— Posted in Business Services
Things to think of before starting a business in UAE
The government of Dubai has long been encouraging foreign investments ahead of the Dubai Expo that is to be held in the year 2020. Considering the opportunities that have come up for entrepreneurs from around the world, one of the best options in terms of business setup is that of working on a free zone company formation.
For those who don’t know, free zones are basically ‘free’ economic areas that can be used for business purposes by entrepreneurs around the world. There are a number of advantages that you can reap by investing in an RAK free zone company formation. These include:
- Tax advantages
- Repatriation of profits and capital
- Complete ownership
- No charges on import and export
- Free transfer of funds
- No custom duty
- Lesser regulations to follow
If truth be told, establishing a business in a Dubai free zone is like a dream come true for businessmen around the world. the best part is that the process is rather speedy and is rather cost-effective. However, before setting up your business here, it is highly recommended for you to follow a few precautions to ensure the success of your business. These include:
Detailed information is necessary
Before getting started, it is highly recommended for you to acquire as much information as possible about the different free zones in Dubai and the procedure through which you can establish your business in one of them. The best thing for you to do in this regard is to get in touch with a business setup consultant that is focused on company formations in free zones.
Make precise choices
Prior to starting a business in Dubai, there are a number of decisions that you will have to take. While you are at it, it is extremely important for you to make the right decisions when considering things like the establishment process, jurisdiction, legal structure, legal type, and the different regions in which you can establish your business. When considering the different regions that you are interested in, make sure, that you pay due attention to their individual rules and regulations as well. On the whole, in order to ensure the success of your business, pay attention to all these elements and make the wisest choices possible.
Giving due consideration to the factors mentioned above can go a long way in terms of helping you establish and run a successful business in a Dubai free zone.