You know that business setup in Abu Dhabi the capital of United Arab Emirates UAE, the most important business and commercial center in the Middle East and Asia, one of the fastest-growing destinations on this planet, and overall very attractive place to live and work in. The city is located on the Arabian Gulf coast and has a humid subtropical climate with mild winters and hot summers.
Tips for Starting Businesses in Abu Dhabi
The city has a lot to offer entrepreneurs, including a thriving economy and a supportive business environment. However, there are a few things you should keep in mind when setting up your business in Abu Dhabi. Here are tips for starting businesses in Abu Dhabi to help you get started. You’ll need to obtain an operating license from the Economic Department of the Emirate of Abu Dhabi ED
- You’ll also need a trade license from the Ministry of Economy MOE
- You may also be required to set up a free zone company with Central Market Investments Company CMIC
- Be sure that all employees have their labor cards
- Register for VAT at the MOE with one-month prior notice
- Make sure that any business partners have their shares transferred into your name
Choose a business name that has not already been taken in the Emirate of Abu Dhabi. Any other company or person having a business license registration number, which same as your business name, needs to be informed by you and they have to change their business license registration number. You should give them a minimum of 1 month’s notice before changing your company name.
This will ensure that there is no confusion over who is operating under a certain name. You may also want to appoint an agent if you are planning on opening a “business setup in Abu Dhabi” up shop outside of Dubai. The ED’s Economic Offices section can provide more information on these matters and others relating to your business setup in Abu Dhabi.
Small Business License in Abu Dhabi
If you’re thinking of starting a business in Abu Dhabi, there are a few things you need to know about business setup in the city. First, you’ll need to obtain a small business license in Abu Dhabi Department of Economic Development. This can be done by submitting an application and paying the required fees.
There are many factors to consider when choosing a location, such as proximity to potential customers and accessibility. Once you’ve found a place, you’ll need to set up your office or shop. This includes furnishing the space and installing any necessary equipment. Finally, you’ll need to register your business with the Chamber of Commerce and Industry.
While you may be able to manage your business setup in Abu Dhabi on your own, it’s important to remember that there are a few agencies and regulations governing business operations. For example, you’ll need a permit from a government agency if you want to conduct or use certain equipment or processes at your location.
This is another good reason to work with a UAE-licensed attorney who can help set up and manage your business. You’ll also want to register for tax purposes and obtain a VAT number once you’re ready to start selling goods or services.
How Much Is business setup in Abu Dhabi?
A business permit in Abu Dhabi costs AED 2,000 for a professional license and AED 5,000 for a trade license. The Abu Dhabi Chamber of Commerce and Industry ADCCI provide a wide range of services to help businesses get started in the emirate. How much is the business permit in Abu Dhabi another agency that assists companies setting up business in Abu Dhabi includes:
- Advance Business Center
- Agency for Industrial Cities
- Department of Economic Development Oasis Zone
From registering with the Federal Tax Authority FTA, applying for business permits, getting bank accounts set up, and obtaining work visas from embassies around the world. ADCCI also has an online portal where business setup in Abu Dhabi can find information on laws and regulations that may affect their industry.
Also read: Company Formation in Abu Dhabi
Department of Economic Development
The Department of Economic Development is another government entity that helps companies set up their businesses by assisting with regulatory requirements as well as providing grants to encourage new investment in Abu Dhabi’s economy.