Many of my acquaintances are of the opinion that this is a tangled topic dune buggy safari dubai. I'm sure you too have one or 2 questions or else you wouldn't be having this conversation.

My intention is to present an aerial perspective of the current economic situation in Dubai which leads to the questions WHAT, WHY, and HOW. This is because by asking the questions WHY and WHAT, the big question of HOW is answered.

At the end of reviewing this article, I'm hoping to have addressed your query of "how to set up a business in Dubai". I'd be delighted if you can identify a couple of points you didn't know about before are incorporated into your decision to start your own business in Dubai.

The observation begins by examining the reasons behind the desirability quotient of individuals to begin doing trade in Dubai. There isn't just one reason behind this but an amalgamation of many.

Freehold Zones

Foreigners are allowed to invest in property within freehold zones, due the fact that these zones are regulated by the Dubai government (typically it is not possible to own property within Dubai).

In these areas, companies aren't taxed on their corporate income. Payroll taxes do not apply.

The economic power of Dubai is based on free trade and relaxed tariff laws, and the designation of freehold zones have attracted MNCs to establish an office in Dubai.

Rules and guidelines for small businesses are not any different from other businesses.

To me, the most significant benefit that the freehold zone concept provides to you is the freedom from having an local business partner who has the ownership of no less than 51% of your company (keep looking below).

Labor Arbitrage

Since the beginning of 2008 there were no legislation pertaining to minimum-wage in Dubai. Work is cost-effective in Dubai because people from nearby countries like India, Sri Lanka and Pakistan tend to go to Dubai for work or an easier life for their families. These workers don't get any compensation. The entrance of these people is usually facilitated than not, by the recruiting branch of the numerous corporations in Dubai.

Excellent Geographical Location

Because of the unique geographic position of Dubai located on the Arabian peninsula the port city of Dubai attracted numerous entrepreneurs, entrepreneurs and day-to-day wage laborers setting up Dubai as a major hub for commerce and finance. The oil and gas industry accounts for less than 7 percent of the gross domestic product of Dubai. Instead, its central geographic location near water has made it a premier location for trade.

In order to do business, a lot of merchants from the continents of Europe and Asia meet in the various ports in Dubai. Foreign traders find the business of Dubai much more appealing due to the more relaxed trade and tariff laws of the Dubai emirate. Dubai. All the people affected by this battle emerge victorious.

Thanks to these advantages Dubai is a great place to start a business for a lot of entrepreneurs and even international corporations. As a multi-national company corporate, you'll want your business located near to your suppliers and clients. If everyone is establishing a presence in Dubai and Dubai, it will be difficult for you not to. You could lose your place in the sector you operate in.

You'd like being close to business and individuals that you frequently deal with. You'd like to be at the forefront , so that you're prepared to open your arms to every chance that comes your way.

The most overlooked reason is that local business and individuals prefer working with companies that are based locally. The importance of building relationships with people is important in these cultures and it is a matter of the perception of touch and sight. It is important to be present for it to happen!

Business Licenses

Each person must obtain an operating license for the commercial activities conducted by their business to operate a business in Dubai. The three types of business licenses you can be eligible for are as follows:

* Professional License - for companies who provide professional services

* Commercial License - for corporations engaging in import/export trading

* Industrial License - for companies who want to set up manufacturing operations

The department of economics in Dubai is an organization that was established for the lone objective of managing, governing and monitoring the economic activities, offers these licenses for business. The process for applying is similar for each; however, each application for a license has distinct characteristics.

For instance, the department might require that you obtain an assurance from an institution in Dubai, if your company engages in trade, or in certain services. If you want to have any type of business to be established in Dubai it is required that the Chamber of Commerce should recognize the business and issue a an application for registration. Similarly, there are several other important points to consider to be able to successfully create a company in Dubai.

The 7 kinds of businesses you can form in Dubai:

* Public Company (Traded in the Stock Exchange)

* Private Corporation (Not required to disclose publicly)

* Joint Venture Company (JV)

* Limited Liability Company (LLC)

* General Partnership

* Partnership-en-commendams

* Share Partnership Company

LLC has always been my favorite personal choice. I have multiple LLC that are registered at the moment I'm writing this blog. I have found that they are the most flexible. In addition, I receive the security of liability through segregation of personal and business assets.

I would suggest that you do so even if you decide to choose an LLC. You will not be alone in establishing the limited liability company in Dubai. A lot of successful businesses in Dubai that are in existence for quite a while are LLCs. This is the most preferred type of business entities.

If you're accustomed to western business laws, here are a few essential things you must know regarding an LLC in Dubai. Minimum of two shareholders are required for your LLC. It is possible to have up to 50 shareholders (somewhat similar to an S Corporation in the United States).

To establish an LLC there is an initial capitalization minimum. As of 2008 this number was around 300,000 Dirham or roughly $80,000 USD. You can get this number in the form of capital or cash assets.