Dubai offers a host of advantages to entrepreneurs, and this is the reason why it is an important commercial hub that is now at par with the likes of Singapore, London and New York. Business setup in Dubai is an uncomplicated affair that takes just a few days at most if all the documentation is in order. In the overwhelming majority of cases, you can receive your Business License in as little as a day. There have also been instances where investors have received their Business License on the same day itself. This is how simple and straightforward the process is.
There are more than 2,100 designated business activities for you to choose from. It would be a good idea to go through the list to find out the one(s) that your proposed business establishment in Dubai will be engaging in. Alternatively, you could seek the professional assistance of a business setup consultant who is more familiar with the range of possible business activities. This is what is recommended because a good business setup consultant can also tell you that not all business activities are permitted everywhere.
Why Choose Dubai For Your Business?
In the United Arab Emirates, there are some 45 free zones. Of these, about 30 of them are in Dubai itself. You have the option of setting up your company in a free zone or on the mainland, which is the area that is not part of a free zone. Free zones generally offer lower startup costs, but then again, certain activities like those related to banking/finance/investment are not permitted to be carried out by companies incorporated in free zones.
The good news is, there is a free zone aimed at almost every industry sector, and you should be able to find one that matches the business needs of your company. Free zones offer dedicated infrastructure for the purpose they have been established. For instance, if you wanted to open a stockbroking firm, you might find that the Dubai International Financial Centre offers a good address for your company. You will be surrounded by your peers in the industry, and this is a good thing.
In Dubai, collaboration is the name of the game, not competition. One real estate firm recently sought out a cryptocurrency exchange for converting bitcoin into local currency when the buyer wanted to purchase an entire building in Dubai using bitcoins. The transaction was valued at more than $163 million, and it is fair to say that the real estate company and the cryptocurrency exchange both benefited from working together. You will find this concept of collaborating for mutual gain across business houses in Dubai as well as the rest of United Arab Emirates.
There is so much growth in Dubai that there is also enough room for everyone to grow individually. This is how Dubai has recorded one of the fastest growth rates in the world. Entrepreneurs from across the world are making a beeline for Dubai to be part of its growth story, and taste success themselves. While a commonly propagated myth is that Dubai is driven by oil revenues, the truth is that oil makes up less than 1% of the Gross Domestic Product of Dubai.
Dubai aims to be the best in all that it does, and this is seen in the way its future trajectory is planned. Emirates, the flag carrier of the United Arab Emirates, is a major world airline today. Its base of operations, the Dubai International Airport, is the busiest in the world in terms of international passenger traffic. Despite being an emirate which was almost all sand and desert fifty years ago, Dubai is now a major tourist destination and home to the second-highest number of five-star hotels in the world.
It is also hosting the Expo 2020, and this is all set to be a game changer for Dubai. Businesses in Dubai will be able to interact with other businesses from across the world, and strike lucrative business deals. Which is also why you should consider incorporating your company in Dubai – companies with an UAE address are more trusted, as the laws are strictly enforced in the United Arab Emirates. This makes it all the more certain that an UAE-based company can deliver on what it has committed, and so the chances of you striking it big are exponentially multiplied with a company in Dubai. This holds true even after the Expo 2020 has concluded.
Steps to Open Your Company in Dubai
The first step is to decide on a name for your business. In the United Arab Emirates, there are some restrictions on nomenclature, such as the names of countries not being allowed to be a part of the company’s name, so a business setup consultant can advise you correctly in this regard. He/She can also run a search to see if the same name has been registered by another business entity, or even if a similar-sounding name already exists. You can then make the necessary course corrections if this is the case.
Once you have finalized on a trade name for your business, the next step is to apply for company registration as well as a Business License for your company. When registering your company, it is essential that you show proof of having rented commercial space that will serve as your registered business address in the future. This is why you should decide on the location of your company beforehand.
A good business setup consultant can tell you if a free zone would be a good fit for the business model you have in mind, and if yes, which free zone would be best for your company. Sometimes, the mainland might be a better option. If this is the case, your business setup consultant should be able to tell you where exactly in Dubai would be ideal for your business establishment. If you plan to open a supermarket, then it follows that you should be located in a residential area or close to one and not in the business district.
A business setup consultant can also inform you of affordable places you could rent for setting up your business establishment. The right business setup consultant goes one step further and looks at your business plan. He/She will advise not only on affordable office space, but the right office space that helps you to achieve your business goals. The right business setup consultant looks at the whole picture, and is as committed to your success as you.
Why Choose A&A Associate LLC for Company Formation in Dubai?
At A&A Associate LLC, we have years of experience helping establish companies in the United Arab Emirates. Be it company formation on the mainland, free zone company registration, or Dubai offshore company formation, we can be relied on to lend our world-class expertise to your dream.
After you have set up your company in Dubai, we continue to support you by providing you with cost-effective bookkeeping, accounting, and audit solutions for your company, in addition to legal support. We can be counted on even for things like renewing your Business License every year or help procuring visas. We aim to be an end-to-end business solutions provider. We have been of assistance to clients from 100 countries around the world, and we are proud of the fact that we have a 98% client satisfaction rate so far.