Before you dive into establishing your business in Dubai, here are a few tips that you should read about:
Get your company registered
Before anything else, it is necessary for you to get in touch with a renowned legal services team. If you don’t do so, you are sure to find yourself getting burdened by lots of paperwork that is necessary to be filled in by foreign investors. Just in case you wish to handle things on your own, you will have to begin by applying for registration through the DED or Department of Economic Development (DED). Speaking in general, you will initially have to acquire basic approvals from the Licensing Section of the said department. It is also necessary for you to get your business registered at the Dubai Chamber of Commerce and Industry (DCCI).
If truth be told, it is best for you to hire a services team to help you out with your Dubai business setup. With them, it will be possible for you to focus on your core business, which will enable you to increase your productivity and profits. It will additionally allow you to make sure that your business setup fulfills all required business criterion, thereby avoiding legal troubles. These teams have ample local knowledge, so even that is something that you will not have to worry about.
Find a business partner
If truth be told, Dubai has some very strict legal requirements. If you set your business away from a free zone, it will be necessary for you to work along with a local partner. Just so you know, the local partner you acquire will own the majority interest of your business. If anything, he will own 51% of your business, which is why it is best for you to instead acquire an Ajman free zone license and establish your business there. There is simply no way that you will be able to setup your business in Dubai if you do not have a sponsor who will act as a guarantee of your business.
The fact of the matter is that Dubai has managed to become the business hub of the world in the past couple of years. The number of expatriates residing in the Emirate is at an all-time high and that deems it necessary for business owners to consider establishing their presence here. Not only can you set up your company, you can even open an offshore branch of your business in Dubai.