Business Consultants in Dubai
Setting up a business in Dubai is not just about getting an office. There are much broader and deeper aspects to company incorporation. Are you planning to set up a business in Dubai? AHG Chartered Accountants, will be the perfect partner for you; we have been rendering business consultancy services in Dubai for over a decade now. With our years of experience in business consultancy, we have been actively serving and supporting our clients in the best possible way. We, at AHG focus on the needs of our clients and offer our services to accommodate their requirements.
How Much Does It Cost to Setup a Business in Dubai, UAE?
The cost of setting up your business in Dubai, UAE depends on several factors, such as your chosen business activity, whether it will be incorporated in a free zone or Mainland, visa requirements, and the number of shareholders involved. But that’s okay because we have years of experience handling business set up in Dubai and have developed a handy cost calculator to help estimate your business costs.
Company Formation in Dubai, UAE: Should You Do It Alone?
Yes, you can start your business in Dubai on your own. However, there are some challenges of which you will need to be aware!
- Many Options Can Be Confusing
The UAE has more than 50 legal jurisdictions, making it challenging to identify one that best suits your business needs. It’s important to choose the right business activity, secure the necessary licenses, and obtain full approvals to run your business legally and smoothly. DO NOT experiment with your business; take professional help to make an informed decision.
- Too Much Paperwork
It’s not just about the approvals when starting a business; there are many paperwork requirements, including banking, legal requirements, and more. Completing this paperwork is not always a simple process.
- Time is Money
Can you afford that time? Coordinating with government authorities and departments can be a time-consuming task that requires a lot of patience and travel. This is time better spent on your business plans and strategies.
- The Approval Hustle
When it comes to filling out approval forms and completing documentation, the struggle can be real, and the process can be daunting. Are you sure you want to spin circles waiting for approval and lose time caught up in red tape?
STEPS FOR BUSINESS SET UP IN DUBAI, UAE
-Choose a Trade or Business Name
- Every business needs a name. You need to submit a request to the Department of Economic Development (DED), ensuring you do not pick a name that has already been chosen by another company and one that does not violate any restrictions for profanity. Business names that infringe on these regulations will be denied
-Choose a Legal Structure
- The legal structure your business incorporates will play a significant role in how your company operates on a day-to-day basis, including how to handle assets, profits, and losses. Some legal structures are Limited Liability Companies (LLC), Sole Establishments, local branches for larger corporations, civil companies, foreign company branches, holding companies, and free zone companies.
-Determine Your Business Activity
- Your business activity will be greatly impacted by the sector in which you will operate. There are many different business activities to choose from, ranging from service-based industries to trading and manufacturing.
-Select the Location
- When starting a business in the UAE, you have several location options to choose from, including Mainland UAE, Free Zones, and UAE Offshore. If you are a foreign entrepreneur, UAE Offshore is an excellent place to begin your venture. However, each location has unique advantages and opportunities to benefit your business.
-Apply for a Business License and Visa
- When applying for a business license, you’ll need important documents like passport copies for partners, shareholders, and board members. Depending on the sector and your chosen business activity, the processing time for this can take a few days to several weeks.
-Open a Corporate Bank Account
To properly conduct business, you’ll need to open a bank account. Dubai has a number of globally respected banking institutions to choose from, including HSBC, Citibank, and Barclays, to name a few.
-Get Approvals
- For some companies, the DED will require additional documentation and approvals,including reference letters from embassies, banks, and regional government authorities,to prove that you and your shareholders are in good professional standing.
What is a Business Consultants in Dubai?
If you’re considering setting up a business in Dubai, you’re not alone. Dubai is one of the fastest-growing business hubs in the world, with a dynamic economy, a strategic location, and a pro-business environment. The city offers a range of opportunities for entrepreneurs, from tech startups to retail businesses, and it has become a popular destination for ambitious entrepreneurs looking to establish their business start up in the Middle East.
As a start-up, you will need to ensure financial success from the very beginning. This means keeping careful track of your expenses and income, as well as making smart decisions about how to allocate your resources. An accountant can help you with all of this, ensuring that your financial foundation is strong and that you are making the most of your money.
An accountant can help you keep track of your business start up expenses so that you know where every dollar is going. This is important not only for budgeting purposes, but also for tax purposes. You will need to know what expenses are tax-deductible in order to maximize your deductions come tax time. An accountant can also help you set up a system for tracking income so that you have a clear picture of your business’s financial health.
In addition to helping you keep track of your finances, an accountant can also offer advice on how to best allocate your resources for your business start up. If you are unsure about whether to invest in new equipment or hire additional staff, an accountant can help you weigh the pros and cons and make a decision that is in line with your overall business start up goals. They can also offer guidance on financial planning and goal setting, helping you ensure that your business start up is on track for long-term success.
Our company AHG can help you establish your company or investment, by providing integrated and specialized services, which ensure the success of the project and the achievement of its goals. Therefore, contacting us is an essential step to achieving success in business.