14 April, 2021
Why Should I Start A Business Setup In Dubai?
The basics of business acumen dictate that a smart businessman will always look for the most lucrative opportunity for business setup in dubai, as the returns can be exponential in some cases. So why is it a surprise that a company registration in Dubai is on the cards for almost all such businessmen?
What Are the Investment Opportunities For Business Setup In Dubai?
With the onset of the Covid pandemic, entrepreneurs have been left with a massive challenge on being smart about business continuity measures. In our earlier column, we provided 7 ideas on how to ensure business continuity.
Yet another challenge is to identify the right business idea for a business setup in Dubai. While some ideas are considered successful in normal times, the business methodology and trends have modified expectations and service delivery. In another one of our earlier columns, we focused on what business ideas could be successful and relevant in 2020.
The short story is:
- Focus on training and education
- Think about an offshore company setup
- When executing a business setup in Dubai, look ahead for technologically enabling your business
- Your business should scale to delivery of services through online platforms
- Diversify your investments and always have an involvement in trading of some form
What Advantage Does A Business Setup in Dubai Give Me?
The clear advantage for any company registration in Dubai is the ability to tap into the immense potential offered by the UAE. Dubai is one of the most attractive markets for businessmen due to the following reasons:
- Strategically located
- Perfect hub between the east and western parts of the world
- High focus on the ease of doing business, as UAE is globally ranked #16
- UAE is one of the best economies in terms of fighting the global pandemic
- The UAE Government has a strong focus on providing Covid vaccination for its citizens and residents, thereby making it a safe country
How Can I Execute A Company Registration in Dubai?
The first step in executing a successful company registration in Dubai is to be smart and avail the services of a professional business consultancy company. In our earlier blog column, we focused on the advantages of having a business setup in Dubai done through these professional companies.
5 ADVANTAGES OF ENGAGING A BUSINESS CONSULTANCY EXPERT
- Your investment opportunities in Dubai can be efficiently leveraged as business consultancy is a cost-effective solution;
- The business setup in Dubai helps you achieve business efficacy through lean and agile business operations
- Since you focus on your core competence, it helps you obtain better control over core business operations during the company registration in Dubai
- You achieve leverage over investment opportunities in Dubai by maintaining a sustained and organic business growth
- Clearly aids you in the ability to scale your business depending on the economic need
What Should I Remember During My Business Setup in Dubai?
Here is a simple checklist for you to bear in mind when you are involved in a business setup in Dubai:
|Have You Decided on The Business Activity||Y/N|
|Have You Decided on The Trade Name||Y/N|
|Have You Decided on The Jurisdiction||Y/N|
|Have You Decided on Office Space Leasing||Y/N|
|Have You Identified Local Business Partner / Local Service Agent||Y/N|
We will elaborate on each point with slightly more details:
This refers to the core business activity or the core competence of your business setup in dubai. For your company registration in Dubai, you will need to identify the right business activity (or activities) that your company will be operating in. It is important to note that every company in Dubai must operate only within the business activities that they are registered for.
During the company registration in Dubai, it is important to identify the right trade name for your business. It can be a complex exercise, but it is mandatory to register a unique trade name for your company during the process of business setup in Dubai
For any business setup in Dubai, it is important to identify if your company will be in Mainland Dubai or any free zone. To know the difference between free zone and mainland, please do read our earlier blog column here
As per the mandated UAE law, every company registration in Dubai must have an office space associated with it. To help you in the decision on office space, do read our blog column on whether a private office space or shared office space is suitable for your business.
What Is an Offshore Business Setup And Why Is It Important?
One of the most important factors to consider during your business setup in Dubai is the offshore business setup. Currently, within UAE, only JAFZA, RAK and Ajman offer the ability for offshore business setup.
The advantages of an offshore business setup are:
- 100% ownership
- Full tax advantage
- Complete control over the business
- Ease of company document processing and attestation
The offshore business setup offers strong advantages to companies that wish to obtain good leverage for their business, while keeping the entity lean. It is an efficient method to perform a business setup in Dubai, and also obtain the advantages of regulatory compliance.
In short, it is important for a company registration in Dubai to consider various aspects, and gain as much benefit as possible. At the end of the day, if the offer is not lucrative, the business owners will not invest in it. To know more about business setup in Dubai, contact us for a consultancy session