5 Facts To Consider Before Starting A Business In Dubai

Owning and running a successful business in Dubai is a dream of many entrepreneurs. The city welcomes diverse businesses offering higher economic returns. There are numerous other benefits of starting a business in Dubai. But before you start a business in Dubai, you need to consider various other things and plan accordingly.

Below are the 5 things you must know about company startup in Dubai before you start your own business here:

1. Decide the business activity/type: First and foremost thing is to decide on the business activity you want carry on in Dubai. You must know that UAE does not allow for all or any business type. Whatever you plan to run, it must sync with the Dubai standards. The Department of Economic Development (DED) has listed more than 2000 business activities to choose from and operate in Dubai. In case you can’t find you wish activity, you can connect with DED or a well-experienced business setup consultancy like us and discuss. Subsequently, you can know the type of license you would require.

2. Licence type: Depending upon the type of business activity you wish to continue in Dubai, you need to apply for the type of license i.e. professional, commercial or industrial. Where, the professional license is for activities such as education, IT services, consultancy, event, management services etc. Commercial license is for trading activities & industrial license is required to conduct manufacturing, semi-manufacturing & other industrial activities.

3. Place of business setup in Dubai: Next thing is to decide on the place where you wish to set your office i.e. in the Mainland, Free Zone or Offshore. There are numerous factors that affect the selection of place such as ownership of the company, commercial activities, business requirement, taxation, etc. The laws of Free zone company formation differ from Offshore or Mainland company setup regulations, so you need to know it all before you set up your company in Dubai.

4. Analyse the cost: Before starting a business in Dubai you need to analyse your funds. You must know there are several operational costs such as trade name registration, getting business license, processing visa etc. and government fees in addition to the investment required solely for business in UAE.

5. Legal Formalities: Next you need to stay well-informed about legalities such as documentation, paperwork, share capital, getting a trade name and ownership etc in Dubai. The DED has certain rules for all legal formalities and you must not waste any time once the process of setting up the business has started in UAE.

Conclusion:
Contacting legal consultancy in Dubai: One of the most important things is to consult a company setup consultant in Dubai and get proper guidance on how to set up a business in Dubai. You can contact us, Business Link UAE for any assistance on how and why to start your own business in Dubai. We are one of the oldest and most trusted business setup consultancies in Dubai offering various services such as company setup, PRO services, visa services, local sponsor and corporate sponsorship for business startup in UAE.