• Home
  • Entertainment
  • Crime
  • Sports
  • Celebrity Gossips
  • Across the Globe
  • Business And Money
Top Posts
‘Got another zero mileage’ – Sydney Talker celebrates...
“It gets better” Moyo Lawal beams with joy...
“From the ashes we rise” Alex Ekubo speaks...
Caroline Danjuma lands juicy appointment with Actors Guild...
I was stillborn – Toyin Abraham shares strange...
Asake was getting in my ‘brainwave’. I feel...
N700k in the new currency is now being...
I’ll never forgive y’all – Singer Ayra Starr...
High school student facing criminal charges following viral...
An organ harvesting ring is thriving in Nigeria...

  • Home
  • Entertainment
  • Crime
  • Sports
  • Celebrity Gossips
  • Across the Globe
  • Business And Money
0

How to start a business in the UAE

How to Start a Business in the UAE

The current market trends in the United Arab Emirates prove that there are plenty of opportunities from which businesses can profit and grow. This is because of its strategic location and its ability to trade with almost 67% of the world. The UAE has opened its doors to a host of businesses from around the world. This opportunity is not just restricted to well-established companies but also start-ups too. However, this country has some procedures, laws, and policies that you should know which govern the setting up businesses. Below is the guide on how to start an enterprise in the UAE:

1) Hire a Business Setup Consultant

Business startup consultants know the ins and outs of starting and running a business in the UAE. To set up a business here, you are required to register and acquire a commercial license. The business consultant will prepare all the documentation needed to register and license your venture. Also, they help you and your employees qualify for the appropriate visas.

It would be best if you also considered hiring a consulting firm since. Through these services, they will help you set up a corporate bank account. Go for a credible consultant firm to help you start a business in the UAE and connect you with local vendors for the marketing of your company products or services.

2) Look For a Local Sponsor

Any non-resident starting a business in the UAE mainland is mandated to have a local sponsor as a liaison. The mainland is a non-free zone that is regulated and licensed by the Department of Economic Development (DED). In this zone, you are allowed to run business with the local market as well as internationally. The partner has to be an Emirates resident. He or she will hold 51% of your business shares. This sponsor is known as a sleeping partner since he or she will not contribute anything to your business.

It would help if you found a sponsor you can trust since they hold a major stake in your business. The company or individual sponsoring your business will require a yearly retainer fee. You need to negotiate the retainer fee before making this agreement. For safety reasons, make sure the agreement is written and attested in an Emirates court.

3) Consider Setting Up In a Free Zone

Despite UAE being a business hotspot, not all locations are convenient for business. There are over 37 such zones in the UAE. They do not operate by the countries trade laws. It would be best if you considered setting up in a free zone, which allows you 100% ownership of your business. They also give you a 100% tax exemption for imports and exports. You do not need a sponsor to operate here. In this zone, you can start any business be it retail, financial or hospitality.

4) Know the Cultural Laws in the UAE

The UAE is an Islamic state, so you need to make sure you know what is acceptable. Importing of some goods such as pork, weapons, and e-cigarettes, is not allowed. You and your employees are also supposed to dress modestly in public.

How to start a business in the UAE was last modified: April 26th, 2020 by Aderonke Bamidele
1
Facebook Twitter Google + Pinterest
Aderonke Bamidele

Aderonke Bamidele is an award-winning information entrepreneur with strong 8-figure online businesses. She has a passion for helping people who are searching for relevant information from the web to solve their day to day problems. Remember; knowledge is power. She also likes to write about things in general in her country and all over the world. From money making ideas to Latest news and celebrity gossips. Her passion for blogging is strictly inspired by things that she loves to talk about.

previous post
Professional Makeup Training Class – Learn How To Start A MakeUp Artist Business
Successful Business
next post
5 Steps to Starting a Successful Business

You may also like

4 Tips to reaching your target market...

Latest Online Money Making Opportunities With Examples

How to plan for successful trade shows

Ways to get crude oil from Nigeria

Understanding the dynamics of real estate sector

Work at home- List of profitable jobs...

So Real! 10 Ways To Become A...

Tactics to reduce shipment costs in Nigeria

How to start a glass bead making...

4 reasons why CBD businesses will be...

Keep in touch

Facebook Twitter Google + Instagram Pinterest Linkedin Youtube Email RSS
  • Facebook
  • Twitter
  • Google +
  • Instagram
  • Pinterest
  • Linkedin
  • Youtube
  • Email
  • RSS
Footer Logo
  • Home
  • About Me
  • Contact Me
  • Advertise On This Blog
  • Share Your Stories
  • Privacy Policy
  • Terms of use

©2023 - Aderonke Bamidele's Blog. All Right Reserved. Designed and Developed by ABB


Back To Top