Planning to Open a Business Setup in Dubai?
Starting a business is a process that requires an enormous amount of thoughts, efforts, money, studies and assessments. More so when it is setting up a registered business, be it in Dubai or elsewhere in the world.
There are certain factors one must be aware of before setting up and establishing a business in Dubai, or anywhere in the UAE.
Establishing Business in the UAE
Whenever you plan to set up a business anywhere in the world, then take time to examine all the factors before you pack your bag to kick-off the process. You will need a lot more than just a mere thought of starting a business. You will have to assess the pros of cons of starting a business in Dubai, UAE meticulously.
In the last two decades, UAE, especially, Dubai has experienced a massive influx of foreign investors who have made UAE their business home. UAE’s law favours foreign investors and hence the non-stop increase. This has encouraged many business setup agencies to assist companies, and business owners set up their offices in Dubai and other six emirates of the United Arab Emirates.
The business setup consultants help companies in both formation and registration of their businesses. Investors can choose between Free Trade Zones and Mainland areas of all seven emirates as per their trade license and business need.
Here we will talk about the four most important things required before setting up a business in Dubai and other six emirates of UAE:
Evaluate the Market
If you are a first-timer who is planning to start a business in a foreign land, you must first do a market study. It is crucial to analyse the market to understand where you stand and how much effort would be enough for you to start your venture. You must also assess a few of the leading companies in the category that you plan to enter. Find out how they are performing in the market and what reputation they are carrying. If any company has failed to make a mark in the industry, then try to find out the reason behind the failure.
Assess the Infrastructure
Infrastructure is the backbone of every business. Before you start planning for your business setup in UAE, you must assess the infrastructure. That is, if you have plans to own your business in Dubai then you must find out the internet speed, economy, social and political scenario, modes of transportation, availability of office spaces in Dubai and also if there is a market for your product and services. Human resources are another very vital factor that you need to find out.
Consider Free Zones for your Business Setup
If you wish to own a business with 100% ownership without any partner, local sponsors or agent in Dubai or without any alliance with the local companies, you should opt for free zones as the base of your business setup in Dubai. However, if you are into a retail business or restaurant business, then Free zone may not be the right choice for you. For this, you can consult a business setup consultant who will help you make the best decision.
Hire a Professional Business Consultant
Hiring a professional business setup agent or consultant will simplify the entire procedure for you. A consultant can help you with the process of company formation in Dubai UAE, registration and even in identifying the right office location and space.