How to Find Local Sponsors for Business Setup in Dubai
When considering business setup in Dubai, you are always required by the government to get a clear view of the guidelines. Even though the laws and other legal stuff are strict in Dubai, the laws laid out are much easier and flexible to follow. When diving into the business scenario you will get to know more about mainlands and free zones. These are separate locations that have specific features that can enhance modern business setups. Among them, the mainland business setup does have a lot of legal concerns to follow, especially if you are a foreign company. So business owners who are not the actual residents of Dubai need to consider the basic requirement in doing business inside Dubai Mainland. For them they need to have a local sponsor to proceed in any of the business activities. It is a totally different business requirement when opening your workspace in any other location.
Requirements of Business Setup in Dubai Mainland
If you are looking to trade or do business in the Dubai Mainland you will need to pass the eligibility put forward by the government. For foreign companies, it comes with finding an appropriate local sponsor. This is an important matter that can be considered as a form of representation for your foreign business. A local sponsor is someone who is a resident of the UAE and is trusted with your company's existence. And, the law suggests that the local Sponsor must be given 51% of the company's ownership to be considered as the local sponsor. These are basic requirements that will allow me to set up a new foreign business in Dubai.
So you will need to find an appropriate person in Dubai for this matter. There are a lot of individuals like that, but the person alongside you must be trusted and have an interest in the business that you are doing. In a city like Dubai, it is difficult to find such a business person. Rather than just being a sponsor, he will be responsible for more than half of the complete company’s share. So it requires a reliable one to trust everything with them. In such situations there are business setup companies in Dubai who can help you find suitable local sponsors.
Various Kinds of Local Sponsors
Individual SponsorsIndividual sponsors are a category in local sponsors that must be aged above 21 and have a business background. It is not necessarily needed to have the same business knowledge as the sponsoring company but one must understand the foundational aspects. He needed to understand the risks and aftereffects in different situations and need to be able to put their name for any business activities.
Corporate SponsorsCorporate sponsors are companies or corporations coming forward to sponsor. There are services provided by local companies in sponsoring any other foreign company. Even though most of the resident companies that have a business registration in Dubai can sponsor, they should also need a government license for it. There is a completely different fee that will be spent on the sponsoring process if it is done through corporate sponsors.
Local Service AgentsLocal Service agents are business service providers who are professionals in connecting government officials. They are mainly local services that will act as an intermediate to get the appropriate party for sponsorships. These local agents must have a direct connection with the officials or the ministry. You will have to pay them a huge fee to make a deal that will benefit you in taking your mainland business forward.
Finding Local Sponsors through Business Setup Companies in Dubai
The easiest way to find a suitable local sponsor is through a business setup company. These are companies that focus on the business formation aspects of it. Even though they focus more on the setting up aspect of companies, they have a wide range of services where they showcase their professional experience in this field. They can help you with a lot of other services and finding a local sponsor is one among them. Trusting a company with a local sponsor will allow you to find a specialised network within the UAE. You will find many such people who you can trust but more important than that they must be interested in the business you are doing.
Bizvise is a leading Business setup company which has a wing that focuses on scouting local sponsors all around Dubai. If you are a foreign company owner and want to have your dreams come true in the promising metropolitan city of Dubai you can choose us as your partner in finding a suitable sponsor. From our versatile range of clients and sponsors, we will sort out the finest and most reliable sources that you can trust. We consider the complete business ideologies and goals that your company possesses and give you options to pick the right one that feels comfortable in your Business environment.
ConclusionThe Dubai Mainland is serving many opportunities for new businesses. And if you are a foreign company you will surely need a service provider who can find you the perfect sponsor who is a resident in Dubai. When you are new to the city, it will be difficult for you to find the necessary network from the beginning. Now you can get the service from a business setup company in Dubai to make this process easy and effective. Prominent business setup companies can identify the issue and solve it accordingly. So hiring them can be more than a necessity these days.