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All You Need to Know When Starting a Business in Dubai as a Foreigner
Starting a Business in Dubai as a foreigner, it can be confusing. We have a compiled a list of the things you need to pay close attention to when opening a business in
Dubai.
Have a Business Plan in Place
Of course, it is difficult to pinpoint everything with accuracy, but having a business plan in place ensures that you are likely to stick to it and make minor changes only when required. If you know how much your profits will be, then you can plan everything accordingly. You are unlikely to splurge on a massive renovation of the interiors if the profits aren’t going to cover it. Too many entrepreneurs make the mistake of not having a business plan when they launch their business. The results are only there for everyone to see.
It is a good idea to run your business plan by one of the more reputed business setup
consultants in Dubai. They can tell you of potential pitfalls with your business plan, such as how the sale of alcohol is not readily permitted in the United Arab Emirates. This
information can help you redraw your business plan, if needed, and launch your business only if everything looks fine on paper. There is no guarantee that everything will happen according to plan, but it can steer you in the right direction.
Make Sure You Get the Right Business License
There are about 2,100 commercial activities possible in Dubai. A business setup consultant who has had experience with freezone company formation in Dubai would be able to tell you how you can get a Business License. For instance, if you were a website developer, you could either get a freelance license or set up your own company. If you choose to open your own company, it is necessary that you lease commercial space for your company before you can
be granted a Business License.
If you were looking at options for business setup in Dubai, the business setup consultant who you choose to have in your corner can advise you on whether the mainland
or a free zone would be best for your business. Some business activities are permitted to be carried out of virtual offices on the mainland. It is also not hard to find suitable office space on the mainland, where you are more accessible to your clients and your clients are more accessible to you.
Starting a Business in Dubai as a foreigner
A business setup consultant with experience in Mainland company formation in Dubai can
inform you of the right type of company structure that would be best for your business. Some business activities such as Defence and Construction require you to have a Local Partner who will own 51% of the company, so it needs to be incorporated accordingly. Some business activities such as banking / finance / investment cannot be carried out by a Limited Liability Company, so the right kind of company matters.
Ensure that Your Tax Affairs are in Order
Choose a Reputed Business Setup Consultant
SetUpACompany.ae is a provider of corporate services that specializes in business
formation in Dubai, United Arab Emirates. AA Associate team has been handpicked for their
expertise in Business Consulting, Tax Advisory, Legal, and Corporate Finance. We have been of assistance to clients from 100 countries around the world, and have an excellent client satisfaction rate so far. For more details, please call +971 50 427 3503 or email us at contact@setupacompany.ae
