When you think of Dubai and the dizzying speed of growth that the city has witnessed over the past 50 years, the rise in demand for companies that specialize in maintaining skyscrapers, business parks, and entertainment facilities becomes obvious.
Facilities management involves the operational aspects of a building and the functioning of its equipment. The demand for facilities management is only expected to grow with time as Dubai continues its growth trajectory and contributes to the expansion of the UAE’s economy.
As per the recent Facility Management Market Research Report of the UAE, by 2030, the facility management market will increase to 39,680 million USD in the UAE.
Given this unprecedented growth, entrepreneurs are looking to tap into Dubai’s market by setting up a facilities management company. If you are one of them, this article lays out the steps you must follow to set up your business. Read on to find out more.
How to start a facilities management company in Dubai?
The Dubai Economic and Tourism (DET) is the authority to issue trade licences for companies. So, before planning your company, you should know the business activities under the DED list.
So, if you are planning to set up a facilities management company in Dubai, you must understand the key steps:
Choose Business Activity & Company Name: The initial step is to decide the facility management activities your company wants to do under the licence. The facility management business activities include fire safety, plumbing, elevator maintenance, renovation work, carpentry, and any tasks such as cleaning and maintenance, pest control, or maintaining the building’s security.
You can choose the right business activity that perfectly aligns with your business plan by browsing through the list of activities on the DED website. Make sure that the business activities are compliant to avoid fines or cancellation.
The DED has strict rules for the trade names of companies. So, when choosing a business name, it should not be already registered by another company or shouldn’t refer to existing organizations.
You can check with our experts to learn more about the trade name guidelines. After registering your trade name, you will get initial approval from the government permitting you to run your business.
Choose Business Jurisdictions/Zone: After selecting the company name and activity, choose a jurisdiction or zone to establish your business.
You can start a Facilities Management company in the Mainland Zone, depending on the business requirements.
Choose an appropriate location that complies with the requirements of your business activities.
Ejari Preparation: When you select the office or warehouse location, you must register with ejari. Ejari will be issued through the RERA portal after submitting your initial business approval copy, passport copy, visa, or Emirates ID.
Get a Professional/Service Licence: The next important step in setting up a facilities management company in Dubai is to get a professional licence for the services.
The type of licence that would apply to you would depend on the activities you intend to conduct through your business.
Here is a checklist you need to have for registering your license:
-The Memorandum of Association (MoA) attestation
-Paying various fees as applicable (this includes the licence fee; Department of Economy and Tourism fee; yearly setup fees; and the like)
As the pace of current development increases over time, facilities management will become a profitable business in the Dubai economy.
How can Ascent Partners help?
Ascent Partners provides bespoke business setup and advisory services for entrepreneurs looking to set up their next venture in Dubai. With services ranging from business consultation and bank account opening to choosing the right business activity and applying for a business licence, our experts help provide essential guidance to help you strategise, startup, and scale in Dubai.
For more details, get in touch with us today at email@example.com or 04 422 7339.