Whether you want to launch a global business from a single location or want to establish a startup from scratch, Dubai is the city you should consider moving to. The process of establishing a business is straightforward but tedious. You will eventually get a hang of the process or can consider getting professional help in setting up the business. However, there are some crucial things you need to know as they can assist you in making the right decision. Without further ado, here are 4 essential things to know if you are planning to run a business from Dubai.
1. Trade Licenses
The UAE government requires the business owner to secure a license before running a business. You will be applying for a license according to your business requirements. A commercial trade license, industrial license, and professional license are the three types of licenses you will be applying for. However, when applying for a license, you might need to contact several government ministries so make sure you know which government authority to approach first. Some trade zones in Dubai might even ask you to provide a business plan before you acquire a license.
You either have the option to establish your business in Dubai mainland or any of the trade-free zones. Let’s briefly read about these two types to gain some more information.
2. Business in Free Zones
These zones are a great option for aspiring entrepreneurs and startups as there are tax breaks, bank accounts can be set up easily, and several other benefits. Still, it is essential to understand the relevant requirements before setting up a business in Dubai as it will make the process much more streamlined and easy. There are a few dozen free zones, each offering slightly different benefits. You should also consider checking the perks you will be getting if you choose to start a business in one of the free zones.
3. Setting Up in Dubai Mainland
You have to provide some basic documents and complete the paperwork so you can get approval. Stating your business activity, getting the business name approved, renting an office space, choosing a business partner from UAE, and acquiring the finances must all be done to meet the official requirements. You can check UAE’s official requirements for opening a business in Dubai Mainland so you can never miss out on anything.
Most established businesses and companies choose to operate from Dubai mainland due to the following benefits:
You have the freedom to trade as your business is not bound by any form of trading restrictions.
Business can be done on a national as well as international level.
You have the liberty to expand your business to other locations within the UAE.
Mainland companies and businesses are allowed to compete for government tenders and contracts.
4. Applying For a Visa
The only thing you need to remember when applying for a visa is to consider how many individuals will most likely travel to Dubai. For example, you need to be certain about how many staff members would work there so you could apply for their visa on their behalf as an employer.
These tips are worth remembering when you are considering running your business from Dubai. Still, it is always best to never hurry in making a decision. Instead, take your time, consider your business requirements and then execute so you can achieve the best business outcomes.