Are you planning to setup a new business in Dubai? You must be looking for answers to your confusions and the prospective incentives based on your investment in the region. Dubai is one of the most favorite business cities in United Arab Emirates. It is one of the most crowded cities in UAE with strong and promising prospective of new business success. Moreover, the UAE has sustained to reinforce its point within the international market. The prospects which exist, together with the UAEs robust relations with numerous key business and global markets, brands this as an area of choice for vibrant businesses.
Moreover, the transport and other infrastructure in Dubai are well-organized. The Dubai airport is regarded as one of the biggest international centers. It shares a huge share of nineteen percent of the total employment in the city as it offers over two hundred and fifty thousand jobs. In total, it contributes about twenty eight percent of the total’s Dubai’s GDP. So, in short; there are promising prospects of establishing a buying/selling running business in Dubai with availability of strong infrastructure.
Financial reformation has been reinforced with determination to support the corporate climate, increase investment in addition to develop the new dawn for an exhilarating private business sector which endures to safeguard that Dubai is comprehended as the incipient trailblazer in re-export.
Points of consideration for an entrepreneur to set up buying/selling running business in Dubai
To be an entrepreneur and to be an investor; are two contrary things. Investors always go for enhancement and multiplication of money factor but entrepreneurs look to grab new opportunities, introduce innovation and introduce a new product in the market. Either you wish to be an entrepreneur or an investor; you need to be vigilant, decision maker and a strong researcher as well as an analyst. Before you lay off your investment or idea into the Dubai market; beware to understand consumer trends and study the market. Be ready to start broad exploration into the commercial sector you intend to function in. Create a viable business plan including the deep report over market condition, prospective competition and expected results.
You need a local partner to operate business venture in Dubai. It is necessary by law. The local partner should have majority share to control the business affairs. However, there isn’t any necessity for the local partner to make financial contribution or investment for startup. But it can be a company or an individual partner. You can look for and study legal ways to remunerate the local partner.
It is mandatory for a new business to have its registered office in Dubai and you will need to present your substantial investment money to the Ministry of Commerce before inauguration and incorporation.
This sum is regarded as a guarantee against liabilities. It is always recommended to hire a local lawyer to deal with the process of registration and other legal affairs associated with the new startup. Good luck!