So, you are looking for a business formation in Dubai. Well that’s a great thought as Dubai is growing as a biz hub offering many opportunities to fresh as well as established business owners. If you fall in the category of being a starter, then the process of company formation can be a little complex and arduous. However, it is advised that you must hire a business consulting firm that is reputed as well as experienced in the field of settling your business in Dubai.
Once contracted, the business advisory firm will help you in the business formation in Dubai by doing all the paperwork, completing the legal formalities and all other such things required. Not only will the experts employed at the advisory firm will guide you in setting up your business, but also help you to run it successfully. Let’s take a look at few of the important things to do when setting up your company in Dubai.
· Select the type of business you need to set up
Whether you want to own a retail shop, an internet based business, a hospitality company or some other industrial business, you must choose the business type beforehand. This will help in in determining the location of your business set up that would be most suitable for you, the kind of license you would need from the government, and all other legal and registration formalities needed.
· Type of ownership
If you need to set up your company in Dubai city, then you would need to look for a Dubai national (local sponsor) who will be 51% owner of your company in Dubai. However if you want a complete ownership of the company in Dubai, then you must invest in a location in one of the 35 free zones here, where each of them is dedicated to a particular sector of business type.
· Aptly follow the legalities
It is mandatory to follow the rules and registration procedure appropriately, if you want to start a business in Dubai. You must always make sure that all the documents required for the legal formalities are in both Arabic and English language. Also, the copies of the documents would be counted as valid if signed by a notary.
If you are looking for a business advisory firm in Dubai for starting a company here, then Adam Global is amongst the most trustworthy advisory company that you can rely upon.
If you want to set up business in Dubai, then there are several things that you need to know, especially if you are new to this Arabian zone.There is hugedesirability quotient of individuals seeking for starting a business in Dubai here in this article, we shall be taking a look at a few of those reasons as well as get a clear answer to what, why, and how to start a business in Dubai.
Freehold Zones for foreigners
The non-UAE nationals are allowed to invest in a property only in the freehold zones. These zones are designated by the Dubai government where the non-nationals can own an absolute interest in land. In these areas, businesses are neither taxed on the company’s income nor are payroll taxes applied. This designation of freehold zones has encouraged various MNC’s to establish in Dubai. But yes you do not own the business entirely and just a 49% percent shareholder, while the rest 51% is owned by a Dubai local according to the laws.
Dubai offers an excellent geographical location
Dubai is an established hub of finance and commerce where a lot of people including the daily wage laborers, merchants and entrepreneurs are attracted. This is because of the distinctive geographical location of the port city of Dubai on the Arabian peninsula. Although amongst the leading producers of petroleum, the petroleum sector contributes only 7% of the total annual GDP of Dubai.
The central geographical location of the city near water has made it a prime trade destination. Many merchants the continents of Europe and Asia arrive find it convenient to trade in Dubai. While other foreign merchants from far off regions get attracted to the city because of the relaxation in trade and tariff laws here.
If you are looking to set up business in Dubai you would first need a business license to own it. The three general business licenses you would need include:
* Professional License – if you are looking for professional services
* Commercial License – if you want to get establish in import/export trading
* Industrial License – if you want to get established in manufacturing operations
Adam Global is one of the top business consultant firms where you can get help from experts to set up business in Dubai and run it successfully.