Do I Need a Business Setup Consultant to Launch in the UAE?
If you want to start a new business, you don’t need to look any further than Dubai. Over the last few decades, the city has rapidly grown to become a business hub for the Middle East. Dubai’s economy expanded by 2.1% at the start of 2019, with total GDP reaching USD 56.7 billion within the first 6 months. The growth prospects is alluring- Dubai boasts a wealth of benefits for any investors looking to succeed, thrive, and connect with the rest of the business world. As a result, more than ever, there is a growing need for reliable business setup consultants in Dubai.
Business setup in UAE is a complicated process, with various complex procedures involved. The unfamiliarity with the local culture and language makes it even harder for investors looking to start their business in the region.
Before you setup your business
Generally, you need to understand a few things before setting up your business in Dubai, UAE.
Economic Zone: Mainland, Free Zones, and Offshore Companies
The first step for setting up business in Dubai is deciding if you would like to operate in Dubai Mainland, Freezones, or as an offshore company. A business setup consultant usually helps you make the decision based on your requirements and business limitations. While a Mainland company allows you to trade anywhere in the region, a Free Zone company setup gives you 100% ownership of your company. Meanwhile, an offshore company operates outside the UAE region and isn’t limited by the requirement for minimum capital before you can start your business.
Type of Licenses
Aside from choosing where you will be setting up your company, you will also need to identify the type of licenses needed. The Department of Economic Development (DED) has the sole authority to issue trade licenses for businesses in the UAE region.
Based on your business activities, you can apply for a commercial, industrial, or a professional trade license in Dubai. The commercial license can cover businesses that deal with import & export, logistics, travel & tourism, sales, real estate, etc. Meanwhile, industrial license type is issued to businesses that are engaged in manufacturing activities while professional trade license is for service providers, artisans or craftsmen.
One of the complexities involved with business setup in Dubai is a local sponsor. A local sponsor holds 51% of your company shares in return for the freedom to set up your company anywhere in the region. However, no local sponsor is required when setting up a Free Zone business in Dubai. You get 100% foreign ownership of your company without the need of a UAE national as a partner or sponsor.
Why Hire a Business Consultant in Dubai?
Setting up a business in Dubai requires more than an understanding of your business. You need a business plan. Starting a business in Dubai depends on various UAE legal departments and judicial bodies. As a result, you must opt for a business consultant for a quick and hassle-free process.
Here are some of the reasons you need a business setup consultant in Dubai, UAE:
1. Understanding the legal procedure involved
There are a lot of legalities involved when starting a business in Dubai. Hiring a business consultant in Dubai will allow you to understand the legal structure needed to start your company in Dubai. It allows you to set up for success from the start. An expert business consulting agency has years of experience and understanding of the local laws and judicial procedures, ensuring that your business formation in Dubai happens smoothly.
A business consultant in Dubai will also help you evaluate and overcome the risks involved in legal matters. As a result, you can start your business operations without any delay.
2. Choosing the Right jurisdiction
As discussed above, it is important to choose a jurisdiction before you can even apply for a trade license to start your business activities in Dubai. With over 40 Free Zones, the choice can be overwhelming. The type of location and justification depends on your business activities. A business consultant in Dubai will be able to help you identify if you need to be a mainland company or if you need to set-up in one of Dubai’s free zones.
3. Save money and hassle
A business consultant isn’t there just to hold your hand through the business formation process in Dubai. In fact, it’s their vast industry expertise and knowledge of local laws that make them indispensable. Not only do they go above and beyond to offer additional value services to their clients, they also help you sidestep any complications or undue costs when setting up a business in Dubai. Once you hire a business consulting firm, you can have the time and resources on what matters most to you- your business.
4. Finding a trustworthy business partner
A good business consultant in Dubai is also able to help identify a good business partner or sponsor for your company. Business consultants like Global Link, go a step further and provide you with corporate sponsorship. It gives you all the freedom of a free zone company while allowing you to carry your operations anywhere across the UAE.
Partner with Global Link for a smooth, hassle-free business formation experience in Dubai
At Global Link, we have expert business consultants who extend their industry expertise, knowledge, and knowledge to help you set up a company in Dubai with ease and with no undue costs. With over 10 years of industry experience and trust backing our services, we help clients protect their assets and protect against any liabilities. We aim to take care of all the documentation and legal procedures for you, leaving you to focus on your business and people.
We aren’t just consultants- we are partners. We stay with you at each step of your business formation in Dubai and afterwards, ensuring that you can start your business operation without any delay. When you are looking to start a business in Dubai, ensure that you contact Global Link and let us deliver a one-stop solution for all your business needs.