Are you a First-time Entrepreneur in Dubai, UAE and you don't know where to start? Here is our advice.
You know the basics... you have a good business plan, you want to get a trade license in Dubai and you have the finance and you're ready to enter the market.
Now comes the big questions…
Where do I start a business?
Which emirate would be suitable for my business?
Will I be sharing 51% of my profit with someone? Why should I?
Before we answer these questions you should know that UAE is such an adventurous location that it has become a major international hub of business and if you decided to set up your business in UAE that is a good start.
So that brings us to the question where do I start my Business? Well… you can either start it in the UAE local market, which is also called UAE Mainland which gives access to all local traders, distributors, and suppliers or you can start it in any UAE free zone. By the way, did you know that UAE has more than 50 free zones? So depending on what your business activity is or how much your budget may be, you can pick a suitable free zone of your choice. You also have another option in hand, an UAE offshore setup. For more details visit our website wwms.ae.
So what’s next? Which emirate do I start my business in?
Now that depends on your business activity, compared to all the Emirates, opening a business in Dubai is the best option but there is always a choice. You can set up your business in any Emirate as you wish. If you want to trade freely in the UAE local market, any free zone or even outside UAE, then you can set up a business in UAE mainland but if your into importing and re-exporting then you can choose any free zone, and if you choose to do business in UAE free zone that doesn’t mean you can’t trade in the local market, you still have the privilege to trade in the local market by paying 5% customs duty. For more details visit our website wwms.ae..
Now comes the question which everyone is most concerned about… Will I be sharing 51% of my profit with someone? Why should I share my profits?
They say to start a business in UAE mainland you should have a local sponsor who will hold 51% of your business. But let us put it across to you this way, the presence of a UAE National either in the shape of local service agent or a local partner is mandatory in all mainland licenses mainly to monitor the visa applications and signing legal documents. All business operations and bank accounts will be in your complete control. And if you choose to start a business in any UAE free zone then there is no need of a local UAE national so that means you own 100% of the company. For more details visit our website wwms.ae
At the end, it is advisable to take the help of a professional like worldwide management solutions to guide you with the process and you are good to go.
We worldwide management solutions are corporate service providers in UAE and we provide company formation services in UAE Mainland, Free Zone and Offshore across 87 international jurisdictions. We also provide services for Intellectual Property, PRO Services, Accounting and Book-keeping Services, IT Solutions , Immigration Services, Office Space Solutions, Trade Finance & Facilitation, VAT Registration , Filling Services, Tax Reclaim Services.
Our UAE office consist a team of 20+ Employees with over 15 years of experience handling over 1500 clients in UAE. We believe in building a long-term relationship with our clients. Check out our website for more information https://wwms.ae/ or call us on 971-4-3213117 / 971-505034944
To be continued…