Reasons To Hire A Business Setup Consultant in Dubai
Dubai has made a name for itself for being among the most popular economic hubs in the world. The government provides business-minded individuals the freedom to enjoy and invest their money. However, forming a company can present several different challenges, especially for foreign investors.
Entrepreneurs who plan to set up a company in Dubai are recommended to hire a business setup consultant who can provide valuable advice and strategies.
Here’s why you need a business set up consultant:
Laws & Ownership
The onshore sector has restrictions on foreign ownership and is dominated by local business interests. On the other hand, the offshore sector consists of several free zones that are governed with unique sets of laws and regulations. The violation of these laws can lead to heavy fines. It would be best if you had professional intervention to ensure full compliance with the existing rules.
Legal Process & Structures
To set up a company in Dubai Mainland, free zone, or offshore involves different legal forms and structures. Having a business setup consultant will allow you to understand what legal formalities and government regulations apply to your chosen company type. This can ensure that your setup process will go smoothly.
Finding Business Partners
A reliable business setup consultant will be able to identify a trustworthy local sponsor or partner for your company. Sponsors are mandated by law to hold either a share in your company or be an agent. Some business consultancy agencies even offer clients corporate sponsorship to establish a company in the Mainland.
Company formation in Dubai requires knowledge of strategic government relationships, which a business setup consultant already has. Your consultant will act as a liaison between the company and the related government authorities, such as the Department of Economic Development (DED), Foreign Direct Investment (FDI), Dubai Land Department (DLD), and more.
Finding Best Location
Selecting your company’s right location can be overwhelming, considering that there are hundreds of business centers and serviced offices to choose from. There are many factors to consider, including the type of activity the company is likely to carry out. A business setup consultant can help identify if you need to incorporate your company in the Mainland or a free zone.
Save Time & Money
Consultants not only act as liaisons between you and government agencies but also provide cost-effective ways to set up your business. They have years of hands-on experience knowing what, how, when, where, and whom to deal. They can also save you from stress and frustration should you end up doing something wrong in the process.