Dubai is a highly developed, ultra-modern city in the United Arab Emirates that connects east and west. It is considered one of the best environments to start and run a business .
Contents1. Do your homework.2. Define your business.Commercial LicenseCommercial Jurisdiction3. Get in touch with experts for the installation procedure. Make it easy for youIts economy has grown a lot, going from being dependent on oil (which now represents only a measly 1% of its GDP) to hosting thousands of businesses every year.
Over time, Dubai has quickly become a prime choice for the headquarters of many companies that it could very well be the start-up capital of the world . Case in point:the city issued more than 15,000 new business licenses in the first quarter of 2021 – 19% more than in 2020.
Yet, if you want to succeed in the city, you will need more than just a Dubai Brand Identity to keep your business rolling.
Starting a business can be a complex affair, but with sufficient and correct knowledge and the help of professionals, things could be easier. That said, here are the top three expert tips you need to know when setting up a business in Dubai :
Every business needs thorough preparation to operate, and starting a business is no exception.
There are mountains of information for you to dig through and digest. But where to start?
Experts recommend having a good look at the stats first to find out what works, what doesn't and what adjustments you need to make for your business to thrive. This information may also be collected through market research and analysis .
On top of that, you also need to understand what exactly you're getting into before diving headfirst into the adventure. Check out some of the essential characteristics of Dubai's market and business scene to make a good decision.
Starting a business comes with several challenges , which can be overcome with the right amount of preparation knowledge and effort. One of them is define your business .
Determining the type of business you plan to start isn't just about choosing an industry, mind you. You also need to select a license type and jurisdiction for your business registration that will suit the nature of your business.
The first thing you need to get when starting a business in Dubai, besides your passport and personal documents, is a business license . The process involves obtaining local government approvals through the Dubai Department of Economic Development (DED) .
You will also need to complete a set of requirements, which includes:
Note that you will need to submit other company formation documents from other UAE agencies applicable to the specific line of business you will be in.
Trade licenses are industry specific and will be based on the corporate structure and the commercial activities you intend to perform.
Business licenses in Dubai mainly come in four types:
Note that licensing suitability differs for each company. You will need to consider factors when making the decision.
You must also select a commercial jurisdiction where your business will be located . For this question, you will need to consider a number of important things, such as:
One thing you need to know about the UAE is that each jurisdiction has its own unique set of benefits as well as governing rules and restrictions . You should review them before finalizing the decision.
Below are the three main jurisdictions you will need to choose from:
Setting up a business is not as easy as it looks, although the UAE government has made sure that business owners have the least difficulty setting up their business in Dubai.
Yet, there are still several challenges with the business formation procedure that some entrepreneurs end up spending too much time, effort and money on the business. Lacking experience in the task, they end up struggling with administrative matters and be distracted from what they originally came to do:start the business .
Fortunately, many start-up agencies can help make things easier. You can avoid costly and time-consuming mistakes by enlisting the help of those more familiar with the processes and the scene .
Some companies also offer a few other services that go beyond starting a business, such as:
Businesses in Dubai come in many shapes and sizes, but they all have one thing in common:they were built from the ground up and established according to the laws of the land. You can do the same and even make the road easier by following the best advice the experts have to offer.
