If you’re planning to set a business in Dubai you need to acquire some basic and essential information that will help you to start with business operations.
Accumulation of business costs
For setting a business, you need to raise business capital as an investment that will pay for business licenses and visas of the workforce. The costs are dependent upon:
- The company’s legal form (whether it is a branch, establish or company’s branch)
- The nature of license and activity required (it might be commercial, service-oriented or industrial)
Essential Government Entities
Commonly, there is a need to connect with DED (Department of Economic Development) of the related emirate in order to local initial approval and register the trade name. You can do this through DED’s e service or by visiting their office. After acquiring initial approval you can move towards more approvals from other authorities that are required for trading activities
Company’s Capital requirements
The capital requirements modify with respect to the nature of the business and legal form.
The partner's nationality is one of the critical parts that needs to be determined after sorting the business nature. This is because there are some business entities that can only be set via UAE nationals like SME license, home-based business licenses, industrial or commercial type sole proprietorship etc.
People belonging to other nationalities (other than GCC states) can set different business but it is necessary for them to include a UAE national as a sponsor.
Benefits of starting up a business
- There are numerous benefits that can be acquired after setting a business in the UAE. Some of them are listed below:
- There are no personal or business taxes
- There are more business activities for licensing
- No limit on the number of employee visas
- Business flexibility in any emirate of the UAE