Business startup has always gained encouragement in Dubai since; it has been attracting the business investors owing to its business stability in the international market. They consider the startups as an unswerving engine of innovation; therefore, they provide the launch pad for the business houses for propelling towards their full-fledged potential. The present market trends of Dubai, offer ample scopes to the foreign investors for launching their business into the niche of import and export of essentials or other luxurious object or else in the tourism industry.
- Let’s Be Edified of the Rules and Regulations
Dubai renders great scope of making capitals out of the increasing tourist traffic and the food industry is also thriving to be one of the leading businesses in Dubai. But before you start you need to be acknowledged of various facts related to the Business startups of the city. This would curb the risk of encountering problems during your attempt at launching profitable enterprise in the land of UAE. Though there are plenty scopes available in Dubai, but there are some provisos that must be met for exploiting the potential of the city.
- Arrange a Local Sponsor
You need to take a UAE national as 51% partner of the business, who would be known as your local ‘sponsor’. A local company can impart you the privilege of locating the business anywhere across the city. This is like a blessing to the startup as then it would be able to choose the proper location in compliance with their budget. You need to pay the sponsor yearly; the amount of the fee is negotiable. Remember, you need to establish a good relationship with the local sponsor so that you may seek or his assistance while sorting out emerging issues with the relevant authorities.
- Opt for a Free Zone but Know the Provisions
If you want to avoid the hassle of dealing with the local sponsor then you are bound to open your business in Dubai the available Free Zones. However, it’s not a feasible option for those businesses that need regular visitors like retail stores and restaurants. A business that would work for or with the government must be registered as well, with a local sponsor. This is an ideal option for e-commerce websites, as they can easily set up their warehouse in those free zones without facing the complications of dealing with a local sponsor. Free Zones generally offer three advantages like 100% ownership, duty-free trade boundary and rapid start up.
- Prudently Choose the Business Location
The next significant step in the planning is to focus on determining the suitable location. Establishing a profit-oriented business would be of no use, in spite of the growing economy of the city, if your customer fails to reach you or can’t access you easily. Hence, choose the business location that is most convenient in compliance to the nature of the business.
Last but not the least; be ensured of you and your employees’ visa eligibility for avoiding legal complications.