- September 26, 2016
- Posted by: aon
- Category: Blog
Things to Keep in Mind While Business Registration in Dubai
Business expansion is on every entrepreneur’s mind. For this, they aim to establish their business in such regions from where they can reap good benefits and pay minimal taxes. For the new players, being able to establish their business in such regions is like a dream come true.
The Growth of Dubai as a global business hub
Over the years, Dubai has emerged as a global business hub as it has been successful in catching the attention of many investors. Its tax free zones ensure maximum profit retention and its reputation adds another feather to the hat.
Benefits of Registering a Business in Dubai
There are several advantages of business registration in Dubai. Many of these are summed up here:
- Dubai has a free enterprise system
- It is a diversified market.
- High quality office accommodations and top international conference venues.
- It allows 100% retention of capitals and profits.
- Reliable utilities.
- Incredible infrastructure, be it residential or commercial.
- No corporation taxes, etc.
Things to keep in mind while registering your business.
Since you would be registering your business in a new market, it is important to keep a few things in mind, which are as follows.
1. The type of company you are establishing
There are different types of companies which can be established in Dubai. One can set up a Limited Liability Company, Offshore Company, Branch as well as representative offices in Dubai. The rules for setting up each of these company types are different. While Dubai allows 100% ownership to the investor, for establishing an Onshore Company an investor only gets 49% stake in the company. Thus you should be aware of such details about the company structure.
2. The Area where you are establishing your business
There are several regions in Dubai where one can establish his business. Each of these zones are categorized for each type of business. For example, JAFZA and RAK are the destination for offshore company business registration in Dubai, while a limited liability company can be set up in Dubai, Abu Dhabi, Sharjah areas.
3. What should be the Company name and business type ?
There are certain restrictions on the type of business the type of company can conduct. Say an offshore company cannot conduct businesses related to banking or insurance. Additionally, it is compulsory that the company name should end with LTD, Ltd., or LIMITED.
Why prefer business registration services ?
Since one would be setting up his business in a new market, in a different country, it is possible that he might not be aware of each and every legal or business specific requirement. Even the simplest mistake can lead to the rejection of his company.
Therefore, to make sure that you are advancing in the right direction and keeping up with all the laws which governs the Dubai business registration, it is imperative that you have a professional consultancy service on board. Consultancies provide you with efficient business registration service to ensure that your business incorporation is seamless and fast. They can also act as your local agents in case your company needs someone to fill in.