Dubai is a booming business hub and has been fronted as the next frontier in the business world, thanks to its robust and resilient economy and enabling business environment. No wonder Setting Up A Company in Dubai is an attractive place for investments around the world ever since it demonstrated its economic stability in the face of international turmoil and economic shocks.
The growing tourism, booming international trade have all contributed towards making Dubai the most sought-after city to invest in by some of the global investment leaders. Here are some of the things every potential investor looking to invest in Dubai needs to know beforehand. Going through this piece will help avoid some of the common challenges many investors go through when trying to establish a profitable venture in the United Arab Emirates.
Setting Up A Company in Dubai
Identify a Local Sponsor to Help You Jumpstart your Business
The Dubai business environment can be complex, especially if you are new in the city. Therefore, you need to choose a sponsor who understands the local arrangement and all that happens in the world of business in Dubai. If you really want to start a business that will grasp the attention of the market then you need someone who can register it as a local LLC Business. The Dubai National must have a majority shareholding for him or her to qualify the definition of a sponsor. This person or company will help to give your business a local face that is saleable to the people of Dubai and beyond.
Choose a Free Zone If You Are Looking to Full Own the Business
If you want to do business without having a local sponsor is by setting it up in Free Zones. However, you need to Setting Up A Company in Dubai that is allowed or eligible to enjoy subsidies that walk with companies that establish in such zones. If you are a startup, the Free Zones offer great benefits, including the following:
• 100 percent ownership of the company regardless of your citizenship or nationality
• Quick and unhindered startup
• Duty-free customs boundary
Seek and confirm your visa eligibility
Since you are going to be a businessperson in a foreign country, you will certainly need to secure a visa. Conducing a migration agent in Dubai to help you navigate the complex visa application process will help you succeed in obtaining a visa.
Register your Company
If you are not aware of the processes, hire a local agent to help walk you through the registration process and help you obtain the certification of incorporation and a trading license.
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