If you own a business which is all set to enter the realms of international market, Dubai is your destination next. Some may ask the rationale behind choosing Dubai as the next business destination but truth of the matter is that the state is to be found in a strategic location which is easily accessible for the clients hailing from Africa, Europe, Asia, Far-East Asia, and Australasia. Moreover, your business is always bound to find new clients in the UAE market which is growing at a brisk pace for the last few decades. You may also acquire the business setup services in Dubai, which offer you the best advice and the right strategy to enter into the Dubai market.
Before you make up your mind to enter Dubai’s business arena, you need to know one thing. Dubai’s Federal Law requires a 51 percent stake of a local sponsor or such a service in your business. This local sponsor will act as someone responsible for you as a foreign investor. There are two ways a local can be your business’s sponsor, i.e. the mainland and free zones.
In the mainland option, a UAE-based company or organization, or an individual acts as a sponsor of your existing business or startup. If you go for this option, your local sponsor will be a 51 percent partner in your business under the UAE Federal Law. The Dubai Economic Development is tasked with responsibilities of issuing, cancelling, renewing, and upgrading the business licenses in Dubai. The DED has office in multiple locations to facilitate more of the clients.
Free Zones Option
This option has found resonance with most of the international businesses entering the United Arab Emirates. This is your best chance of retaining 100 percent ownership of your business in Dubai. As the name suggest, free zone ensure freedom in business. Additionally, their staff offers services like presenting authentic strategies for starting your business, planning to itemize your business expenditure, suggesting authentic licensing for your business besides selecting the perfect location for it.
- Peace of mind guaranteed as you don’t have to find a local partner
- Enjoy full access to your business organization
- No limitation on business diversification
- No tax on your personal income besides exemption from corporate tax
- Brisk document clearance assured.
- Foreign investors have visa advantage with a three-year validity for them as well as their staff and family members.
You may always get more information about company formation in Dubai, UAE on this link.