Setting up a business is one of the trickiest ventures you will know. It involves building up everything from scratch with the specific requirements and preferences of the investor. Any wrong move and you lose your idea in the market or cripple your company of all its worth. Right from the infancy of the startup to its profit making phase, the the business setup remains susceptible to different kinds of fragile procedures and legal paperwork that cannot be swept under the rug. Starting a new business in a global commercial hub such as Dubai, there are numerous factors that will need your attention. Visa permits, company zones, renting offices, hiring resources and other legal issues are at stake.
To make sure you get a thorough idea of what you are in for, here are 5 things to take care while setting up a business in Dubai.
Number 1: Visa Procedure and Residence Permit
Getting a Visa is your top priority when starting a business in Dubai. Not just for you, but for your employees as well. Acquiring a visa is not that difficult since the Government always welcomes foreign investment, however, certain procedures require time and the cooperation of your partner (for mainland companies). Once the residency permit is available, you and your employees can start their operations and live in Dubai as expatriates. To get fast and hassle free visa and business setup services, you can always get help from a professional business consultancy firm.
Number 2: Set Your Business as an Onshore Company
Registering as an onshore company comes with numerous benefits. You get access to reasonably priced serviced offices and since you are registered with DED, the startup cost is low. You are liable to 0% income tax and finding resources for different designations becomes much easier. But you will also share 51% ownership with a local Emirati by the Government law. Although there are a number of ways to address this, getting an LSA or local service agent is the best possible solution to this.
Number 3: Selecting a Location
Before choosing a location make sure it is easily accessible from the road and does not suffer from high traffic. Calling your client to a distant place only to get them stuck in traffic is the last thing you want for your business in Dubai. Also, keep in mind the emotional perspective of the client when they visit your office or business center for the meeting. If you plan to make a lasting impression, choose a classy and posh location for your business setup in Dubai.
Number 4: Hire A Translator
Hiring a translator could be the best decision you made when setting up your business in Dubai. Translators help you get through difficult native jokes and metaphors without offending your clients right on their faces. They also complete the legal paperwork on your behalf along with other trivial tasks associated with your business setup. But translators are also quite expensive and for an entrepreneur, the budget might now allow hiring one. In that case, you can get a professional business consulting company to handle the clients and paperwork in cost effective packages.
Number 5: Online Presence and Brand Identity
Once you have established a physical office for your business, your next crucial step is erecting a website to create an online representation of your company. By creating a website, you not only automate lead generation but also invite customers from all corners of the world to buy your products and services. In order to get a solid impression and produce positive exposure to your audience, opt for a good Brand Identity service for maximum results.