Dubai, being an ultramodern city in the Middle East, is a leading destination for Indian investors and entrepreneurs. The country offers immense opportunities to foreign investors from Asia and Europe to tap into the liberal tax laws, customs duties, and excellent transport network through the sea, road, and air routes. However, there are a few conditions which you should keep in mind for business setup in Dubai. It will help you launch a profitable enterprise and prevent additional challenges encountered in business.
Select an Emirati Sponsor for LLC (Limited Liability Company) business
If you wish to establish a limited liability company (LLC) in Dubai, then you require a local Emirati sponsor holding 51 per cent share of your company. He would act as a silent partner, but you need to pay him a yearly fee.
However, on boarding a local sponsor is never a stressful issue as multiple business consultancy houses in Dubai would assist you in acquiring authentic local sponsors. It is beneficial to develop a rapport with the sponsor since being a local he can help you in obtaining clients and negotiating with vendors.
LLCs Offer Huge Opportunities to Foreign Investors
LLCs business setup in Dubai has enormous potential especially for foreign investors since you can establish them at any location within the city. It is a boon as you can select the preferable location based on your budget and convenience. You also have the freedom of operating the business across several sectors involving various goods, services, and commodity business.
However, remember that the Dubai government does not allow you to deal with banking, insurance and money investment. You also need approval from the Department of Economic Development (DED) office in Dubai for the launch of your company.
Select a Free-Trade Zone to Enjoy 100 Per Cent Ownership
Foreign investors who want 100% ownership in their business should select a free-trade zone in Dubai for establishing the company. It also offers you tax exemptions and customs duty exemption. Moreover, you do not require any local as a sleeping partner in this business.
There are more than 30 free-trade zones in Dubai, including Dubai Airport Free Zone, Dubai Design District, Dubai International Financial Centre, Dubai Media City, Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone, and Dubai Techno Park. Each zone remains earmarked for one or more business categories, and the government offer license only to those businesses that fall under those categories. Dubai Multi Commodities Centre is a favourite free-trade zone for foreign investors having more than 15,000 registered members.
Confirm Your Visa eligibility and Other Documents
Finally, to establish a business setup in Dubai get a business visa which would allow you to stay in the UAE and operate a business here. Also arrange other documents like approval from correct authorities, trade licenses, and trademark registration certificates.
This was, in brief, the few things to keep in mind for business setup in Dubai. There are many business consulting houses whose advisors would guide you for a stress-free and speedy business set-up process.