Foreign Business Ownership in Dubai
UAE, especially Dubai has a wide range of business structure for foreign investors. The less administration, lower costs and faster service made starting a new venture easier. But, before starting any legal formalities, make sure to know all the elements required in the process.
Type of Business
The type of business you want will classify the kind of license you need. Regardless if it is professional, industrial or commercial, it will determine the basis of your operations. Moreover, while selecting the type of your business, keep in mind that certain activities such as jewelry trade, food trading, legal consultancy and veterinary activities need further approval from other government departments.
As a foreign national you may want to have the full ownership of your business. In order to do this, you need to choose a location in one of the many free-zone business center in UAE. There are certain business types that each free-zone caters. A clarity on the type of business you want will help you find the best option.
Based on your type of business and location, there are specific rules regarding the setup of your business. For instance, if you are planning to start a legal consultancy firm in one of Dubai business centres, this can only be done as a stand-alone company or a branch of a company. A sole proprietorship business structure is not allowed for this kind of business.
Your business trade name is one of the most important part of the legal procedure. The business trade name must specify the nature of your business, unless it is just a branch of another company.
Once you have finalized all the legal procedures you need, it is recommended to shortlist some flexible offices in the best Dubai business centers with cost and other details. This will give you a clear path forward once you get all your legal formalities approved. In free-zone areas, you will be assisted to find the flexible offices that are suitable to your requirement.
Since the above is meant as a general guide, it is recommended that you contact a reputable company who is expert in processing all legal matters when it comes to business setup in Dubai. At Austria Business Center, they are able to support and guide you as to which approach may be best in your specific case.
Aside from being well-known in providing flexible offices, including co-working spaces and virtual offices, Austria Business Center is also known and trusted when it comes to providing quality PRO services including a business partnership in Dubai. Together with their legal contacts, their highly qualified PRO team works to ensure that your business is fully legalized in the UAE. To know more about their services, visit http://www.austriabc.com/.