If truth be told, there are a number of investors who prefer Dubai to expand or start their business overseas. If you are also planning to try your luck in growing market of Dubai, then you will have to consider a few things so that you could get the best out of your investments. Let’s take a look into a few major things that you should be clear about when setting up your business in Dubai:
1- Which economic jurisdiction in Dubai is the best for your business?
One of the first considerations that you will have to make before setting up your business in Dubai is to make sure which economic jurisdiction in Dubai suits best for your business. Yes, there are more than one economic jurisdictions in Dubai. To keep things simple for you to understand, Dubai is mainly divided into two different economic jurisdictions. One is referred as Dubai mainland and the other one are the free economic zones where you can register your business according to the nature and scope of your business.
If you are going to establish your business in Dubai mainland, then you will have to get it registered with Dubai Economic Department that functions as the regulatory body for all the businesses that operate in Dubai mainland. But if you are considering a business setup in Dubai free zone, then you should know that there are many different industry based freezones in Dubai that are their to provide highly business friendly environment for businesses. One of the biggest reasons behind the popularity of business setup in UAE free zones is that these free zones are tax and duty free zones which help businesses grow phenomenally.
2- What type of license suits best for your business?
Another important consideration that you will have to make before setting up your business in Dubai is to be sure about the type of license that suits best for your business. You will have to be extremely careful when choosing the license that you are going to acquire for your business. This is because, you will only be allowed to carry out business activities that are allowed in the license that you have acquired for your business.
You will be able to choose from 4 different types of licenses according to the business activities that you are going to carry out in Dubai. If you are going to offer professional services in Dubai, then you will have to get a service license for your company. For trading, you will need a trading license and for manufacturing, you will require an industrial license. If you are going to offer your products and services virtually, then you will need to get an e-commerce license for your business to operate in Dubai.