Dubai has one of the strongest, growing economies in the UAE which
makes it a natural choice for businesses that want to expand into that
region. Business in the UAE is both the same as in most parts of the
Western world, and very different. If you want to learn how to start a
business in Dubai there are a few things you should know right out of
the gate.
The power of sponsorship and negotiation
If you aren’t a resident of Dubai then you are going to have to deal
with more of the bureaucracy in getting your legal entity set up and
approved. The best way to do this is through an official sponsor.
Sponsorship can come in many different forms, including as a partnership
or association membership. They can provide you with key negotiating
power when it comes to getting the approvals that you need. It can be
hard to find the right type of associations to make without having
someone who knows the local businesses and officials to make sure you
aren’t hitching your wagon to a broken star.
How different are the legal obligations?
Just as in most Western countries the legal obligations for business
registration and the creation of legal entities is almost the same. When
you are preparing for a business setup in Dubai there are extra hurdles
to overcome as a non-resident or citizen. There are specific capital
investment requirements that have to be met, in addition to the standard
funding and monetary processes that have to be defined. The corporate
structures that are available include LLC and corporations; although you
may have to have a UAE member on your boards to be approved.
What about just investing?
Investing in an existing concern is another option for expanding into
Dubai. This can be an important intermediate step for business setup in
Dubai if you can’t quite make the right connections or don’t meet the
legal obligations in the present for a new entity. The key to making
investment work for you is to make sure there is a structure plan to use
the existing concern to allow for your business to enter into Dubai.
This can require some very careful reading of the current laws, and an
understanding of the economic climate of the country.
How can I start a business in Dubai and be a success?
If you are really looking for how to start a business in Dubai and be a
success, then you should talk to the experts in business setups in
Dubai. We can help you to look at all of your options to pick which ones
will allow for an approach that creates opportunity for you. Our
experts know Dubai and the UAE regulations and legal obligations. We can
help you to make the connections your need to get your business setup
in Dubai approved and off the ground as fast as possible. Business in
Dubai is promising to grow even faster in the future, don’t wait to call
for a consultation – do it today and get in on what will take your
business to a new level.