Dubai is a progressing country and a lot of new investors are willing to set up their business in Dubai. For the people who can invest such big mount in a foreign country like Dubai and is ready to take the business risk, these points are for you.
Setting up a business in Dubai will take a long study, accurate information, local support from family or friends, proper idea about the business from a present business person from Dubai but first to start with you need to know that it will take time and you have to take it slow. There will also be legal formalities and follow ups.
If you are ready for all the hustle, read this to have a clear picture about what you need to know about Setting up a business in Dubai.
- Research – Research is the key. You should know about the businesses in the country, the rules and procedures under the government law. You should have proper knowledge about licensing and foreign business investors to set up a business in Dubai.
- Decide a business you want to start- Do extensive research on the business prospects in Dubai. Study the market, the market demands and then accordingly plan a business of your choice.
- Get a local sponsor-Setting up business in Dubai will not be an easy process. Business opportunities are high but you will a need a locally registered LLC business. You will need a local business partner who will have 51% partnership and will be called a ‘local sponsor’.
- Hire an agent to guide you through the process-There will be a lot of things you would not know about business, partnership, location and other important startup related things and this is where you need a local business agent to solve all your queries and problems. An agent will brief you about everything and also help you with legal formalities.
- Decide a location- A local company gets the freedom to locate its business anywhere in the country. A business startup in Dubai with the desired location and that too under your budget is a luxury. So, decide your budget and choose your location wisely.
These are few of the things to keep in mind if you are planning to set- up a business in Dubai. Business in Dubai for a foreign person can be tough but these points will clear a little air from those thoughts. Take the first step in the right direction and the rest will follow with the flow.
