Dubai provides interior designing professionals with ample opportunities and a favourable environment to establish a profitable business. The ever increasing demand for commercial and residential spaces makes the prospect of business setup in Dubai mainland attractive for interior designers. Qualified professionals can obtain an interior designing license in Dubai from the Department of Economic Development (DED) after securing approvals from relevant government departments.
The struggle for securing the license and approvals can be minimised with the assistance of business setup consultants in Dubai. In the meantime, this article will serve as an essential guideline for entrepreneurs seeking to initiate company formation in Dubai. Read ahead to know the opportunities, requirements and procedures of setting up an interior designing company in Dubai mainland.
Business Opportunities in Interior Designing Services Sector
The construction industry is the prime sector that drives the growth of the interior designing services sector in the UAE. Though the industry suffered a short-term setback in 2020 owing to the COVID-19 pandemic, the future looks bright. A new report by Research And Markets states that the UAE construction industry will bounce back in 2021 with an expected 3.1 % growth.
Related: EXPO 2020 Dubai: Which Sectors Will Receive Economic Boost?
The population of Dubai has a penchant for luxury homes and innovative office spaces that drives the demand for interior designing services. The construction sector is abuzz with the building of new commercial and residential properties, which is positive for interior designers. The EXPO 2020 is another major factor that boosts the hopes of interior designing professionals aiming for business setup in Dubai. The assistance of business setup consultants in Dubai would come in handy for easing the company formation procedure.
Process of Setting up An Interior Designing Business in Dubai
Interior designing professionals need to apply for a DED professional license to set up their company in Dubai. The step-by-step process of company formation in Dubai mainland is given below:
a) Apply for a Professional License
Setting up an interior designing company requires you to appoint a Local Service Agent (LSA) as the activity falls under a professional license. An LSA (a UAE national) will only charge a fee for the administrative service he or she offers, such as liaising with government departments. By signing an agreement with the LSA, the foreign investor is entitled to 100% ownership in Dubai Mainland Company.
b) Reserve a Trade Name
Entrepreneurs should prepare a list of three to four names for the company and submit it to the DED. The company name should not violate the trade name norms set out by the UAE authorities. Business names that are offensive, derogatory, vulgar or hurting religious sentiments would be rejected. Company formation specialists in Dubai can assist you in ensuring your company name is in compliance with the laws.
c) Get Initial Approval from DED
The entrepreneurs need to apply for initial approval from the DED to move ahead with the process of company formation in Dubai. The DED will review the application and the accompanying documents to determine if the proposal is viable. If the department has no objection to your business project, then it will issue an initial approval certificate. Company setup consultants in Dubai will make sure that you get the initial approval quickly.
d) Obtain External Approvals
The DED demands approval from ministries or government departments if the business activity is categorised as a special activity. Special activities are those activities that involve an element of risk. Business activities in legal, oil, audit, banking, accounting, financial services, healthcare, architecture, engineering etc., fields are considered as special activities due to the risk factors involved. Since architecture is a part of interior designing, the entrepreneurs must secure external approval from Dubai Municipality.
e) Rent an Office Space
Once the initial approval and external approvals are secured, the entrepreneurs need to rent office space for the company. The DED mandates that every company established in Dubai mainland should have a physical address, and therefore office space is inevitable. The DED doesn’t allow virtual office spaces for company incorporation in Dubai.
The entrepreneurs must sign a tenancy contract with the landlord and get it registered with Ejari for attestation. The business owners can rent a co-working space in any of the business centres in Dubai, which is considered the most cost-efficient option. Entrepreneurs who need assistance with getting the Ejari and office space can consult with business setup advisers in Dubai.
f) Collect the License
Once the office space is secured, the investors need to submit all the documents, including initial approval receipt, copy of leasing contract attested by Real Estate Regulatory Agency (RERA) in Dubai, duly attested LSA agreement, etc., to the DED. After submitting the documents and the government fee, the DED will issue the license upon verification of the application.
Consult with the Best Business Setup Consultants in Dubai
Setting up an interior designing company in Dubai mainland is a lucrative business opportunity given the demand from the construction industry and EXPO 2020. Since it is a professional business, foreign investors can have total ownership benefits by appointing an LSA. However, new entrepreneurs need to be aware of the complications associated with business setup in Dubai to quickly secure a trade license.
This is where services of experienced business setup consultants in Dubai, UAE such as Jitendra Business Consultants (JBC), becomes inevitable for foreign investors. JBC’s highly qualified company formation specialist help the investors minimise the intricacies of company formation in Dubai. JBC provides robust advice on obtaining the license, choosing the business activities, renting an office space in Dubai and processing the visas. JBC’s robust solutions for a low-cost business setup in Dubai allows interior designing professionals to achieve their business goals without any hassle.