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Starting a Business While You are Employed in the UAE

By Ananya - 14 Feb 2022 Last Updated: 05 May 2022
Starting a Business While You are Employed in the UAE

Table of Contents 

  1. 1. Business in the UAE
  2. 2. How an Employed Person Can Start a Business in the UAE?
  3. 3. Documentation Required to Obtain the NOC
  4. 4. Conclusion

Dubai has made significant efforts to encourage and support start-ups and SMEs, which provide better products and services, create more jobs, and drive societal innovation. Dubai offers over thirty freezones where foreigners can hold 100 per cent of a firm, making it the most popular place to start a new business. You can start your own business in the region even if you are a full-time employee in a corporation, which is the key highlight of our study as well.

An organisation serves as a stepping stone for employees, whether they are new or seasoned. Employees' hidden potential is unlocked and talents are discovered in the workplace. The everyday activities they participate in assist them in upskilling in all areas and serve as an eye-opener. This strengthens a potential entrepreneur's foundation and assists them in determining the best path to establishing their own national and worldwide business empire. So, if you're a working employee looking to establish your own business in Dubai, you've come to the right place. Setting up a business in Dubai is a fantastic idea. Beginning the process of establishing a company empire requires perseverance, fortitude, and patience.

The UAE guarantees that its workforce is content in their jobs and has a decent work-life balance. To ensure that their personnel is infused with passion and the desire to become productive, Dubai enterprises take an employee-first strategy. Many employees, on the other hand, wish to start a business while working full-time in order to pursue a lawful side hustle. To do so, simply receive a NOC (no objection certificate) from your employer and apply for a trade licence through your visa. However, It's important to remember that your company has the last say on whether or not to accept or reject your NOC application. Several free zones in the UAE don't require you to obtain a NOC in order to start a business while still working legally in Dubai.

Business in the UAE

Dubai, one of the most lively cities on the planet, has perfected the art of business development and has effectively established itself with a diverse range of alternatives ranging from work opportunities to company formation. It is ranked 21st in terms of ease of doing business. The city also has a number of trade-free zones, which encourages working people to think about starting their own business. It's a fantastic platform for both startups and established businesses, and it inspires the working class to launch their own dream company.

Read More :-Do You Need a UAE Citizen to Setup Service Companies in UAE Mainland?

How an Employed Person Can Start a Business in the UAE?

To begin, one should be aware that the United Arab Emirates has positioned itself as an investment magnet as a result of its trade free zones, which allow foreign nationals to build their own businesses. At least one national member is required for any company. More than 30 free zones have been established in the UAE, boosting the economy and transforming it into an investment centre. The most important step for working professionals who want to start their own firm is to get a No Objection Certificate (NOC) from their existing employer. That turns out to be a difficult procedure. The majority of businesses do not allow their staff to possess a NOC.

While working in the Emirates, it is suggested that you register for an instant licence to start a business. Here are the procedures to take.

  • You can get an instant licence by going to a DED counter. If you want to apply on your own, you'll need to get a UAE pass. You must first register on the official website using your Emirates ID. After that, you must edit your business profile on the DED's website. This is a crucial step in ensuring that the UAE government is aware of your legal status.
  • After that, you must create an account on the DED's website by entering the essential information.
  • Then, on the DED website, follow the step-by-step instructions to get your immediate licence. You'll need to supply your company's trading name, as well as a list of stakeholders and the business activities you want to pursue.
  • After that, you must sign the electronic MoA and submit it for the department's approval. Don't forget to add the specifics of the UAE sponsor with whom you've associated. This can also be done manually.
  • You'll also need to get your company partners' approval. All of your partners will receive an automatic consent notification.
  • The final step is to create your licence payment voucher. Make the necessary payment once the voucher is operational, and you're done.

Documentation Required to Obtain the NOC

The following documentation must be presented to obtain a NOC from the current company:

If one acquires a NOC from the current company, he or she will be able to start a business in any region of the UAE. If this is not the case, there are still free zones that do not require a NOC. So the question isn't whether an employee has a NOC or not. The true question is whether or not one is prepared to take the reins as an investor.

Conclusion

Starting a business in the UAE is a profitable venture for both big as well as small market players. The friendly business environment has further pumped a plethora of investments in the country over the years. The stringent government support has also propelled the investments by employed personnel to start their own ventures in order to promote extra incomes. Dhanguard offers assistance to its clients in business setup services as setting up a business in the country is often a complex task as vast paperwork is necessary for the process. Connect with us, our team of experts can assist you in the process from the start to its end. If you are looking for any business setup services in the UAE, connect with us, we will gladly assist you.

Dhanguard provides the business setup and company formation services in Dubai, UAE with the guidance of our professional team of consultants. Faster and hassle-free company setup in Mainland and Freezone in UAE.

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