Every office building has to have a great design which is a combination of strategy and creativity. The growth in business and company setup in Dubai led to an increase for commercial buildings which led to the growth of the interior design industry all around the world. Today this industry is known to be of high value, and for being competitive as well. Dubai is the UAE’s creative hub and it showcases a rich collection of engineering masterpieces which increased the scope of the interior design industry.
According to a GCC or Gulf Cooperation Council report, the interior decoration market in Dubai today is valued at US$9.04bn. It is also expected to grow at 4.42 percent. The Expo 2020 also contributes to the boom in the interior design industry as well as the infrastructure.
There are many advantages to setting up an interior design company in the UAE:
- Dubai is an open economy.
- It has work-friendly infrastructure.
- It has negligible tax.
- It enjoys an increased demand for commercial and resident buildings.
- It is a great place for start-ups to learn branded designers coming from all over the world.
- There is special licensing for designers and artists.
The next element to consider when setting up an interior design business in Dubai is the location. There are two options available: the Dubai design district free zone and the mainland Dubai.
The Dubai Design District or D3 was built to inspire and encourage the interior design creatives. Offerings and incentives have been offered to these creative individuals in the field of interior design. In D3, you can set up any of the following: freelancing, foreign company, and the free zone limited liability company or LLC.
The Free Zone company setup consists numerous procedures. The following are the steps to take when setting up a company in D3:
Apply for Initial Approval
This entails contacting the Business Development Team at the free zone and submit the application for initial approval. At this stage, it is necessary to submit all the relevant documents which will be reviewed by the designated authorities. These are the required documents:
- Detailed business plan,
- Trade license copy or the incorporation certificate copy,
- Application for license,
- Original No Objection Certificate for the company,
- Passport copies of directors, shareholders, and managers.
Registering the Company
It is necessary to decide on the location of the business in the D3 free zone. The documents will be checked, and a Customer Confirmation Letter will be issued which pertains to the leasing of the office space. These are the required documents:
- RIC form,
- Application form for company registration,
- Post-dated checks,
- Notarized copy of the certificate of incorporation,
- Attested and notarized MOA or memorandum of association.
Signing of Lease, Personnel Sponsorship, and License Collection
Collection of Customer Confirmation Letter and Payment of Fee
Another location to set up an interior design business in Dubai is in the mainland. In this business location, you can do business anywhere around the UAE. The following are the steps to starting an interior design company in mainland Dubai:
- You have to appoint a local sponsor or agent.
- You have to apply for a professional license at the Department of Economic Development.
- You have to secure an approval from the Dubai Municipality.
- Have your trade name reserved.
- You need to choose a particular office space.
- You also need to acquire a tenancy contract.
- Submit the company information.
- Collect the business license from the authorities.
Today is the best time to invest in an interior design in Dubai. You can seek for professional advice from a reliable business consultancy firm like HBS Dubai.