Establishing and running a business in Dubai is fairly easy primarily due to the trade-friendly policies of the UAE government. Many Emiratis, expats and multi-national companies have jumped to the chance and availed the opportunity. If you’re looking for an expert for business plan writing in Dubai, partner with MBK Auditing. In the space of many decades, the country has an incredible transformation. Now it has become a financial powerhouse with diverse thriving industries. Moreover, the UAE has a stable political environment, strong capital flow, business-friendly taxation, and liberal trade policies. Resultantly, the country is becoming a popular choice for investment. There is plenty of scope for the foreign investment in the UAE. In 2019, the government announced that it was allowing 100% foreign ownership in 122 economic activities across 13 sectors. If you’re also planning to set-up a business in the UAE, you need to consider many factors. To begin with, shortlist, which sectors are popular in the country. In planning stage, you’ll also want to see, which services are missing and which goods, the customers are looking for. According to a study, automotive and aerospace industries are doing better. There is scope for oil and gas, food and beverage, and marketing and advertisements sectors.
Setting up a business in UAE is quite easy. The government offers many incentives to the aspiring entrepreneurs. The best route to start a business in UAE is free zones. These zones are more popular with the foreign investors. The main reasons include 0% corporation and personal tax. These free zones allow 100% foreign ownership and import and export tax exemption. However, most types of companies – except the sole proprietorship- require an Emirati partner that owns 51% of the business. The next step is registering and licensing of the business. Some business types also require to meet minimum capital limit. You also need to consider the type of the company, you’re going to float. The UAE has different legal corporate structures. The most common of them include Sole Proprietorship, civil company, Limited Liability Company (LLC), , foreign company branch, free zone company and freelancers. If you’re planning a business in the UAE, you also require a visa to live and work in the country.
