Companies in JLT Dubai
If you are seeking to set up a company in UAE, in particular Dubai, then one of the best areas to do so is Jumeirah Lake Towers also known as JLT. It comprised clusters of buildings starting from A - Y. They comprise of both residential and commercial buildings making it a great place to run your business not to mention a nice location to live with numerous recreational areas such as parks, lake, pavements to walk by, outdoor gyms as well as convenience stores and close proximity to Dubai metro that connects the whole city.
Before I get ahead of myself I need to explain how people come to live and open companies in JLT Dubai. There are 2 main methods to do this which are either setting up your company in Dubai multi commodities center free zone (DMCC) or as a Mainland company.
I shall start with the first method that is, setting up a company in DMCC free zone. This can be done by contacting a business setup consultant in UAE. Local Consultancy DMCC is one of them. They will advise you which activity and what package to take and take care of all the documentation.
All that is required of you is to visit the UAE one time to sign the company setup documents and pay the fees. This takes about a week and thereafter you shall get a license that will allow you to run your business by renting an office/ retail space to run your business in JLT Dubai. The best part is, you are the 100% owner of your company as that is how free zones work in UAE.
Since DMCC is a free zone that actually governs the JLT area as a whole and is located inside JLT itself you will find much ease to work in such close proximity in case you may need to do any kind of changes/management in your company. DMCC authority is located in the Almas Tower in the heart of JLT.
The second way is by setting up a Mainland company. Mainland trading companies need to have a UAE citizen owning 51% of the company shares while you own the other 49%. Not to worry. if you are not really sure about the idea of giving your company shares to someone else, you can make an agreement with the local in the UAE court stating that he/she will only be a shareholder for regulation purposes and for all other purposes like funds and running the business you will be solely in charge. Once that is done, again, I recommend using a consulting company as they know the ropes when it comes to company incorporation in the Mainland.
The license is obtained in a day or two with the physical presence of both you and the UAE national. Once you have it, you may then approach real estate people in search of office or retail rental space. JLT area, being a free zone one, will not work, because Mainland companies have to rent offices outside of the free zones.
There are a lot of areas near JLT where a Mainland company will be entitled to rent an office - Dubai Marina, Discovery Gardens, Springs. Office rent normally takes a few days to finalize.
So far these are the two popular and rather known ways to start setting up companies in JLT Dubai or around it. Like I said, if you wish to also live in JLT once your company is up and running, then all you have to do is contact the real estate company to help you find a suitable apartment for you.
It is important to know that all companies in JLT Dubai have to be renewed annually in order to maintain your company as licenses are only valid for a year and each year once renewed, a new license is issued.
I hope this will help your business endeavours good luck!