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Interested in starting a business in Dubai? If so, you aren’t alone. It’s an attractive area for business investors due to the international market and economic stability present.
The current market trends present in Dubai offer an array of opportunities for foreign investors. For example, there’s the ability to get involved with the import and export of commodities or to take advantage of the continually growing tourist traffic of the city.
However, before starting a business, it’s necessary to know the various facts associated with a startup business in Dubai to avoid some of the most common issues experienced when trying to launch a profitable enterprise. Information about this process can be found by reaching out to Fujairah Creative City or you can keep reading to get to know the do’s and don’ts of opening a business in the UAE here.
1. Find a Local Sponsor to Begin a Local Business Startup
You need to understand all the facts associated with starting a business in Dubai to avoid issues encountered while launching a successful enterprise anywhere in the UAE. There are several business opportunities available in this area, along with other Emirates of UAE. However, if you are dedicated to starting a business and exploiting the potential of Dubai, then it’s necessary to have a locally registered LLC business.
2. Select a Free Zone to Own Your Business Completely
Remember, the only way for a business startup in the UAE to begin without taking a UAE national acting as your partner is to locate the business in one of the Free Zones. However, this isn’t a practical option for businesses that need to be in city markets, such as retail stores or restaurants.
Additionally, any business working with the government must be registered with a local sponsor. There’s also the factor that rental or purchase in the Free Trade Zone districts may be too high for business startups to handle.
However, there are benefits offered by utilizing these Free Zones. These benefits include:
- A duty-free customs boundary
- Fast startup process
- 100% ownership
The option to use the Free Zones or not is something each business owner has to figure out for their business needs and the setup of the business.
3. Choose a Location to Optimize Costs, Convenience, and Suitability
Another crucial step to keep in mind when planning a Dubai-based business startup is the right location. Establishing a profit-based business inside the city would not do much good, even with the growing economy, if the clients and customers can’t get to you.
It’s essential to set up your business in a location that’s going to be most profitable for the type of business you have. Finding a location in the right city can be beneficial for an office or shop, as long as those nearby know what you have to offer.
If you plan to establish a business in a Free Zone, it’s important to base your decision on costs, distance, and criteria. Make sure to find a commercial property location that offers the amenities the business needs for success.
4. Confirm Visa Requirement and Eligibility
To run a business startup in the UAE, you have to have visa permitting for you and your workers to live in the area. Visas are allowed for the majority of business types.
The number of visas available varies based on the type of business, so it’s a good idea to confirm it’s possible to get the visas before trying to establish the business.
Business Establishment in the UAE
With the tips here, you will find it is much easier to establish a business in the UAE. There’s additional help available, if needed, as well.