There are plenty of opportunities for foreign investors that make it possible for them to tap into the UAE market. However, setting up a business in UAE does not come easy and there are a number of things that you need to know before deciding to do so. Here’s a look into a few of them:
Having a local sponsor is necessary
If you are truly interested in establishing a business in UAE, such as a locally registered LLC business, then it is necessary for you to take a UAE national as a 51% partner. These are known as local sponsors and must be paid a yearly fee. However, in order to get a sponsor to work with you, it is necessary for you to build and hold a good rapport with them. This will also help you resolve any issues that might arise with them in the long run.
Want to own your business? Select a free zone!
If you do not wish to take a UAE national as your partner, then the only way available to you for establishing your business in the UAE is that of doing so in a free zone. There are a number of free zones that you can choose from, but these would not be the right choice for you if you have a business that must necessarily be run in the city. This holds true for businesses like retail stores, restaurants and those that work in sync with the government. The benefits that a Fujairah free zone company setup has to offer are inclusive of:
- Quick setup
- Complete ownership
- No duty on customs
Choose a location wisely
Choosing the best location for your business is extremely important. When you learn how to start business in UAE, you will find out how important it is for you to choose a location that will profit your business. If you have a shop or an office that delivers certain services, then it is best for you to locate it right in the center of the city. In any other case, you can do so in a free zone while paying attention to the costs, distance and whether it will prove to be beneficial for your business.
Get in touch with a registration agent
One of the best things for you to do when setting up your business is that of contacting a business advisory firm. The best part about their services is that not only will they help you understand the setup process, they will register the company for you as well.