How to Choose A Good Location For Your Business In Dubai?
The United Arab Emirates (UAE) is emerging as the heart of up-and-coming businesses in the Middle East. One of its emirates, Dubai, is rapidly growing as a favorable business hub where people from all around the world are looking for investment opportunities. They are able to carry out their business in Dubai more comfortably than the other gulf countries.
Moreover, the cost of a business setup in Dubai is relatively lesser than its counterparts. In this piece, we will look into how people in business can choose a good location for business opportunities in Dubai.
Different zones for different purposes
UAE has different business-oriented zones. They include Mainland, Free zone, and Offshore.
Some of the more highly developed areas come under the mainland. Its infrastructure and services are at par with its rivals, and you can set up your business very efficiently here.
Free zones are areas where foreign investors can set up their businesses. Dubai has the highest number of free zones in the UAE. Different free zones have different rules and regulations with various procedures to set up the business. Setting up a business in Dubai will provide you with a lot of facilities, support and opportunities to start and develop.
Offshore zones also attract foreign investors to set up their businesses with world-class facilities and have maintained a high reputation with international corporations.
Let’s look into some important points that will lead you to find a good location in Dubai to help companies set up their businesses easily and efficiently.
Details about the business activity
To set up a business in Dubai, companies have to give details of their proposed business activities in the beginning of the development of the business. It includes:
- Details of the existing business activities and dealings.
- Size of the business.
- History of the company, including its experience and its profile.
- Date of establishment of the company.
- Registration details of the company.
- Past few years of achievement, balance sheet and profit and loss.
Target market
Businesses also need to mention their products or services and their proposed target market to invest in and carry out their business functions. As different areas in Dubai have different rules and regulations, it is pertinent to be aware of the target market so that consultants can assist the companies accordingly.
VISA requirements
The company must share the details of the number of employees they are going to deploy in each category for their business in Dubai. Further, details about the business experts, their educational qualifications, and field experience are also taken into consideration while deciding on the VISA requirements.
Office space and size of the proposed company
Companies should give details about the shape and size of the office establishment with the number of departments and sections and their size. Apart from that, companies must also mention whether they want to set up their office on the same premises as that of their business or separately at some other location.
Moreover, companies have to share how much area they will require for the establishment to accommodate the workplace, workers’ accommodations, workers’ recreation, and health and medical facilities.
Banking requirement
Lastly, companies will have to share the financial information and answer the following questions:
- How will the company manage its banking requirements?
- What are their financial resources, and how will they deal with foreign currencies?
These are the details that companies must furnish so that they can find the best place to set up their business in Dubai. FlyingColour is one of the best business setup firms that offers our expert advisory and services for setting up a business in Dubai. We give you support, advice, and consultations for setting up your business in the government, private as well as academic sectors. Our team of experts also support with the services related to accounting and VAT services.
