Start a Business in Dubai – Do’s and Don’ts to make a profitable business
Recent market trends in Dubai provide international investors numerous opportunities to profit from commodity imports and exports, as well as take advantage of the city’s growing tourist traffic for an almost infinite number of potential clients and customers.
We, at ITQANS, toil day night to help you start your business with no issues.
Thus, we’ve made a list of some facets that you should be familiar with.
Do’s in business startup
For a local business startup, get a local sponsor
A sponsor must be paid a yearly fee which can be negotiated. Develop a rapport with your sponsor so that he is ready to help you in sorting out any problems you may face along the way with the authorities. You should establish a rapport with your sponsor so that he can assist you in resolving any issues you may encounter with authorities along the route.
Select a Location that optimizes suitability, convenience, and costs
Another important step in planning a business startup in Dubai is to determine the most suitable location for the business. Setting up a profit-based enterprise in the city wouldn’t do you much good despite the growing economy if your customers or clients can’t reach you.
If you want to start a small business, you need to think about things like telecommunications, storage, and space inside the building. Fear not, the ITQAN Leasing team will take care of everything.
Confirm your Visa eligibility and requirement
For a business startup in the UAE, a visa permitting you and your employees to live in UAE is essential to run your business.
Visas are allowed for almost all businesses.
However, their number varies according to a variety of criteria such as the size of the office, nature of the business, the category of the employee, or the investor.
If your business startup in Dubai is a local company then you need to work with your sponsor to get your visas – at least the first time.
Business visa application in Dubai is not as strict as most would think Let our team help you and show you how easy it is.
Hire a registration agent to go through the process easily
Hiring a business advisory firm to register your business startup may be your best option.
ITQAN consultants will not only hold your hand right through the setup process but will also register your firm on your behalf. And will assist you in creating a bank account, arranging for an auditor, renewing your licenses, and providing nominee services.
Don’ts in business start-up
Make no plans based only on theoretical information
Before you finalize the plans for your business startup it is prudent to confirm the validity of the published information.
Rules change in Free Zones and also in the local Department of Economic Development for business registration.
Do not go ahead until you have confirmed your assumptions through a business setup consultant or by actually contacting the relevant authority.
You may discover that some papers may be needed or that some nationalities need special permissions or that some requirements may be waived if you request or negotiate.
Do not select a license category without first checking that it supports your business strategy.
It’s not difficult to come up with a company plan that doesn’t require any changes in the UAE. Frequently, a significant amount of modification, or at the very least considerable adjusting, is required.
Make a wide range of possibilities and validate that the license category you’ve chosen allows you to do all of the actions that are likely to occur in the business model you’ve chosen.
Do not open a bank account until the bank charges have been confirmed.
Banks incur a variety of fees. For a bank-dependent operation, these can add up to a significant cost for a firm starting. Always double-check the requirements and costs ahead of time. Do not choose a bank only based on its reputation.
Do not sign a sponsorship with a local sponsor without a written legal agreement
Your business startup may need a lot of support initially.
Some services may be charged separately by a local sponsor.
Do not proceed with sponsorship unless both parties have agreed on what they anticipate from the other and a written contract has been set up and attested in the local court. Do not rely solely on verbal communication. Contact us today and get our free-of-charge consultation to make your business dreams come true!