How Can You Run A Business In Dubai From Your Home Country?
Dubai is a perfectly positioned gateway for tradition: north to south and east to west. The UAE market is smart and moneyed with digital switches, favorable tax, and physical infrastructures. Furthermore, Foreign Direct Investment (FDI) grows exponentially in Dubai, with people from across the world settling their business in Dubai.
If you are planning to start and run a business in UAE from your home country, it’s time to take a look at the below-mentioned factors before doing the same.
01. Take a decision
If you are someone who is looking forward to starting a business in the UAE, but you are unwilling to relocate to the country, you must make a decision first. Let us assume that you are establishing a new venture instead of setting up a branch of your existing firm; you will most likely have to form an LLC, i.e., a Limited Liability Company. Therefore, you must know the goal of your LLC and the objectives you expect it to complete. As a result, you are left with two obvious choices of registering your LLC either on the mainland or in a free zone. Once you choose between these two options, you will set the limits and path of your firm.
02. Mainland vs Free Zone
Registering your firm offshore or free zone will provide your company with some short-term advantages. However, you wouldn’t want to miss the opportunities and advantages the mainland provides in the long run. The free zone takes the burden of finding a sponsor for the registration process. As a result, the business owner doesn’t have to take those responsibilities. Even the road ahead is not plain. The firms which are registered under the free zone will be bombarded with several proprietary rules, and the UAE’s federal business laws, etc.This will be complicated to understand if you are not a resident.
On the other side, the companies registered under the Freezone are restricted to function under the direct business concept, which means you can trade only beyond the national border or free zone.
03. Process
The role of the local sponsors is significant for the success of the company. From the beginning, they should make sure about the process of registration. Suppose, for your initial step, you’ve decided to enroll in the mainland. Stage two is choosing an efficient sponsor, and stage three is applying for a permit or a license. However, before the completion of stage three, you’ll have to keep the correspondence channels open with your support as you set the administrative work up. You’ll likewise require a Memorandum of Association, where the details about the company ownership and sponsorship are explained.
04. Time and cost
Getting a permit to operate in the UAE includes considerably fewer hassle than in some Middle East and North Africa (MENA) nations. However, it also depends upon how determined your support is, the entire cycle can be completed in seven days. The expense will depend upon the area of your business and the activity you choose.
FlyingColour will be your best friend while you start your journey of establishing a business in the UAE, along with guidance on VAT services and accounting. Being the best to exist, FlyingColour is known for providing top-notch quality advisory services to non-government, private, government, and many other sectors. So, what are you waiting for? Reach out to the best consulting firm and boost your business journey.
