Dubai has been a major hub for the startup and business investors, ever since it started showing its economic stability in the international market. Having always encouraged business startups in the region, the current trends in the Dubai market offer plenty of opportunities for doing business in Dubai, and investors to carry import and export activities to take advantage of the growing tourist footfall of the city.
Although Dubai welcomes foreign investment momentously and is known to have some of the most liberal business restrictions around the world, setting up a business in Dubai does require you to get acquainted with the various good practices in relation to the business regulations and authorities set the Dubai government, as that would help avoid problems that are generally encountered by a new, profitable business setup in UAE.
New business setup in Dubai
The Dubai government has a set of pre-defined business models for the foreign investors and businessmen to pick from, which include direct sale, branch or correspondence office, commercial agency arrangements, Limited Liability Company and also special free zone investment.
There are three major considerations that must be made for setting up business in Dubai:
- You must have a sound knowledge of the region and the business sector you intend to operate within. You must possess a practical business plan that must include an analysis of the market conditions, the competition and the forecast results and the investment resources on your own end. A credible plan will help you attract local support, and in all likeliness, support from the authorities as well.
- The law states that you ought to have a local partner, holding a majority in the business, allowing him to have a control including closing the business, if necessary. The partner shall own at least 51% of the company shares. The local partner, be it a company or an individual, doesn’t need to contribute to the business investment.
- When initiating a new business setup in Dubai, you must show to the Ministry of Commerce that you have enough money to invest into the business. The required sum may vary between the states and is a guarantee against liabilities. Though, you may withdraw the amount shortly afterwards.
How can HLB Hamt help?
Business Setup in Dubai and running it has onshore, free zone and off shore resolutions for foreign investors in the UAE. We can assist investors to identify the right incorporations for their particular business activities. Our team can proficiently find responses to accurately meet your distinctive demands through effective utilization of jurisdictional policies. We guarantee swift and organized incorporation of your companies in accordance to your respective strategic business goals.
Onshore Company Formation
One of the most common types of business setup, onshore companies are incorporated under the Code of Obligations determined for UAE for each form of company. On successfully setting up a business in Dubai, we act in agreement with the country’s legislation to provide legal advice to you for easy settlement of your business.
Free Zone Company Formation
Free zones offer a range of facilities modern infrastructure. These zones are 100% tax exempted, and allow 100% foreign ownership. We can provide you with a comprehensive business management services adhering to the existing provisions and business regulations in the area to help you set up of business in Dubai.
Offshore Company Formation
We can provide you with specialized services for offshore company establishment too, along with maintenance, structuring, restoration and management.
Join hands with HLB Hamt, and let’s work together to make your business establish and grow.