Dubai has always been known as one of the most visited tourist destinations. However, the recent development of infrastructure and facilities has made it a hub for low-cost business setup in Dubai. As a low tax environment located at the crossroads of several continents, it is a perfect place for your business to thrive.
All you need to do is hire a reputed company formation specialist, of which you can find many and can rest assured. They know the environment you are working in, the laws you need to understand and will ensure that you have your business setup and running in no time. This article further covers a few relevant topics that you need to fully understand before setting up a business in Dubai.
How Do You Start A Business Here?
As most of the professionals here will tell you, the best reasonable way to develop your business in Dubai is to choose one of Emirate’s free zones. Each free zone here caters to a specific type of industry, so you will have to decide which one suits your company’s requirements the best. You should also know that every free zone is slightly different from the other when it comes to transactions.
However, on average, you will not have to follow any currency restrictions or tax rates. You will also get repatriation of the profits and be exempted from any custom taxes. This makes free zones the best possible location for developing your new business. The main concerns you should keep in mind, however, are:
- Deciding On The Type Of Business You Will Run:
This is one of the first considerations you need to factor in. it is very important that your chosen activity is in relation to the business you will run. This will help you avoid any further fines and even the cancellation of your license. In addition, you should make sure that your business is clean and compliant with the laws here.
- Choosing A Company Name:
Dubai is rather strict when it comes to choosing a name for your company. There are a few regulations you much follow, like avoiding language that might be seen as derogatory. You will also have to avoid any names that are already famous or taken by another well-known organisation. Another rule you have to follow is to avoid using abbreviations if you are naming the company after yourself.
Cost of Setting up A Business Here
The cost of setting up a business in Dubai mainly depends on the size of your company and the activities you will conduct. This is what makes a low-cost business setup in Dubai rather easy. For an idea, the introductory expense you are looking at will be something around AED 20,000.
However, these free zones often run special offers every month, which keeps changing. Make sure you hire a professional service like Emirabiz to know all the latest prices and best offers in the area. They have been working in this industry for a while now and know all the intricacies of the market.
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