The United Arab Emirates has one of the biggest and diversified economies in the world. Thinking of a business setup in Dubai is an exciting idea, to begin with. There is no denying that UAE offers a plethora of lucrative opportunities to start-ups and entrepreneurs.
International exposure and an investor-friendly government are the prominent factors which makes Dubai lucrative for establishing business. It is worth noting here that the start-ups in Dubai get perks on investments and various types of tax benefits.
Dubai is a global commercial hub and ranks 15th in the category of the global commercial centre. Dreaming big about an idea is not enough. You have to convert it into a reality with a good plan of action. Here are the top aspects you should know before establishing a business in Dubai.
Dubai offers Varied Types of Tax Incentives
The UAE government usually provides tax exemptions on personal income and corporate tax. In simple words, you will be able to leverage full profits and reinvest in business growth.
Dubai boasts of minimum taxes along with a simplified tax structure. However, it would be best to opt for the right company structure to qualify for tax benefits. By saving on taxes, you will be able to grow your business and workflows.
Your Business Marketing Plan should include Customers
Note that setting up a business in the UAE isn’t enough. To ensure that it becomes successful, you have to target the right audience. In simple words, you need a precise business marketing plan which will help in identifying your target audiences.
Before opting for company formation in Dubai, you should get all your research on customers. In this manner, you would be able to allocate the proper budget to PR and advertising channels.
Various Types of Ownership Options are available to Expats
One of the key highlights of business setup in Dubai is the presence of several types of ownership options. You can select to maintain partial ownership or 100% ownership by establishing a Free Zone Company.
In terms of ownership, the business environment in Dubai is highly flexible. Moreover, investors have the opportunity to enter the developed sectors. You can even opt for partial ownership. However, in partial ownership, make sure you find a reliable partner.
Selecting the Right Structure is the Key
When setting a business in Dubai, choosing the right structure is always important. In Dubai, a Limited Liability Company is one of the most common structures for registering your business.
And if you are a foreign investor, then always go for a free zone company structure. Dubai has a large number of free zones like DMCC, Dubai Internet City, etc., where you can set up a free zone company.
Note that these free zones offer great benefits. The free zones of Dubai house some of the reputed global companies. These zones also offer purpose-built infrastructure and flexible office solutions.
Are you thinking of establishing your business in the UAE? Contact Emirabiz to experience a hassle-free company registration process.