Start a Facility Management Company in the UAE: Step by Step
The UAE is home to one of the fastest-growing building sectors in the world. There is high demand across the region for offices, housing, shopping malls and hotels, offering rich pickings for facility management companies.
Consequently, there has never been a better time to bring your expertise to the UAE. This article takes you through the company incorporation process step by step, with essential information in these areas:
Benefits of starting a facility management company in the UAE
New commercial and residential buildings are constantly springing up in the UAE. The rate of growth is so extraordinary that the facilities management industry is due to hit a value of USD 6.6 billion by the end of 2022. Many entrepreneurs have reaped the rewards of this growth, but there is room for ambitious new specialists in the market.
As a UAE facility management company, you will benefit from zero tax, low costs and no foreign exchange controls or currency restrictions. The low setup costs save you money which can then be invested in areas such as marketing, hiring and an eye-catching company website. At the same time, the UAE’s lack of red tape makes everything very straightforward and ensures that you enjoy 100% ownership of your company.
Procedure to get your facility management licence in the UAE
To start a facility management company in the UAE, you need to be aware of the rules regarding business names and the regulations for licence applications. However, the procedure is very straightforward, as long as you are aware of the basic requirements. The application process can be broken down into these five steps:
Step 1: Name the company. Choose a name for your company, along with two alternatives, stating the order of preference. Unlike many parts of the UAE, company names in UAQ Free Trade Zone can include abbreviations or initials. However, various conventions must still be observed.
For example, company names must not include language deemed offensive or blasphemous and should not make reference to other organisations. Your chosen business name must also be available to be registered, which is why you need those two alternatives.
Step 2: Send the documentation. Submit all the required documents, including your formal licence request and the proposed company names.
Step 3: Sign and pay. Once received, sign the incorporation documents and submit the originals to the FTZA. You will need to send the required payment as soon as the documentation has been approved.
Step 4: Apply for visas and accounts. If required, apply for visas, including ones for your employees and any staff or family members you want to sponsor. You will also need a corporate bank account.
Step 5: Wait for your licence to arrive. This is usually a very swift process.
Cost of opening a facility management company in the UAE
Licence packages in UAQFTZ start from just AED 8,000 for a no-visa package and AED 13,500 for a two-visa package. Payment is flexible – for example, you can pay the total AED 8,000 in one lump sum or 12 AED 786 installments, paid each month.
Contact UAQ Free Trade Zone for a personalised quote based on your specific requirements. The process is fast and straightforward, and your company could be incorporated in just one day.
Documents needed to start a facility management company in the UAE
Obtaining your facility management licence in the UAE is simplicity itself, and the red tape and documentation are kept to a minimum. To apply, you will need the following:
Why choose UAQFTZ?
When you set up your facility management business in UAQFTZ, you benefit from the UAE’s business-friendly approach and Umm Al Quwain’s super-modern infrastructure and low costs. There’s also a seaport here, and Dubai International and Sharjah International Airports are close by.
As a UAE facility management company, you will be boosted immensely by UAQFTZ’s low costs, zero tax, 100% company ownership, repatriation of all capital and profits, and no foreign exchange controls or currency restrictions. You won’t need bank letters, capital proof documents, NOC or audit reports when you set up a UAQ Free Trade Zone company. You don’t even have to be physically present when setting up the company and applying for the facility management licence, and there’s no charge for your establishment card.
As the facility management company owner and licence holder, you can use your existing visa on an ongoing basis, with no requirement for a specific Umm Al Quwain Free Trade Zone visa. What’s more, as a visa holder in UAQFTZ, you can sponsor your family, and the same applies to your company’s shareholders and employees.
How facilities management companies save money for companies
Firms have come to realise how much money they can save by bringing in a facilities management company at the design and construction phase of a project and avoiding the various obstacles and extra costs that might otherwise take them by surprise. The operational costs of employing a facilities manager are nearly always offset by the long-term savings.
When a facility management company is involved from the outset with business owners, architects and designers, they can bring their unique technical expertise to the planning, design, pre-construction and construction stages of a project. This approach can avoid all manner of obstacles, including unforeseen environmental issues, air-conditioning problems, and unnecessary ongoing building-maintenance expenses.
Modern facility management companies use cutting-edge technology such as time- and cost-saving Building Information Modelling (BIM) to help plan, design and manage perfect buildings and infrastructure. Again, this is all part of reducing long-term costs, enhancing safety and improving the project’s overall quality and vision.
Facility management in UAQFTZ
As the UAE hosts a vast and constantly growing market, there’s no better part of the world to establish a facilities management company. A recent UAE Facility Management Market Research Report estimated that the region’s facility management market would grow from that USD 6.6 billion we mentioned earlier to a staggering USD 39.68 billion by 2030.
When business and lifestyle opportunities combine to such an extent, it’s easy to see why so many startups and established companies choose to reap the benefits of UAE facility management. There are rich pickings to be had, and they’re getting richer all the time. UAQFTZ is the ideal launchpad for your company – contact us today for a personalised quote.