Planning on starting a technical business service in Dubai? To know the what’s and how’s in technical services company incorporation, we have compiled the ultimate guide to help jumpstart your business plan:
What are technical services?
Technical services, by definition, are specialized services offered by professionals and experts of a particular field. These services require a certain educational or experience level from an individual to carry out said service to clients.
Benefits of setting up a technical services company in Dubai
Dubai has proven to rapidly grow and sustain its economic standing to the world by maximizing its support to new and growing businesses in the Emirate. As it continues to aim for a more diversified economic environment, it has seen great importance in building an intellectual and gifted community with specific range and expertise in order to attract business in the future.
With this, companies offering specialized and highly technical services are encouraged to incorporate in Dubai and take advantage of the numerous benefits, including the following:
- No corporate tax and personal tax required
- Allows foreign ownership in free zones
- Access to both local and international markets, depending on your setup
- Wide network and clientele due to the robust economy in the country
- Strong workforce available to assist the continuous growth of your company
- Innovative and world class facilities to aid your offered services
- Business setup and management kept at a minimum, giving you more time to focus on running your company
What are the steps in setting up a technical services company?
Business setup in Dubai is fixed and straightforward. To incorporate a technical services company in Dubai, check out this easy steps:
1. Research and decide on your chosen license and authority. You may choose from either setting up Dubai Mainland through the Department of the Economic Development and access the local market, or choose from the more than 30 free zones available in Dubai and take advantage of the tax exemptions, depending on the needs of your business. If you are a Sole Proprietor, you may apply for a Professional Service license or you opt for Limited Liability Company (LLC) setup. You may also check out the activity list of technical services available for each authority to know if it fits your business plan.
2. Prepare your documentary requirements. For faster transaction and setup, get ahead and complete your requirements before visiting your chosen authority. In general, you would need to prepare the following:
- For Individual shareholders:
● Accomplished Company Setup Onboarding form
● Scanned copy of visa page (if UAE resident)
● Scanned copy of UAE Entry Stamp
● Scanned copy of Emirates ID
● Scanned copy of Passport
● Passport size photo for all individual shareholders
- For corporate shareholders:
● Accomplished Company Setup On boarding form
● Original and attested copy of Board Resolution
● Scanned copy of Trade License
● Scanned copy of Memorandum of Association
● Scanned copy of Certificate of Incumbency
● Scanned copy of share certificate
● Scanned copy of the passport of UBO’s
● Scanned copy of the passport of Manager
● Scanned copy of Manager’s visa (if UAE resident)
● Proof of address of the signatory
● Passport size photo of Manager
3. Decide on your additional services. Most business packages available in Dubai are customizable, depending on the needs of your company. You will also save time and money if you decide early in the incorporation process what to include in your package, such as visa allocation, office and facilities available, corporate support, even digital marketing and other vital services. Still, this would depend on a lot of factors including your budget and company size.
4. Open a corporate bank account. Once you have received your license, you may now apply for a corporate bank account and utilize the financial services in place in Dubai, making your income more secured and protected.
Start your company with IBG Consulting
As your dedicated local agent, IBG Consulting will assist you in setting up your company from start to finish, giving you more time to focus on things that matter the most – mastering your craft and building your brand equity. Together with our group of experienced agents, we will help you choose the best mainland or freezone business setup license and expand your horizons at Middle East’s fastest growing Emirate.