While starting a sole or partnership business in the United Arab Emirates may be appealing and lucrative, you should consider certain things and groundwork to ensure that your investment is profitable and operates according to UAE regulations. With all that in mind, the guide will break it down for the basic and important factors you should take into account before setting up a business in UAE.
All you Need to Know about UAE
First of all, it would be inattentive if we didn’t mention that while many foreign investors or business people consider Dubai to be their business hub, there are seven other profitable Emirates with UAE. If you wish to start a business in Abu Dhabi, in Dubai, or any of the great Emirates, it is wise to know that each emirate has its own regulations and procedures that regulate business or company set up. While some rules and procedures might sound the same, it is wise to find more accurate information about business and investments and other operations in the Emirates you like or think of investing in. The guide will focus more on Dubai, one of the best and profitable business locations in the UAE.
Identify your Business Activity
Like any other country in the world, setting a business in Dubai, you will be required to outline your business operations. The services and goods you will be producing to citizens and visitors visiting the country. But if you have no idea, the department of economic development in UAE has a list of many activities you can invest in or consider as your business ideas. With this, you can apply for a business license and further approvals that should allow you to operate or provide the listed activity to the people and Dubai visitors.
Decide the Location
In Dubai or any other Emirate in the United Arab Emirates, you will be required to decide your operations’ exact place or location. For the most part, in Dubai, it means setting up in the city or the mainland or any free zones. Read more about rules and regulations governing business setting in the mainland or in the government free zones. Free zones will allow you to have a 100% ownership and also involve less paperwork than in the mainland. Like any other country, you will be required to meet certain standards to fit in the Dubai market or offer quality services in the market.
