It’s a journey towards the destination, Have you ever been thinking to start your own venture. Do you think about being an entrepreneur and make a contribution in the business industry.
The biggest challenge to start your own business in Dubai is the knowledge about the market and costs. To know the most successful business is no matter, but if you have enough idea about your business plan. As we said, if you want to become an entrepreneur, here is the most important factors and the guidance for new business setup in Dubai.
Key Benefits of Starting a Business in Dubai
Dubai is the ideal place for starting a new business in a flexible manner and making your own opportunities. The main reasons for the entrepreneurs and business investors come over here in the UAE because of the flexible and reliable business setup policies. Know the key benefits of starting your dream business in the heart of Dubai.
- A Fast, Growing Economy
United Arab Emirates is the second largest and one of the fastest growing economies in the Middle East. Dubai is a land of big opportunities for businesses to advance their growth by emerging with new markets.
- Tourism Support
“Welcome to UAE for everyone” – UAE is the place which attracts everyone for the tourism and the biggest events like Dubai Shopping Festival and some awesome places to visit.
- Excellent Infrastructure for Business
UAE is one of the Leading Business Hub and the favorite destination of investors from all around the world. The biggest advantage of doing business in the UAE is the most advanced infrastructure facilities and government support.
- UAE Leadership & Rules
The prominent and ruling leaders in the UAE are always looking for the betterment and future visions for the country. The rules and regulations are aware of each person who visits to their second country for business or by the tourist visa. Because of the safe and secure places in the world, the UAE has become more powerful and powerful for making investment projects and businesses.
BUSINESS SETUP IN DUBAI : MAINLAND VS FREE ZONE
If you are a business owner, you have the option for setting up a business either in Dubai Mainland or Free Zone. The main differences between the two jurisdictions are about the ownership percentage.
The Dubai Mainland Company Formation is the jurisdiction which allows you to sell the services in the UAE local market, allowing the local sponsor owning 51% of shares of the license. But this rule has some flexible option announced by UAE in 2018 for the Mainland by owning 100% ownership by Local Service Agent (LSA) in the license.
In the Free Zone entity, there is no requirement for local sponsorship and also allows the investor to owning 100% ownership and shares. If the companies want to operate the business outside the UAE, Free Zone Incorporation is the better option. But at the same time, it has the limitation of doing business in that particular free zone only.
COSTS IT MATTERS FOR STARTING A BUSINESS IN DUBAI
Each investor came across the important factor is the cost of setting up a business in Dubai. The prior concern is depending upon the activity of the business and the location where you are planning to open the business. If you are ready with the business plan, then move forward towards the licensing process, office space and visa for the employees.
SOME OF THE EMERGING BUSINESS ACTIVITIES IN DUBAI
- Restaurant & Cafeterias
- Food Stuff Trading
- Catering Services
- Beauty Salon
- Commercial Services
- Consultancy Services
- IT & Marketing
- Printing, Publishing & Media
- Software & Web Services
MAIN STEPS TO START A BUSINESS IN DUBAI MAINLAND
- The first step is important for a new business setup in which by choosing the business activity and what kind of license it requires.
- Depending upon the type of jurisdiction such as Mainland LLC or Free Zone, the process of company formation and necessary approvals varies accordingly.
- Next step is to apply for the trade name and initial approval under DED which follows the rules and regulations for the company setup.
- Typing of MOA and signing of the agreement with Local Sponsor or Local Service Agent based on the legal type of your business.
- Shared office spaces or Ejari will be provided with valid documents for issuing the license.
Would like to know more about company formation in Dubai, hassle-free assistance and costs details. Get in touch with our business consultants for the right information and the perfect advice for your business startup.