Things to Consider before Setting up a Corporate Entity in UAE
May 02, 2017
Starting a business in Dubai
Are you looking to start a business in Dubai? UAE is one of the most visited countries in the world and not just because of its booming tourism industry; UAE has allowed numerous businesses to expand and thrive in flexible economic conditions to produce tremendous revenue. For those entrepreneurs and business owners who are looking to establish a business in Dubai, the timing could not be any better. Dubai has extremely flexible laws for those looking to start up or scale up in Dubai. This article looks at some of the key things that you need to consider before starting up as a foreign corporate entity in Dubai.Things to Consider before becoming a Corporate Entity
- Legal Structure: There are going to be a lot of bumps in the road when you set out to establish a business in Dubai, but the most important thing that you need to worry about in the beginning is the legal structure of a company. Dubai office various free business zones that give you the flexibility to start your business without worrying about the various taxes and legal costs. However, there are still a lot of things that you need to make sure before establishing your company in order to balance assets and liabilities. Your company’s legal structure defines the type of entity your business is and how its operations will be carried out. This should include tax information, liabilities and stakeholders, to mention a few.
- Human Resource Acquisition: Company formation in Dubai requires ample workforce that can handle day-to-day organizational tasks. To make sure that you have the right administrative, legal and marketing team on board, you need to acquire human resources through the legal procedure, especially if you intend to bring your workforce from your home country. Numerous business consultancy and management firms in Dubai allow you to manage your workforce through legal means. In most cases, your consultancy firm will handle all the legal processing required for your employees. Most business management and consultancy firms take care of employee visa processing, and business licensing to ensure that you can spend time with the more important tasks.
- Organizational Management: As mentioned above, there are a lot of things that we need to consider when it comes to forming a company in Dubai, but the most important things remain to be legal entity formation and organizational management. When forming a company, it is important that you consider strategy formulation to tackle the day-to-day organizational tasks. Organizational Management allows you to improve each and every process included daily operations in order to enhance overall productivity.