- September 5, 2020
- Posted by: DBS Editorial Team
- Category: Dubai Business Services
Things you must distinguish before setting up business in Dubai
Setting up business in Dubai or anywhere across the UAE is an extremely ambitious decision. The city of Dubai continues to enhance the concept of sustainable business. The competitive economic outlook is adopted with a flexible approach – be it market dynamics, alteration in rules and regulations, commercial diversity, etc.
The strong infrastructure, innovative technology, and upbeat logistics system is also vital in underpinning the growth of Dubai. All of this has increased the approachability among investors wanting to start their companies in the region. Moreover, the cooperation between public and private sector has further expanded the scope of setting up business in Dubai. Nevertheless, business setup can be a complicated process if you do not have an advisor or an expert to help you.
Setting up business in Dubai involve and lot of decision making and you are required to distinguish several factors through the process. Hence, in this article – we at DBS Business Setup are here to guide you! Being the best business setup service providers in the UAE, we aim to help you understand the entire process of setting up a business.
Here are the top 7 you must distinguish before setting up business in Dubai:
Understand the UAE Commercial Law
The revised UAE Commercial Companies Law (Federal Law No. 2 of 2015) (“CCL”) was out into effect on 1 July 2015. Setting up business in Dubai involves lot of legalities and understanding the commercial laws associated to your business activity can be helpful. Moreover, distinguishing the CCL can help businessmen stay focused, especially during the challenging economic climate even after the setup is done. Understanding the UAE Commercial Law also allows you to be better equipped to handle the unforeseen situations that you could confront during the process of company setup. You may also choose to consult an expert for Free with DBS Business Setup.
Study and Research your Jurisdiction
When registering a company under a particular jurisdiction there are certain limitations and criteria involved that may or may not be feasible for the regulation of your company. Thus, before setting up business in Dubai, it is advisable to check your options and apply in a region which suits you the best. If you are still not sure, book a free consultation with our business setup experts. Analyse all the jurisdictions Dubai as well as the entire UAE has to offer! Distinguish the right jurisdiction before you conclude on your choice.
Clean and Systematic Paperwork
A sorted paperwork makes registering the company a swift and an easy process. The most important documents involved Dubai company registration are the approval from the Development of Economic Department (DED), consent letter from the Dubai Chamber of Commerce and Industry and certifications from the departments such as UAE Central Bank, Finance and Industry Ministry, Economy and Commerce Ministry, Health Ministry or any other government agencies – depending on the nature of the company being registered.
Avoid Redundant Costs
Even though the capital investment is not a requirement under every jurisdiction, setting up business in Dubai could be an expense if you have insufficient knowledge at hand. Delay in certification or unaware of procedures may add-up the costs and bring in unwanted expenses during the process of business setup in Dubai. Thus, being comprehensive about the required licenses, documentation, authorizations, etc can be helpful. Thus, try and avoid redundant costs or simply ask an expert before you apply for the registration of your company.
Follow the Orderly Procedure
Ensure that you follow the Dubai business setup procedures in a timely order. Choose a Sponsor – Get Name and Activity approval from DED – Get a Business Premises – Create a Memorandum of Association (MOA) and submit it to DED – Submit the MOA and License application to DED – Pay the fees and charges of the departments – your company is registered! If you feel it is difficult, simply speak with our business setup consultants at DBS Business Setup.
Avoid Legal Fiddle
This point applies to businesses not just in Dubai, but also for business setups and company anywhere in the UAE. It is extremely important while setting up a business in Dubai to follow all the legal procedure. Do not fiddle with the legalities involved during the registration process, there can be ‘trick in the trade’ but do not fall lewd to the law.
Assistance for setting up business in Dubai
If you are not sure how to go about and get your company registered in Dubai, just ask for assistance. There are several business setup companies in Dubai, that can assist you through the registration process, with opportune notification, one among the leading business consulting companies is DBS Business Setup.
DBS Business Setup is a prominent business consulting company offering corporate assistance to entrepreneurs all over UAE. To know more or book a free consultation click here https://www.dubaibusinessservices.com/contact-us/ . You may also talk to a business consultant, simply Dial +97145667485 or WhatsApp us on +971555813673.