5 Do’s
1. Select a UAE national as a Sponsor
If you really want to start a business which exploits the potential of Dubai then you need a locally registered LLC business or a Professional license.For a local business, a UAE national must be taken as a 51% partner who is called a local Sponsor. A local company provides the freedom to locate the business anywhere in the city.
2. Select a Free Zone if you wish to own your business 100%
The only way to register your UAE company without a UAE national as a Sponsor is to be located in one of the UAE free zones. Which is practically not suited to businesses that must be in the city markets like restaurants and retail stores. Not to mention the fact that purchase or rental in a Free Trade Zone district might be high for your budget to handle.
3. Select a Location that optimizes business objectives, convenience and costs
Deciding upon the location is extremely important. Setting up a profit-based enterprise in a free zone wouldn’t do you much good, if you are customers or clients can’t reach you. You need to set up your business in an area that is most profitable for your business or most convenient to your business. A location in the city can be selected for a shop or an office most known for the type of product or service you are dealing with. If you are planning a Free Zone company then you must be make the selection based upon certain factors such as distance, costs, product suitability, business model, and trade requirements. The surrounding area and the physical office infrastructure also matters for business success and to avail extra services.
4. Confirm your Visa requirements and eligibility
In order to run the business you need visas for your employees and your own self too. 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 business, category, of the employee or the investor. If local business then you need to check with your sponsor to get visas. Aside from your passport and other legal requirement, a letter is also needed from your sponsor to highlight his or her, or your personal information, reason for the visa application, and the likes before processing. Subsequently you may be allowed to apply for the visas of your employees if your sponsor agrees to give you the authority.
5. Hire a UAE company registration agent to take you through the process
As a foreign investor, hiring a UAE company registration firm to register your business may be the preferred route. These firms not only hold your hand right through the setting up process but also actually do the company set up for you. A new business may find their expertise in dealing with the local government bureaucracy and with free zone authorities to be of great help in planning and execution. Also, they will take care of all the necessary requirements to help you have your business registered legally without any problems on your end.
So, in this case contact US and get started with your business process!
5 Don’ts
1. Do not register your company in a Free Zone without taking a look at the available office sizes and preconditions
Often the published information for a Free Zone gives a wide choice of offices. The actual availability keeps changing. A new business usually looks for cheapest option. t may be possible that when you actually go for registration of the company you may find that only certain office sizes are available. This will disturb all your planning's and budgets. And then it'll be too late to change your Free Zone area. Or it may be the case that certain offices only allow 1 visa that too only for investor. So, just study the area really well before going ahead.
2. Don't make firm plans based on published 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 DED for registration of businesses. Confirm everything with the setup consultancy then go ahead. You must contact consultancy for your ease as they'll guide you with the documents needed, with the approvals, special permissions. And that's why you need to contact ALBAB for getting your business started. We do all the formalities for you!
3. Do not choose a license category blindly without confirming if it allows your business model
Make a wide search about the various license categories available that fit your business model. There are literally 100s of licenses. So choose the category wisely!
4. Do not open a bank account without confirming the bank charges
Banks levy varying charges. For a business startup in the UAE, these can amount to a substantial sum for a bank dependent operation. Always confirm the requirements of banks and its charges.
5. Do not agree to a Sponsorship arrangement without a written and notarized legal agreement
The business startup UAE may need a lot of support initially. A local sponsor may want to charge separately for some services. Don't rely on verbal communications. Always keep everything in written documents.
No comments:
Post a Comment