For the past decade, Dubai has started to attract many business investors to its shores. Owing to the range of commodities that Dubai exports and its ever increasing tourist traffic, Dubai has become one of the leading countries in terms of foreign investment. However, as promising as starting a company in Dubai sounds, the actual launching of a successful enterprise in the United Arab Emirates can be a complicated process. For this reason, the following article aims to provide you with an essential checklist for a profitable start-up business in Dubai.
Identifying the Location for Business in Dubai
One of the most important steps to start business Dubai is chosen a location that is convenient for potential customers or clients to find. Location identification is a ridiculous task for investors those who are not aware of UAE market. Consulting with business setup consultants and real estate agents are the best way to choose the right location for your company in Dubai.
Identifying Local Sponsor
For all companies registering in mainland of Dubai including LLC, Civil Companies, professional firms, and Branch companies in Dubai /UAE must have a local sponsor. You can achieve this by having a UAE national sponsor your start-up. If your business is not locally registered, or your business entity is registered as a free zone company then, your company will not have the option to choose where in the city you want to locate your business.
Identifying the Right Freezone
If you would prefer not to have a local sponsor as your partner, you do have the option to use a ‘Free Zone’ to locate your business within company formation in Dubai free zones. This alternative, however, can be expensive and not as convenient for attracting customers as locations in the city. Nonetheless, using a free zone for your company location has its advantages. For example, your business may be exempted from paying import and export taxes. Bear in mind that each free zone has different fees and start-up procedures.
Right Knowledge on Labour Rules and Commercial Rules
Investors and employees have the proper documentation needed to live in the UAE and that you are eligible for a business/work Visa. This is not a difficult process as the UAE government is open to foreign investment. You will need to have your local sponsor apply for your business Visa as an investor of your start-up locates in the mainland and for free zones, proper PRO or investors can manage themselves to attain visas. They will need to write a letter detailing their personal information and the reasons for the application. Thus, having a good relationship and communication with your sponsor is important, as your sponsor plays a major role in your business start-up. Be sure to have a legal written agreement between you and your sponsor to ensure there are no misunderstandings regarding payment and ownership.
Hiring a Registration Agent or Appointing Business Consultants in Dubai
The essential step is to hire a business registration agent in Dubai or in other words appointing a business setup consultants in Dubai. Their job will be to help you open your bank account and register your company for you. A registration agent is likely to have a better understanding of the local laws than you, and their expertise will help you set up your business smoothly without too much effort on your part.
Though the initial process can be costly, the growing and diverse economy of Dubai makes it a worthwhile investment as it as ideal locations for a business setup in UAE free zones. By following the above steps, your start business Dubai will very likely be a success.
To start business Dubai you may explore services provided by local business setup consultants. Nex Consultants is a business setup consultant in Dubai which made up of dynamic and experienced professionals providing company incorporation, market entry strategy, and accounting and consultancy services in UAE. The range of our administrations covers all parts of working together in the UAE. While based in Dubai, we offer comprehensive services for business setup, accounting, and advisory services across the region. We have more than 200 clients, an experience of 136 company formations according to with our professional and experienced staffs provide trusted and reliable services with full of dedication.