Dubai, as the global hotspot for business settlements, is gaining more and more entrepreneurs and their inventive startups to boost the nation’s economy. By understanding the corporate needs, the government is supporting and promoting more new business setups in Dubai. These initiatives and policies have brought more exposure to the business setups out there, and you can easily form a company out there with simple procedures. But first, you will need to consider many eligibility criteria that set you right on the track. These are important legal works that make you suitable and legitimate to work publicly. Even with all the aspiration to start a new business in the heart of the metropolitan city, you cannot miss out on the basic requirement that allows you to get verified by the authorities. Here we can discuss what are the initial needs and basic requirements that are needed to get your business setup approved to be public.

Understanding the Business Scenario in Dubai 

The modern corporate world has created huge possibilities for modern businesses to show up and get their spot in Dubai. There is space for everyone in the market, and the government implemented many policies and conditions to make all the new settlements grow on the same ground as the big business tycoons in the UAE. You will be surprised to hear the total number of startups that are registered in the Ministry of Trade or in the DET(Department of Economy and Tourism). Last year, the number exceeded 2000, and they are versatile in the fields and industries they specialise in. The government bodies are seeing a huge positive impact in bringing a culture that focuses more on change.

The authorities are seeing the opportunity in gaining expertise in all these fields through each entrepreneur who registers their company. These companies are now keeping up with all the business leaders and moguls out there who are residents as well as foreign traders. This whole business ecosystem is impressive in every possible way because of the diverse nature it manages to improve. This is gaining more interest from foreign traders to start their own companies with basic and flexible laws to follow. And for all of them, the most important factor is the Immigration Card that acts as an identity to verify your trade in every corporate setting.

Significance of Dubai Immigration Card  

An Immigration Card is a form of ID card that gives information about your trade. It mainly consists of trade names and a specific number that is denoted by trade number. This information is registered in the Ministry of Trade at the time of trade name registration. The Dubai immigration card is a necessary factor in starting your own business. More than that, it has an array of benefits that can improve the overall operational aspects of your newly formed company. 

Acquisition of an immigration card in Dubai gives you the power to get an unlimited number of employee visas, which helps you to gather a team of staff and other skilled individuals to work in your company. It also helps in the renewal or application of any major required licenses that you need to get approved for the company in the future. Mainly, it is the identity of the stakeholders to keep the immigration card of the trade to set off all the legal necessities in the long run.

Steps in Registering a Business Setup In Dubai

Choosing a Trade Jurisdiction 

The trade jurisdiction simply means whether you are setting up the company in the Dubai mainland or in the free zone or in the offshore region. These are the three primary business jurisdictions that are distinguished by their differentiation in business activities. It is essential to take a closer look into the possibilities to make the right decision from the get-go. 

Approval of Trade Name  

Next step is setting the trade name that is clearly unique. What it means by unique is that, you should pick a company name that is not registered before. It should stay true to your trade and be relevant at the field of work you are choosing.

Necessary Trade Licenses  

The trade licenses are an important component in creating the most out of what you can do in the trading business. If you are continuing to go ahead with Mainland trading, you will get direct access to the market. With great influence within the market, you might be in need to solve a lot of custom-related barriers to make everything seem legal. So getting the right license for every aspect of business is important to ensure smooth functions within the organisation.

Submitting Documents to Authority 

With all the approved documents and other paperworks, you need to submit the application form for registering the business setup to the responsible Authority. For mainland approval, you will be heading to the DED Dubai Economic Department for Mainland and for Free Zone jurisdiction you have to submit it to the preferred Free Zone trade regulation office.

Other needed documents will be the copies of the Passport, the Memorandum of Association (MOA) or simply the business plan, the trade licenses and copy of the lease Agreement where you rented or bought the space for the company.

Conclusion

In Dubai, even with the flexible business procedures, you will find it difficult to manage all the legal paperwork and handle all the required documents. You will need help from professional service providers like Business Mantra to make sure you get the best advice and tips all through the way to make the effective use of all resources. You can easily save a lot of time if you hire a business setup company in this process. And for attaining the Dubai immigration card, you will be required to submit all the documents to get approved, and you need to be accurate and steadfast throughout the process.