Whenever someone plans on starting a business in other parts of the world, the number one destination that comes to mind is that of Dubai. The reason for this is rather simple. The reason is that Dubai and the UAE at large has gained immense popularity over the last few years as a business hub for the world. Every single brand that you can think of has established its branch and operations in Dubai. It is for this reason that every businessman wishes to establish his business presence, irrespective of how big or small, in this wonderful Emirate. However, a company formation in UAE is not going to be as easy as you might think. This is because there are many different laws and regulations involved, all of which require you to fulfill different requirements. Here is a look into the different steps that you need to take to get started:
- Sort out your documentation and visa
Before anything else, you would obviously need to get your visa sorted out. You will need to apply for a business visa. For this, it is necessary for you to ensure that your business documents are in proper order. Apply for your visa with all the right documents to ensure a smooth process.
- Choose the right location for your business
When it comes to establishing a business in Dubai, there are two options that you have in terms of location. On the one hand, you can establish your business in the mainland, while on the other hand, you can opt for a Dubai freezone company formation. When it comes to the mainland, the process is a tad bit complicated. There are a number of laws that you need to follow, including having to take on a local Arab sponsor. While this might sound simple, the downside is that the sponsor will get to hold 51% or the majority shares of your business. In an ideal situation, you would obviously not want to let another person hold the majority shares of your company. Things are the exact opposite when it comes to the freezone as there is no need for you to worry about having a sponsor hold the majority shares of your company.
- Apply for your business license
To run your business legally in the UAE, it is necessary for you to apply for the right licenses and permits. Make sure that you do so with all the right documentation to ensure a smooth and easy process.