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THE EASIEST WAY TO SETUP A BUSINESS IN DUBAI


Posted May 14, 2015 | Hits: 38
Country: United Arab Emirates
City: Dubai
THE EASIEST WAY TO SETUP A BUSINESS IN DUBAI


If you are thinking about opening up and starting a business in Dubai there are some things you will want to take into consideration before you take the plunge and try to move to the United Arab Emirates (UAE) to work on your new business venture.

If you want to start a business in Dubai you should know that the process of doing just that is rather complex and risky. It is imperative that you have some local knowledge from the start of things. It is also a good idea to have an experienced local lawyer that can help you get through the bureaucratic red tape.

Before you jump in too deep with your business idea, you should gather as much local knowledge of the region as possible. You should especially look into the industry that you are interested in working in with your business. You will need to develop a viable business plan for your business that includes forecasting and a survey of current market conditions. You should already have investors in place for your venture if possible. The law states that you are required to have a local partner in Dubai that holds the majority interest in the company. This means that the partner can control the business and it can be an individual or a company. The partner does not have to contribute financially to the start up business. You will need to register your business as well. Once it is registered you will have to show proof of sufficient financial resources to invest to the Ministry of Commerce. The amount you need to have tends to vary but it somewhere between $10,000 and $50,000. This amount is used as a guarantee against liabilities; however you are allowed to withdraw it after you have shown that you have it.
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