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| Dubai Business Start Up | |||||||
Dubai business start up offers huge potential to ambitious entrepreneurs. While business people can be frustrated by the challenge of some business regulations, the governing bodies are taking steps to improve the processes for starting a business in Dubai. The following is an overview of the Dubai business start up procedures and their impact on international entrepreneurs.
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| 1. | According to the Global Competitiveness Report 2009-2010 by the World Economic Forum, the UAE (of which Dubai is a member) has the world's 23rd most competitive economy. | ||||||
| 2. | Entrepreneurs should budget up to US$50,000 to successfully complete Dubai business start up, including government incorporation fees, corporate banking and office rental (as required under Dubai business start up laws). Most business people engage the services of a Dubai-based corporate consulting Firm to project manage all aspects of Dubai company start up.
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| 3. | Time taken to complete Dubai business start up varies from a Dubai offshore company, which typically takes nine weeks, to a Dubai LLC, which takes approximately 14 weeks.
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| 4. | While most business entities in Dubai require a physical office to be rented and staff to be employed in Dubai, if the company trades solely outside Dubai (e g a Dubai Offshore Company) it is not necessary to take this expensive step. | ||||||
| 5. | If starting a business in Dubai to trade within the UAE as a branch of a foreign company, it is necessary to appoint a UAE national as 51% shareholder. | ||||||
| 6. | Foreign investors who require 100% control of the Dubai business often incorporate the company in a Free Zone. Free Zones are located across the UAE, including Dubai. | ||||||
| 7. | To support Dubai business start up, entrepreneurs usually open a corporate bank account in Dubai. As a growing financial hub, Dubai is a regional base for many of the world's main retail banks including HSBC, Standard Chartered and Citibank. | ||||||
| 8. | The majority of investors starting up a business in Dubai obtain Dubai residence and employment visas, usually through the same corporate services Firm. | ||||||
| Contact Us | |||||||
For more information on Dubai business formation, contact email@healyconsultants.com or call us in Singapore at +65 6735 0120. | |||||||
| Back to Dubai Company Formation page. | |||||||
