Dubai is one of the most attractive cities in UAE to set up a business in. Many multinational businesses have set up offices in this city. But it is not as easy as it seems. There are few pointers to take in to consideration when setting up a business in Dubai.
Chose the ideal location
Dubai is in Emirates and there are seven other states in Emirates. Each state is governed by different rules when it comes to business set ups. For example make sure you have a clear idea of your customer base and where they are located, the rules and regulation of the state that you are planning to set up and whether those rules and regulation affect the nature of your business any way. By taking these in to consideration you chose which state in Emirates to set up your business.
Chose the ideal company formation method
Emirates offer two types of business formation methods, this is the Free Trade Zone and the Non-Free Trade Zone. Free trade zone businesses are also known as the free zone businesses. There are number of advantages to freezone business setup Dubai. You do not need a sponsor like for the traditions non free trade businesses. Making you the 100% owner of the company, 100% free transfer of funds and many other facilities. However these free trade zones can be bit expensive and they have a limited number of spaces available.
On the other hand for non free trade businesses, you need a sponsor who is a UAE citizen and 51% ownership will be of the sponsors, which means the profits will also be shared. So when selecting the type of business incorporation you need to consider all the possible factors.
Get professional help in documentation
Like any business formation setting up a business in UAE involves lot of documentation. It is better to get the services of professional business consultants in freezone business setup. Especially for business incorporation documents you may need consultation of a professional. If you need any documents translated, get them done from a certified translator. If you need to open an onshore off shore bank account, research the facilities given and check if you need any extra facilities and get them sorted from the bank. Consult a professional in all legal matters regarding any agreements and contracts to make sure there won’t be problems later on.
These are few tips to consider when setting up a business in UAE, for detailed information it is better to consult a professional prior to setting up the business.