Setting up a business in Dubai is a dream for every business aspirant. The bustling business hub of the Middle East, Dubai grabs the attention of entrepreneurs from around the globe. As the commercial capital of UAE and the gateway to other countries in Eastern Europe, West Asia and Africa, Dubai has ample scope for setting up new business ventures.
The Dubai government comes out with the most welcoming policies to set up a business in the city. Foreign investment is a major factor that contributes to the economy of Dubai. Hence the restrictions for foreign investors are minimal and the city offers a variety of business models to choose from.
Before setting your foot in Dubai, there are certain things to pay heed to. Armed with this knowledge, you can take the initial steps to setting up a business in Dubai.
A strong will and passion: Starting a business in Dubai needs a lot of daring coupled with passion and a good grasp of the initiative you are about to embark upon. If you have that, half the job is done. The liberal governmental policies and the cutting-edge infrastructure is the best milieu for any business endeavor to flourish.
Know the world around you: To set up a nascent business in Dubai, it is mandatory that you know the area well. You should know the scope of your business, your business potential, your competitors and market fluctuations before buttoning up a smart business strategy.
Local partner or single owner: Though a local business partner is handy, if you want to reign in your business realm without a local associate, you can conveniently choose a free zone area to start off your business. Dubai has several free zone business areas where you can set up a company. Most of the laws are business-friendly and foreign investors are often encouragingly given incentives to kick off new business initiatives in Dubai.
A bit of legal assistance: Venturing into a new business in an unfamiliar locale can be risky sometimes,from a financial perspective. Be prudent enough to seek legal assistance from the beginning. This can save you from getting into trouble unwittingly. A lawyer can lead you on the right path and make your business a successful venture.
Negligent taxes: Setting up new business in Dubai can be conveniently done as the taxes are a bare minimum or can even go to the level of being non-existent. Only certain segments of Dubai economy like oil, banking and processing of tobacco make it to the list of taxable business sectors.
Good research, good start: Dubai favours emergent businesses banking on the fact that new enterprises add on to its economy. A deep insight and a good research will give you a proper launch pad to set up a business in Dubai. Exporting and manufacturing are enthusiastically supported by the government.
Well, if your dream of a new business setup is already well-planned and satisfies all the aforementioned points, you can always approach a registered company formation agency and get on the hassle-free way to start a business of your own in Dubai.