When you have the idea of setting up a company in Dubai, you must do a lot of groundwork to ensure that your business succeeds and operates as per the law requirements. Dubai is the main center of interest for almost all foreign and domestic investors; therefore, everyone opting to invest in Dubai successfully should do the following:
Determine the business activity of your interest
Determine your business interest activity because the type of business activity you want to run determines the type of license you will need, be it a commercial, industrial, or professional. Additionally, some businesses are not allowed to operate in the UAE, or if they are allowed, they require special approvals from the responsible governmental departments.
Decide where to set up your company.
Setting up a company in Dubai will give you two options for your business: the mainland and the free zones. Each of the two has its advantages and disadvantages; therefore, it is advisable to dig and conduct research on the best place to establish your business.
Choosing the mainland means that you will be allowed to set up your company in any place away from the free zone. Except if your business allows a hundred percent foreign worship, you will need a local partner or be assigned a local service agent. The benefits associating with the mainland include the following: no limited number of visas, no paying for business or personal taxes, and you will be allowed to carry our businesses in any part of the UAE.
Free zones
The free zones are always designated areas where there are particular taxes and restrictions on operating companies, and no extra business should run outside the zone. It is beneficial especially for foreigners to set up companies in the free zones since they enjoy the following: 100% foreign worship, minimal paperwork, and no paying of corporate taxes, import/export taxes, or personal income tax. However, some free zone cons include the following: it is expensive to operate a business within the free zone, and some companies are restricted from running.
Setting up a company in Dubai can be the most excellent idea one can have; some people feel like the procedure, and laws governing the UAE won’t allow them to operate freely. That is not the case; strategies, interests, and the research you conduct contribute a lot to your business success. Get to acquire the right documents and the right name for your company, which do not go against their traditions, beliefs, and laws.
