When many people are trying to decide where to start a business, Dubai usually comes up very high on the list. There are so many benefits to doing business in Dubai. From the favorable tax structure to the access to many different markets. It’s no surprise that it is so highly rated when you take a big picture look at what is happening there.
That doesn’t mean that it is easy to start a successful business there, however. You’ll have to have a different approach than you may usually. For instance, using audio and voiceover production Dubai is going to make your marketing efforts a little unusual. There is also the bureaucracy that will be different even considering how streamlined it is for businesses.
To help you navigate these waters, we put together this article with a few of the basics to start a business in Dubai.
The best approach to make sure that you are on the right side of the local regulations is to hire a local specialist. They will guide you through the process of setting up a company in Dubai. There are regulations that are going to be much different there than in other parts of the world.
Compliance is essential no matter where in the world you're setting up a business. However, many of the regulations will likely be unfamiliar to those with experience in business in the West.
Running afoul of the local compliance issues is going to affect your ability to do business. Thus, it is very important to start on the right foot. Even understanding business etiquette is important. Hiring a local who understands it is crucial to help you get on board with how locals do things.
The right commercial structure is going to ensure that you are able to do business in the most effective and efficient way possible. For most people opening a business, this is likely going to mean that it is a foreign office. If the headquarters of the operation is outside of the UAE, then you can open up an office there. This is the only place where it can be completely foreign-owned. That is, as long as there is a local service agent managing it.
Otherwise, if this is a standalone operation opening up first in Dubai you have choices. Choose between an onshore LLC or a Free Zone LLC. Free Zone LLCs operate off the mainland of Dubai. They allow for 100% foreign-owned limited liability companies.
The UAE market is very complex. You must rely on cultural aspects of the history of the region to understand it fully. Make sure to go very deep into the research of the industry that you are entering to grasp the market.
The market is going to be very different from the same market back in your home country. It’s very important to know what you are getting into with trade agreements.