Sole Establishment
in Dubai
A sole establishment or sole proprietorship in Dubai is a legal entity completely owned by an individual with a trade license issued in his/her name. The single-owner assumes all the financial responsibilities, liabilities, management, and operations of the company and upholds unlimited liability. Companies that deliver professional services and do not open to any commercial business are exempt from the Commercial Companies Law (CCL) but are required to be licensed by the Department of Economic Development (DED).
Who Can Open a Sole Establishment in Dubai?
Any UAE resident and non-UAE resident can open a sole establishment in Dubai or anywhere in UAE. The UAE government has provided many facilities and concessions to investors and entrepreneurs for business setup in Dubai.
If you are a UAE resident you can easily go through the legal procedures to set up a sole establishment. But if you are not a UAE national then you are required to appoint a National Service Agent (NSA) to assist in obtaining licenses, visas, etc. NSAs have no direct involvement in the business. Sovereign is able to act as the NSA.
How to Set Up a Sole Proprietorship Company Effectively?
As we know any startup is based on some rules and basic principles which lead it to the heights of success. So before setting up a sole establishment in Dubai and investing your money follow the steps mentioned below;
- Speak to a business setup consultant who will advise you on the correct legal procedure for your sole proprietorship company formation in the UAE.
- Appoint a National Service Agent (NSA) who must be a UAE resident. He will guide you through the DEDs and LLCs procedures and manage these for your company formation.
- Provide all the necessary attested documents to the authorities so that they can trust you.
- All the documents must be translated into Arabic before presenting to the authorities in UAE.
- The sole proprietor engaged in consultancy activities must have qualifications for the same activity that he has selected.
- There is a limitation to the number of managers that can be appointed on a professional license.
- The capital of the business is not a constraint for a sole proprietorship.
- The business name must be related to the commercial activity of the company.
- The owner can also change its legal form according to DED procedures.
- A certified copy of the shareholder’s passport;
- Permanent residency visa copy.
- A letter of no objection (NOC) from your present UAE visa sponsor;
- If necessary, proof of education, training, or experience
- Certification of the General Manager’s passport, as requested
- A total of two certified certificates of residence for the CEO
- CV for General Manager
- Letter of recommendation from a bank or professional reference for the general manager of the company.
All papers must be notarized and authenticated by the UAE consulate and also from the applicant’s home country. Before submitting documents to UAE authorities, they must be translated into Arabic by an authorized translator. Sovereign will oversee the whole application procedure from start to end, requiring all needed documentation.
Benefits of a Sole Establishment / Propertrioship
- Foreign professionals can obtain 100% ownership of their business in UAE as a Sole Propertrioship.
- Including Free Zones and Main Land setups, the business can practice legal services anywhere in the UAE.
- There are no specific location restrictions on the Sole Propertrioship for office premises. You can set up your office anywhere in the UAE.
- The government has permanently waived any paid-up capital requirement.
- Rapid business registration
- No business capital is needed
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Start a Sole Establishment in Dubai With Booming Bytes
Setting up a business in UAE will be the best decision for your business growth and development. UAE provides many facilities to investors and entrepreneurs all around the world to set up their own companies or business. As it consists of several steps and procedures, it must be difficult for you alone to complete the process. At Booming Bytes, we can help you to start your business anywhere in UAE without any hassle.
If you’re planning for sole establishment/ proprietorship company formation in Dubai, contact us to talk with one of our business setup consultants to make your dreams into reality.