Sole Proprietorship
Home Âŧ Sole Proprietorship
With unlimited opportunities booming, an ideal situation has risen for many professionals to exercise their expertise. The Dubai Economic Department (DED) has the option for such professionals to start a company of their own in Mainland setup in Dubai, under Sole proprietorship. In this formation of Sole Proprietorship company, a professional can run this mainland company as single owner with 100 % ownership to his/her business with help of a local service Agent.
Advantages of Sole proprietorship
- Low startup costs
- Start their company with single shareholder
- Foreign nationals can acquire 100% ownership
- Be able to legitimately practice their professional service anywhere in UAE
- No paid- up capital requirement
- Open a corporate bank account


Going for Sole proprietorship â Lookout
While going for Sole proprietorship or registering yourself as a sole trader is attractive for entrepreneurs, there are these following points to be kept in mind while opening a sole proprietorship in Dubai.
- The comprehensive responsibility of the entity and its associated financial liabilities
- To locate a trusted local service agent, in case of foreign nationals
- An educational Qualification to support the activity chosen for entity
- The Company should be named in accordance with the activity selected
- Constraint on the number of Managers to be appointed
Initiating your registration for Sole proprietorship
- Settle on for a trade name in line with your professional activity
- Have the preliminary approval from the Dubai Economic Department
- Submit the following documents along with the application business application form
- Share holder passport copy and residence Visa permit
- NOC from current Visa sponsor
- Details of Local Service Agent, in case of foreign nationals
- Proof of educational qualification or professional practice.
- General Manager passport copy
- Payment of the license fee
At FirstStep one can, be confident enough to entrust their sole proprietorship setups for a smoother course throughout. With our team who has extensive knowledge in documentation and the legal formalities, one can be free of the anxiety of the documentation of filing the application forms and approvals. We will work along with the legal entities and other professionals to start up and expedite your business.
Packages
Mainland Offers
Professional license / Instant License
Mainland Offers