Every entrepreneur or businessman dreams of starting their own company in the UAE. The UAE is an ideal option because this land not only offers great services to all professionals but also has strategic locations that open many doors for all those investors and entrepreneurs from different countries who hope to have their own business setups. To stand out in this competitive market, manage day-to-day business activities, and have such a cutting-edge business strategy, you need the help of business setup consultants to make the process and business smooth and efficient.
Why Business Consultant is important?
Having experienced business consultants will help your business in a range of ways. They will help your company grow by practicing the present-day best strategies and also handling everyday tasks.
Working with multiple business clients at one time, the team of business setup consultants offers unique creative ideas to help all their accounts due to their vast range of different clients.
Having consulting expertise for company formation will be far more beneficial for any business than one business employee as they have more business setup services and more profound legal advice to offer. Dubai Business Setup Consultants are important to ensure your company’s growth and well-being.
Advantages of hiring company formation consultants in Dubai, UAE
The Legal Clarity
The UAE’s each emirate has some basic legal formalities for company registration. Each new business has to follow them as primary requirements. You have to submit documents, should have a valid visa, and also have sponsors for a few businesses. The company set up a consultant takes care of all the paperwork headaches and does it in less time and with more ease. The consultation also gives you all the information regarding the expected risks and difficulties.
Expertise and Updated Knowledge
Having an experienced business setup consultant on board is advantageous. As they have experience working in different industries and are well aware of the present day’s trends and practices, they can help you achieve your business needs by providing reliable solutions.
Advice on Business Jurisdiction
The UAE has three jurisdictions based on zones. All of them have their own separate laws and regulations. Understanding those rules and complying with them can be an extreme sport that requires the assistance of an expert to make sure things are heading fine to avoid any penalties. Here comes the need for a business setup consultant who helps with legal structure selection and everything else related.
Evaluation of Cost for Business Setup in Dubai, UAE
To have a business incorporation involves visa assistance, business licenses, trademark registration, company liquidation, and more. With that, each jurisdiction also asks you to rent office space, and have a legal license and the name of the service you want to provide. Remember that costs for all these elements can vary. Accounting experts of a consultancy firm help in building a cost-efficient budget plan for setting up a business in Dubai, Abu Dhabi, Sharjah, or Ajman.
In other countries, companies hire consultants for legal help but they have to deal with certain limitations. In Dubai, UAE, the sponsor or investor doesn’t have to worry about tax as the trade has zero taxation fees. You can also adjust the consultant’s contract based on your requirements and budget.
The native language of the UAE is Arabic and locals mostly converse in their own language. Your business consultant can work as a mediator for translation during meetings with local partners, customers, or government representatives.
Highly reputed business consultant firms have made connections and links in the business group over the span of years. Working with their consultants can provide your brand exposure to the vast UAE business community and hopefully, you can make some great connections too.
What You Should Consider Before Hiring a Business Setup Consultant in Dubai, UAE
The right business setup consultant is an integral part of your business strategy. Finding one can be a difficult task as there are many sham consultants making fools out of people. Instead of completely relying on their self-promotional claims, you have to do some research to verify them. The following are the things you should consider before hiring a consultant for your business setup.
Their Qualifications and Experience
With the emergence of new businesses every day, the consultancy need is also at the top. But there are only a handful of consultants who prove to be what they claim for. To find the right candidate from all the options, verify the short-listed candidates’ qualifications from the concerned university. If the consultant has good experience and is familiar with the different zones and their laws, they can be the right choice.
The reliability of business setup consultants in Dubai based on their previous track record and success rate. Clients tend to leave their reviews on the websites of the consultancy firms they have worked with. You can check the reviews or confirm the testimonials the consultants have shared with you. You can do that by directly contacting those clients and getting to know about customer satisfaction with their services if they have shared their phone number.
Experienced company formation consultants do not work with one type of business. Rather their areas of work include working with diverse incorporations. Reputed company formation consultants are likely to offer pro services based on their knowledge and experience. Their in-depth research on a free zone, mainland, and offshore location can provide a profound insight into your new business. You can also learn many things you might not know earlier.
Your budget is an important factor to consider before finalizing the business consultant for your company formation in Dubai, UAE. Business consultant charges different for their pro services and also offer packages. Some famous consultant firms might have high price quotes. But their prices are justified as they have proven results. However, beware of those who promise to charge less at charge just to get the project but later reveal hidden banking charges which can hurt your company setup.
What is the difference between different jurisdictions in UAE?
Company formation in Dubai, UAE is a huge decision and you need to complete your homework. The very first step in all this is to understand how the business ecosystem works in UAE. There are mainly three locations that allow you to open your business. Those are mainland, offshore, and freezone. They are also known as zones. Working with a company formation consultant becomes easy if you are already familiar with all the jurisdictions.
All the companies in the mainland can approach both local and international markets. The Department of Economic Development issues licenses to run a successful mainland LLC company. The mainland company offers benefits like:
Mainland companies are free to work anywhere in the UAE. They can also access free zones for their trade activities in the UAE.
According to the new law, all mainland companies now can have complete foreign ownership. Before 2020, it was mandatory to have a local sponsor for each business on the mainland who would hold 51% commercial shares of the company. It’s great news for all immigration investors whether they are from the Uk or any other part of the world. As you can enjoy 100% hold of your business whether it is related to education, hospitality, food, or agriculture.
It is compulsory for all mainland businesses in the UAE to have physical offices. Otherwise, the license will not be issued. The office size has to be around 200 sqft. Office location is also required to apply for a residency visa.
The UAE offered foreign investors free zones to do their business to boost their country’s economy. There are more than 40 free zones all over UAE and more than 30 are in Dubai. Many investors like free zone place because:
- You enjoy complete ownership of the company. Free zones have always offered 100% ownership from the start.
- You can have more than one business.
- Complete exempt from taxes including corporate, import/export.
- 100% recovery of capital and profits in Dubai bank account.
- However, free zones have unlimited rights, but with a few limitations. A free zone company cannot expand its trade activities outside of free ones.
Investing outside of your home country is considered an offshore investment. In UAE, you can register your offshore company under free zone jurisdiction but the perks will be quite different.
- One of the main reasons why foreign investors go for offshore companies is because there is no standard aed capital requirement.
- It is also not compulsory for your offshore company to exist in UAE.
- And also, your company will not be subjected to auditing questions.
- One drawback of the offshore company is that you will not be granted a visa.
- In GCC, countries like the UAE welcome business investors from all around the world. Foreign investments give a boost to the economy and in return, people enjoy amazing facilities.
Company Formation Consultant in Dubai, UAE
Company formation in Dubai, UAE demands a lot more than just investment. Your business idea has to be solution-oriented. Your business design has to be the best in its field. All the operations from bank account opening to your product registration can consume a good amount of time and energy. But there is one way to resolve all — hiring a Dubai business setup consultant. With the right business setup consultant, your business plans can be achieved in time but if your decision goes wrong, you might have to face loss which you surely don’t want. Contact us to have a team of expert consultants who can help you sail through this business world easily.