Dubai, UAE is a diversified economy with global connections to start your business. Every day the chance of growing business is getting higher.
Starting a business in Dubai is the most friendly option for investors. But you should have a clear knowledge, clarity, research about their economic zone, legal registration process, the cost for forming business & so on. You will get a primary idea doing local market research but for the advanced procedure, you have to keep in touch with the local consultants. Here comes the importance of hiring a professional business consultant who will guide you throughout your journey.
Sometimes new business people or entrepreneurs can find it a difficult process to cope up with the location, capital & related legal process of Dubai, as it offers different business strategies in terms of economic jurisdiction. In a nutshell, going through this entire process alone is quite challenging. A business setup consultant can help you with this, as they know the laws and regulations, as well as the potential challenges you might face.
Choosing the best business setup services in Dubai can help you set up your company from scratch, or just provide advice on how to have a smooth start-up process.
Some Factors before starting your business
1. If you want to set up a mainland company you need to look for a local sponsor.
2. For free zone companies look for the cheap license registration process.
3. To set up offshore company registration, research about the type of visa eligibility.
4. Know the laws and regulations for trade license registration.
There are other technical & crucial steps that you might not know but a good consultant can provide you with accurate business strategies with plans according to your business idea to score on. An expert business set-up consultant can only help you with the above option I have mentioned with the minimum cost you can bear.
7 Benefits of Hiring a Business Consultant in Dubai
1. Knowledge About the Dubai Economic Zone:
Dubai’s economic zone provides you 3 types of zones to start your business. They are Mainland, Freezone & offshore.
If you choose a mainland company you will be able to expand your territory inside & outside of Dubai. Under mainland business, you can set up an LLC company in Dubai & a branch office in Dubai for the offshore business person.
For the Freezone company, you will get 100% ownership with 0% taxation facilities.
Outsiders can trade their business in Dubai with multiple currency facilities.
These 3 types of zones belong to different regions of Dubai. The cost of company formation also varies regarding the region. A business consultant can help you to choose which economic zone will be perfect for you & your business.
2. Helps to find your local sponsor/Business Partner:
Finding a local sponsor in Dubai is mandatory if any outside business person wants to set up a mainland company.
It is a crucial part to find a service agent who is trustworthy to hold a 51% share of the company. It is a law imposed by the UAE government that, if any foreigner wants to trade business they will hold 49% share of the company. The local sponsor will only get the benefit from the company without involving any administration or management activities of the company.
Hence it is important to find a good service agent & no one could do this job better than a local business consultant can.
3. Good for Startups & SMEs:
Dubai is a place that welcomes all business ideas irrespective of their company size. Practically. Startups & SMEs face problems for money & time.
Also to form a business in the heart of UAE can be challenging for them. Maintaining a personal consultant may be a big issue for the low-budget. So, subscribing to a business company can be fruitful as they will provide you with all the ideas, advice, legal paperwork, low-cost license registration with a customized budget plan under one roof.
4. Better Understanding Of Business Jurisdiction or Region:
Running a business in any country of UAE is easy & adaptable while you have the proper knowledge of the different jurisdictions. Out of 40 free zones in the UAE, most of them are located in Dubai. Business activities are different in every jurisdiction.
As UAE has multiple jurisdictions, they have different laws, legal processes, trademark registration processes according to the jurisdiction. If all the laws are not taken carefully this could be a big risk such as penalties.
So, a professional consultant can help you to understand the jurisdiction laws properly to avoid such kind of risk.
5. Help in Legal Formalities:
Legal formalities means, registering your services, applying for a trade license to the Department of Economic Development. There are several processes involved in issuing licenses.
Business service provider helps to get all the legal documentation & paperwork done without facing any hassle.
6. Provide A Smooth Trademark Registration Process:
Registering your business trademark is the second most important step to establishing your business as a registered entity. A trade is a symbol that reflects your business’s motto, identity & services.
According to the UAE trademark registration authority, your trademark will act as a safeguard for your company & reflects 100% ownership.
A professional business consultant knows the legal process inside out for the trademark registration from the initial steps. They can help you to go through this process smoothly.
7. Conduct Market Research:
Dubai is greatly known for businesses such as real estate, import & export, travel & tourism, personal & beauty care services.
A local business consultant knows the potential competitors of your business idea that you are going to launch. Also, they are aware of the present conditions of the current Dubai market. They can help you to choose the budget of forming the business set-up with bare minimum budget. They can aware you about the business risk you can face in the future if you make any wrong decision. In short, they will give you a proper guidance about how to run your business smoothly.
If you are local or outside who is starting a new business & looking for advice from a professional then consider the above-mentioned point. They help entrepreneurs with startup advice, knowledge on local laws and regulations, taxation, financing options, etc.
For more business consulting advice contact KWS Middle East. KWS Middle East is a leading business consulting service that provides- any kind of business setup(Mainland, FreeZone & OffSore) in Dubai, business support(Trade license, Visa service, Legal Translation service, Trademark Registration, Company liquidation, Finding local sponsors) & so on.