion of this article, we realize that opening a commercial registry in Dubaifor Saudis represents an important strategic step that opens wide doors for opportunities and growth in the business world. By registering a company and complying with local laws, Saudi investors can exploit Dubai’s evolving business environment and supportive investment climate to build thriving and sustainable companies. Thanks to professional guidance and integrated support from local experts, Saudis can overcome legal and administrative challenges and benefit from the promising opportunities offered by this leading emirate in the business world. If the step of opening a commercial register is the beginning of the journey, then a commitment to success and innovation is the key to building a bright and prosperous future in the dynamic Dubai market.
Frequently asked questions about opening a commercial register in Dubai for Saudis
What is the approximate time to open a commercial register in Dubai?
The time to complete the procedures can vary depending on the type of company and the efficiency of cooperation with local consultants. Generally, the process can take approximately two weeks to two months, depending on the efficiency of the organization and procedures required.
Can Saudis run their companies themselves or do they need local agents?
Saudis can run their companies themselves, but some businesses may require a local CEO to comply with local requirements. It is preferable to obtain legal advice to ensure compliance with all regulations.
What are the expected costs of opening a commercial registry in Dubai?
Establishment costs vary according to the type of company and its requirements, and include registration fees, government fees, and legal and accounting consulting costs. A detailed financial budget should be reviewed before the process begins to estimate total costs