Breaking Myths with Facts about the Business setup in Dubai
Dubai is a welcoming city and home to many large business houses in the world. Business houses invest billions of dollars in Dubai because of its various advantages including a growing economy, visa advantages, tax-free business, infrastructure, and resources.
Even if we have many greatest examples of successful businesses in Dubai around us, some misconceptions or Myths regarding business setting up in Dubai promote uncertainty and confusion among upcoming investors and owners.
It is obvious to hear many different views and opinions while researching on setting up a business, but one should verify and confirm if it’s true or not before concluding.
In this blog, we will be breaking myths with facts regarding setting up a business in Dubai.
Myth 1: Business Incorporation procedures are costly in Dubai
It is a false opinion. In Fact, the business incorporation process in Dubai is super affordable and cost-efficient. Dubai, the most celebrated and popular location in UAE is also an investment hub where the company set-up cost is far less compared to other similar locations. In Dubai, there are Mainland, free zones, and offshores from which you can choose a location that best suits your budget and business type. The majority of new companies or startups chose Free zones to set up their companies as they offer tax benefits, while established companies choose Mainland as it helps to carry out business activities outside the nation.
Myth 2: Legal procedures are time-consuming
It is a false accusation. In Fact, you can deal the legal proceedings with the help of trusted business consultancies like Bizvise. It is obvious that some of the procedures will be new to ex-pats but, by entrusting your business set-up procedures with a trusted consultancy like Bizvise, you can save time and need not have to stress out. Bizvise will help you set up your company as early as possible by completing every legal proceeding.
Myth 3: Offshore Businesses are Illegal
Yes, it is a false idea. In fact, doing business and setting up enterprises Offshore is growing with time. Setting up enterprises and doing offshore business are considered smart moves as one will get to enjoy tax benefits. To know more about the benefits offshore offers, contact Bizvise.
Myth 4: Finding a local sponsorship is necessary and difficult
Again, a false statement. In fact, the need for a local sponsor completely depends on the business activities. The UAE government’s recent action says this law gets applicable only to 122 permitted business activities. This indicates any non-GCC investor can set up an enterprise without the sponsorship of a local Emirati.
Myth 5: Dubai is not Female Entrepreneur friendly
False. In Fact, Dubai is becoming Middle East’s most inventive hub for women entrepreneurs to kickstart their businesses and attract funding. The number of women, owning businesses and women-owned businesses in Dubai is emerging year over year and women tend to secure leadership positions in Dubai also.
Dubai is the most liberal and progressive city in the Middle East and The UAE's gender-neutral and inclusive actions resulted in its growth and achievements.
Myth 6: Finding investment is impossible
This is a false statement
Getting investments in the UAE is quite the opposite. In fact, the UAE government is highly supportive of local entrepreneurship and its business growth. The government has also established business incubators with support staff and equipment for small businesses launched in the UAE. In the UAE, getting investment and infrastructure support for enterprises is easy.
To know the actual procedures and understand the facts regarding business setup in Dubai, getting in touch with a trusted consultancy is highly advisable. We may hear many views and opinions regarding setting up a business in Dubai and that need not be true. Do a fact check with Bizvise to know the actual status and truth about the business setup in Dubai. Bizvise is committed to taking care of your company’s incorporation procedures in the fastest way possible.