Business Setup in Dubai, UAE

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Dubai is a thriving business hub offering investors easy access to a huge population. It boasts of a cosmopolitan culture, low-crime rates, urban amenities, world-class infrastructure, a proficient workforce, and vigorous transportation amongst many other features that make it an attractive location for business. To top it off, you get to enjoy a tax- free business environment because the city has zero income and corporate tax on businesses. 

Why Dubai?

Knight Frank ranks Dubai as one of the top 5 global cities for entrepreneurs. The consumer confidence index is higher for Dubai when compared to cities like Milan, New York, Paris, Tokyo, and Bangkok. It cannot get better than this for a person who wants to set up a profitable business in Dubai. Now that you are aware of some of the reasons to choose Dubai as a business location, check out some of the things you need to do to successfully establish a business in the city. 

Select an Ownership and Economic Zone 

Before setting shop in Dubai, you must first select the most appropriate business zone or ownership type for your entity. The city offers various types of economic zones that business individuals can choose from. These offer different perks depending on the type of business. The two primary zones that entrepreneurs work with include: 

Mainland- this is ideal for investors who want to run businesses in Dubai mainland. For this, you must first register with the Department of Economic Development a body that is responsible for issuing Dubai business licenses. 
Free Zone-the Free Zone in Dubai offers 100% foreign national ownership. These have been set up to attract foreign investment. They have straightforward processes that ease down labour and immigration processes. 

Registering the Business 

As part of the process for business setup in Dubai, investors must also register their entities. It is the only way to obtain a license that gives them the green light to start operations. This, in a nutshell, involves choosing your business category, checking whether your business activities will match the legal forms, selecting a trade name, and getting approvals from the relevant bodies. Note that different businesses, usually have different requirements; thus, you must check all necessities for the business you want to run so that you can get the license without too many problems. For instance, some business ventures will require a local sponsor, agent, or partner before you can get the license. After sorting out all the legal procedures. It should not take more than a week to get things running. 

Closing Thoughts

While it is not a complicated process to set up a business in bustling Dubai, you may still need a hand to ensure that everything runs smoothly and you can start raking in those profits sooner. This is where you need to work with a reliable business consultancy firm like ITQAN. This is an established company that will help you hold your hand and lead you in the right direction. They are professionals that will help you with everything you need from advice on company formation to anticipating your needs and offering practical solutions to start your business on the proper footing. 

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