Business Setup in Dubai Made Easy: 10-Step Checklist After Registration
As you are reading this blog, we hope that your company registration process is completed. Hence, you might be thinking that this is your last step, but well, let us stop you here. As there are still some steps left for you to perform. And we are not talking about getting a business license. There is a 10-step process that you have to follow for your seamless business operations in Dubai. This blog will help you with this post-business setup checklist and additionally, we will also provide you with additional help if you require any.
Make My Firm is a business setup consultancy in Dubai. We have completed over 12 years in offering consultancy to entrepreneurs for their easier company formation in dubai. Additionally, our business consultants provide necessary assistance for your visa services and ensure there are no obstacles for you to enter the UAE. Connecting with Make My Firm ensures that you never have to worry about your business setup in Dubai and get assistance at every step you require.
Post-business setup checklist: You must know if you are thinking about company registration in Dubai.
First of all, we want to congratulate you on your successful business setup in Dubai. As you are all set for your business, now it is important for you to know this post-business setup checklist that ensures that your business operates seamlessly in Dubai and you follow all the guidelines laid out by the Dubai government.
A 10-step post-business process.
Here we are listing 10 steps that you have to follow once your business setup is completed.
Open a bank account: As you are done with setting up your business in Dubai, now comes the part of the post-setup checklist. The first step is you have to open a corporate bank account. There are various banks in Dubai you can choose from. However, we suggest that you don’t choose one before knowing their policies and other things. As you are going to open your bank account, there are some documents you have to submit. You can ask our business consultants, and they will help you with that.
Secure a UAE residency visa: As you are starting your company in Dubai, you need to have a visa so you can actually come and operate your business. The most important thing you have to remember is that your office space determines the number of employment visas you can have. Hence, select office space accordingly.
Register of Wage Protection System: We all know Dubai operates by the laws and regulations. Hence, you have to follow the WPS rules and must register for the same. The WPS ensures that employees are paid correctly and that too on time. Note one thing that if you are not following WPS rules, then you can be fined penalties from AED 5000 to AED 50,000.
Establish an accounting and bookkeeping foundation: As per the new UAE tax laws, it is now mandated to secure your transaction records for at least 5 years. This will ensure a smooth tax process for your foundation. In some cases, it is advised to take expert tax consultants to help maintain your tax records. However, there are also some essential tasks you have to follow to keep your foundation in order. Ensure daily bookkeeping, invoice management, monthly financial reports, etc. Also, you can always rely on us for any tax-related services in Dubai.
Complete VAT registration: We hope that you know the limit for your VAT registration. If your taxable income exceeds AED 350,000, then you have to register for VAT. If you have not registered for it, then you have to face penalties for non-compliance as per the Federal Tax Authority rules. That is why it is a smart move to be careful about your expenses and VAT registration.
Ensure ongoing regulatory compliance: To be honest, every country has its own rules and regulations. Dubai is the same, and you have to strictly follow all the regulatory compliance. We are listing some of them here. If you need assistance, we can help you with that as well.
You have to annually renew your trade license and any other important document.
Share the information about who owns and controls the company.
Report your economic substance in the UAE.
You have to timely register, calculate and file your corporate taxes.
Secure physical office space: You also have to find the right office space for your business operations in Dubai. As per your office space, you get the employee visas. That is why it is suggested to first think about your employee strength and then find an office space, so you don’t have to worry about anything in the future.
Protect your brand with trademark registration: Having trademark registration for your brand is one of the most important steps. It ensures that this name belongs to you only. Trademark registration’s sole aim is that it protects your logo, brand name and everything. It gives your business authenticity that you own it and no one else.
Build a compliant HR framework: You can’t build your company on one hand. You require a strong workforce so that you can work accordingly and speedily. That is why having an excellent HR foundation ensures that employees are happy on the premises and improves productivity too.
Leverage strategic outsourcing: If it's necessary, you can outsource force to satisfy the demand of work. There are various outsourcing companies that offer excellent talent sources.
This is the 10-step post-business launch guide that makes it easier for you to start your business operations in Dubai without many obstacles.
Why choose Make My Firm for your company formation in Dubai?
Make My Firm has assisted various business entrepreneurs with their business setup. Hence, we have knowledge of almost all the business activities. Additionally, our PRO service experts can help you with your various requirements. Having Make My Firm by your side offers you the benefit of running ahead of the race and winning. With 12+ years of experience, we have built business strategies that surely work for your business.
Conclusion
Our extensive years of experience can assist you with your business setup, and you can also leverage it to build successful business strategies. Having us during the process proves beneficial and budget-friendly. You can get in touch with our expert business setup via call or WhatsApp at +971 52 673 9777 or email us at [email protected] for reliable advice and complete assistance before your appointment.