- December 14, 2019
- Posted by: DBS
- Category: Incorporation in Dubai
How to Start a Business In Dubai
If you have been wondering how to start a business in Dubai, then you are one of the visionaries that will have a prosperous future.
Dubai is not only an accessible touristic location with stunning architecture and breathtaking natural spaces. It is also a city with solid economic stability and a GDP that grows year after year, easily compared to the economic boost Hong Kong and Singapore have experienced.
Starting a business in Dubai is a bright idea, not only because there is a great chance of success, but also because it is a simple process.
Whichever business ideas in Dubai you may have, you can count with Dubai consultants like Dubai Business Services. We are here to guide you through every legal and economic process that will help you grow your Dubai investments.
Business Opportunities in Dubai
Now more than ever, business opportunities in Dubai are as vast as your imagination can be. Investors not only focus on imports and export commodities but also notice and take advantage of the high touristic traffic the city has.
As mentioned before, the business setup in Dubai process is, in fact, very simple and fast, but it’s always better to have a business consultant in Dubai to guide you through all the details.
For example, many foreign entrepreneurs are interested in developing their businesses in free zones Dubai, but not all of them fully understand what free trade zones are.
Fundamentally speaking, one of the reasons there are so many business opportunities in Dubai, is the existence of these free zones, which are special zones created to offer special tax concessions and many customized duty benefits to foreign investors.
Usually, free zone authorities offer business licenses. However, each zone is designed to function around specific industry categories, so if you would like to start a travel company in Dubai based on a free zone, you need to be directed to that zone specifically.
Currently, there are more than 30 free zones in Dubai; some of them offer incentives as 0% corporation and personal tax, 100% repatriation of capital and profits, including 100% company ownership.
To successfully start a business in Dubai, you can find Dubai Business Services among the list of consultants in Dubai that do the best work for new entrepreneurs.
And before guiding you through the steps of forming a company in Dubai, we would like to shortly mention why it’s better to start this economic journey next to specialized business consultants.
Why Hire Consulting Companies in Dubai
Whether you are a new entrepreneur, or an experienced one, it is always better to work close to consulting companies in Dubai to guarantee the success of our new company, and to make sure everything runs legally.
First of all, working hand in hand with a business consultant with significant expertise will help you create a solid foundation for your company. The consultant is here to assess and to provide you with different business strategies, trends, techniques, and ideas. Something that’s highly appreciated in a city so competitive as Dubai is.
It’s helpful to count with an extra pair of eyes that come to you with honest opinions and valuable advice. At Dubai Business Services, we understand how proud and confident you are about your business idea, and we are here to help you develop it in the best context with the most profitable outcome possible.
Hiring consultant companies in Dubai will save you time and money, starting a business in UAE is not difficult. However, you need to be aware of the market trends and the legal steps to properly open a business.
Consider, for example, not only knowing exactly what you need to do to start a business in Dubai but also having someone next to you to solve any doubt or unexpected issue that comes up during this starting phase.
It’s not only about having all the paperwork, it’s also about defining short and long-term goals that you and your company are actually able to reach
Having a consultant on your side speeds the settling process, making the inauguration, growth, and expansion phases of your company not only faster but more stable.
Now that we have discussed why hiring consulting companies in Dubai is a clever decision in terms of efficiency and money-saving, we can now talk a little about how to start a successful business in Dubai shortly.
Low Cost Business Setup in Dubai
We understand you are looking forward to starting a low cost business setup in Dubai, and even though future profits will be worth it, it is better to always start a business with as much capital as possible.
In Dubai, especially in free zones, rules change depending on the type of business you are running, and how ambitious you wish to be towards your profits.
To know more about running a business in Dubai free zones, please contact us, and let’s schedule a meeting to offer you advice focused on your business type and personal goals.
Choose Your Business Type
To begin with this journey, you need to choose a specific type of business to work with the free zones.
Dubai is an industrial city; it is open to many different types of businesses, which is a quality that many entrepreneurs look for in a new city.
Determining the type of business you are about to run also determines the license that it will require to function properly. You will find commercial, industrial, and professional licenses, including those related to jewels, animals, food, cars, hotels, rental services, mobile stores, and others.
If you are not 100% sure where your company or business idea stands on, simply give us a call, and we will help you decide. Even if you have a shoe selling company, if it depends heavily on export and import matters, maybe it would be more profitable to select a free trade zone related to transportation, than one related to selling and clothing.
This is why choosing a business consultant in Dubai is so important, we could help you save time and money by guiding you through the UAE’s rules and specificities.
Choose Your Business’ Name
Once you see how the UAE regulations work, you will notice that there are very important rules you need to follow, and that includes the name of your company.
Since this is a very religious country, many names referred to Allah or political groups (local or international), are mostly forbidden. And if your business’s name has a real person’s name, then that person must be a partner or co-owner of the company.
Trading names should reflect the nature of your company, and when it’s a brand of a different company, many other rules apply when choosing your trading name.
We can discuss that business name you have had in time for a while, and make it not only ideal for your future customers but also perfectly adapted to Dubai’s regulations.
And to know how to renew trade license in Dubai, all you need to do is get in touch with us. It’s a very fast and simple process.
Select Your Free Zone
Many entrepreneurs choose to locate their company in free zones in Dubai because it allows them not only to own a huge percentage of their business but also because it doesn’t require to have a local sponsor from the UAE.
Local sponsors are nationals who must own 51% of the company. This partner offers the company the chance to be located anywhere in Dubai, not only in specific free trade zones.
Some entrepreneurs see no problem in having a local partner since the location advantage matches better with their budget. However, sponsors must be paid a yearly fee according to the business profits.
If you prefer to locate your business in a Free Zone, you can count on us to get a trade license Dubai and to help you choose the best free trade zone according to your business and your budget.
A small business in Dubai can be very successful, but only if properly guided.
Physical Address and Its Convenience
Dubai is a very stable and profitable city, but if you do not choose wisely where to locate your business, you will struggle with many difficulties that will delay its success.
A UAE business setup depends highly on choosing the right spot in the city. Not only to sell your goods, if that’s the case, but also to guarantee your office is well located, accessible for your workers, and preferably related to the product or service your business is related to.
The details of the tenancy contract can also be discussed with your consulting company in Dubai, whether you are interested in a low cost business setup or a bigger enterprise.
Keep in mind that you will also have to consider basic amenities like storage, furniture, communications, and other characteristics of the physical location that must comply with the law.
For those looking forward to establish a successful company in Dubai, the process is straightforward and quick, and it also helps you obtain a residence visa and work permits for yourself or your trusted employees from abroad.
Once the company is created, you can start granting employment visas for your employees if they also come from abroad. If you work with a sponsor, then this legal figure should also be part of the visa granting process.
We can help you with the documentation your business needs to start functioning in Dubai as soon as possible, and we can also help you to find a sponsor or to grant visas for your employees in Dubai.
Register Your Company
As you see, even though starting a business in Dubai is a simple process, it does have many small requirements that are better solved through consulting companies. And of those requirements is the registration of your business.
Registering a company should be one of the final steps in your journey, and even though the owner can do this step, it is better to count on the expertise Dubai Business Services can offer you.
Once the company is registered, you can open a bank account with all the paperwork you have already done and receive your license. After getting those, you can start your visa application.
We are not exaggerating when we tell you that you could start a business in Dubai in only a week if you have all the paperwork in order.
There are several categories of business setup in the UAE, and Dubai is a city that welcomes almost any kind of enterprise, as long as it’s meant to expand its economic growth and to make it even more attractive and satisfying for locals and tourists.
Whatever business ideas in Dubai you may have, contact us now and let’s discuss how we can make it real in the shortest time possible.
Don’t feel overwhelmed if you don’t know just yet how or where to begin. Dubai Business Services has a qualified and professional team ready to answer all your questions, and to assess you in all the matters concerning the process of starting a business in Dubai.
Allow us to make your company even bigger than it already is, and together, let’s be part of the amazing experience of creating a business in Dubai.