If you want to set up business in Dubai, then there are several things that you need to know, especially if you are new to this Arabian zone. There is huge desirability quotient of individuals seeking for starting a business in Dubai here in this article, we shall be taking a look at a few of those reasons as well as get a clear answer to what, why, and how to start a business in Dubai.
Freehold Zones for foreigners
The non-UAE nationals are allowed to invest in a property only in the freehold zones. These zones are designated by the Dubai government where the non-nationals can own an absolute interest in land. In these areas, businesses are neither taxed on the company’s income nor are payroll taxes applied. This designation of freehold zones has encouraged various MNC’s to establish in Dubai. But yes you do not own the business entirely and just a 49% percent shareholder, while the rest 51% is owned by a Dubai local according to the laws.
Dubai offers an excellent geographical location
Dubai is an established hub of finance and commerce where a lot of people including the daily wage laborers, merchants and entrepreneurs are attracted. This is because of the distinctive geographical location of the port city of Dubai on the Arabian peninsula. Although amongst the leading producers of petroleum, the petroleum sector contributes only 7% of the total annual GDP of Dubai.
The central geographical location of the city near water has made it a prime trade destination. Many merchants the continents of Europe and Asia arrive find it convenient to trade in Dubai. While other foreign merchants from far off regions get attracted to the city because of the relaxation in trade and tariff laws here.
If you are looking to set up business in Dubai you would first need a business license to own it. The three general business licenses you would need include:
* Professional License – if you are looking for professional services
* Commercial License – if you want to get establish in import/export trading
* Industrial License – if you want to get established in manufacturing operations
Adam Global is one of the top business consultant firms where you can get help from experts to set up business in Dubai and run it successfully.