Companies with Licenses in UAE

The cost of registering a company involved in trading diamonds and gold depends on the types of products the company intends to sell. The final price is also influenced by the number of resident visas needed for shareholders and employees, if any are hired. Visas are valid for three years.

If, in addition to selling diamonds and gold, the company trades in other goods, the business owner can purchase an additional license for the relevant products.

It is important to note that for the registration of a company and the opening of an account in the UAE, the presence of the shareholder(s) for one day is required.

To establish a company dealing in precious metals, it is necessary to pay a registration fee, prepare license, charter, and corporate documents. During the registration process, tasks such as checking and reserving the company name, performing security checks ("Security Check") on shareholders and directors, preparing lease agreements, and others are carried out.

Apart from the procedures mentioned above, additional expenses should be considered: office rental, courier services, travel to the UAE for signing documents, purchasing video cameras, safes, and other security systems required by the Dubai Police for granting permission to register a company engaged in this type of activity.

Documents required for company registration include a passport, a recommendation letter dated within the last three months, proof of address (e.g., utility bill) dated within the last three months, and a bank statement covering six months dated within the last three months.

The company registration process takes approximately two months, and with the inclusion of opening a bank account, it can take 2.5-3 months, assuming all necessary documents are provided.

Opening an account for such a company is possible in banks such as Noor Bank, where the minimum monthly balance is $2,800, Abu Dhabi Islamic Bank and Mashreq Bank, where the minimum balance is $6,800, as well as other banks.

Manufacturing License in Dubai (UAE)

To start manufacturing in Dubai, it is essential to obtain a manufacturing license.

Setting up a production company involves several stages:

1. Stage 1 – Reserving and registering the company name;
2. Stage 2 – Obtaining preliminary approval for registration from the Dubai Municipality, as well as getting approvals from the Economic Department, Industrial Department, etc.; Additionally, certain conditions must be met to secure a manufacturing license, such as ensuring the company's authorized capital, submitting a production business plan, hiring qualified personnel (at least ten employees), and so forth.
3. Stage 3 – Finding and selecting premises. At this stage, the lease agreement must be registered with the Land Department, based on which the manufacturing license will be issued. Also, a 5% tax on the annual rent must be paid.
4. Stage 4 – Signing a memorandum in the Dubai court. At this point, a local nominal shareholder is invited to the court. Under UAE law, 51% of shares in a company engaging in manufacturing and subsequent sales of finished products within the emirate must be owned by a UAE national. Formal (nominal) shareholding arrangements are signed with this individual.
5. Stage 5 - Obtaining licenses (manufacturing and/or trade) for the company and registering the company with the Dubai Chamber of Commerce.
6. Stage 6 - Registering the company with the Ministry of Labor and Immigration Services (for visa processing).

To register a manufacturing company, it is also necessary to provide brief technical specifications of the production, such as:

• General overview of the production process, country of origin, product range, and destination of finished products;
• List of equipment, machinery, lines, electrical power consumption at the initial stage and during prolonged usage, as well as data on other resources consumed, such as water, fuel, etc.;
• Components required to launch production, their specifications;
• Packaging, labeling, storage, and distribution methods for finished products;
• Layout of facilities, indicating areas for production workshops, warehouses, offices, rest zones, waste disposal areas, etc.;
• Environmental impact assessment of production processes;
• Temperature regimes and noise levels in production, workshop, warehouse, and other areas.

Thus, overall, to start a manufacturing business in the UAE, one must consider fees from the Economic Department, permissions from the Dubai Municipality, services of a local partner, drafting a business plan based on initial data and parameters, representation in court and other necessary authorities to obtain licenses, opening a bank account, hiring company personnel, obtaining immigration and labor permits, paying for the required number of visas, renting a postal box annually, paying a 5% annual rent fee for production facilities, forming a share capital (approximately 250,000 dirhams - after company registration, it can be fully utilized), reporting, and other procedures that may be required in the process of establishing a company with a manufacturing license.