If you’re starting a business in Dubai or planning a vacation there, you should know a few things. There are many regulations to follow, so heeding the tips and tricks of the trade will go a long way toward ensuring your business gets off on the right foot.
Decide what type of business you are interested in:
The first thing you’ll want to do is decide what type of business you’re interested in. This could be a small-scale venture or a large-scale operation. If you hire employees, you’ll need to ensure their visas are in order. You’ll also need to decide where you’ll set up your company. Typically, you’ll want to rent a space in an office building or commercial property.
Know about local laws:
A good place to start is with the local laws. For example, the rules about the number of business permits you can have are a bit more liberal than their counterparts in other countries. You’ll need to get various consents from authorities, but the requirements are more manageable than you think.
Hire professional service to help you navigate the process:
The best way to ensure you’re doing everything possible is to hire a professional service to help you navigate the process. Using a consultant will also ensure that you don’t miss any of the kinks along the way. Having an expert on your side will allow you to make the most of your resources while in the UAE.
Do some research:
It would help if you also did some research on what the rules are for your particular situation. There are several free zones in Dubai, each of which has unique rules. Some locations only allow specific activities, while others offer several options. If you’re going to spend the time and money getting your new company set up, you’ll want to ensure that you’re taking advantage of all of the opportunities the country has to offer.
Choose between an onshore or offshore establishment:
Aside from the standard legal and financial documents, you’ll also need to fill out a short form titled “Company Formation,” which will list all the different types of companies that can be set up in Dubai. You’ll be able to select from a few different types: private shareholding companies, branch companies, and LLC companies. You’ll also need to choose between an onshore or offshore establishment.