Dubai, being once known as a desert city and now a city of endless possibilities, is undeniably, extravagant and promising.
Its emergence as a commercial hub over the last 15 years has been way too rapid that it is now among the easiest and fastest to set up a business globally.
Launching a business in the region, whether branching off an existing company as part of a geographic expansion strategy or starting out a completely new different enterprise can be as fast as a flash.
In a week or so, you will be able to get your business ready with just a few ‘must-do’ and ‘must-considered’ steps.
First, you must identify the correct type of your venture. This will determine the category of your business license, which will be reflected in the trading name.
Second, the activity your business covers also defines your business structure and type of license.
Third, most of the Expats who are having a 100% ownership of the company, establish their business in a Free zone Authority where minimum official procedure and duration is needed; hence the process is comparatively straightforward.
Setting up a business in Mainland Dubai, on the other hand, requires a trade license from the Dubai Economic Department. This license requires you to have a partnership with a UAE national, who has to compulsory hold at least 51% of the total equity of the company.
Lastly, you must consult with a legal counsel in Dubai UAE to have all your legal documents (Memorandum of Association) assessed. When organizing a business, nothing is as vital as priming your paperwork as this will determine whether your company will operate in terms of profit or loss.
From business opportunities to enterprises in all sizes clearly manifest the rise of Dubai, from a desert city to a city of endless possibilities.