Post-Incorporation Checklist: What to Do After Setting Up Your Dubai Company

Opening a corporate bank account is the single most time-sensitive post-incorporation task. Banks in the UAE conduct thorough due diligence on new corporate account applications, and the process typically takes 3 to 6 weeks — sometimes longer for businesses in higher-risk sectors or with complex ownership structures. Key steps for banking: - Select the right bank based on your business activities, transaction needs, and relationship expectations - Prepare a comprehensive KYC package including passport copies, Emirates ID, trade licence, Memorandum of Association, source of funds explanation, and a business plan - Attend the bank's in-person due diligence meeting (typically required for new accounts) - Be prepared to answer questions about your business model, expected transaction volumes, and counterparty countries Do not wait until your residency visa is complete before starting the banking process. Most banks allow the account application to proceed with the trade licence and passport alone, with the Emirates ID provided after issuance. We provide dedicated banking introduction services, preparing your documentation package and managing the process with pre-approved banking contacts.

If you or your team members are relocating to or residing in Dubai, UAE residence visas must be processed as a near-immediate priority after trade licence issuance. The residence visa process involves: 1. Entry permit: Apply for an entry permit (if not already in the UAE on another visa) or change of status (if already in the UAE) 2. Medical fitness test: Complete a medical examination at a DHA-approved health centre, including blood tests and a chest X-ray 3. Emirates ID registration: Biometric registration at an ICP centre to issue the Emirates ID card 4. Visa stamping: Visa stamp applied to the passport, confirming legal residency status The full process takes approximately 2 to 4 weeks when completed without delays. Health insurance must be in place before or at the time of visa issuance — Dubai law requires all visa holders to hold valid health insurance throughout their residency. For companies with multiple investor or employee visas to process, we manage all visa applications simultaneously to minimise delays.

All UAE entities — whether mainland or free zone — must register for UAE Corporate Tax with the Federal Tax Authority (FTA) within a specified deadline from the company's incorporation date or from the start of its first tax period. Key corporate tax facts: - UAE Corporate Tax was introduced with effect from June 2023 at a 9% rate on taxable income above AED 375,000 - Small Business Relief is available for businesses with revenue below a specified threshold, effectively deferring or eliminating tax liability for qualifying small companies - Free zone companies may qualify for a 0% rate on qualifying income under the Qualifying Free Zone Person (QFZP) framework, subject to meeting substance requirements - Corporate tax registration is mandatory for all entities regardless of whether tax is currently payable - Late registration carries financial penalties Registration is completed through the FTA's EmaraTax portal. We provide corporate tax registration services and advise on the applicability of Small Business Relief and QFZP status to your specific situation.

VAT (Value Added Tax) registration with the Federal Tax Authority is mandatory for UAE businesses whose taxable supplies and imports exceed AED 375,000 per year. Voluntary registration is available for businesses exceeding AED 187,500. VAT-registered businesses must: - Charge 5% VAT on standard-rated supplies and services delivered in the UAE - File quarterly VAT returns with the FTA (or monthly, depending on turnover) - Issue tax-compliant invoices containing the business's TRN (Tax Registration Number) - Maintain accounting records sufficient to support VAT return submissions Certain activities are zero-rated (including most exports, international services, and investment-grade precious metals) or exempt (including residential rental and specific financial services). We advise on VAT registration timing, applicable rates, and accounting setup.

Beyond banking, visas, and tax registration, the following steps must be completed to make your Dubai company fully operational: Accounting and Bookkeeping Setup: Establish compliant accounting records from day one. UAE Corporate Tax law requires financial statements to be maintained in accordance with applicable accounting standards. All transactions should be recorded from the company's first operational day. Establishment Card (Mainland Companies): DED mainland companies must obtain an Establishment Card from the Ministry of Human Resources and Emiratisation (MOHRE). This card is required for employee visa applications and labour market registrations. WPS (Wages Protection System) Registration: Companies employing staff must register for WPS, the UAE's electronic salary transfer system operated by the Central Bank. Salaries must be paid through WPS-compliant bank transfers. Non-compliance carries penalties and may result in the company being barred from new visa applications. Health Insurance: UAE law requires all employees and visa-sponsored dependants to hold valid health insurance. Dubai employees must have HAAD or DHA-compliant insurance. Employers are responsible for providing health insurance to their employees. Mainland Signage: DED mainland companies are required to display the company name and trade licence number prominently at their registered office. Signage must comply with DED specifications. Free Zone Annual Audit (Where Required): If your free zone mandates annual audited financial statements (as DMCC does), engage an approved auditor promptly after company formation to begin maintaining audit-ready records from day one. AML/CFT Programme (If Applicable): Businesses classified as designated non-financial businesses and professions (DNFBPs) — including real estate brokers, gold traders, lawyers, and accountants — must implement a written AML/CFT compliance programme and register with the UAE's goAML platform.