Facility Management business setup in the UAE
Facility Management business setup in the UAE. Dubai is home to some of the most imposing skylines and ambitious construction projects on the planet. Beneath those imposing skylines and headline projects is a vast array of commercial and residential buildings – with new ones popping up seemingly every week.
This backdrop makes Dubai one of the best locations to see success in the Facility Management business setup in the UAE – further evidenced by the prediction that the UAE’s total facilities management industry is expected to be worth a fantastic USD 6.6bn by 2022.
Naturally, such a robust market presents opportunities for those within Dubai and therefore the UAE with the talents and drive to ascertain success. If that’s you, here’s your guide to starting a facilities management company in Dubai.Facility Management business setup in the UAE
RULES AND REGULATION for Facility Management business setup in the UAE
Over recent years, the government of the UAE has been working on strengthening the different laws related to business operations. These laws are to ensure the safety of the service providers and also the customers.
The government has been tightening the laws to eliminate loopholes in the business operating regulations. Facility Management business setup in the UAE
For example, a restaurant must acquire a food license before it can start operating within the market. These restaurants also need to go through routine checks which determine whether the health and safety standards, set by the appropriate departments, are met. This is to ensure the quality of food provided to the customers is safe and healthy
In the year 2010, it was announced that the Real Estate Regulatory Agency, RERA, will be setting up new rules and regulations according to which the Facility Management (FM) organizations will be graded. This meant that the facility management companies would be reviewed for their expertise. After which it would be decided whether the Facility Management business setup in the UAE company met the requirements to continue providing all of their services. Furthermore, this classification was to make a decision in which companies were allowed to supply facility management services to specific properties.
- In order to maintain the professional standards, the UAE Facility Management Association, MEMFA, stated that facility management companies and facility management professionals will be provided with separate kinds of licenses. This is because small scale service providers may not be able to handle large-scale projects. Any minute mistake can cause fines for the service provider which can cause the business setup in UAE to suffer.
- Providing appropriate kinds of licenses will help determine which services are better provided by the companies. The companies can then work on upgrading and strengthening their best qualities.
- The three main issues identified for the power management companies were sustainability, costs transparency. However, work has been done to eradicate these issues. For example, a member of MEFMA stated that the association has been working so as to extend the lifespan of buildings by 10- years from the present 30 years.
These rules and regulations are to assist provide a far better environment for the power management companies within the industry. The upgraded framework, facility management companies are required to follow, will allow them to concentrate more on their good traits and therefore, grow smoothly and make use of the business opportunities in UAE.
Obtaining the acceptable quite license is extremely important for a replacement business set up in Dubai. The license not only grants permission to supply specific services, but it also helps give the business setup in UAE a knowledgeable facility Management business setup in the UAE appearance. This appearance creates a trustworthy aura for the business, which appeals to the clients and creates more business opportunities in the UAE.
However, obtaining these facility Management business setup in the UAE licenses is difficult for people who are new business owners. In order to register their business setup in Dubai for the license, there are several procedures a business has got to undergo. Professional business consultants like BCM Corporate Services LLC that make license registrations for brand spanking new facility Management business setup in the UAE business owners a simple task. They also help in visa processing and bank account opening
How to open a facility management company in the UAE
The first steps to starting your facilities management company in Dubai are relatively straightforward providing you are armed with the right knowhow.
The first step is to decide on your company name. This is a little more complex here in Dubai as you’ll need to keep in mind that the UAE has a set of somewhat idiosyncratic naming conventions.
As a guide: Your name shouldn’t include any offensive or blasphemous language or make regard to known organizations and corporations.
If you are going to include your personal name in your business name, it must be in full – no abbreviations or initials. You must also make sure your chosen business name is out there to be registered. A company formation expert can do that for you as a part of the license application process.
You also need to decide early on whether you wish to set up in a free zone or in the Dubai mainland. If you determine your business within the mainland, you’re liberal to trade directly with the local market, without using the services of an area agent. You can also bid for government contracts – which can be lucrative in the field of facilities management.
On the other hand, if you set up in a free zone, you can take advantage of a 100% exemption from customs tax. UAE free zone business owners also have full freedom to repatriate all invested capital and profits. There also are no exchange controls and currency restrictions.
Applying for your Facility Management business setup in the UAE
There are a couple of stages to becoming a fully-fledged facility management company in Dubai. The first is to apply for your trade license.
If you’re fixing during a free port, you ought to make your license application to the relevant managing authority. If you have opted for the mainland then you can apply to the Dubai Department of Economic Development.
In both cases, the application process follows the same basic steps. Whether making your application yourself or through a corporation formation agent, you’re usually only required to supply a couple of details and a few standard documentation, including:
Completed application for Facility Management business setup in the UAE
Passport copy of the proposed owner or owners
Two-color passport size photos
You should also apply for your visas at this stage, including those of your employees and any domestic staff or family members that you wish to sponsor. The final step is applying for a corporate bank account. A company formation specialist can handle all applications for you, liaising with relevant authorities on your behalf.
Following a pilot scheme, your facilities management company may also need to be graded by the Real Estate Regulatory Agency (RERA). The grading will give an indication of the company’s specialization and level of expertise. Only companies of a certain grading can take on certain projects. For example, only a large company with expertise in buildings over a certain size could pitch for the facilities management contract of Burj Khalifa.
Contact us for Facility Management business setup in the UAE:
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