- December 3, 2018
- Posted by: DBS
- Category: Dubai Business Services
As the corporate world grows, it has become evident that a newly emerging center of commerce is Dubai, UAE. With multiple multi-national companies setting up branches in the “Pearl of the Arabian Gulf.” If you’re looking to join the race to establish yourself in the Arabian Peninsula, then you’ll want to know the details about setting up a branch office for your company in Dubai.
A branch office refers to an offshoot of a parent company that is located abroad. The benefits of having a branch office is that your company can explore new areas and expand its horizons. Making new deals and partnerships becomes easier. A branch office in Dubai is ideal for tightly regulated industries like Banking, Financial Services and Insurance (BFSI).
After you have decided that you want a branch for your company in Dubai, you need to follow some steps to solidify the deal.
- The first step is finding a Local Service Agent (LSA), who is a UAE citizen or a company which owned only by UAE citizens. The role of the LSA is to administer chores such as obtaining licenses, permits, visas, etc. for a fee. The LSA has no hold in the company, and only provides the service for your company to get recognized in the UAE.
- Next you’ll have to reserve a trade name for the branch office at the Department of Economic Development (DED).
- The Ministry of Economy (MOA) requires your branch office to be confirmed at their department, which you can do after filling and submitting the required forms and applications.
- Once the Ministry Of Economy approves the application, you will have to apply for a commercial license at the Department of Economic Development. The DED shall then issue the license at their discretion, which is valid for 1 year, and can be renewed annually.
- Finding the right office space is should also be on your priority list, as it will affect the standing of your company and subsequently your business.
- Having a corporate bank account is essential for your transactions that will be conducted at the branch office.
- If you’re looking to bring employees from your main office, then you’ll have to get visas and labor cards for them. If you want to offer employment to local experts then you can start a recruitment campaign.
- Finally, the branch office should be registered at the Dubai Chamber of Commerce and Industry.
The cost for the whole process can be divided as:
Applying at the Ministry of Economy AED 5,000
Registering with the Ministry of Economy AED 10,000
Deposit with the Ministry of Economy AED 50,000
Registering and licensing with the local government (approximate) AED 10,000
Dubai Local service Agent fee (approximate) AED 15,000
We provide all the services required to make the process of setting up a branch office as easy as it can be. No one else provides pro services in Dubai and UAE better than us. The services include:
- Getting ready the application documents
- Looking for a reliable Local Service Agent
- Finalizing Government Approvals
- Assisting the setting up of a corporate account
- Giving you great option for your office space in Dubai