6 Things you should know to start a business in Dubai
Dubai is the commercial capital of the United Arab Emirates. Dubai – The city of Gold, is catching the eyes of foreign investors as it provides a wide range of business opportunities and innovative commercial modules for enterprises across the world.
Foreigners have always been encouraged to start their business in Dubai. It’s extremely important to know the basics to start a business in the UAE.
Here are the basics you need to know for starting a business in Dubai.
- Finalize your business activities
“Well begun is half done” – A good beginning almost assures success. Once you have begun a project well, you do not need to put in much effort to finish it.
Be clear in what type of business you want and check with DED for available business activities according to your business nature.
Decide a group of activities for your business, note it down and reach out to a business consultant to get all the activities under one single license.
- Choose the right jurisdiction
Dubai is known as a business hub as it provides world best infrastructure and ease of doing business.
Do you want to establish your business worldwide? Get headquarters in Dubai, and a branch company in Free zone and you are set to make the business across the world.
- Cost-effective licenses
License cost is depending on the location and type of activities of your business. So, it is advisable to consult a business set-up service provider to get the license at the minimal cost.
- Partner with reliable UAE national
Dubai offers two types of license – Commercial and Professional.
To establish a business in the mainland, it is mandatory to have a UAE national as a business partner for all commercial activity companies.
For the professional activity company, you will require a local service agent, who would work for nominal charges.
- Rent the best business location
Every business must have a physical existence in Dubai. The tenancy agreement, Real Estate Regulation Authority (RERA) documents, and EJARI need to be submitted, following which the initial approval is granted by the DED.
- Look out for External approvals
For some activities, you will require approvals from different departments in Dubai. For example, if your business is renting a car, you’ll need approval from the Road & Transport Authority (RTA).
Company formation in Dubai is an extensive process. You can appoint a business setup consultant to get cost-effective and hassle-free services. They are well-versed with the process, so you can instantly get the license.
Want to start a business?
Contact Profound Business Services today to get a free consultation. You can drop us an enquiry at [email protected] or give us a call on +971 43206111.