Having one’s own business is the dream come true of every entrepreneur. Therefore, they look to do so in countries where there is little or no risk at all, as well as where they can benefit from the market and jurisdictions as much as possible. In the UAE, we offer business consultancy services to help entrepreneurs set-up their businesses.
Even though starting one’s own business can be very exciting, there can be many challenges coming his/her way, especially when trying to run and maintain a business for a long period of time. Therefore, it is recommended to prepare oneself and learn not only the right set of skills, but also anything that might contribute to the success of the business both in the long and short-term.
Luckily, there are business consultants, who specialize in providing guidance, as well as in and assist with anything related to starting your own business. They offer assistance with the market’s research and analysis, they facilitate the decision-making process, they even help you to save money and speed up the business incorporations process.
When it comes to setting up a new business Dubai has always encouraged people to invest in their country. They offer different business models for foreign investors, especially when it comes to Dubai Free Zone Company Formations. The latter has a number of benefits that include 100% ownership to a business, 100% tax free for all companies within that area, they allow companies to import and export activities, unique access to the UAE economy, residence visas for investors, employees and family members, higher chances of growth because of its strategic locations, great transport network and road connectivity, high quality labor at an affordable cost, 100% repatriation of profits and investments, warehouse and virtual office facilities, it allows companies to participate in local trading activities, they do not require any minimum capital to set-up a company, it allows for the investor’s visa acquisition without security deposits, it allows for the launch of branches and they offer world-class infrastructure.
There are 8 types of entities that can be formed in the UAE, which are Limited Liability Company Formation, Offshore company formation, Dubai Free Zone Company Formation, Dubai Mainland company setup, branch and representative offices, professional firms, joint venture companies and shareholding companies.
When it comes to business setup in Dubai there are three choices offered:
The Dubai Economic Department (DED) is responsible for managing these types of business setup, which requires a partnership from UAE nationals, who would own 51% of shares of the company, leaving the foreigner owning 49% of shares, which might have been a reason why it is widely prefer to do a Dubai Free Zone Company Formation.
This option tends to be very popular for startups, as it allows foreigner to own 100% of shares of the companies without requiring any local partnership or assistance whatsoever. The only con of this option is that it does not allow to do any trading activities outside the free zone, otherwise the Dubai Free Zone Company Formation is highly beneficial, especially for start-ups.
This last option can also be quite beneficial, as it allows businesses to be run outside of the local market. This option is usually preferred for universal exchanging.
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