Dubai in recent years has become the international platform where all kinds of cultures are brought together. One of the most visited and liked places on earth when it comes to global tourism, Dubai is the place one could consider if starting or expanding their business internationally.
Why start a business in Dubai?
There are many kinds of businesses one could consider when planning to operate in Dubai, and many advantages that Dubai holds over other countries to set up a business internationally, or even starting a business company from scratch without being permanent in the state or the country.
Some of these advantages are:
- Best safety and security
- Events and exhibitions around the year
- 10-year residence visa for investors
- Wealthy residents
- Large number of tourists
No investor or an entrepreneur would consider investing in a place where the law and order do not offer enough support to operate safely, this issue is faced by investors even in seven world-class business centers such in Europe or North America. But UAE offers the best law and order support any business or company would want and are one of the best in such regard around the world.
Dubai goes to all lengths to provide the best marketing experience bringing the markets of the world together in Dubai, providing the businesses operating their opportunities to expand their operations in other markets and to expand their contacts around the world. Such exhibitions are not confined to just one business type or any one day in the year, but exhibitions that are featured include fashion, art, automobile, technology, real estate, beauty, just to name a few.
UAE when compared to the rest of the Middle East, has a quite friendly attitude towards outsiders, and such a friendly attitude extends even more towards the investors. Dubai has announced a 10-year residence visa for investors and professionals. Investors and professionals have also in turn made Dubai their second home, benefiting Dubai as it also hosts most professionals and investors.
The residents of Dubai, both local and foreign, are wealthy due to high income, and low taxes. Such residents can afford any luxuries that a good business offers and tend to boost the economic circle of Dubai.
Dubai as said is an international hub where all people from all around the world are brought together, and this not only means the people residing there, but Dubai also brings in most of the tourists as it is one of the most liked places for people to spend their vacations in. These tourists also bring in profits for the business companies in Dubai.
How to form a company in Dubai
Setting up a company in Dubai is not very difficult, there are some steps one could take in order to make sure the process goes swift and sound.
Some of these steps include:
- Choosing your business activity
- Choose your company name
- Finalizing all incorporation paperwork
- Open a bank account
- Process your visa
Choosing your business activity can matter the most, as it would also help you to plan for your overall business structure and the way you plan to operate. The kind of business you plan to do will help you determine the kind of employees you want and the kind of places you have to rent. For example, if you have a business that relies on imports, maybe renting a place near the port would be a good idea.
Choosing your company name is also a very sensitive subject when it comes to registering a company in the UAE. Any name that includes an offensive language is forbidden, or any names that offend any religion or are linked to sectarian or political groups, such as the FBI or Mafia, are also forbidden.
You would be required to complete an application for your chosen name and activity and would need to provide copies of the passports of the shareholders to the relevant government authorities.
Once you have received your paperwork back, and have been issued a license, you would be required to open up your corporate bank account. The UAE has many bank options for you to choose from, Commercial Bank of Dubai, HSBC, Citibank, and Barclays, are some of the many options that could choose.
Such steps and business ideas can be used to ensure, fast and easy company formation in Dubai.
