Everything you need to know about a business startup in UAE

Everything you need to know about a business startup in UAE

There is countless number of people who want to try their luck in business but they do not have the resources to get started with it. This is a very depressing situation. Not everyone has the temperament to work under a boss and earn a limited amount of money every month. This thing can get into the head of some people and they will start considering themselves as failures. But this is not the case. You have to be very sure about what you do and love it too. If you are one of those people who have started considering themselves the failures, you have a chance that no one else have. After all what do you have to lose? Maybe this is the time you give your widest ideas a shot. This is how many businessmen started and who knows you become one someday too.

Whenever we talk about people who want to do a business with small amount of money in their hand, we think of one place that supports such people. This place is none other than UAE. There are a lot of people who have a thing for business and UAE has supported them to give it a try. This is because UAE has very linnet laws regulating the business. It gives people a chance to earn first before they have to care about paying taxes. This is something very helpful for the new entrepreneurs. If you think that UAE is a best destination for your business. You should consider following things first.

Choosing the place where you want to work in:

UAE offers a lot of places where you can start working in some of the best setups include Fujairah free zone company setup. This is the free zone that has been supporting many businessmen from around the world. UAE gives you two options broadly. You can choose either a free zone or a main land company setup. This is the choice that needs most care and thought to be put in.

A free zone is a place where you can own your business completely. You will have to pay minor taxes and you get to own almost all the profit that you earn. This is very attractive for some specific fields of business. Not every business is suitable for a free zone setup. Every emirate in UAE has more than two free zones and all of them are committed to specific business activities. When you chose a free zone you are bound to work in that particular area only. Weigh down the pros and cons of free zones and then decide which one you find the best for yourself.

The second option is to have a main land company setup. Main land companies need a local sponsor who has to own 51% of the business. You can negotiate with the sponsor and decide the terms of this partnership. You can just pay him a fee and use his name and all he has to do is to deal with the officials representing your company. But the main land will allow you to have a trade all around UAE. Weigh down things and then decide what do you want to do and where you want to get started.  

Type of business that you want to set up:

The next thing that you have to do is to decide the type of company that you are going to own. Even if you have a shams free zone company setup, you still have many options to choose from. Company setup can be corporate. This needs a lot of investment and being a new business man you might want to skip this one. A very new type of company setup, which people have started, liking more than ever, is an LLC. LLC stands for limited liability Company and this frees the partners of business from any harm to their personal assets in case of any loss in business or the debts that they might have to pay. You can have from 2 to 50 partners in an LLC and the processes to start such a business are very easy and understandable. You can decide the way you want to run the partnership and divide the profits. When you have so many options you need a free mind to think and decide the best one for yourself.

Finding the local sponsor

If you choose a mainland company setup you have to find a local sponsor as well. Local sponsors are available because this whole process is to empower the locals of UAE and they consider sponsorship as a career option. You have to find someone who is above 21 years of age and then decide the terms and conditions that your business would be running in. Once you have everything decided, it is better to get the legal documentation ready as well.

Getting your documentation ready:

To get the permissions and licenses you need certain documents. Complete all the required things in time so that you do not have to face any consequences and delay because of them. Even a single missing document can make your application get rejected and then you have to get started from the beginning.

Getting the license:

Apply for a license in the relevant business. You can do it as soon as you have your documentation ready. Once you have the license you are free to work in the land of UAE.

Getting visas:

After getting the license you can move to UAE and work at your business by living in the same land. Getting visas is very easy for the owners of companies in UAE. You can even bring your family in too if you meet the certain set criteria.

Start giving your luck a shot:

After all these things are done, start working and give your luck a shot. Maybe this is the beginning of your success story. Live it to the fullest and do the best for yourself.

Leave a Reply

Your email address will not be published. Required fields are marked *