The Ultimate Guide to Starting a Business in Dubai

Dubai is the land of many things…stunning beaches, and exotic cuisine, critical islands that resemble the countries of the world, but it increasingly seems to be the land of opportunity for those with an adventurous bent and the desire to make a successful business that builds wealth and delivers fantastic products or services.

However, because of the nature of this kind of country, there are a few more hoops to jump through, and I’s to dot when compared to other more liberal nations to start a company. Nevertheless, when armed with the correct information, it’s not as challenging as it first appears.

This guide will take you through some of the steps involved in the process so that you can expedite the setup process and start your entrepreneurial journey in the correct manner.

Get In Touch With A Consulting Company To Help You Through The Nitty Gritty

Unless you already happen to be a Dubai national or have done business in other UAE nations, you will soon discover that every country has its own ways of doing things. While this doesn’t mean that doing business in Dubai isn’t a particularly taxing endeavor compared to other places, it does mean that you might find some solace in hiring a consulting company to assist you throughout the process.

These agencies, like the one at www.dasaconsulting.ae, can help in numerous ways, from the planning phase all the way up to applying for the various licenses and permits relevant to the industry you want to set up. This kind of help can prove invaluable and will get you started along the right path, resulting in far fewer regulatory mistakes and misses than if you opted to go it alone.

Choosing The Right Business Structure

As with any business, you must consider the structure you will set up. This is important as it will dictate how you pay tax, how much you’ll pay, whether you can hire employees down the line, etc. Many of the usual structures that might exist in your home nation also exist in Dubai, such as sole proprietorship and Limited liability company (LLC).

However, there are also Dubai-specific entities that might fit your needs better, such as a Free zone company (FZC), which has slightly looser rules on performing certain activities (but requires more oversight as a result).

Hiring Talent: Local Vs. Expatriate

The UAE, in general, and Dubai, in particular, are well known for their approach to hiring employees, and how you go about this task will heavily depend on what you want to achieve. For instance, if you are setting up a restaurant, then it stands to reason that you might prefer to hire an expatriate chef over local talent (although there will be other roles local talent can fill).

On the other hand, if you’re setting up a high-tech business or one that includes professional work, such as an architecture firm or design agency, then you may be required to fill a certain number of openings with local employees.

This is where a business consultancy, as mentioned in the first point, will provide the most value as they will inform you of which industries require certain obligations vis-a-vis staffing.

Starting a new business in Dubai is an exciting adventure, but without the correct understanding of local laws, customs, and regulations, you will make your life harder than it ought to be. By following these points, you can navigate the business environment with ease and ensure you start off on the right foot.