UAE is undoubtedly one of the best places to start your business. Its top-notch infrastructure and no taxation policy have always attracted entrepreneurs to try their luck in business. People across the world settle their business and enjoy a great lifestyle. It even offers free trade agreements and cost-effective import, export, and logistics.
The UAE market is not only confined to providing business opportunities to local people. Rather, it is home to many new businessmen from around the world. If one has a keen interest in international business, UAE is the home for them. Due to its strategic location, it helps many businesses grow.
Guide for Foreigners to Start Their Business
It is a wise decision for a foreigner to start a business in UAE. However, an individual should consider and know a few things before starting a business in UAE. Below mentioned are a few points to consider before starting a business in UAE:
- Location: UAE has many industrial and commercial locations. You must ensure appropriate location along with the city in which you wish to set up your business
- Type of business license: Depending on the nature of your business, you will be offered a relevant license. It is always good to check the market and reliable business option
- Look for a local sponsor: It is always beneficial to look for a local sponsor as they can help you in many ways
- Complete Application form: Your legal representative should complete an application form and present a business plan and get it approved
- Apply for a Bank account: Once you have received approval and all relative documents for your company, you should apply for a bank account
- Visa Processing: Once all the above steps are done; your business visa will be processed, and you are good to start the business
Why select UAE for business?
The reasons are numerous. It is an economic hub and has an international prominence. It also has free zones and allows 100% ownership of the business. There are approvals required at various stages, which also makes your business completely legal and reliable. Also, the economy of the UAE is diversified and also liberal.
Things to Take Care while Selecting Company Name
When in a company naming procedure, the following rules have to be followed:
- The company name should not match a previously registered one
- Should abstain naming company in the name of any religion or governing authorities
- Should be within public morals
- A legal form like LLC, etc. is mandatory
- Must match the business activity and services provided
It is a wise decision to start a business in UAE. But if you are new in the business field, an expert can help. Emirabiz is one such firm that can help you set up your business. They have goodwill in the market, and they can help your company grow in the long term. You can contact them for superior guidance. They can help your business grow in a long run and save you from many hassles.