No matter how keen and careful one maybe, the possibility of committing a mistake is bound to happen. To ensure the company formation becomes a reality, you must always keep a check on every step.
To have the correct legal guidance and advisory from the right consultancy who can furnish the right type of information with years of experience in this field will be the right choice to get you going to incorporate your company in the UAE.
Here’s a few mistakes one should avoid making
- Relying only on information available on the internet: The internet can provide you with a variety of choices and different sort of information which some of them maybe outdated which leaves you in a confused state of mind while setting up a company in the UAE. Therefore, it is always advisable to have an expert opinion for a hassle-free setup.
- Reduce haste & Hassle while setting up the business: Time is money when you’ve decided to setup your business and it is quite normal to expect the company license to be issued in the shortest time possible. Take time to reconsider every step and point as its for the long term growth with proper planning and advice you’re good to go.
- Choose the right business activities, Free Zone or Mainland location for your business: Choosing the right business activity for your license and the right Free Zone and location pertaining to your business activity is the most important and crucial step in setting up your company. And to achieve this important step, the right consultants will be able to guide you the best.
- Proper agreements with local sponsors: To setup a company in Dubai Mainland it is necessary to have local sponsor. The UAE Local Sponsor holds 51% of the company shares, it is very important to have a legal shareholding agreement with the sponsor. The complete notarized agreement with all the information on shareholding and mutual responsibilities has to be recorded to avoid further disputes.
- Opening corporate bank account without checking the banking charges: It is necessary for investors to choose the bank which is suitable according to their requirement and business activity. Therefore, it is very important to be aware about the hidden and recurring charges that banks will charge.
Smart Zones UAE takes pride in being an expertise in this field since 2012, we help many investors make the right choice following the legal structure in UAE and make their establishment in the industry a success.
Connect with our Business Incubators to know more: hidubai@smartzonesuae.com
+971 527797111/ +971 529604444
