Forming a new Company in Dubai is not an easy process. But, A Business Setup Consultant can help you to get going easily. In this Article, You will understand why you should hire a Business setup consultant for a new company setup in Dubai.
Benefits of New Company Setup in Dubai
Though you can start a conventional form of business in Dubai like a sole proprietary or partnership firm. It is advisable to form a Limited Liability Company because of its end number of benefits. Dubai, United Arab Emirates, Business Setup Consultants .Here are a few of them –
1. Legal status
A Limited Liability Company enjoys a legal status in Dubai if you conduct business activities through a partnership or sole proprietary firm. The contracts will be carried on behalf of your own name while a Limited Liability Company conducts its operation in its own name. This legal immunity will protect your investment from unnecessary litigations.
2. Limited interest
The most important advantage of a Limited Liability Company is that your interest is limited to the extent of equity in the company. Thus, if the company has to curtail its operation or withdraw from Dubai, you won’t be personally liable except in the case of fraud.
3. Organised working
Through a Limited Liability Company, you could expand your operations in different sectors through a Limited Liability Company to different ventures like subsidiaries or associate companies. The work carried out in a Limited Liability Company is usually organised through delegation of duties, and everyone is responsible for the growth and failure of the business.
In a Limited Liability Company, Business operations are carried out by the Board of Directors and management while the investors have funds invested. Such type of structure is not possible to carry on in a conventional form of business.
Licensing your Business for New Company Setup in Dubai
Whatever business activities you are planning to conduct should require a license from authorities in Dubai. If you are planning to conduct multiple business activities, you will be required to obtain a license for each one of them. Broadly, the following are a few types of licenses that are issued –
- A commercial license if your business is a trading activities
- Professional license for professional services, craftwork, or any form of artistic work
- An Industrial license if you are engaged in manufacturing activities
Different Forms of Entity Registration
Following are a few of the entity forms you could register to conduct business activities in Dubai.
- A Limited Liability Company
- Joint Ventures
- Subsidiary Company
- Associate Company
- A Strategic Alliance
- Free Zones Units
- Free Zones Limited Liability Company
- Offshore Units
Documents Required for Incorporating a Company in Dubai
There are a lot of documents that are required for the incorporation of a company in Dubai. Here are a few of them –
- A Notarised Memorandum Of Association (MOA) describes the company’s dealing with outsiders and includes the Capital Clause, Place of Business, etc.
- Notarised Copies of the passport of the shareholders and directors
- A written representation from the directors that they will act as directors in the company
- The license of business activities
Advantages of Hiring a Business Setup Consultant
It is an exhausting and time-consuming process to set up a business in Dubai. Primarily there are numerous numbers of free zones, and each one of them has different regulations and business activities. However, The perk of setting up a business in Dubai far exceeds the hassles you face, such as zero tax on corporate income, a lot of capital tax exemptions, etc. It is advisable to hire a business setup consultant to work your way out. Here are a few of the advantages of hiring a Business Setup consultant to set up your setup your business in Dubai, United Arab Emirates –
1. Attention to business operations
Suppose you have to run the business operations in Dubai. It is an ancillary activity to get the documentation and registration of a company ready. Thus, hiring a consultant helps you to focus your time, money, and efforts on establishing your operation and capturing a big market share.
2. Let the expert handle it
Let us accept that legal documentation and incorporation is a tricky process. You may not have any education or prior experience in setting up a business in Dubai. The legal team of experts is well equipped with resources to get it quick and easy.
3. It is a cost-effective operation
Business theories suggest that as you scale up the operation, the cost per unit falls down. Similarly, Business setup consultants have years of experience in incorporating companies and setting up businesses. If they work for you, they will do it in the most cost-effective ways. While you arrange the resources individually, there may be chances you may end up paying some extra bucks.
4. Save your time
You have years of experience running businesses, and you do it better than setting up a business. Thus, Save your time from this and invest your time in the business to scale the operation in Dubai.
Offerings by consultants are very customised according to your need. They offer values for you to cater to your needs and requirements. They know the challenges in your business ideas, and they can assist you early.
Choose a right Business Setup Consultant
It is important to know the experience and size of the consultant. It may not meet your requirements in time. Spend your time on their websites or ask them directly. It is advisable to document your requirement very early to showcase your ideas and reasons behind setting up a business in Dubai.
Alright, a new company set up in Dubai would always be exciting because of the growth prospects it offers, and Dubai is almost the centre of trade and commerce in Middle Asia. A consultant’s role is important to document everything and get the registration within time and effective with cost. There are different forms of venture you could register in Dubai and get started with. It is advisable to form a Limited Liability Company due to its enormous advantages. It is also considered one of the most popular and widely accepted forms of business. Hope you have enjoyed reading it so far.