Licensing is Key: The All-Important Manpower Supply License
Which to Choose for Your Business Location: Mainland or Freezone
Dubai has two main choices for forming a company:
- Mainland Company Setup: Setup a Mainland Company gives you access to the whole UAE market and permits 100 percent foreign ownership. Mainland businesses, however, have more operating costs and demand more complicated processes.
- Freezone Company Setup:Dedicated licenses for the supply of labor are provided by several Free Zones in Dubai. Free zones frequently offer efficient procedures, favorable tax treatment, and first-rate commercial infrastructure. Free zone businesses may be limited in where they can conduct business, though (outside the free zone).
Steps to Obtain Your Manpower Supply License:
1. Select the Location of Your Business: Before choosing, carefully weigh the benefits and drawbacks of both mainland and freezone configurations.
2. Finalize Your Business Structure: Decide on a legal form that best suits your business objectives, such as an LLC, to complete your business structure.
3. Secure Initial Approval: To obtain initial approval, you must submit paperwork to the appropriate authorities, such as your business plan and partner data.
4. Apply for Your Trade license: After receiving preliminary permission, formally submit an application for your trade license, which should include the license for the supply of labor. Further paperwork, such as your preferred company name, the office lease agreement, and the MOA/AOA, will be needed for this.
5. Open a Corporate Bank Account: In order to conduct financial activities, a company bank account is required. You can get help with this process from a lot of company creation providers.
Additional Considerations
- Visa Requirements: You must secure the necessary visas for yourself, your workers, and any new hires.
- Office Space: Locate a suitable office space that complies with regional laws pertaining to firms that supply labor.
- Building Strong Relationships: Form solid alliances with companies in your target industry and recruitment agencies.