While Dubai is one of those places in the United Arab Emirates where the chances and opportunities for opening and flourishing of the enterprise are very high due to the present economical stability and the gap in the supply and demand chain, that lets the organizations and brand enter the region. Also the presence of the international customers due to heavy tourism flow opens up a window of opportunity for the brands to showcase their product and services into the global market and thereby increasing the chances of sales and good name.
If you are planning to test your luck in the region, following are some of the steps that you will need to follow for starting a business in Dubai.
- A hut for the local sponsor: for those who want to invest in any of the domain in this region, having a local sponsor is a must have requirement as per the rule of the state. Some of the other advantages of having the local sponsor includes:
- They can help with the better exploration of the possibilities.
- You can easily locate your enterprise anywhere in the city.
- You can find the best location in the affordable budget.
- It becomes easier to outsource the program if you have a good reputation with your sponsor.
- Select the location: Having a local sponsor can help you get a place in the free zone as well as with the contracts that deal with the government. While for the small business like those of the retail stores or the restaurants the local sponsor is not mandatory, but by having a local sponsor you can have the place of your choice. The advantage of having an enterprise in free zone includes:
- 100% Ownership
- Prompt start-up
- Duty free jurisdiction
- Select the type of Investment: once you have well explored the market it is right time to find out the type of business that you would want to invest in so that proper registration can be applied for.
- Confirmation of visa eligibility and requirements: For starting a business in Dubai, it is important to make a list of all of the requirements that you will need for getting the visa of the region so that pre-requisites can be completed.