Setting up a business in Dubai is not an initiative that you should take lightly. Without acquiring information about the countless elements involved in the process, there isn’t much chance that you will be able to succeed with your initiative in the long run. To make things easier for you, here’s a basic guide that is sure to help you get started:
Research and planning is important
First-time entrepreneurs are usually worried about the amount of money that they will need to invest when they set up an LLC company in Dubai. With finances dealt with, they wish to get started with their business right away – without proper research, and devoid of a plan. Do not make this mistake. If you are going to make such a major investment, make sure that you conduct proper research and do not rush into your venture without a plan in place. Taking such drastic steps is only going to bring losses to your business. Slow down, conduct your research and formulate a plan first.
The one mistake that most entrepreneurs make is that they dedicate their entire time to coming up with a business model, figuring out investment requirements and even consumer demand – what they miss out on is business licensing. Licensing should be made a priority, and you further need to make sure that this is done legally. To save on time and money, choose the correct licensing option right at the start. Setting up a business in a certain licensing authority or free zone only to find out that it doesn’t suit your business model is going to bring you major setbacks.
This particular element is more so dependent upon licensing jurisdiction apart from your own desire to set up your office at a certain location. In this case, there are several options for you to choose from. These include onshore, several free zones and even those licensed by the Department of Economic Development (DED). Remember, with certain licensing authorities you can even set your business up as a freelancer or a provider of professional services. Also, certain licensing authorities and/or zones may restrict your scope of activities, so make sure that you choose one that gives room for growth if you plan on expanding in times to come.
If you want to acquire more information about setting up a business in Dubai, then go to site and you will be able to learn so much more!