The abundance of possibilities in the market gives possibilities to have a business set up in Dubai. This always shows the worth of the state and it increases the probabilities for international investors. More than 20 million users give an enormous sale to business owners and companies. The government of any state and the people who are residing within the state are providing them with various events. Because of the variety in the market of Dubai, keeping the stock index and foreign opening prosper your business. Every type of company can do work here but in different licenses and it is defined by the business venture by itself.
For example, if you are doing a commercial business and you are trading products then in this case you need a commercial license. Moreover, Investors who want to get established in this country can experience more advantages of this market. As this market is full of aesthetic diversities. Due to the multicultural atmosphere, Dubai presents unending pleasure and business timeliness. These business opportunities are giving the new ways and the street paths for new alternatives related to the business. Mostly Dubai’s population is based on immigrants so, this land is suitable for foreign investment and business ventures.
The Consequences of Not Having a Registered Business in Dubai
There are many pros of having a business in Dubai. But before getting the knowledge, or starting the business here, you should consult any legal adviser or any business consultant companies. The agents of the consultant companies are more advanced in the knowledge and information related to corporate laws. They provide their services to foreign investors because these investors can’t put their investment in the market without getting registered companies and businesses. This is the rule of the UAE government, there is nobody can carry any business activity even without the license and registration.
If he will do any business activity, the state can take the action against them. So, besides the pros of the market, there are many consequences of not having a business registration. When the entrepreneur come here and want to do business, he didn’t know-how and from where to start, the authoritative power of the corporate sector is the department of economic development. This department has mentioned all the related laws, rules, and regulations in its schedules for the new entrepreneurs.
The Pros of Having Registered Business in the UAE
Entrepreneurs can get several advantages from the registered business. There are three kinds of business a man can do there, commercial business, personal business, or just an investment in the government projects as a sleeping partner. But all these business activities need licenses and permission letters from the department of economic development. Once you get the business registered along with the DED, you are free from the tax. The government is allowing the tax exempted trade within the state and put of the state.
This happened because of the signing of treaties with the other countries under the world trade organization. The purpose of signing these treaties and agreements of the UAE government to provide opportunities to their business community to go out of the state also. With the state, business holders are exempted from holding taxes and sales taxes but they have to pay the shares to the government in form of a partnership. The registered business in free zone areas provides the best location according to the industry and business activity. The defined laws and rules provide endless possibilities to expand the business. The business setup in Dubai is indeed the best choice for the foreign investor or local investor.
The Possible Cons of the Business in Dubai
Where there are advantages, definitely there are some cons of having a business set up in Dubai. No state in the world can provide endless possibilities and opportunities to foreigners in their states. They have some limitations in the activities either related to the business or in the travel. Like once you have your company in the free zone, you can perform only specific activities. Other than defined business activities in the schedules of the DED, you can’t carry any other business activity. Being a new investor, you can’t hold 100% shares of your company on your own. You have to do the partnership of 51% with the residents.
What is Necessary for the New Entrepreneurs to Know about the Market of Dubai
If you are going to have a new business in Dubai, before starting any activity, you must know about the laws and schedules related to the corporate sector. You have sound knowledge of the market and trends. You must be aware of the related laws that can help you in enjoying the perks of the market and state policies. One of the most important things, don’t forget to hire a company or any legal advertiser.
