5 Things To Do Right After Company Incorporation

Establishing a business is anything but cakewalk and more so for an entrepreneur. After you are done with the process of choosing a structure for your business and company incorporation, you must not sit idle if you have big dreams for your company. There are a lot of things that you need to do before you finally kick-start your business.

So what are the things that you need to do if you have recently incorporated your own company? Here is a to-do list that you need to check off! 

1.      Getting a Tax Registration Number

Be it a corporation or an LLC or a sole proprietorship – every business entity needs its Tax RegistrationNumber or the TRN to operate in Dubai and other parts of the Emirates. It is through this unique number that the UAE government tracks your business's activities. So right after forming an LLC, this should be your priority. But why is this number so significant? Without the number, you won’t be able to file your business’s tax returns. 

2.      Obtain business licenses

After company incorporation of your business, you must apply for the necessary licenses that you would require in the course of running your business. You also need to keep track of all the offices that you need to visit to apply for the permits.

3.      Meet with a tax advisor

Before you start operations of your business, I would suggest that you get an appointment with a tax advisor to gain a better understanding of all the taxes that you need to file. An advisor would also be able to help you choose the correct tax and VAT schemes.

4.      Open a business bank account

Once the formalities for company formation are duly done, you need to get your documents to open a bank account for your business. As this can be a complicated process, you can hire an agent who offers business setup services. The agent can do the needful and open an account which you can use solely for the financial transactions of your company.

5.      Protect your name with a trademark

Before company incorporation, you have given a name to your company, right? So your next step after formation should be to get your company name trademarked so that no one can infringe on it and use the name elsewhere.

With the above simple steps, you will be able to keep your business legally protected for years to come so that you can proceed with your business without any hindrances. Just tick off these five tasks, and your company will achieve the height it deserves.