UAE is known to be a hub for global businesses and many small and large companies from all over the world are very keen to be a part of the UAE business community. Starting and running a business in Dubai can be tricky if not channeled properly. All thanks to the companies providing corporate PRO services Dubai may give your business a chance to flourish and rise above your expectations.
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How to Set Up Your Company in UAE?
The first thing to do while setting up a business in UAE is to apply for your company’s registration and for that you must do the trade name registration first.
A trade name is known as the official name your business would be called with. Before moving forward with license registration and other formalities to set up a company, you must reserve a trade name for your company. This will provide your business identity. To register a trade name, there are certain instructions by the UAE’s commercial law which will be discussed in detail below.
Why Do You Have to Register a Trade Name?
A trade name is the first and initial step of choosing the name of your business and making it official. It is mandatory in UAE to register a name for your business, even before obtaining a trade license, by the Department of Economic Development (DED).
How Long Does It Take for Trade Name Registration?
Reserving a trade name for your business is not a long and time-consuming process. It is mostly done within 24 hours after the application.
How Do You Apply for Reserving a Trade Name?
If you are new in Dubai then consulting a nice company offering PRO services can be of great help to you, however, you can also do it online via various platforms by following the steps:
- Sign up and log in to a Department of Economic Development (DED) approved platform
- Go to book a trade name field
- Select a name
- Select business activity (primary and secondary)
- Check availability and reserve if available
Once you have reserved a name, you must go to the concerned Economic Department and fill out an application with the required supporting documents to apply for registering the trade name. You can pay the trade name reservation fees at the counter there. You may also seek help and guidance through the best PRO consultants providing corporate PRO services in Dubai to make a seamless trade name registration.
What Are the Terms and Conditions of Choosing a Trade Name?
There are certain instructions from the Department of Economic Development (DED) that you must keep in mind while choosing a trade name for your business. These are:
- The trade name should not be booked or reserved by a similar business activity
- The trade name should not contain religious words such as ALLAH, LORD, GOD, or any other GOD’s name, etc.
- The trade name should not contain the name of any country, government, or ministry.
- The trade name should not point towards any sectarian or religious association such as ISI, Mafia, etc.
- The trade name should not carry any discrimination of caste, race, color, or ethnicity.
- The trade name should not have any similarity to pre-existing names in the Ministry of Economy such as McDonald’s, Huawei, etc.
- The trade name should not begin with the word ‘Universal’ or ‘International’ in either of the languages, English or Arabic.
- Once the payment permit is issued to you after reserving the name, you must pay the Reservation Fees within the next 72 hours.
For How Long Can You Reserve a Trade Name?
You can indeed reserve a trade name even before issuing a trade license but the validity of your reservation is of 6 months. In case you don’t show up with a trade license and proceed with further business registration steps, the trade name you booked will be canceled under your application.
How Much Does It Cost to Register a Trade Name in UAE?
The cost of registering a trade name in UAE varies from Emirate to Emirate and also depends upon the Economic Department. The trade name you decide to choose for your business also affects the cost of registration.
Want to Reserve a Trade Name for Your Business Now?
Payroll Middle East comprises a well-sought team of professionals who provide you with the best PRO services in Dubai. Whether it is about reserving a trade name for your business or you wish to know about payroll outsourcing companies in Dubai, Payroll Middle East has figured it out all for you. Contact us today and let us play our part in your company’s success.
