5 Do’s to Remember When Planning to Start a Business in Dubai Dubai is home to investors and entrepreneurs from all over the world to start new and profitable businesses. Every year, more and more foreign investors and business people come to the emirate to benefit from numerous opportunities and an excellent environment to set up and operate business activities. Exemption from tax rates, a strategic location, and a straightforward company incorporation process, Dubai allows foreign investors to benefit from the highest returns and profits. Starting a new business in Dubai doesn't have to be difficult, but things could become a little complicated without the right assistance and support at the right time. It does require some local and specialized knowledge in company formation to avoid any delay or legal trouble during the registration process. The following advice will benefit you when you start a business in Dubai. If you want to be the sole owner of your business, choose a free zone to set up your business. Remember that opening a business in one of the Free Zones is the only way to 100% ownership of your business as a foreign investor in the UAE without having a UAE citizen act as your partner. However, for businesses like restaurants and retail stores that must operate in urban markets, this is not practical. Free Zones provide three major benefits for a new business:
100% ownership Speedy startup Duty-Free customs
To start a local business in Dubai, choose a local sponsor who is a citizen of the UAE. There are numerous business opportunities in Dubai and the other Emirates of the UAE for investors from all over the world. However, you need a register a locally registered LLC business if you are serious about starting a business that must tap into Dubai's local market and diverse population. Additionally, companies that do business with the government must register with a local sponsor for company formation. A UAE national must be included as a partner with 51% shareholding, known as a local sponsor.' A local company gives you the freedom to locate your business anywhere in the city. This is a boon for a business startup in Dubai because it allows you to choose the best location for your budget. Choose a location that balances suitability, cost, and convenience to run your business. Continue Reading...