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10 things you should know about starting a business in dubai
1. 10 Things You Should Know about
Starting a Business in Dubai
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2. When it comes to business you need to make
sure that you have the right location. Dubai has
gradually managed to free its economy and
provide more option to the services industry
and companies rather than being dependent on
oil industry.
3. Today, Dubai is attracting not only real estate
owners, but business owners from around the
world to have their corporate branches in Dubai
that allows them to handle their business in the
Middle East efficiently. However, starting a
business in Dubai is by no means an easy task
and there are certain things that you need to
keep in mind before you start your business in
Dubai.
4. 1. Selecting the Right Location
The most important thing that you have to keep in
mind is the location of your business in Dubai.
When you are setting up profit-based enterprise in
Dubai you need to ensure that you have an office
close to your customers and clients that can help
you reach them easily and similarly also allow your
customers reach your office whenever they want.
You can research and find out about the best
locations that you can find for your business in
Dubai.
5. 2. Get Your Business Visas
It is very important that you have the right
business visa that allows you to handle and start
your business in Dubai. Hence, you will have to
make sure that all your visa related papers are
completed that can allow you to start your
business smoothly without any interruptions.
6. 3. Find a Right Business Consultant
If you are new to Dubai you will need a business
consultant that can guide you in the right
direction whenever you are lost. Hiring a
business advisory firm can offer you better
support while registering your business startup
in Dubai.
7. 4. Register Your Business Legally
Whether you are taking help of business
consultant or not, you have to ensure that you
register your business startup in a legal way to
avoid unnecessary penalties and legal issues
later on. You have to be clear about
documentation that is required and speak to
government authorities if you have cleared all
the registering procedures.
8. 5. Keep Your Finances Ready
When you are setting up business in Dubai you
also have to keep your finances ready because
there are not many banks that can provide you
with the financial support that you need, at least
initially.
9. 6. Select Free Zone for 100%
Ownership
If you want to start a business with 100%
ownership you will need to look out for Dubai
Free Zone location that can help you to start
your business without taking a local UAE
national acting as your partner. While Dubai
Free Zone offers 100% ownership, speedy
startup and Duty Free customs boundary the
real estate prices here are high. You can look out
for firms that offer Free Zone Business setup
services to you.
10. If you are not willing to pay more for your
business location you will need to search a local
sponsor who should be a UAE national and must
have 51% partnership in the company.
11. 7. Find a Local Sponsor
If you are not willing to pay more for your
business location you will need to search a local
sponsor who should be a UAE national and must
have 51% partnership in the company.
12. 8. Make a Legal Written Sponsor
Agreement
When you have found a legal sponsor for your
business startup make sure that you go ahead
with legal written agreement for security
reasons.
13. 9. Open a Local Bank Account
It is always recommended that you also open up
your business bank account in Dubai based on
the reputation, features and the charges that
you will have to pay for the banking services.
14. 10. Choose Your License Category
Wisely
When you register your business in Dubai you
have to make sure that you choose your license
category wisely that can allow your business to
do handle more activities.