In this article, we share the complete process of how to start a company in Abu Dhabi and highlight some of the most important things you need to know. For starting a business in Abu Dhabi, you first need to choose the right legal structure for your company. There are several options available, but the most common ones are sole proprietorship, partnership, and limited liability company (LLC).
Once you’ve decided on the legal structure of your company, you need to register it with the Economic Department of Abu Dhabi. This can be done either online or in person at one of the Economics Department’s offices.
Company Registration
What documents are required?
In order to open a company in Abu Dhabi, there are a number of required documents. The most important document is the trade license, which is issued by the Department of Economic Development (DED). In order to obtain the trade license for one’s company in Dubai, one must first select a trade name, have the Memorandum and Articles of Association prepared, and then filed with the DED for initial approval. One must also have a rental agreement as proof of the registered address of the Dubai company.
How long does it take to process the registration?
When you want to open a company in Abu Dhabi, there are certain procedures and paperwork that you need to complete. The time it takes to process the registration will depend on the type of company you are registering, as well as the amount of documentation you need to submit. In most cases, it will take between two and four weeks to process the registration.
What is the Cost of Company Registration?
Starting a company is a complex process that requires some time and effort, but the benefits of doing so can be considerable. The first step is to understand the cost of company registration. There are different costs depending on the type of business you want to establish.
The following are some of the expenses that may be incurred:
1) License fees: Companies must pay an annual license fee, which is based on the company’s authorized capital.
2) Capital requirements: A minimum capital requirement must be met in order to register a company. The amount varies depending on the type of company being registered.
3) Notarization and authentication fees: Documents filed with the authorities must be notarized and authenticated, which incurs additional costs.
4) Corporate bank account: A corporate bank account is required in order to conduct business in Abu Dhabi. The cost of setting up and maintaining a corporate bank account can be significant.
5) Registered office: A registered office is also required, and companies must pay rent for this space.
Corporate Governance
In order to protect your company’s interests, it is important to understand the corporate governance laws in Abu Dhabi. Governance is important due to the role it plays in regulating the relationship between the main parties to the company (the shareholders, the company’s executive management, and the board of directors) so that it specifies the responsibilities and rights of each party. Therefore it becomes necessary to understand the corporate governance system that applies in Abu Dhabi and UAE as a whole.
How many Free Zones are in Abu Dhabi?
Presently, there are five free zones in Abu Dhabi:
- Abu Dhabi Global Market
- Abu Dhabi Airport
- Twofour54 (the Media Zone Authority)
- Khalifa Industrial Zone Abu Dhabi
- Masdar City Free Zone
In Abu Dhabi, establishing a small business is an easy process. Abu Dhabi is the top option for foreigners looking to build their commercial footprint in the UAE. In recent years, the UAE government has made major efforts to make it easier to open a business in Abu Dhabi. This all focuses around making investment simpler. If you are just beginning your planning, it might be a good idea to take into account free zones in Abu Dhabi. UAE is one of the most attractive places in the region to start a business, and its prominence is only going to increase in the near future.
At Medialinks we provide services for website development, app development, branding campaigns for UAE that will further strength your presence in Abu Dhabi
