Tag: UAE

It only stands to reason that a UAE business guide should always start by education novice investors in the legal regulatory hurdles in setting up a profit-based enterprise in the region. Foreign investors that the investment opportunities offered by the different sectors in the UAE signified that businesses is easily set up in the locale which isn’t true. It is important that you know what type of businesses is available to investors and the various requirements associated with its incorporation.

Starting With Licenses

Every business in the UAE requires a license and there are 3 types of licenses offered in the region. This UAE business guide delves into each in detail.

1. Commercial License – this license can be classified as a general license for any types of commercial businesses in the city. In most cases, this is related mostly to business that deals with trading (e.g.: imports, exports, etc.)

2. Industrial License – an industrial license is issued to corporations that deals with manufacturing of goods or anything related to industrial enterprises.

3. Professional License – this license is released to individual businesses that offer a specific service, mostly related to crafts, profession, and the likes.

Business Ownership

Another important topic discussed in this UAE business guide is the ownership of an investor to a particular business. There are two that you should be aware of, namely Partnership Ownership and Sole Ownership.

Partnership Ownership is a type of business where your native UAE partner owns a majority of the shares in the business. In this case, your sponsor should own at least above 50% of the total shares while you get the rest or subdivided with other investors. There are 3 classifications of business under this category, namely:

*Limited Liability Company (LLC)

*Joint Venture

*Private or Public Shareholding Companies

The second type of ownership is the Sole Ownership where the investors get full ownership of the enterprise giving him or her full control over its operation and profit. If you check out a UAE business guide aside from this one, you will find out that Sole Ownership ventures are limited to Free Trade Zones where you don’t need an agent to set you up.

Company Registration Procedures

This section of the UAE business guide discusses the various procedures necessary for company or business incorporation in the region. Small-scale business, especially those operating outside Free Trade Zones require the aid of a native UAE sponsor or agent to register the enterprise — like processing necessary documents, applying for business visa, registering the business in related government agencies and bureaus, and so on.

In most cases, the procedure can be summed up with the steps below:

1. Submission Of Company Registration Application

Documents pertaining to the registration of the company are to be duly submitted to the Department of Economic Development (DED). This application
will be subjected to approval by a government representative so a business will be issued its license to operate its enterprise in the region.

2. Notarizing Documents

A native UAE lawyer is necessary to have your documents notarized in order for the entrepreneur to get a preliminary approval. In most cases, documents have to be notarized first before you submit it to the DED for approval.

3. Filing Business-Related Documents

Once you have passed the preliminary approval and have obtained the license to open up a business in the city, the next step is to file documents related to the business with the DED. This includes documents pertaining to company registration, financial statements, bank-accounts, registration of native UAE workers, compensation and benefits, rules and by-laws, and so on. There are also some documents that need to be filed with other government agencies as well, like the Ministry of Labor for one but these are mandatory.

Simplifying Business Registration with Experts

This UAE business guide can help give you an idea on what the various legal processes involved in setting up a business in the region. However, if you don’t have the means to take care of this task on your own then the best way to jumpstart your enterprise in the city is to look for a local UAE business consultant firm to help you process all the requirements to register your venture quick and easy.

If it’s your first time to dish out money for a small-scale venture in the UAE then here are some new opportunities you might want to look into before you get started with planning.

Imports and Exports

Small-scale entrepreneurs might want to try opening a trading company in Dubai to target import and export duties for fun and profit. Current market shows that there is a big market in importing foreign products and exporting local goods to countries, like Japan, United States, and China.

For example, pearl imports have seen a growth to 30% for this year alone which is a good opportunity for entrepreneurs who have contacts in the pearl industry. Import of construction materials are also in great demand due to the continuous constructions projects currently planned out for Dubai’s improvement. Exports of local products are also a profitable venture as well, especially if you target popular local goods, like medicines and ceramic tiles. Import and export of food products also yields profitable figures as well.

Recreational and Entertainment Establishments

Many new Dubai small business opportunities are mainly centered on recreational and entertainment facilities believed to be scarce in the city. The increasing number of tourists in the city, as well as the demand from local society has made it a profitable investment in opening up nightclubs, recreational kiosks, even entertainment hubs to target the needs of native UAE and foreign tourists alike.

Real Estate Investment

Real estate investment in Dubai has taken a turn for the better. New construction projects on various residential facilities and luxury homes are underway to target the need of local and foreign visitors. Trying your hand out in real estate as one of the potential new Dubai small business opportunities gives you enough leverage with the investment — offering you a risk-free acquisition. You can buy a real estate property to cater to local needs, or investment in many real estate properties for monthly rental or resell later on when prices yields to your favor.

Health Care

There is a huge need of professional health care workers in the UAE, especially in Dubai. As the city grows, hospitals and private institutions are in need of skilled nurses and care givers to cater to the needs of the locals. Such is the case, opening up a recruitment agency in the city as one of the new Dubai small business opportunities might be your ticket to success and profit. Investors with contacts with interested workers in other countries will do well in this industry, especially those catering to Child Care since this is considered to be a trend in Dubai’s current recruitment trend.

Travel Agency

One of the most lucrative new Dubai small business opportunities is in the travel industry. Many in the known-world are seeing Dubai as a tourist attraction and having a travel agency to cater to this trend promises a lot of profit on your way. This type of business requires you to be affiliated or familiar with various accommodations in Dubai, as well as in the rest of the UAE; tour options, recreational and entertainment facilities and services to cater to vacationer’s needs.

Getting Started

If you’re thinking if opening up a small-scale business in Dubai then you might want to stay away from Free Trade Zones due to financial issues. Opening up a sole ownership enterprise in the city might be too much to handle so the only option left for the investment is to set up an enterprise with native UAE sponsor as your partner. This way, you get to earn the profits while they take care of handling and managing the operation of the business.

Keep in mind, however, that you need a sponsor who is knowledgeable in the type of business you want to put up in the city. You can only take advantage of new Dubai small business opportunities if your local sponsor can give you accurate market trends and figures to help you plan it out. If you’re new to this venture then it would be best to have a local business consultant firm lend you their expertise to help you set things up from scratch.

Specialists can bring aptitude and encounter that your business does not have generally. They can help oversee long haul systems, finish an extend that obliges very particular aptitudes or help you accomplish work proficiently. Whether you need to benefit administrations of master administration Consultants in Dubai or you essentially need to outsource all your business bookkeeping, a decently rumored firm can help you open the capability of element business development and will help and necessities in a modified manner. There are few rumored business consultancy firms in Dubai which offer an extensive variety of administrations including organization joining, bookkeeping outsourcing, business capacity outsourcing and Feasibility studies and Management Consultancy benefits according to clients particular business needs. The firm will help you set up another business effectively in UAE and you can undoubtedly get the quite required financing counseling administrations from the heading special.

However before selecting the suitable consultancy firm in Dubai, you must check the certifications of the organization and its demonstrated track record of achievement. You can either address its past customers or simply contact the masters to check their suitability and legitimacy. The chose consultancy firm must have the capacity to give you tweaked business administrations which will help you in overseeing Business in Dubai. A master business consultant can direct you to perceive all the pitfalls in the method for achievement or building a fortunate business brand. Whether you need to set up another business in Dubai or are searching for an one stop business consultancy administrations which will help you adequately band together with different organizations to run a joint wander, a presumed consultancy firm can end up being imperative a piece of business needs and prerequisites of an organization.

Benefitting administrations from a rumored consultancy firm in Dubai will help you spare a lot of time and cash which will help you setting up organization in Dubai. You can utilize the spared time and cash in finishing works of other most astounding necessity while the specialists of the counseling firm will handle the essential bookkeeping capacity, or buy division, deals office, receivables, payables, keeping money and account capacities and administration according to your needs and prerequisites. Frequently the specific administrations of master administration specialists and bookkeepers of a firm can turn out to be extremely valuable and can prepare for attractive business achievement and advancement. You can doubtlessly pick up a ton from the aggregate and years of encounters of master specialists and this will help you make proactive moves to escape from the pitfalls of achievement.

Centurion counseling is one such firm which holds an unique position in the business. The consultancy firm with a group of master business and administration advisors give redid business administrations to its customers according to their particular needs and necessities. For more data and administrations don’t hesitate to visit the website online at www.centurion-consulting.com.