In Europe and the USA, every year thousands and millions of new businesses are set up. When we think of all those companies, there is a lot of competition to deal with. And talking about starting a business in your home country involves an endless list of taxation, compliance, and other legal measures to be taken care of. What if experienced business setup consultants in Dubai told you that you could start your dream business and avoid all the above-discussed hiccups? You would be very happy, right?
Dubai offers you all of these opportunities and many more without burdening you with taxes and other endless compliances. That is one of the key reasons why Dubai is one of the places where an increasing number of people are starting businesses. If you are planning to start your business in Dubai as well, then in this blog, Infolinks Business Administrative Services is sharing 11 must-do things before you set up your company. So read until the end without missing any parts.
1. Difference Between Mainland, Free Zone, And Offshore Jurisdiction
The difference between Dubai’s jurisdictions is the first thing you must understand before establishing a business here. Each zone has varied ownership statuses, business requirements, and tax regulations. Starting a business under the incorrect laws and in the incorrect jurisdiction can pose a big problem. You can avoid those problems by hiring business setup consultants in Dubai who are experienced and have rich knowledge of all the differences.
2. Choosing the Right Business Structure
You can pick from different business structures, such as a Limited Liability Company (commonly referred to as an LLC), a sole proprietorship, a joint venture, or a few more. The LLC, particularly an LLC in a free zone, is the most well-known and popular option for entrepreneurs in Dubai. The alternative with the lowest taxes is an LLC in a free zone. Additionally, the tax system is fairly straightforward, which makes launching a business very simple and easy. Learn more in detail by reading our blog on choosing the right business setup.
3. Arrangement For Sponsor
You must have a local business partner or sponsor if you decide to operate from a mainland jurisdiction. You don’t need one as an LLC in a free zone, but having one isn’t always a terrible idea. Certain commercial setups might need a sponsor or local partner, regardless of the jurisdiction you choose to operate in. When planning for business setup in Dubai, plan it with seasoned companies such as Infolinks Business Administrative Services, as we offer a wide range of services that can meet all your essential needs, such as helping you find a local partner or a sponsor.
4. Visas For Everyone Involved In Your Business
To start your business in Dubai, you’ll need to apply for a variety of visas. A visa is required for you, your family, and any non-Dubai residents working for you. Almost all businesses can apply for a visa to work in Dubai, but you should still confirm your eligibility and the conditions in the UAE. Working with business setup consultants in Dubai can make your visa application process quite easy and stress-free.
5. Manage All The Paperwork
Even if obtaining all the required registrations and visas for your business setup in the UAE is a straightforward and reasonable process, it’s still crucial to prepare all of your paperwork in advance. Nothing that might halt the procedure or give you a less-than-stellar impression should be done. To avoid common hurdles, hiring Infolinks Business Consultants will be beneficial for you.
6. Hire A Business Setup Consultant
You should hire one of the best business setup consultants in Dubai and inquire with them about all the licenses and compliances that must be done. You can also consult with them if you intend to establish a business in Dubai and wish to take advantage of the amazing opportunities available in the free zones.
Your consultant will have someone on the ground in Dubai to hunt for probable office spaces and preconditions that are appropriate for your company’s operations and fall within your startup’s budget.
7. Local Bank Account Opening
To run a business in Dubai, you’ll need a local bank account. Make sure you are aware of all the minimal conditions and fees before you confirm and open a bank account in the UAE. When choosing your UAE bank account, keep flexibility, convenience, and independence in mind, but also take into consideration the cost of account management. Saving money is one of the key factors that influence people’s decisions to set up businesses in the UAE. Don’t let high financial expenses derail that objective. Hire renowned business setup companies in Dubai, such as Infolinks Business Consultants, to get help with your bank account opening in Dubai.
8. Choosing The Right Business Category
To get the right business license, you need to first select the right category when opening a business in Dubai. Once you’ve decided on a business category, you can only provide the products and services associated with that category. That is why, when you decide on a business setup in Dubai, choose accordingly and wisely! Verify that the category corresponds to your intended business model. There are more than 2,000 categories to choose from at the Department of Economic Development. Read more about how to start your dream business in Dubai in our blogs.
9. Get Business Activity Approval
Dubai is a fairly advanced and multicultural city, but it nevertheless maintains some Arab cultural traditions. Every company must respect and be aware of these traditions. Because of these customs, several company categories have limitations.
10. You Can’t Always Hire Your Employees!
Your business must hire a local manager before applying for licenses and other city clearances. Despite hiring a local manager, you might not always be allowed to hire your employees and manage those procedures. In this situation, you will need to hire contractors to help you find local Dubai workers.
11. Be Respectful of Cultural Differences
Just like in any new country, there are cultural differences in Dubai that you should be aware of. First off, a lot of people are dressed in traditional Arab attire. Although it is not necessary, you should prefer to dress modestly in Dubai. In some countries, it is even against the law to dress in a way that is too revealing.
Get in touch with Team Infolinks to start your business setup in Dubai smoothly and manage it well.
