Tips for starting your own business in Dubai

Dubai is considered as one of the most livable cities in the world. With ample business opportunities and encouragement from the Dubai government for foreign direct investment, businessmen from across the world find it rather hassle-free to expand their business here.

Business Formation in Dubai Freezone is particularly encouraged by the UAE government in view of the upcoming EXPO 2020.

That being said, the local business scene of UAE has its own intricacies that you should be aware of if you are considering LLC company formation in UAE or Company Formation in Jafza Offshore. This is the reason is best to hire a local consultant, who can help with company formation in Dubai.

Some quick tips to start your business in Dubai

·         The first thing to bear in mind is that the UAE government only allows businesses that have a local sponsor with a stake of at least 51%. This implies you will need to find an Emirati national, to whom you will have to pay a yearly fee. With this setup, you can have your business at any place in Dubai. However, if you are looking for 100% ownership, you can choose to establish your business in any of Dubai’s freezones.

·         It is important that you do a good research on the location. If your business is customer oriented, it is important to choose a location that is easy to reach. You may consider the distance from metro stations and availability of free parking around as your key aspects when choosing a location for business such as retail outlets, restaurants, etc.

·         Ensure that you have the valid visa for business. If you have a local partner (sponsor), he will arrange for your visa however, you need to be sure about everything legal about your eligibilities on the visa.

·         Hiring a business registration agent can be a good idea to start your business in Dubai. As the agents are well aware of the local legal formalities, you can depend on their expertise in dealing with the local government or the free zone authorities. 

Ideally, setting up a profitable business in Dubai is easy and convenient. However, the government is very strict with its local laws and fines are huge. So, it is always recommended that you do your research well before you take the plunge.