Dubai is an oceanic hub of the business opportunities for foreign investors all around the globe. As its government facilitates commerce, the investors are open to choose various business models that befit their particular trade in the region. With the wide range of options and specialized laws, Dubai has become the ideal ground for businesses to flourish and expand rapidly with uncompromised ROI. To make sure your setup gets the attention it deserves, here is 5 simple ways to establish your business in Dubai in the easiest manner.
- Know your Surroundings
Before you set foot on foreign territory in terms of trade, it is imperative that you conduct extensive research about the region in which your business will take place. Being updated about the market conditions, what competition you are up against and having a knack for predicting the outcomes of business deals is critical for your success and establishing business without getting in trouble with the red tape.
- Select a Free Zone for 100 % Ownership
To sidestep the requirement for having a UAE national owning over 51 % of the business, establish your company in a Free Zone. It brings the following benefits to your company:
- Full ownership of your company
- Accelerated growth for startup businesses
- Exemption for Duty and Customs
- Flexible office space Dubai
However, settling in a Free Zone is not recommended for restaurants and stores which sell products as they are suited for inter-city markets where customers flock to purchase merchandise. It is also compulsory for businesses that are in collaboration with government to register themselves with a UAE sponsor before setting up any offices in Dubai.
- Your Location Matters
The site where you establish your business is a deciding factor in how well your business will perform. Even if your products and services are top tier, your business center in Dubai will fail to achieve its mark if the customers are unable to access the location from which you supply them. Consider the type of business your company indulges in and then select your location accordingly.
Profit and customer convenience are the two factors to keep in mind. In case you choose a Free Zone, there are certain restrictions such as budget and customer convenience on which you will have to compromise on. When dealing with intercity locations, having a contract with a local sponsor is necessary. Also, look for furnished offices in Business Bay to mitigate furniture and interior costs.
- Balance Requirements with Services
Services also differ according to location. Free Zones provide greater storage and offices. On the other hand, commercial sites are of high value in the city. Balancing your requirements and making the best decision based on priorities is the soundest way to ensure your business will continue operating in a smooth fashion with minimum disturbances.
- Let your Registration Agent Handle it
Rather than go through the nitty gritty details of each and everything from the start, hiring a professional registration agent to deal with establishing the legal framework of your company can prove to be a smart decision. Not only do they have experience with setting up companies from scratch since they specialize in the field, they boast connections which can significantly accelerate the rate at which you establish yourself.
Although establishing your own business may seem like a daunting task, choosing the right manner to proceed and selecting options carefully can greatly lift unnecessary burdens. By sticking with these 5 points, you can be sure to set up your business in Dubai swiftly and with ease.