Ever thought why Dubai has been the destination for many business entrepreneurs for setting up their businesses? This is because Dubai provides great opportunities to set up business; it is lucrative for foreign investors as businesses conducted in Dubai are tax free! If you are planning for a business setup in Dubai, there are a number of parameters that you ought to consider –
Partnership – If your company setup in Dubai is outside the free zonethen you would have a local partner who would be a majority stake holder in your company. One advantage of this is location. But make sure you enter into proper legal written agreement and pen down how much you will pay, the responsibilities of each partner and the exit contingencies.
Free zone is another viable option for a business setup in Dubai. It would mean that you are the sole owner of your business and you own your business 100%. Location disadvantages could be one factor that can hold you back. Hence, consider the type of business that you are setting up and then decide on the ownership.
Visa Formalities – Visas are provided to every company setup in Dubai. However, the number of visas provided varies according to the size of the business. On the basis of the visas you can hire manpower for your company.
Paperwork – There is immense of paperwork involved when setting up a business. If you are alien to the rules and regulation of Dubai it is advisable that you hire a consultant who undertake all the legal tasks for you and ease out the formalities. These consultants with years of experience know how to get things done and it can speed up the process for you.
When setting up a business, don’t go by pictures or images. Make a physical visit to the site, examine the pros and cons and take active part in all the processes. Make a complete check list of all the parameters that you would take into account before investing your hard earned money and time into your business.