A sole proprietorship is a professional business entity whereby an individual trades for his own account pursuant to a trade license issued in his own name. Foreigners may form sole proprietorship subject to fulfillment of conditions and for certain activities. This kind of license is issued to certain services like medical practitioners, engineers and lawyers. All foreign proprietors must appoint a UAE national as his service agent. A sole proprietor can appoint one manager as per the Department of Economic Development (DED) business regulations. A corporate body cannot own a sole proprietorship.
Benefits of Sole Proprietorship/Establishment:
Documents required for Initial Approval:
Documents required after getting the Initial Approval:
The following are the steps involved in the formation of a Sole Proprietorship Firm:
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Global Business Services DMCC has helped many individuals and corporate entities to set up their businesses in Dubai. Our company acts as a one stop solution for Sole Proprietorship incorporation services.
If you are looking for Sole Proprietorship setup, please get in touch with us for professional assistance.
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.