The establishment of a new business in Dubai is never easy. When it comes to Dubai, setting up a business in the city is as hard as it can get. There are complicated laws, rules and regulations that must be followed. Apart from that, there is also the need to work with a local sponsor. The worst part about this is that the sponsor gets a majority 51% share of your business. What this means is that you no longer own your business completely and the most important of its decisions will be made by someone else.
So what should you do if you wish to try out a business setup company in Dubai? What if you do not wish to give the 51% share to the sponsor? What if the extremely strict laws and rules that have to be followed do not appeal to you? In such a case, the best option available to you is that of a company formation in a free zone. If truth be told, setting up a business in a free zone is actually the best option available for businesses that are just starting out, or those who wish to have an offshore existence. The best part is that you get to retain complete ownership of your business, which is a major positive for most. Here is how you should go about setting up a company in a Dubai free zone.
1. Apply for a visa and license
The number one step that needs to be taken is that of applying for your visa. While there are certain countries whose nationals can receive a visa upon arrival at the airport, nationals of other countries need to apply for a visa beforehand. Find out about the visa requirements. In most cases, the acquisition of a business visa for Dubai is not too difficult.
Once the visa is sorted out, you need to get in touch with the Dubai Economic Development department or DED for the acquisition of your business license. As long as you submit the right documents and fulfill all necessities, getting your license should not be too hard.
2. Which free zone have you chosen?
There are more than 38 free zones that you can choose from. The best thing to do is choose one as per the business industry you wish to serve. While you are at it, make sure that you also consider the Dubai freezone company setup cost involved.
3. Find an office
Now, it is time for you to find an office space for your business to run from. Visit the free zone and get in touch with the right people and agents who can help you with this. If you are just starting out, it is suggested that you refrain from choosing an office that is too big.