Things you should do while starting a business in Dubai
Starting a business in Dubai can be a great venture! Dubai is considered as a hub of travel, tourism, entertainment, business, education, and job opportunities. The booming economy of the UAE and specifically Dubai attracts more and more people across the globe for expanding their business and reaching to the masses.
In addition to the conventional businessmen, the city also attracts passionate entrepreneurs to bring their ideas into reality and allows them to start their business in Dubai.
So, if you are also planning on starting business in Dubai, then the following points will help you to open the gateways to your success.
- Do You Research Thoroughly
Starting business in Dubai requires extensive research of the market and a sound understanding of the area. Be it import or export services, rendering consultancy services, building an e-Commerce website, or opening a confectionery outlet. You can unleash a profitable market after completing your research about the region.
- Appoint A Business Setup Service Provider
Most businessmen blindly follow the trend of starting a company in Dubai, but they goof up because of the lack of knowledge. Therefore, it is always better to hire a professional to help you with everything related to starting a business in Dubai. These professionals have knowledge of the market and have an extensive knowledge on starting a business in Dubai. They even guide you through selecting the products and services, as per the behaviour of the target audience.
- Choose the Legal Structure for Your Business
There are various business setup opportunities in Dubai, but they have complex legal procedures and rules for setting up a company. Professional business setup service providers help in choosing and making the right decisions. Businessmen have to opt the legal structure of the company. It is advised to choose the one that you are most comfortable with, and make sure you get it approved by the Department of Economic Development. When you hire professional consultants, they guide you on the legal structure and help you select the one that works best for you.
- Getting a reliable UAE Local Sponsor
Starting business in Dubai requires a local sponsor as a partner in the company. The local sponsor as a partner will own 51% shares of your company. They will not have managerial powers in the company’s decisions and neither will invest in your venture. Thus, you will have to take care of managing all the finances on your own and will be solely benefit the profits or bear the loss. Only a nominal sum will be paid to the local sponsor as an annual fee. This sponsor can either be an individual or a company owned by an Emirati.
- Ensure Security and Safeguard Your Terms
Through the process of company formation ensure that you are secure and have safeguarded the terms of your business. It is better to hire a professional consultant as they guide you through the government regulations and provide you all the details that you will need before setting up your business. Also understand that business setup in Dubai involves lot of documentation. Hence, at every stage ascertain the type of documentations and certifications you are getting into.
Still not sure how to get started? Speak to DBS Business Setup in Dubai. We are the leading business setup service providers in the UAE offering A to Z company formation solutions.
Contact us on +97145667485 or WhatsApp +971555813673 to request a call back. For more information send us your enquiry here https://www.dubaibusinessservices.com/contact-us/