You all might be wondering about how to start a business in Dubai. Well, you have come to the right place where you can find all the very best resources, which can help you to setup and register a business company in Dubai.
It is not a very difficult task to start a business in Dubai but all it needs is correct planning. We will help you in setting up a business in Dubai from scratch and take it to great heights where you can achieve all what you’ve dreamed of. You will be guided step-by-step to register a business company in Dubai so that you can start your business in Dubai very much easily and without any hassles. We will surely help you to reach your business goals and vision within a very short span of time.
Selection of a Local Sponsor to start a business in Dubai
First of all, you will need a Local UAE National who must have a 51% stake in your startup in Dubai. This sponsor holds the right to get a yearly fee for his position held and you must negotiate the sponsor fee at the time of putting up your agreement so that you don’t face any problems with the authorities later on and the sponsor can help you get along with them.
In case you choose some Local Company as your sponsor, you may get the benefits of choosing an appropriate location in the city as a primary advantage. This can surely be of great help while setting up business in Dubai as the location of the business plays a key role in the functioning and growth of the business. This will also help to explore much more business opportunities in Dubai and will help you fetch more exposure.
Getting a full 100% ownership by selecting a Free Zone.
You must select any of the Free Zones to start a business in Dubai if you wish to get a full 100% ownership of your business setup in Dubai. This provides a degree of control over the business and sort of freedom to control your business and there you are not even messing up with the authorities. This is surely a win-win as you don’t bear any sponsor fee or provide someone with a greater stake of your business and still own the 100% of the business setup in Dubai. You will surely be able to start business in Dubai solely and with a greater freedom.
But you must keep in mind that this won’t work if you plan to start your business in Dubai at one of the city markets or shopping complexes at retail stores or outlets and even when your working with the government.
If you feel okay with the above restrictions while setting up business in Dubai, you are good to go plus you’ll have certain advantages such as 100% Ownership, Duty Free Customs Boundary and obviously an Express Business Setup in Dubai.
Setup a Business in Dubai? Read More : HOW TO SETUP BUSINESS IN DUBAI
Selection of a Perfect Location to start a business in Dubai:
Perfect just doesn’t mean a location in the center of the city but it is way beyond that! A perfect location to start a business in Dubai must be one where your customers can reach very much easily because that’s how you’re going to earn off your business. Starting a business across any street around will not just get you along but you need to seek business to grow and expand to your maximum potential. You need to find the most appropriate location for your business to flourish. Your business might be profitable at a location where most businesses fail and might not work out at a location where most businesses make ton of money, it just depends on what your business demands.
If you are planning to opt for a Freezone company, you must ensure to keep in mind the costs you will incur as per the distance it demands because that may affect your products costs and the revenues by a great margin, so that cannot be ignored!
Also, you must ensure the basic amenities and facilities that your business location offers as those could get you a long way for the choice as in telecommunications, storage spaces and other miscellaneous facilities around. Remember, small things cost you big, make sure not to ignore them and make your business as efficient as possible.
Confirming your documents to start a Business in Dubai
If you intend to start business in Dubai, you must keep your Visa and other official requirements updated and make sure that this doesn’t stop you from running a business in Dubai, as it is the only thing that will permit you and your employees to live in the UAE.
You must also check upon the Visa type that is applicable as per your business and its size. You will not face many difficulties in obtaining Visas for your business as the UAE Govt. promotes businesses to setup and establish them in the UAE.
Choosing a registration agent to start a business in Dubai
If you think that starting a business in Dubai is going to be much of a work for you to do, you can always hire an agent to help you through the process as they help you with all the paperwork and all the legal formalities against a nominal fee for their services provided.
Apart from this, they will also get you registered and even help you in opening a bank account, arrange for an auditor and even provide you with nominee services. They also have a great expertise in dealing with the local government and the Free Zone authorities which means that they can really get you along and that too with great ease and you know what? They even help in estimating the real time costs that your startup in Dubai is going to incur depending on the market situations. It is surely a great idea to hire some business advisory consultant if you are really lazy to do the work completely by yourself.
What all should be kept in mind to start a business in Dubai
Do not ever select a Free Zone for your business:
Before selecting a free zone, make sure that you check upon office space and other preconditions, else You might incur great potential loss for your business to an extent that it might even fail if you don’t research well. You must look upon the free zones that offer you great rights but catch up on the office spaces and their distance from basic amenities. This should definitely be kept in mind.
Choose your bank wisely to start a business in Dubai.
Do not just open your account in a bank based just on the bank’s reputation. Many of these banks levy various heavy charges on the transactions performed and these costs may seem small at the beginning but may wreck your business in the long term. So make a note of that and always do remember to read all the paperwork before blindly approving.
Make sure to have a valid written agreement while signing your sponsor.
Do not ever rely on verbal understanding as there can be some sort of misunderstanding on either of the ends and may great big disruption for your business and you just cannot afford to play with your business so make sure you go with the written agreements always.