Dubai is not only a dream travel destination for many people, but it is also a dream business destination. More and more savvy business people are looking to the UAE market and asking themselves how they can get a piece of the pie.
If you have been considering expanding your company to Dubai (or opening a new one from scratch), read on for the ultimate guide to opening a business in Dubai.
1. There are plenty of benefits to opening a business in Dubai.
Considering there are plenty of business owners who are looking to expand their firms into Dubai or to set up an offshore or mainland company in the Emirate, there are apparently several significant advantages of electing this city for your base of operations.
These benefits include the tax-free business environment (the city does not implement an income tax, nor corporate tax or personal tax), the straightforward system for incorporation of companies, and the official policies that are focused on business development.
Additionally, the convenient geographical location, the suitability for trading and other businesses, and the advanced infrastructure that the Emirate provides all ensure that it is an environment in which companies can thrive.
2. It can be quite simple to set up your company in Dubai.
One of the main reasons that so many companies are considering opening in Dubai is likely that, in many cases, it is quite simple to inaugurate a mainland or offshore business in Dubai.
Of course, every scenario and situation is different, but many companies can find themselves incorporated in only a few business days.
To ensure that your company is incorporated correctly, as well as in the most efficient manner, it is suggested that you opt to work with a firm that has been through the process before and offers the most excellent solutions for company set-up in Dubai.
By working with a team like this, you will be able to feel confident that you are doing everything in the right way, from the get-go. Instead of wasting time trying to study the entire process, you can save that for the professionals, and you can concentrate on what you are an expert in — developing your company, increasing your product line, perfecting your services.
3. What it really comes down to is the team you build.
Even if you have a really successful business in your home country, it doesn’t necessarily mean that the success is going to translate — especially if you are not committed to building the best team possible in Dubai.
Obviously, it is essential to have a fantastic product, a unique angle, and an exciting marketing plan, but you also need people on the ground who understand the local culture and way of doing things.
The language, the marketing materials, the colors of your website may work in your home country, but they may not have the same impact in Dubai.
For this reason, it is crucial that you build a team of people who have your firm’s best interest at heart, and who are also aware of what the new target market and the audience will react positively to.
4. If you choose to move more than just your business there, you are in for a treat.
Dubai and its people are not merely friendly towards international businesses, but also to foreign people. In fact, Dubai is considered by most to be one of the most expat-welcoming places on the map.
By choosing to open a business in Dubai (or expanding your current situation there), you are in a better position to obtain a UAE residency visa, which then permits you to rent property, come and go from the country as often as you desire, and also qualify for a Schengen visa without hassle.
Considering almost 90% of Dubai’s population are expats, you have to think that it is a fantastic place for foreigners to reside.
Have you ever thought about opening a business in Dubai? What intrigues you about it? What stops you from making it happen? Let us know your thoughts in the comments below!
Raj Herry is the Founder and Chairman of Flying Colour Business Setup Services. His extensive experience comes from more than 15 years in the field of company incorporation for Dubai Mainland, all Free Zones across the UAE and offshore companies worldwide. He also owns several business centres offering furnished and ready-to-move offices in Dubai.