What Documents Are Required?
- Passport Copy of All Buyers.
- Board of Resolution.
- Certificate of Incorporation.
- Signee Authority Letter.
- Memorandum of Association.
- Signatory Passport Copy.
- An overseas company must get all of the above attested in the UAE. Allsopp & Allsopp Commercial can assist with this through their in-house conveyance team.
Selecting The Right Location
Location of the premises is a key thing for any business; Allsopp & Allsopp have commercial premises in all locations whether you are looking for an office space around Sheikh Zayed Road, Jumeirah Lake Towers, Dubai Marina etc. Warehouses, Factories, Storage or Labor Camps in industrial areas such as Al Quoz, Jebel Ali or Dubai Investment Park. Whatever commercial premises you require, Allsopp & Allsopp can assist. Location of your premises depends on the business activity, which is outlined by the Dubai Municipality – again Allsopp & Allsopp will help you with these fact-finding operations.
Getting finance for commercial purchases is now possible again with many local lenders. Mortgages are available on 10–25 year terms, rates varying on many factors that Allsopp & Allsopp's in house finance team can assist you with. Providing your business has the right credentials and satisfies simple requirements, a large number of commercial locations across Dubai are now open to finance terms for new and existing businesses.
When applying for a license the business requires an owned or rented commercial property. The type of license required is determined by the category / categories Commercial, Industrial and /or Professional) and the activity / activities practiced by the business. Each license can have a maximum of 10 activities. The activities practiced on the license will then determine the location in which the commercial property can be chosen (determined by the Dubai Municipality)
Government Charges / Taxes
At present there are no taxes imposed by the Government when purchasing a property. Upon the successful purchase of the property, and at the exchange of ownership at the Dubai Land Department, the buyer will pay 1.5% based on the purchase price. If the purchase is financed, other could also be subject to your mortgage lender.
Set Up Fees
The exact amount of setting up a commercial license depends on a number of factors: location and type of license, trade license name (English name is more expensive) the number of activities on the license and the rent agreement cost.
Facilities to Consider
When choosing your perfect premises, it is always a must to take into account the facilities provided by the development or in the surrounding area: parking, shops, restaurants, security and access control, business center services (if applicable) IT and telecommunication systems. Allsopp & Allsopp commercial will be able to advise you on required facilities that match your business requirements and can offer additional services to support your needs.