Any good business owner wants to grow and expand their company. But, with growth comes change. However, if too many changes are made, your company won’t be compliant under the VAT rules in the UAE any longer. You have to make sure you keep up with all the rules and regulations in Dubai to keep your business successful and legal. But don’t worry! If you need to make changes to your business, it’s a simple fix! Keep reading to find out how you can add or change business activities in Dubai and how MSZ Consultancy can help make it even easier.
What Steps Do I Need to Take to Add a New Business Activity?
The Department of Economic Development (DED) makes it simple to add or change business activities. When adding or changing an activity, the activities must match the ones that you are already doing. If the new activity is completely different, then you will have to remove existing activities. You may also need to get additional approvals from authorities depending on the business activity. It’s easier than it seems, we promise!
Here’s a look at all the steps it takes to add or remove a business:
- As we mentioned, you’ll have to first get approval from the DED.
- You will need to complete the BR1 form by getting the Managing Director to sign. The Partners will not have to sign, but their names must be typed out on the form.
- Submit the BR1 form to the DED.
- The DED officer will write a No-Objection Certificate (NOC) for adding activity.
- An Addendum must be written in the LLC Agreement by a legal translator. If the agreement is in Arabic, then the legal translators seal is not needed.
- The Addendum will need to be attested from Notary Public at DED.
- All company partners will have to appear in front of a notary to sign the Court Agreement. If the partners are out of the country and not able to attend, they can send a Power of Attorney (POA) to authorize other partners in the business to represent them in court.
- The required documents will need to be submitted to the DED along with an attested Addendum.
- Pay the DED the required fees.
- Get license with the new activity.
What Paperwork Do I Need to Change or Add a Business Activity?
The process to add or change a business activity requires a lot of paperwork. You will get this paperwork together and submit it to the DED.
Here’s a list of what you’ll need for initial approval:
- Proof of reserved trade name
- Registration and licensing application for new business activity
- Original Certificate of registration
- Original trade license Dubai
- Approval from the Ministry of Economy
- Resolution of Company’s Board of Directors
- Approval from government authorities
- Copy of lease
After approval, you will need to submit these documents along with the updated Memorandum of Association that shows the business activity addition. You will also need to change the Contract of the Service Agent if needed.
Why You Need to Do Business in Dubai
Dubai is one of the most influential cities in the world and one of the best places for business. If you’re an entrepreneur looking to setup your company in a successful environment, then the United Arab Emirates is the place for you!
Here are some of the reasons that company formation in Dubai is so popular:
- World-class infrastructure
- Strategic location that brings global trading opportunities
- Tax-free environment
- Full repatriation of profits
- Easy visa policies
- Safe place to live and do business
- Easy access to seaports and airports
- Quick and simple procedure for trade license in Dubai
- Multinational companies
- Skilled workforce
- Free Zone business locations
MSZ Consultancy is Here for You!
MSZ Consultancy is your expert business setup consultant in Dubai. We are familiar with all aspects of business setup in Dubai and provide the legal and financial advice you need to have a successful company formation. If you need help with changing or adding a business activity, we can help with that too! Our experts at MSZ Consultancy are here to guide you through the entire process step-by-step. We have the best PRO services in Dubai, so we even assist in all the time-consuming paperwork, so you don’t have to. Simply put, we make it easy!
At MSZ Consultancy, we offer the best quality services in the industry that are tailored to fit your exact needs. We are easily approachable too, so just reach out to us for help! You can call us at +971 52 544 1248. Don’t wait! Call us today for a FREE Consultation.