If you're thinking about setting up a business in Dubai, this article is for you. It will give you information on what changes have been made to Dubai's regulations and other key developments taking place that might impact your business. Stay informed and make the most of your time, as it's important that you're prepared before moving forward with your plans.
What's New in Dubai Business Setup
Dubai is one of the fastest growing cities in the world, where people from all over the world have made a name for themselves. Dubai has also been ranked as the number one business city in the world by Forbes.
In preparation for this growth, Dubai has made changes to their business setup requirements and guidelines. The new regulations will be put into effect on January 1, 2022. This article outlines some of these changes and what businesses can expect.
Steps To Registering A Business In Dubai
We'll break down the list of steps that you need to take when registering your business in Dubai.
First: Decide specific business activities. It’s important to outline the company’s products and services from the outset of its formation. Confusion will arise if the business activity chosen is not appropriate for the targeted product or service, and could lead to serious repercussions. For this reason, it is advisable to consult a company formation specialist when starting a new venture so that businesses will have the correct licenses and heaps of clarity in knowing its legal obligations.
Second: Choose the right company name for your business. The UAE is particularly strict regarding company names. In choosing a company name, avoid any names that are offensive or blasphemous. Do not abbreviate your name if naming your company after yourself. Your new company name must also be available to register.
Lastly: Pick the company type. This is the part where you need to decide whether to setup a mainland or a freezone company. If you want to start a business and trade with the UAE market, you need to open a branch in UAE, thus a mainland company. Alternatively, you can set up your business in one of the free zones and trade indirectly with the UAE market.
Our business setup specialists can advise you on the best option for your business type.
Why Dubai Businesses are Growing?
Dubai is a city that's bustling with activity. It has always been an important trading hub and continues to grow. Dubai is home to many trade and investment opportunities, which makes it a prime location for businesses. In 2022, Dubai will be in the spotlight once again as it becomes one of the best cities for business.
What You Can Do to Prepare Your Company for Growth
With the world rapidly changing and adapting, now is the time to prepare your company for growth. Research shows that almost 70% of business have been derailed because they were not properly prepared. It is crucial that you plan ahead and learn what is happening in the industry as well as monitor competitive information so that you can stay up-to-date with your competitors.
If you want to set up a business in Dubai, it will only take less than a week. Get in touch with Adler & Partners to get started with setting up your business in Dubai. We will help you through every step of the process, from drafting your legal documents to facilitating your bank account set-up. Contact us today to see how we can help you!