Whether you want to open a shop, or a major enterprise, company formation in Dubai can be a little complex, especially for starters. You should have a thorough knowledge about the local market where you are willing to set up your business. Taking the guidance of a business advisory firm is always recommended, as they can help you with setting up your business and complete all the paperwork, legal formalities, registration process etc. and also in running it successfully. Here is the best advice from the professional advisors on setting up a business in Dubai. Take a look.
· Choose your business type
The type of business that you opt for will help in determining the kind of license that you will need from the government for company formation in Dubai. The basis of your company operations are explained by the type of license that you possess from either of professional, commercial or industrial licenses. However, you also must be aware that in order to start certain businesses, like trading of food or jewelry, legal consultancy services, veterinary facilities require approvals from various other departments of Dubai government.
· Ownership for foreigners
If you are a foreign national then you would be requiring a license and location in any of the free zones of Dubai in order to get a complete ownership of the company in Dubai. There are more than 30 free zones in Dubai, and each of those cater to a certain type of activity, for instance You can start an internet business by getting a license in the Dubai internet city, or for an automobile business you should get a license in the Dubai auto city etc. however, if you need to operate locally, then you must get a license from the Department of Economic Development (DED).
· Legal formalities and trade name registration
After choosing the location and the type of business that you want to start up, you need to follow specific rules and regulations regarding setting up your company. Each of the free zones has a certain set of laws and restrictions, which are required to be adopted strictly. Secondly you also should have your company’s trade name registered properly, as this again is a crucial aspect of the legal procedure.
Adam Global is one of the best business advisory firm in Dubai that can help you to start a business in Dubai very smoothly.