If you want to make a living doing business in Dubai you need to know many important things about it. Don’t be fooled in to thinking that you can do business in Dubai with investing sufficient money alone. There are many do’s and don’ts associated with setting up a business in Dubai. Not only that, there are some do’s and don’ts associated with pursuing any job or achievement. You need to have a rough idea of it, act wisely accordingly. Once you understand the do’s and don’ts and take the necessary precautions, you will be able to carry out your tasks in the most satisfying way. Whether you come to do business or work in Dubai, you must be careful not to succumb to the senses of wisdom. Of course this also applies to you, if you are trying to set up your own business in Dubai. Whatever be the business ideas in Dubai, must strictly abide by the local laws. As you know, Dubai is an international business and technology hub. The far sighted business friendly UAE governments efforts and great role in making this change are not worthy. Dubai has been the most generous and friendly to foreign investors. the factual factors that make Dubai, one of the most preferred business locations for foreign investors can be summed up. Various business friendly measures, such as tax benefits, freezone jurisdiction, man power supply, infra structure, availability raw materials and financial stability, are all influencing foreign business men to invest in Dubai.
The world expo Dubai, held every year in Dubai will give confidence, inspiration and more guidance to those who want to invest and do business in Dubai.
When trying to start a business in Dubai, it’s best to spend time to learning and researching things related to the business, so you will not regret having a clear understanding of the different types of company formation before embarking on a venture. The major company formation procedures required by law in the UAE are mainly the formation of a mainland company, the formation of a freezone company and the formation of an offshore company. When choosing a company formation, choose based on your business performance and target customers. You need to find plenty of time to understand your market and competitors. There are certain restrictions associated with each company formation that can either help you, or cannot help. Therefore, the business entity you choose will ultimately play an important role in determining our business growth. Choose the right business license for your business with the help of any trusted consultancy. Any foreign investor is bound to obey the laws; otherwise the business ideas will not be a reality. Choose your business license only a regular basis, commercial licenses, industrial licenses, and professional licenses are the three category major business licenses issued in the UAE. They select the appropriate license based on your business endeavor. As each license is different, the formalities involved in issuing a license also vary. There are some licenses that require permission from the Ministry of External Affairs and other agencies. Documentation and fees vary according to the specifics (type) of each license. If you want to start a business in Dubai, you need a local sponsor or at least a service agent. When it comes to a local sponsor, it has to be a UAE citizen, only then will you be able to set up a mainland business with the money. Your local sponsor, a UAE citizen is entitled to 51% of the company’s total share.
When you start a company with investment, it is possible to form a suitable company according to the nature of the company’s operations. Limited liability Company or LLC is a very popular business formation system operating in Dubai. There is a good opportunity for a limited liability company to take advantage of Dubai’s business potential. An LLC can be formed with the backing of a UAE citizen as a sponsor. Maintain a good relationship with your local sponsor at all times. The local sponsor has obligations, the local sponsor acts as an intermediary who handles various formalities with the authorities. As such, they also help you resolve issues or delays related to the formation of company in Dubai. If your business intent is not to do things in the most gentle way, it will not succeed. Choosing a mainland business has many advantages, so if you want to do business anywhere in the UAE, choose a mainland business. Mainland business have features that other business do not have, mainland business owner has the authority to do business anywhere in the UAE. This is a significant achievement compared to freezone companies. Freezone companies are allowed to operate within certain predetermined jurisdictions. The mainland company always enjoys more benefits, or better business exposure and reach. Another added benefit is that mainland companies have the power to take on large scale government contracts or projects. That being the case, the formation of the freezone company guarantees 100% ownership and tax benefits. These are definitely for the foreign investor who wants to invest and do business; the differences between the two should be understood as clearly as possible.