How to Start Up a Business in Dubai
Here are the things you must know before starting a business in Dubai:
- You must have a good idea about the market. Hopefully you would have prepared a viable business plan.
- The law requires that you have a local partner who holds the majority interest and can therefore control the business, which includes closing it if necessary, unless you have an Agreement with different conditions. The partner will own 51% of the company, therefore being able to call all the shots regarding it. Be it a company or an individual, the local partner doesn’t need to contribute to the start-up investment or participate financially at all. As with self-employment, there are various ways that a partner can be remunerated.
Take into account that if you want to own 100% of your company and do not want to have a local partner, the only possibility is to start a business in the Free Zone. However, rental costs in the Free Zone are most likely to be higher than regular rental prices within the city. Moreover, most free zone areas (such as Jebel Ali Free Zone) require audited reports at the end of each fiscal year, so you need to double check that.
In order to start your business, you must be aware that the process is complex and financially risky, meaning that local knowledge is crucial.
Regarding the cost of starting up a business, depending on what you need to do, you will realize you need to issue a trade license. This will require you to have a physical office, a sponsor or partner, employees, furniture, a bank account, website, telephone number, internet, stationery… and the list goes on. Not to forget all the formalities and the ever-rising costs you need to go through every time you want to do anything. It is estimated that on average you may need to spend around AED 250,000 in setting up a business. Of course there are other cheaper ways of establishing a business, for example if you want to be a consultant and you don’t need employees, and can settle for a hotdesk somewhere in a free zone. But if you want to trade or open a shop/kiosk somewhere, the requirements are much more.
WE CAN GET YOU STARTED
Now, we can help you get started immediately and without a hassle, especially if you are into trading and would like to bring in items/merchandise into the UAE. We can help you have all that you need at a minimal cost to start your business immediately. And that’s not all – you will have access to top branding and marketing services at competitive rates.
- Are you a female entrepreneur living in Dubai?
- Is your visa under your husband’s visa?
- Do you prefer a flexible solution for your business?
Then fill out the form below and we shall get back to you within 1 working day.