How to start a company in Dubai is one of the most frequently asked questions by foreign residents who are considering starting their own companies in the United Arab Emirates (UAE). Dubai is now considered to be the new business hub of the Middle East with many multinational corporations establishing operations here.
In this regard, the need for business documents has grown manifold with the government of Dubai encouraging foreign investors to set up their companies here. Companies that want to establish an office in Dubai or wish to do a share takeover of a multinational corporation are usually faced with many procedural hassles.
Since Dubai is an important tourist destination in the World and hosts the world’s tallest and fastest building, visa procedures and legal requirements are pretty high. However, the recent slowdown in the oil demand and the stricter regulation on the currency exchange rate is being looked upon as reasons for this.
In order to facilitate the movement of personnel and goods from abroad, the federal government has created several international emirates like Dubai which have set up their own laws governing companies in these emirates.
In order to know how to start a business in Dubai, it is advisable that you seek the help of a seasoned and experienced International Business Corporation or an International Business Company. These companies will set up the necessary visa formalities and provide necessary guidance on how to start a business in Dubai according to your personal or business requirements.
Another important aspect of how to start a business in Dubai is to find out from the authorities of the free zones in Dubai regarding business permits and visas. The Dubai authorities offer a system of “no visa, no fee” commercial operations which means that companies have no costs for starting up and running their business. This system attracts many small businesses to this place so that they can also enjoy the benefits of the “no visa, no fee” system.
When you are looking for details on how to start a business in Dubai, it is advisable that you carry out extensive research about the market and conditions of the free zones. This will help you find out whether your company will be able to survive in this environment. For instance, if you are planning to start a food service then there are certain regulations that you will have to comply with in order to serve alcohol or food items to people in these areas.
On the other hand, you will not be allowed to serve coffee, tea, or soft drinks in these areas as these items are considered to be non-conformist. In addition, you should also check with the Dubai government officials on how to get a company name for your company so that you can avoid problems later on.
Once you have found out how to start a business in Dubai through a free zone setup agent, the next thing that you will have to do is to register your company name in the Companies House. The Companies House registers all the official documents of a company like office space, the name of the director, and the number of directors.
Once you have registered your company name in the Companies House, you can now look for a free zone. These free zones are usually a good place to start your business as they provide you with a conducive environment where you can start your business without any hassles at all.
However, before you start your business, you need to determine the kind of business you want to set up. There are several different business options available in the free zones including call centers, jewelry shops, banks, bookstores, cafes, restaurants, etc. You can even set up a franchise joint venture with one of these businesses so that you can easily serve the people in the area.
However, it is important that you determine the niche that you want to serve before starting up your business. As mentioned earlier, in Dubai, there are various free zones that you can choose from, but all these options have their own set of advantages and disadvantages.
If you want to start your business in Dubai, you should consider getting a freehold property. A freehold property means that the ownership of your business actually belongs to you don’t have to worry about paying rental fees or getting financial backing for your business. In other words, when you get a freehold property, your business actually becomes an investment opportunity. Some of the properties that you can get in the free zone include flats, villas, condominiums, and so on.
Once you start up your business, you should then find out how to get a bank loan in Dubai. There are many banks that offer loans to businessmen, but you can also apply for a secured loan from Dubai Investment Corporation (DIC). This is one of the easiest ways on how to start a business in Dubai because the company gives you freehold property and you give them the money that they need. So, if you have an investment interest in Dubai, you should definitely think about getting a loan from the free zones.