Things to remember before setting up your business in Dubai
No matter what part of the world you wish to establish your business in, the one thing for sure is that it will be full of hurdles and laws that need to be followed. The same obviously holds true for Dubai as well. Given below are a few elements that require attention if you are considering setting up your business in Dubai:
The business type
The first thing that you need to do is to determine the area of business that interests you the most. On the whole, it is vital for you to focus on business types that are high in demand in the country. Carry out research in this regard so that you can be assured of profits in the long run. Businesses that are known to do best in Dubai include night clubs, services, clothing and childcare etc.
Consider the ownership requirements
The next step that you need to take is that of learning about the business ownership requirements and the laws pertaining to it in Dubai. To put it in simple words, if you wish to establish your business away from free zones like the Shams free zone, then you will be required to work with a local Arab sponsor. Yes, on the outlook, that sounds like something easy, but the fact is that the sponsor you work with will own 51% of your entire business. The sponsor has to be a national of the United Arab Emirates and he will take guarantee of your business. Without this sponsor, there is no way that you will be able to setup your business in Dubai.
Sort out your business licenses
Next, it is necessary for you to get your business licenses sorted out. There are professional licenses of different categories, so learn about them before applying for one. There are even a few licenses that need special approvals from the authorities, so read about them beforehand. Without a license, it will simply not be possible for you to setup business in Dubai.
An interpreter is necessary
Just so you know, a majority of transactions in the whole of UAE take place in the Arabic language. For this reason, considering that you do not understand or cannot speak the Arabic language, it is highly recommended for you to take on the services of a professional interpreter so he can translate everything for you and even conduct negotiations on your part.