Every person has different dreams. But businessmen have the same big dreams. They always think of establishing new businesses. However, business setup in Dubai does not require a lot. All it needs is just some planning and a good amount to invest. Nothing can stop you from achieving your next big step when you have plans in mind and money in your pocket. You can start a Business setup in Dubai in a very suitable environment.
This might surprise you, but it is a fact that there are straightforward and essential requirements to start a business setup in Dubai. Suddenly, the Emirati government is trying to make it easier for new investors to start a business. Unlike in the old days, procedures are made simple and shorter. For example, there is no need for extra verification once you complete the initial approval requirements.
To start a business setup in Dubai, you should start with the basic steps. However, these steps are difficult to follow, but no longer if you’re a valid person. Dubai government would provide you with straightforward grounds. So, you’ll need less documentation and procedural struggle to follow. Despite all these easy-to-follow steps, some things make it difficult for a beginner to start his new business in Dubai.
One of these could be new faces to interact with and unawareness of the business authorities. Hence, you’d need some people to guide you. For that, you might contact a consultancy agency for proper guidance. This can make your process at least well defined for you. So, unlike other articles, this text would tell you that having a proper consultancy is the first step in starting a business setup in Dubai.
Plan Your Business
Like every other significant step in your life, planning your business setup in Dubai is also essential. This could give an idea about how things would go in the future. Elsewise, you might find yourself surrounded by unfamiliar problems. Planning can help you to deal with these issues beforehand. The most significant part of your business planning is choosing the business activities. There are several activities offered by the UAE market.
The first thing you should be doing is looking for experts that can help you with company incorporation in UAE. This means what you are essentially looking for are trained and experienced business lawyers or law firms that can help guide you as far as all the paperwork is concerned. If you have the right incorporation, you are not going to face any problems or troubles later on. This is probably the very foundation of your new business and you want it to be perfect.
However, you need to choose any of those to trade in. This also defines your business zone. For example, there are three different zones in the market of Dubai. But you are supposed to choose any one of those to start your business in. those three zones are:
- Free Zone
Out of these three zones, the freezone is the most preferred by businessmen. This is due to the concessions and benefits offered by the zone.
This zone gives 100% ownership of the business. While you start your business set up in Dubai, your freezone business is wholly owned by you. There is no requirement of a local shareholder, i.e., a sponsor.
Previously, 100% ownership was only possible under the Dubai freezone. But recently, the rules have been revised. Now you can own a business completely even under a mainland activity. However, an LLC still requires 51% shares to be owned by a local shareholder or a partner company. Furthermore, there’s no limit on the number of visas you can apply for. However, there is a condition for applying for visas.
If you apply for a visa, you must have the required space for your office or business location. This space is set to 100 meters per person for a visa application. But it is different for remote workers or under specific circumstances. For example, if you’re a domestic cleaning company with more than 500 remote workers, the 100-meter rule would be applicable here.
An offshore business zone is a pure benefit for remotely working for companies. You can register your company as a branch of a business. With this, you get an opportunity to work from outside of Dubai. However, you still get benefits equal to any other company registered in Dubai physically.
There are three types of bank accounts, i.e., saving accounts, current accounts, and time deposits. However, you are required to open a corporate bank account in Dubai while registering as a business company in the city. This allows your online transactions, free flow of money, and much more.
While planning a company formation in Dubai, your aim should be the zone choice. Because choosing the correct zone is very critical. Otherwise, several issues can come in your way while growing in the trading market.
Moreover, many options are available for your new business setup in Dubai, but you should continue with wise options. This helps you grow faster and better. Furthermore, you find relevant people in the relevant market. But you might feel alone or left out if you’re in the wrong place. So, search online and get perfect advice from the right business consultant.