As an entrepreneur, industrialist or so, these corporate figures always look out for opportunities. These business opportunities are a key factor that contributes to the growth of the brand that is being promoted. As a fact, owners put funds in different areas to be known in the global market. Given that, there are many countries that are chosen for corporate expansions. One top choice for majorities of industrialists, foreign businessmen, etc. is Dubai. Situated in the UAE, is a hub that promotes trading various commodities and services. In fact, the government plays a pivotal role in developing this industry and is a destination chosen by successful corporate investors.
However, if you decide to enter this market, you need to be aware of certain things. Since, you’re not a local, you need to know the procedure of starting up an enterprise. As a fact, you would have to get in touch with a sponsor or agent to guide you through the process.
With that said, here’s what you should consider before investing:
- What type of operations or activities are you planning to do?
For any company that is being registered here, owners are required to apply for a license. As a fact, the government issues licenses and permits for various activities. Therefore, you need to make sure that you’ve developed a strong business plan keeping the present and future in mind. You could get further support in making this and the following decisions with a reputed consultancy firm.
- What type of corporate registration would you want to apply for?
Apart from the licenses, there are different types of firms that are registered in Dubai. Therefore, select between each of the following to obtain license for the company;
- Local LLC – partnership corporates
- Freezone company– full ownership businesses
- Offshore firm –based set up in UAE to trade outside the Emirates
- Which free zone, would you consider?
Of all the above options, majorities of investors prefer free zone companies, as they are able to benefit from taxes, ownership and so on. As a fact, make sure to choose from the 35 zones, of which, Dubai is the most fast growing region.Furthermore, research about the goals in these zones to find a match with your investment objectives.
- Selecting a bank
With the help of a reputed business center, you could search for the best bank to open a corporate account. Furthermore, you have a great opportunity of working with such a center to complete other important work as well. As a fact, you could enjoy maximum freedom in trading or offering services to the local and international markets from Dubai.
Starting a business in your homeland is quite easy, as you’re familiar with the laws, regulations, etc. However, when it comes to the situation of commencing a venture overseas, it requires an in depth understanding of that culture and business protocols. Therefore, if you’re looking for successful establishment of a business in Dubai, consider these pointers.