Setting up is the most integral and important part of the business, no matter what type of business it is. Every country has its own procedural steps and regulations that outline the business setup requirements. So does UAE, where adherence to stringent laws is of absolute necessity. While local businesses are given enough room to experiment, offshore business organizations have to be very careful about adapting to the legal system of the country. Since the last couple of decades, legal implications are narrower and more difficult. For Mainland companies, the major chunk of the business must be owned by a UAE nationale, i.e. 51%. There are a lot of incidents where the severe laws of the country have made certain business setups extremely tedious and horrific. Due to the local preferring legal system, inexperienced businesses do not get a chance to survive the competition. Therefore, proper consultation is of utmost necessity.
For the last 40 years, UAE remained to be an open economy and continuous to attract strong capital flows across the regions. According to Gulf Cooperation Council (GCC), UAE is considered to be the one of the most open country for businesses. Seven emirates is currently being explored as potential business locations. Although Dubai is known to be the most reputable location for businesses, Abu-Dhabi being the capital land is recently being known globally as a strategic place to cater business due to its reserves and large zones of land.
Allowing various types of business to operate and having accessible world class infrastructures regards UAE an ideal place for small and large scale business, foreign investment and such.
Points to Consider for Business Set-Up
- Nature of business
- Expansion plans
- Capital to invest
- Need for an investor/shareholders
- Implication of Taxes
- Liability and risks
- Audits and completion of requirements as a compliant locally
- Mixture of persons and companies
We welcome your enquiries and concerns. Our friendly business consultants look forward to assist you.