In the last decade, the building industry in Dubai has seen extraordinary development. When it comes to construction growth, it is now ranked second, and the top place is not far behind. Consequently, if you want to establish a construction company in Dubai, now is an excellent moment to do it. You will also get sufficient assistance from the governing authorities, who will see to it that investors and business hopefuls have the necessary resources and permissions for their building company ventures.
In addition to the growing construction industry, the continuing investment in tourism and travel is reflected in the booming tourist and travel industry. Tourists consider the United Arab Emirates to be one of the world’s most architecturally spectacular nations. Others Emirates are rapidly catching up with Dubai in terms of attractiveness, which has already achieved the pinnacle of perfection. As a result, your construction business in the United Arab Emirates has many possibilities to flourish.
Table of Contents
How does one go about establishing a construction business in the United Arab Emirates?
The procedure of forming a construction business in the United Arab Emirates is time-consuming and includes a lot of paperwork. Furthermore, if you want to operate a full-fledged construction business, you’ll need to get a slew of permits and licences. Here’s how you go about it in a step-by-step manner:
1. Determine the organisational structure and geographic location of the business.
In order to start a construction firm in Dubai, the first thing you must determine is whether to register a mainland company or to create a free zone enterprise. You must create a partnership with a local partner who will own 51 percent of the company’s shares in order to establish a business on the mainland (giving ownership rights). On the other hand, establishing a business in a free zone does not need the ownership of any shares in your firm by any local sponsors. It entitles you to complete control of the corporation. You must weigh all of the advantages and disadvantages of both formats and select the one that is most appropriate for your company.
2. Submit an application for a licence.
Free zones are governed by their own autonomous regulatory agencies. Consequently, if you are seeking for a building permit in the free zone, you must contact the appropriate authorities. If you’re seeking for a licence on the mainland, you’ll need to contact the Department of Economic Development (DED), which is located in Manila. The legal licence required for a construction company falls within the commercial licencing category. Furthermore, diverse company operations need the acquisition of various licences and extra permissions. As a result, make a list of your activities before applying for a licence.
3. Obtaining the necessary construction permits
Once you have obtained a licence for your construction company in Dubai, you will need to apply for a building permit in order to be eligible for different business allowances and incentives. You, on the other hand, are unable to do this on your own. Consequently, you must form a partnership with civil engineers and business experts who will help you in obtaining the necessary permits. In order to get the same, business experts at Generis Global assist you by assuming responsibility for all of the hard work for you.
4. Obtain any additional permits or permissions that may be required.
A construction firm in the United Arab Emirates is required to get extra certifications and permissions in addition to the building permit. In the case of free zone businesses, a G+1 permission is required, while mainland firms may get the same allowance via a construction licence. Other important licences to have are the building maintenance licence, the steel construction contracting licence, and many more specialised licences.
5. Be familiar with your provisions and limits.
Any company institution must adhere to the laws and regulations established by the government of the nation in which it operates. Advanced infrastructure, liberal taxation regulations, and business-friendly policies are all available in the United Arab Emirates to support the country’s working environment. You must, however, be aware of the limits of your construction licence in order to avoid violating any regulations. To operate a hassle-free construction company in Dubai, the business professionals in Dubai can assist you understand what you can do and what you should avoid doing by providing guidance.
6. Take care of visas and establish a business bank account.
For those who are high-end investors, getting an investor visa in Dubai is straightforward. If this is the case, there is no need to be concerned. Visa issuance is governed by clearly defined rules, and all you have to do is adhere to them and submit your visa application to be granted entry. It is possible to acquire visas for family members, domestic workers, and other individuals in accordance with your needs. After everything else is completed, you may establish a business account for your construction firm with the bank that is best appropriate for your operations and transactional requirements.
Opportunities for a construction business in the United Arab Emirates
The building industry in Dubai is one of the most profitable and highest-grossing industries in the world. Numerous towering structures, including the world’s tallest building – Burj al Khalifa – and the world’s highest residential building – Marina 101 – can be found in the area. Princess Tower and Burj al Arab, among other buildings, are among the most impressive landmarks in Dubai. In the GCC area, there is fierce rivalry for skyscrapers, with Dubai coming out on top in all categories.
The government of Dubai is implementing a number of specific development initiatives in order to boost the country’s tourist industry’s growth. Projects such as man-made islands such as the Palm Jumeirah and others such as Deira Island and Maritime City have paved the way for the development of the building industry in Dubai. The United Arab Emirates has launched many initiatives for the development of transportation infrastructure, each with a massive investment budget. Major possibilities for construction firms in the area include, for example, the expansion of Dubai International Airport and the restoration of Abu Dhabi International Airport, both of which are now underway.
Building a construction firm in Dubai may be a lucrative venture regardless of the kind of construction business you are involved in. A large number of such initiatives and possibilities are being developed on a daily basis. If you are successful in seizing these possibilities, a promising future for your construction business will undoubtedly be ahead of you.
The necessary permits to start a construction company in Dubai are outlined below.
Once you have obtained all of the required permits, you must get the following permissions from the appropriate government agencies before you may begin operating a construction company:
Dubai Water and Electricity Authority: permissions from these agencies are needed in order for the business to be able to get the basic facilities it requires.
Drainage and Irrigation Department: This department is responsible for the handling of liquid waste and other disposal services.
The Building Department and the Dubai Civil Defense Authority are in charge of keeping an eye on whether or not the building firm is adhering to the legal construction standards.
Connect with Generis Global
Nothing compares to the satisfaction of being the owner of a business in Dubai. Because of favourable regulations and the existence of strong competition, it is the ideal location to start your dream construction business. Furthermore, with the assistance of Generis Global, starting a business in Dubai isn’t as difficult as it seems. Our legal advisers and consultants offer unrivalled help in the establishment of your construction company in the United Arab Emirates, including: Whether it’s paperwork, leasing space, or extra permissions, we’ll get it done as quickly as possible for you. Furthermore, we provide all of this and more at reasonable rates, always keeping your budget in mind as a top priority.