3 Things to Consider When Selecting the Location for Your New Business in UAE
Starting your business in UAE is very promising and aspiring, thanks to the economic stability, the workforce availability and the endless benefits and options the country provides to investors. However, when starting a business in the country, one must be very careful with many decisions regarding the type of business they choose to start, which type of trade license to issue, and most importantly selecting the suitable location. Finding the suitable location for your business can be a complicated process, and it is very important you do your research before making a decision. UAE offers 3 main areas for investors to run their business, in a mainland, a free zone, or offshore. Each of the three locations has its advantages and limitations. And that is why it is extremely vital to consider the pros and cons of each of them when deciding upon the location you will run your business.
So in order to make sure you are selecting the most suitable location, here are three things to consider before taking such a decision:
Your type of business, target market and the location of your suppliers
Selecting the right location should depend on the type of your business, the location of your clients and your trade requirements. At the end, you can’t make profit or let your business grow if your clients or customers can’t reach you or if you spend a lot of cost for getting your goods. You will need to do an extensive research on what is the best place to reach your target market and to put into consideration how close you will need to be to your suppliers or how easy will you find your employees. You also need to consider your competitors, and how your location will give you the ability to compete with them.
Choosing your workspace
It is vital to consider the pros and cons of the location you will select for your business and not do your selection without research and choosing the exact place. For example, a free zone might seem very attractive for many investors for the fact that it gives them 100% ownership of their companies. However, you might choose a free zone and then find a limited number of offices that none of them would fit your company size or that does not allow you to issue the required number of visas for your businesses. Also, some locations are more suitable for some types of businesses than others, even though other areas might seem to provide more benefits than they do.
Other legal and financial considerations
One final thing to consider when choosing the location for your business is the laws and cost of each zone which will vary depending on the type of your visa. Each area has its own laws on issuing the number of visas and trade licenses, financial reporting requirements and taxations. It is vital to know the requirements of the location you are setting your business at to avoid any legal mistakes in the future or any extra costs for your business. Knowing the laws of each zone will also help you decide the most suitable one for your business type and the one that will give you the most benefits.
Global Link can assist you in finding the most suitable and affordable locations for your business. We will make the process easier and smoother, guaranteeing you start your business at the right place.