Dubai is known as the UAE’s commercial capital where you can find a range of innovative commercial modules and business opportunities. With an investor-friendly government and international exposure, it continues to attract and motivate discerning entrepreneurs to setup their business there. Startups are also entitled to tax advantages and investment perks. However, before you proceed with your business setup in Dubai, it makes sense to know everything there is about the process.
Regardless of the attractive setup procedures, it could be challenging for newcomers to understand the process. Read on to know all the important things about setting up a business here:
Be certain with your business activity
There are limitations to the business activities that are allowed in the UAE. You will have to be aware of the various consents before you even start with your business setup in Dubai. So, make your decision and determine if your business is suitable to local standards.
You also have to choose the right jurisdiction. In Dubai, business jurisdictions are segregated zonally to boost business productivity and competence. Currently, you can find freezone company formations, mainland business setups, and offshore establishments. Your choice will depend on the nature of your business and its activities.
You can pick among shareholding structures
The structure of shareholding can determine your business setup in Dubai. It will also set your company’s legal form. So, make sure that the shareholding structure is relevant to your preferred jurisdiction and business operation. The options include LLC (Limited Liability Company), branch offices, sole proprietorship, public or private shareholding, and shared partnership.
You need a local partner
If you want to start your business in the Dubai mainland, you have to be partners with a reliable UAE national who you can trust to hold 51 percent of the partnership. In a Freezone, you will have 100% Ownership accordingly.
You have the option to incorporate as an IBC/Offshore if you do not have a local sponsor, but you can operate only with clients outside the UAE. That said, you still get privacy protection, save money in establishing your company in the UAE, and all capital and profits are paid out to your select country.
You can get help
Look for a dependable business solution provider that can help with your business setup in Dubai. They will work closely with you to understand your needs and provide a streamlined approach to providing advice, business analysis and development, contract preparation, company registration, and search and inspection of qualified business partners.
About the Author:
Beyond Limits Business Center is a business solution provider. It is a modern business center in Dubai that offers fully functional offices on rent, serviced offices, co-working space, virtual office, and conference rooms on rent in Dubai’s business heart at a competitive price for all your business needs. Visit the website for more information!
