What is a Sole Proprietorship?
It is a type of business where a single person is involved in the debt and finances of the company. Compare to other businesses, this business is profitable and has more chance of growth. There are many more things that being a business owner you should know about the company formation and sole establishment UAE and here in this post, we will discuss all the things in detail. sole proprietorship
Benefits of a Sole Proprietorship in UAE
- While you will choose sole proprietorship UAE, then you can set up your company in any of the locations of Dubai and there will be no restriction of doing so.
- There will be 100% foreign ownership for the foreign professionals
- One can perform any of the legal activity at any part of Dubai
- There will be no paid-up capital requirements
Terms and Conditions For Sole Establishment Company Formation in UAE
It is very much important for you that you should clear about all the things related to the sole establishment company formation in UAE. So, have a quick look at its terms and conditions.
- The education or the qualification of the business owner must be matched along with the type of business he or she is choosing
- There will be a limitation of choosing the number of managers according to the professional license
- Multiple branches or activities can be done only under a single proprietorship.
- The name of the business must be related to the commercial activity card
How to Setup the Sole Establishment Company in UAE?
To get the sole proprietorship in UAE is difficult, but it is nothing like that if you will follow the right step for the proprietorship. So, let’s understand all the steps in detail.
- First of all, you must choose the name of the business and the trade name
- It is very much important for you, that you should have approval from the DED.
- There must be no legal issue about getting approval from the various departments of Dubai
- You must have an idea about Documents Required for Sole Establishment Company Registration to make your process easier and faster
- After registering your business, you can easily apply for the license.
How Business Link Team Can Help You?
We know you still have doubts or issues related to how to set up a sole establishment company in UAE, but you do not worry as the team at the Business Link is always here to help you and resolve your problems easily related to it. We have the best team who are professional experts & have knowledge on setting up a sole proprietorship in Dubai, UAE.