You will find various opportunities to flourish your news agency business in Dubai owing to its technologically innovative facilities. Let’s know more about How to set up a News Agency in Dubai? But before going there, you have to do thorough research and certain factors that are required to be known with comprehensive groundwork. So, if you are an enthusiastic journalist, read more to know everything on How to set up a News Agency in Dubai? You can always contact a Business Setup Consultant in Dubai to know more and clear your doubts about starting a company.
Required Documents for Setting up a News Service
You have to prepare a list of documents in order to commence a news agency service in Dubai. Here is the list of items that need to be prepared.
However, you must know that partnering with a Global PEO agency will ease the process for you.
- Fill out the application form for the registration of the company with adequate details.
- Fill in the details for the application for the license.
- Business plan
- Original MOA and AOA
- Color copies of the passports of business administrators.
- Resolution of Board
- NOC from visa sponsor of residency
- Proof of the share capital
- Agreement for personnel secondment
- Manager’s signature
- License and Registration fee proof
The Procedures for Setting up a News Agency
Once you have all the documents ready, let’s move on to the procedures you have to go through to set up news agency services.
Get a Suitable Trade Name
You have to get at least 3 options as trade names. Make sure not to choose any names that are related to religious beliefs, any government entity, or countries. In unavoidable circumstances, you have to get permission from the embassies and officials. The chosen name should not be offensive or obscene.
Location of the Service
Finding the perfect location with all the facilities by the side can be crucial. Moreover, as a reflection of the brand, your location in an impressive area is an added advantage. It is advised to find a suitable place in order to gain the trust of the investors. There are other factors like the employee’s security and facilities that need to be considered while fixing a location.
Dubai Media City is one of the impeccable places to start a news agency firm. DMC has become a global media hub that delivers technologies and a community that is friendly for businesses to operate in Dubai. Various media entities like publicity and marketing services, digital media, broadcasting, intelligence agencies, and publishing services can work together.
Structure of the Company
Starting a news agency in Dubai comes with additional benefits. You can have a sole establishment with 100% ownership that allows full access and control of the business.
Get the License for the Initiation
Once the structuring is completed, you can get your trade license from the DED. First, you have to fill out an online form for approval to the DTMFZ. After the approval, provide all the relevant documents and their photocopies. A customer confirmation letter will be provided by the DTMFZ. You have to sign and forward the letter with the relevant payments. Then, sign the MOA in the company shareholder’s presence. The minimum share capital for setting up a media firm is around AED 50,000. You have to provide a full capital share. As a final step, the sponsorship agreement should be signed to receive the license.
There are collective fees for corporate and government services that have to be availed by you in order to set up a news agency firm in Dubai. Moreover, the procedure to get a professional trade license from the Department of Economic Development (DED) is comparably cost-effective and manageable.
Benefits of Commencing a Media Company in Dubai
Dubai is the hub of innovative and creative business, and compared to other places, there is no perfect replacement. As a land of many facilities and opportunities, setting up a news service here comes with many advantages of its own.
- You can have complete ownership of the business.
- There is no personal tax as well as low or no corporate tax.
- The ideal working environment for media companies.
- Complete repatriation of profits and capital.
- World-class infrastructure to aid the standard facilities.
- Free from Import duty charges.
To reiterate, Dubai can be an infallible place to set up a news agency owing to the aforementioned reasons discussed in this blog. The media industry always has a major role in promoting growth and popularity at a global level. As a place with many business opportunities, one can avail many beneficial factors that are offered. A news agency that covers most of the essential news is an asset to the media industry. So if you are an enthusiastic person who is thinking of setting up a news agency, consult a Business setup in UAE to know more about the factors that need to be checked to set up a news agency in Dubai.