Starting a business in Dubai (UAE) may not be as easy as you might be thinking. Here are a few tips we have discussed to help you find a low-cost business setup for your convenience.
How can you launch your business in Dubai, UAE at a low-cost? This must be one of the questions that you would be searching for if you have plans to start a business in this vibrant city of UAE. However, you will need determination and ambition to make it successful. Additionally, you will also require investment and business setup costs. In the United Arab Emirates, to set up a business you will need a specific business setup cost for the initial expenses.
Every year, the number of investors and entrepreneurs in the UAE are increasing. For the global business community looking for foreign investment, UAE is one of the favourite business hubs in the world. According to the Global Investment Report, UAE is the ninth-largest FDI receiver in Asia.
In this post, we will try to understand why the UAE is so investor-friendly and how investors can start a low-cost business setup here?
Some useful advice to follow, when you start a low-cost business in UAE
1. Look for All-inclusive Business Set up Packages
When you plan to set up a business in the UAE, you will need to consider several things. You will have to first follow the process sincerely and also the law of the land. The process includes company formation, registration, licensing, office space, governmental charges, local service agents or local partner/sponsor, etc. For approval, you will need to approach the government department of the UAE. Knowing the rules and regulations of the UAE is equally crucial. You will require accurate information about UAE rules and regulations, to begin with. It is recommended you hire a professional and reliable business setup consultant to lessen all the worries that you are burdened with to start a business in the UAE.
2. Economical Business Locations
If you are planning to expand your business in the UAE, you can easily find many affordable locations for business setup. Your location cost in UAE depends on the place of jurisdiction, where you choose to set up your company. The three main jurisdictions in which companies in the UAE are formed are - Mainland, Offshore and Freezone. You will require approval and license from different departments in the UAE to start your business in the three different jurisdictions, in case of Mainland, it is the Department of Economic Development (DED).
3. Office Space Rental
To begin your operations in the UAE, you will need office space. Every jurisdiction has a different rule for office spaces. For Mainland companies, you have to rent office space as per your business need, while to start your business in Freezone you have the option of Flexi-desks and office as per your need that you can book per hour. You can choose from a wide array of effective business setup packages available in the market. Many business setup consultants in Dubai, UAE can help you find the ones with reasonable rents. A professional business consultant can provide you with the best company setup solution.
4. Hire a Reliable Business Setup Consultant
A professional and experienced business setup consultant can make your process very simple and easy. They are aware of the entire process and they are also well-versed about the rules and regulations for business setup in Dubai UAE. This helps in the entire process, right from filling the application forms, gathering the documents and visiting different departments for approvals and licenses. A professional agency can not only help you find the right solution but also cut the unwanted and hidden costs if any. They know the changes in rules, so it becomes an easy and hassle-free process for you.