Dubai is amongst the seven emirates of UAE and is quite a popular business hub for many aspiring entrepreneurs around the globe. The relaxation in taxes here is one of the main reasons of being selected as the location for a business startup. Even the recession period has not stopped Dubai from alluring people to set up their business in this emirate. Whether you are thinking to start a technology business, or are thinking to set up a hospitality company, or just about any company formation in Dubai, you must take the help of a reputed advisory firm who can guide you throughout the procedure. Here are five things to remember to set up a company here:
1. Local sponsor: Dubai is a location that is filled with a plenty of business opportunities. In order to start up a business in the city of Dubai, you would need a Dubai national or a local of Dubai who can sponsor your business in the city. He or she will be 51% shareholder of your business and not necessarily an active partner.
2. Free zone for 100% ownership: if you want to own the business entirely, then you must choose an appropriate Free Zone in Dubai where you can set up your company. Along with complete ownership, you are also offered quick start up and tax free customs boundary.
3. Most suitable location: make sure to choose a particular location in Dubai, (whether in a free zone or in the city) that optimizes the objectives of your business and its costs, and also is convenient to reach out to customers.
4. Visa permits: having an eligible visa that gives you and your employees the permission to stay in Dubai is more than essential for starting a business here. The procedure of acquiring a visa is open to all investors and is not very strict. Your local sponsor will be applying for visa for you, or you have to do it for yourself for a free zone business.
5. Hire a company setup firm: investing in a company setup firm is always a clever thing to do as you will not only be helping you to register your business, but will also take care of all necessary documents required for starting your business legally in Dubai.
Adam Global is one of the experienced and reputed business advisory firms to help you in forming a company in Dubai and also run it smoothly.