Business Set Up In UAE – Points To Ponder About

Business set up in UAE can be an overwhelming and a daunting task. You would be able to find many people, who back out at the very sight of the rules and the regulations along with the list of things they have to accomplish. However, if you are considering setting up a new business in the United Arab Emirates, then you need to think about the following points.

Identify the type of business

Some people do not do adequate research on the type of business they want to set up. In fact, they simply start a business, which may or may not be successful. Instead of simply diving into a new business, you should identify the areas of business, which are highly in demand. You should do this if you want to yield high profits in your prospective business. For instance, nightclubs, real estate, the export business, childcare, and such services are highly demanded in the city of Dubai.

Know the ownership requirements

According to the rules in the United Arab Emirates, there has to be 51 percent participation of the locals in any business, excepting in Free Zones such as the Airport Free Zones and the Jebel Ali Free Zone under certain circumstances. In case you are thinking of forming a partnership, then you should include only a national of the United Arab Emirates.

Secure your business license

If you want to do business in Dubai or establish a business set up in UAE, you would need a license for the same. There are commercial licenses for every kind of trade in the United Arab Emirates. There are also professional licenses which cover artisans, craftsmen, services, professions, etc. You must, however, remember that there are licenses for certain categories, which could be obtained only upon the approval of certain authorities.

Hire an Arabic interpreter

Most of the transactions in Dubai and United Arab Emirates take place in the Arabic language. It would help you if you could hire an Arabic interpreter to interpret documents on your behalf. He or she would help you negotiate on your behalf.

Hire a consultant

You should hire a local consultant when you are about to establish a business in the UAE. This should be done since you may not be familiar with the rules, laws, and regulations of the country. They can help you establish your business in the United Arab Emirates successfully and without any hindrances.