Published on November 6th, 2016 | by Neha C0
Starting Your Own Business In Dubai
Have you always dreamed about the idea of starting your own company overseas? If so, there’s a lot you need to know. People like you start companies in Dubai all the time, but the problem is that there are different rules there. You’ll need to know what you can and cannot do when it comes to the type of company you can start. You’ll also need to know how to get started on licenses and account opening, not to mention your whole business plan.
While Dubai has lucrative opportunities for people like you, it still takes a lot of work and preparation. This is why you probably need help from a professional company that specialises in forming companies such as the one you’d like to form.
Types of Businesses You Can Form
There are a few different types of businesses you can form in Dubai. Each type has its own benefits. The goal should be to pick the type of business that is the most attractive to investors, so you should consider this when you’re laying out your business plan. There are mainland businesses, for which you’ll need to actually create a partnership with someone from Dubai in order to form because you’ll be operating on land. These types of companies are like LLCs because they are incorporated and consist of several people.
Next, you can form a freezone company in Dubai. These types of companies are only allowed to operate in free zones in the United Arab Emirates, but they can be owned and operated by anyone so you don’t have to have a partnership with someone from Dubai. The downside is that you can’t work anywhere, but you can operate the business from pretty much anywhere.
Lastly, you can form an offshore company that you can create in Dubai and operate anywhere, but you can’t have an office in Dubai so you’ll need to run it from somewhere else in the world.
All three of these types of companies are beneficial for different types of businesses, so it’ll ultimately be up to you which to choose. You should look into each type of company and see which benefits would align best with your business plan.
Getting Set Up
In order to get going on your new company, you’ll need to find a group of professionals that can help you with all of the regulations, licenses, and accounts. Because you don’t know all of the rules for forming a company in Dubai, you should be sure to get in touch with these experts before you move forward.
So where can you find a group that can help you with all of this? There are several options, but your best option is to start by looking online. You’ll need to make sure these advisors and managers can help you start the company by doing everything from signing licenses to opening accounts. They should also be able to help you with your business plan in order to ensure that your investors’ money doesn’t go to waste.