Sole Proprietorship
A sole proprietorship in the UAE is a legal entity owned or operated by a single individual who holds a trade license issued in their own name. The owner assumes all responsibilities of the entity, including financial liabilities. Any professional service providers that do not engage in commercial activities are exempt from the Commercial Companies Law (CCL). However, they must obtain a license from the Department of Economic Development (DED). We can assist you in setting up a Sole Establishment in Dubai or anywhere else in the United Arab Emirates.
Crucial Steps for Establishing an Establishment or Sole Proprietorship in the UAE:
In the UAE, setting up a sole proprietorship business necessitates the involvement of a local service agent, who must be either a UAE national or a company entirely owned by UAE nationals. Nines Consultancy offers 100% UAE-owned LLCs that are managed and controlled through power of attorney or similar legal arrangements. These companies serve as local service agents.
The Process For Sole Proprietorship Registration In UAE
The steps for registering a sole proprietorship include the following:
- Selecting a business name requires uniqueness and relevance to your business.
- Getting preliminary approval from the Department of Economic Development is crucial. It signifies the necessary permission to officially register your business.
- Selecting the legal structure, which in this instance is classified as a sole proprietorship.
- Securing approvals from additional departments.
- Complete the registration of your business by submitting an application form along with the required documents.
- After registering your business, you can proceed to apply for a license.
Necessary Documents For Registration And Approval Of Sole Proprietorship
- Shareholder passport copy
- NOC certificate from current resident visa sponsor
- General manager passport copy
- UAE resident visa copy, if necessary
- Proof of educational qualification, professional experience