Before setting up business in UAE, here are some tips.
Dubai is the first emirate in the UAE to open its property market to foreign ownership. The government has established an entirely different set of rules and regulations to foreign investors. This means procedures are fast-tracked.
The emirate carries the most successful economic performance within the GCC region. It offers a stable financial climate, which helps businesses from start-ups to international companies operate successfully.
Company Registration in Dubai
The first step is to find a reliable legal services team. Otherwise, you’ll find yourself under bureaucratic hurdles, full of paperwork. Save yourself from the stress of registration by hiring an expert PRO team.
Applying for registration is through the Department of Economic Development (DED), and preliminary approvals should be obtained from the Licensing Section. Registration for membership at the Dubai Chamber of Commerce and Industry (DCCI) is also required.
Here are some of the advantages of hiring a PRO team:
– Focus on your core business to enhance profitability and productivity.
– Process and handle all your transactions efficiently and without any hassle.
– Eliminate management inductive costs and overheads to run such operations
– Generate major savings on unnecessary payroll
– Exemption of additional employee liabilities
Setting up a businesses in Dubai can provide you with good incentives but local knowledge is crucial for foreign investors. A highly qualified team works to ensure your products and services are fully legalised.
Business Partner in Dubai
Legal requirements can be strict. If you set up outside the free zone, the law requires that you have a local partner who will hold the majority interest of the business. Be it a company or an individual, the partner will own 51% of the company.
For start-up entrepreneurs, having a local sponsor is a legal Dubai Economic Department (DED) requirement. Finding the right sponsorship for your company is one of the core issues to start your business in Dubai.
Sponsorship takes charge of all the legalities and liaise with the relevant government branch, associated with your start-up. It includes planning, filling up application forms, processing requirements, finalizing legal documents, and more.
Business Setup Services in Dubai
Dubai remains the best place to flex your entrepreneurial muscles, set up a company, or open an offshore branch. The number of expatriate residents has reached the two million mark. Hiring a legal team will cost you money, but it’s worth every dollar.
Source by Manfred M Steichler