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Business Setup in Dubai: What to Expect?

Is it difficult to set up a business in Dubai? Read the few noteworthy points about the steps one should follow before taking the plunge. A step-by-step process has been given that may be followed after further research along with the importance of using a business consultant for business setup in Dubai.

Business requires one to think from the start to the finish line without missing any details, considering the fact there is moderate to heavy investment that is required to start a company. This investment is not financial, but also mental and emotional.

Setting up a new business is no different in Dubai. However, there are various perks that are offered to foreign investors by the governing body, making it an attractive proposition for foreign entrepreneurs.

Business Consultants

Typically, business setup in Dubai can be a complicated matter with all the paperwork and licensing work required. It may be quite different from your country and this could pose a major problem to entrepreneurs and investors who are new in the city.  

 

The best way to deal with it, in case you don’t want the trouble, is by hiring a professional business setup consultant. The consultant can assist in getting the right documents for the right government agency. Also, they will get all the required permits and licenses that are needed to start operating in the city.

Setting up a business in Dubai

Here are some of the things that you would need to do when you are thinking of setting up your business in Dubai:

i)        Decide on the zone that your business will be in. There are three zones that can be chosen - LLC local, Free Zone, and Offshore

ii)      Creative City Free Zone has a high activity for online businesses.

iii)    Offshore company formation will be the right choice if you are planning to be out of the country.

Besides, the above-mentioned points, you should be clear about:

i)        Type of business and the ownerships required. Your business can be professional, industrial and commercial. In the case of 100% ownership, one can start in the Free Zone. Free Zone is segregated as per the type of business. The DED (Department of Economic Development) licenses are mandatory and have restrictions on the share of ownership in the country.

ii)      Trade name and the legal forms are important, as the trade name has to be based on the type of industry the business is in. Legal forms will be made after the trade name has been fixed.

iii)    Share capital refers to the capital that the business starts with and is mentioned in the Memorandum of Association.

Lastly, to iron out all the details of employees, renting the right premises, and for the local support required for a smooth business setup in Dubai, it is advisable that you seek a local sponsor or business consultant who can advise you of the best possible way to overcome the hurdles. A consultant will handle all the paperwork and ensure you get the necessary permits and licenses to set up your business in Dubai, which is a great place for foreigners to conduct business.

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