Starting a facilities management company in Dubai is an attractive business option due to the city’s rapid growth and world-class infrastructure. With numerous skyscrapers and a diverse expat population, there is a constant demand for quality maintenance services. If you’re wondering how to start a facility management company in Dubai, this blog will provide insights into the services offered by FM companies and guide you through the process.
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What is a Facilities Management Company in Dubai?
Any company that is handling a huge workforce that is spread around various projects at the same time will require support from a facilities management company. Even smaller companies outsource this responsibility instead of maintaining an in-house facilities management team.
To clarify, a facilities management company in Dubai provides maintenance, security, housekeeping, hospitality, property, and waste management services. As maintenance is not required all the time, it is a loss for companies to have a permanent workforce on the payroll just for maintenance. This is where facilities management companies in Dubai come in.
Why start a Facility management company in Dubai, UAE
Starting a Facility Management company in Dubai, UAE is a lucrative opportunity due to the city’s impressive skyline filled with stunning skyscrapers, luxury hotels, resorts, entertainment venues, and a variety of commercial, industrial, and residential buildings. The continuous construction projects in the United Arab Emirates offer substantial potential and high demand for facility management services. This makes it an ideal moment to establish your own business in the thriving facilities management sector in the UAE.
Steps to Start a Facilities Management Company in Dubai
The process of setting up a facilities management company in Dubai is straightforward. However, if this is your first time starting or set up a company in Dubai, then you might feel a bit lost. This is because, English is not the first language of the people here, and most foreigners are intimidated by the new culture here.
Here are the steps you need to follow in order to start a facilities management company in Dubai:
1. Choose an Economic Jurisdiction
The first step is to choose an economic jurisdiction for your company. There are two economic jurisdictions that you can choose from for your facilities management company in Dubai Mainland or Free Zone. The first one is the mainland, and the second is the free zones you can find all across Dubai.
2. Register a Company Name
You need to register a name for your facilities management company in Dubai. However, keep in mind that you need to follow the guidelines set by the government. Additionally, you need to select a name that does not already exist in the UAE.
3. Get the Initial Approval
After you have made the required decisions for your company, it is time to get the initial approval from the Department of Economic Development in Dubai. To do this, you need to fill up an application form with all the necessary details about you and your company.
4. Obtain an Office Space
After you have obtained the initial approval, you need to obtain office space for your facilities management company in Dubai. You can either lease a space or rent one. Additionally, there are various types of office spaces to choose from including virtual offices.
5. Get the Trade License
After getting the required external approvals from the relevant authorities, you can get the trade license from the Department of Economic Development in Dubai. The last step is to submit the required documents and fees for the license.
6. Complete Visa Procedures
After obtaining the business trade license, you can get your visa. Additionally, you can sponsor the visas of your close relatives and some of your foreign employees. However, the number of visas you can sponsor will be decided by the size of your office space.
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7. Open a Corporate Bank Account
You need to open a corporate bank account for your facilities management company in Dubai. However, always take your time to research the financial institutions and carefully go through the contracts before signing anything.
8. Complete the Grading Process
One additional step that is mandatory for any facilities management company in Dubai is to get graded by the Real Estate Regulatory Authority (RERA). They will grade your company by checking your specialization and expertise.
Documents Required to Start a Facilities Management Company
- Filled application form
- Passport copies (owner and partners)
- Local partners: Copy of Jinsiya (local ID)
- If partners are international and on work visas, a No Objection Certificate
- If partners on visit visas, UID number needed
- Primary approval from relevant authority for your business operation
- Ejari registration, rental contract, and name registration certificate
Benefits of Setting Up a Facilities Management Company in Dubai
There are various benefits of setting up a facilities management company in Dubai. Additionally, there are a lot of benefits of starting a business in Dubai itself. This is because of their long-term plan to change the economic focus of the country from the oil and gas industry.
As a result, they are providing various incentives to people from anywhere in the world to start their businesses here. These benefits combined with the market condition are the reason why you should set up a facilities management company in Dubai.
Here are the benefits of starting a facilities management company in Dubai:
• An Abundance of Multinational Companies
One of the main reasons that facilities management company in Dubai do so well is because of the many multinational companies in the city. This means that if you get a good grade from the RERA, then you will not lack for clients and projects.
• Opportunity to Expand
A facilities management company in Dubai can easily expand to other parts of the UAE if it provides respectable services. This is because there are opportunities in all of the Emirates and the services provided by facilities management companies are required everywhere.
• Tax Exemptions
One of the inherent benefits of starting a business in Dubai is that there are no personal taxes here. This means that you do not need to pay any taxes for drawings made by your company. Additionally, your employees do not need to pay taxes for the wages you pay.
• Availability of Sole Proprietorship
Recently, the government made some changes to the rules and regulations concerning foreign ownership in the country. As a result, foreigners can have 100% ownership of companies on the mainland that are not strategically important to the UAE.
How can Company Setup Consultants help you?
If you want to start a facilities management company in Dubai but you do not know where to get started, then you are in the right place. This is because Company Setup Consultants have started various companies all over the UAE for entrepreneurs and investors from all over the world. So, contact us today and hit the ground running.
For further information and assistance on how to to Start a Facilities Management Company in Dubai, UAE. To Speak with our Experienced Business Consultants for further information and assistance, call us at +971582595164. Send a WhatsApp Message for Chat Query on +971 582595164 or email us at info@companysetup.ae.