All of us know that Dubai is the capital of the UAE and this city offers multiple oppprtutnies to the dreamers. So, if you are starting a business in Dubai, or at least, planning to start one, then you must know a few things.
So, as we said earlier, this city is famous because it gives ampe possibilities and innovative business modules for all the companies around the globe. In other words, you will certainly get a lot of benefits if you do start a business in this part of the world.
Moreover, it’s also worth noting that starting a business in dubai requires you around eight days and six processes on average once you have completed all the legal formalities. However, before you begin the legal process or precudre, it’s essential to know a few details.
In this article, we will tell you about a few important facts that you need to keep in mind before starting a business in Dubai. So, now’s the time to go through this article and know everything that you need to know.
Here Are The Things That You Need To Keep In Mind Before Starting A Business in Dubai
So, as we said earlier, doing business in Dubai is a lucrative option. If the business module can attract the market, then you will certainly make a lot of revenue there. Of course, there are a lot of legal things that you need to follow there. So, before you plan to make a businesss there, it’s essential to know a few important facts. Well, without further ado, let’s take a look at some of the most essential facts about doing business in Dubai.
1. You Need To Know The Nature Of Business
First of all, it’s true that the nature of business will decide the type of permssin that you need from the Goverment. Whether it’s professional, commerica, or even industrial license, these will surely determine the very basis of the operation. Moreover, when you are choosing the nature of the bsiiness, make sure that some of the ventures like jewelry trade, legal consultancy, veterinary enterprises, etc need further permission from the authorities.
2. Ownership
Next, you should also check the ownership of the business. As a foreign national, if you want 100% ownership of the business, then you need to opt for a license. Moreover, you should also place it in one of the free zones of the land as well. So, it’s worth noting that there are particular types of action that these free zones provide. Moreover, there are around 45 free zones in the UAE with different kinds of categories as well. Therefore, you don’t have a dearth of options for sure.
3. Knowing The Legal Structure
Next, you should also have an idea about the legal structure of the country as well. Moreover, it also depends on your location and the nature of the business to a great extent. There are a lot of laws regarding the make up of the firm based on the location as well as business nature. In addition, it’s also worth noting that each free zone has its own limitations as well regarding the structure of the company. So, in order to know those, you have to go to their official sites and check out.
4. Trade Name Is Another Aspect
If you are starting a business in Dubai, It’s also essential to give a name to your company. So, it’s a criterion that the DED or department of economic development has specified. So, this trade name will become the identity of your business as well. It requires around three days to enroll a trading name and it’s valid for six months.
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