If you’ve decided that it’s time to join the trend and take your company to Dubai to set up shop, then you aren’t alone. There are all kinds of established companies, startups, and entrepreneurs literally flocking to the region just to get in on the action. To call Dubai a “hub” for innovation and technology at the moment is a huge understatement.
So, if you’re looking into company formation in Dubai and you’re wondering what steps are involved, you’re going to want to take a look at this guide and refer to it during the process.
Figure Out the Type of Business
The first step that you’ll need to take is to figure out what kind of business you plan to open. This answer will dictate what kind of license you’ll need. There are industrial, professional, and commercial licenses. Keep in mind that some businesses will also need additional approval that comes from various government departments. You want to be sure to allow plenty of time to get the correct license and approvals.
Set Up in a Free Zone
If you plan to own 100% of the business, then you will also need to ensure that it is set up in one of the dedicated free zones. Your license will need to reflect the zone you are set up in. Not to worry, there are plenty of free zones to choose from.
If you don’t want to be relegated to a free zone, then you need to find a local partner who will hold the majority interest of the business.
Connect with a Local Lawyer
It’s a good idea to get connected with a local lawyer who deals with businesses and startups such as yourself. They will ensure you are following all the rules and restrictions and that the proper steps are taken.
Rely on Experts That Set Up Companies
Another tip is to connect with a company such as Virtuzone which specializes in helping clients set up their company in the UAE. Because they have experience with it, they will be able to guide you through the process, help you connect to those you need, and make the process a whole lot faster.
Find an Office Location and Staff
Because most businesses require an actual physical office and staff, you’re going to want to tackle this step as quickly as possible. As soon as all the necessary legal steps and forms have been completed, you’ll be able to hunt for office space. Keep in mind that nothing comes cheap in Dubai, so expect to spend a lot.
Staff will be another big priority, and you’ll find that it’s necessary to hire a manager that is meant to oversee the operations. This is required in order for your registration process to be approved.
Take Your Time and Research the Steps
In order for your business to be successful in Dubai, it’s important that you take your time and properly research all the steps involved in opening a business. By following the rules, guidelines, and regulations, you’ll find everything goes much smoother and faster.
