In recent years, Dubai has grown to become one of the world’s largest and most notable business destinations. With world-class infrastructure, business-friendly regulations, and enormous tax benefits, it’s no surprise that investors, entrepreneurs, and business owners travel to the region to conduct business.
However, navigating business setup in Dubai can be challenging if you’re an ex-pat or foreign investor. Even with streamlined licensing processes, understanding the nuances, procedures, and regulations around operating a business in the UAE requires years of experience. This is precisely why so many investors choose third-party business setup experts in Dubai to help them with company formation, business registrations, and important renewals.
So, if you’ve thought about forming your new business in Dubai’s Mainland or one of the region’s many Free Zones, you’ve come to the right place. Below, we’ll discuss how third-party business setup experts can help you with licensing, visa acquisitions, crucial business renewals, and more!
Essential Factors to Consider for Company Formation in Dubai
The UAE government has made enormous strides in developing a user-friendly system for forming your new business, with everything designed to make the process easier for investors. However, if you’re unfamiliar with the ins and outs of conducting business in the region, it can be challenging to maximize your potential.
Starting a new business is a huge investment! And if you’re planning to form a company in Dubai, you’ll need a comprehensive grasp of your chosen activity. To help you cover all the bases, we’ve listed some of the most important things you’ll want to keep in mind when starting your business.
1. Local Sponsorship requirements
Although recent legislation has fundamentally changed this requirement for many jurisdictions in the UAE, some regions will require investors to seek local UAE sponsorship. These sponsors are required by law to own a majority share of 51% of your company. As such, you’ll want to carefully check which jurisdictions still carry this requirement with the local governing authorities.
2. Understand Dubai Business Laws
You’ll need to develop a working knowledge of laws, rules, and regulations surrounding your license, business activity, and jurisdiction.
3. Visa Regulations
You’ll need a comprehensive understanding of visa regulations and requirements for you, your shareholders, and your employees.
4. Perform Market Research
Before forming your company, you’ll need to perform market research on your product to understand its profit margins, the competition, and the market forecast surrounding it. By completing this due diligence, you’ll have a deeper understanding of how to operate and what to expect.
The Many Benefits of Hiring Business Consultants in Dubai
Forming a new business can be a difficult task, even for the most knowledgeable investors. However, having a thorough understanding of the playing field is crucial to success. Unfortunately, the time and expertise required to develop this working knowledge are not feasible for many foreign business owners. This is one of many reasons that entrepreneurs choose to hire third-party consultants. Let’s dive deeper into the many benefits these consultant experts have to offer:
1. Understanding Economic Zones
The UAE is divided into numerous commercial zones that each maintains its own rules, laws, and regulations. Staying in compliance with these rules is vital to conducting business in the region. Failure to adhere to these rules can result in significant fines and penalties. Hiring expert consultants means you’ll never have to worry about whether your business is operating legally.
2. Assistance in Local Sponsorships
As we’ve mentioned, in some jurisdictions, businesses are required to secure sponsorship from local authorities and business partners. While not directly involved in any of the business’s day-to-day activities, this sponsor will retain a majority share in the company.
Finding the right sponsors can be challenging, even for business owners knowledgeable in UAE business. But business experts, like MSZ Consultancy, have the skill to help you find the right sponsor for your needs.
3. Government Interfacing
Dubai has always maintained an ever-evolving system of rules and regulations. Many businesses must regularly connect with government authorities to renew and secure the necessary permits and registrations. But by hiring a consultant service, you can rest easy knowing professionals handle these critical processes.
4. Legal Clarity
Investors must complete many legal requirements before forming their business in the region. And for some investors, keeping track of all these legal responsibilities can be taxing. But when left up to business and legal experts like MSZ Consultancy, you’ll always fully understand laws and expectations.
5. Industry Knowledge
Having a consultant with a firm understanding of the many business activities in the UAE will allow you to streamline your company, maximize its resources, and help you outperform the competition. Remembering industry forecasts, trends, and tactics will give you the power to ensure your business reaches its full potential.
6. Error-Free Registrations
The license registration application system can still be tricky for outsiders despite being a streamlined process. Making a mistake or forgetting documents can result in rejections that cost your time and money. But by hiring business consultants, you’ll know that everything will be in order.
MSZ Consultancy is Your Number One Choice for Business Setup in Dubai
If you’ve contemplated taking up a business activity in Dubai or the UAE, you’re on the right track! MSZ Consultancy is dedicated to providing the assistance you need to stand out from the competition. From understanding business setup costs in Dubai to securing visas for shareholders and employees, we have years of experience helping companies succeed.
So, if you’re ready to streamline your company, maximize profits, and minimize unexpected costs, you want the help of the best business setup experts in Dubai. MSZ Consultancy is your one-stop shop for all things business in the UAE. Give us a call today at +971 52 544 1248 and let our team of consultant experts help you supercharge your business potential!