UAE Welcomes Ambitious Entrepreneurs
Ambitious entrepreneurs always show great interest is setting up a business space in UAE, particularly in Dubai. Many have the opinion that a business setup in Dubai is one of the fastest ways to taste the success of business. Here you get all the facilities that you get in your home country. Moreover, you are able to export and import raw materials and finished goods without any time lag. There are many more advantages. Before thinking about company formation in uae, one should have to do a lot of ground work. An experienced business consultant is able to help you in taking good decisions on company formation. You have a lot of opportunities in UAE. Only thing is proper understanding is essential. Otherwise, the steps you are taking to move your business forward will not give any positive returns. Knowing the rules and regulations of the country, and the geographic pattern is very essential.
First of all you should decide about the business activities that you can carry out in the UAE. Checking the business patterns followed by other companies give a better picture about the business activities that are commonly done in the country. Getting information about the business activities that are running successfully in various regions of the country allows you to think about activities that you can run there. For carrying out each type of business activity you need a trading license. After deciding about the business activities, you should apply for a trading license. You can apply for a license for doing a particular activity. But you have to make sure that only that activity will be performed there. Those who are involved in multiple business activities can apply for a general trading license.
After choosing a business activity you should check which type of business formation in uae is best for you. Design a business model and match it with the options available to you. You can have a Limited Liability Company (LLC), Free Zone Company or an Offshore Company.
If you wish to operate a company where you supply goods or services to the local markets of the country, then can opt for LLC. For setting up a local LLC you should have a local sponsor or shareholder who owns 51% of the total ownership. Those who are interested in opening offices in any regions of the country, including shopping malls or busy trading centres, also should set up a LLC.
If you are a foreign investor and would like to hold full ownership of a company, then could form a free zone company. In this set up you don’t have to search for a sponsor. You have the authority to take all decisions related to the business. But free zone companies should be able to do business only from the zone.
Those who want to have a company for doing business with other countries, but not with the UAE can go for offshore company registration. Here, you can setup a base in UAE to do business with rest of the countries. Formalities for setting up an offshore business are different from that of free zone as well as LLC.
Running a business in Dubai gives you the freedom to do it as you wish. Opportunities knock door only once, so try not to miss it.