Dubai is one of the fastest growing business hubs around the world. There are a number of reasons it has gained popularity for being the centre of business across the Middle East. It offers state of the art facilities do not just the local businessman but foreign investors who wish to do business in Dubai as well.
If truth be told, Dubai is one of the most progressive Emirates in the whole of U A E, managed to lead with innovation. the fact that Dubai has a politically stable environment and offers plenty of growth opportunities for foreign investors has encouraged investments from many different parts of the world. If this is what you are interested in, then given below are a few tips that are sure to help you out in your offshore company formation in Dubai.
Understand the culture
Before getting started with establishing your business presence in Dubai, it is extremely important for you to get a basic understanding of its culture. You need to bear in mind the simple fact that Dubai is a multicultural Emirate. People from many different countries around the world have called Dubai their home and this is what has made it one of the most culturally diverse places in the world. However, the Arab culture over rules the business world. Once you learn about the basic culture, you must also acquire information about the basic business rules and regulations.
Find a sponsor
The government of Dubai has deemed it necessary for all foreign investors to acquire the services of a local sponsor. You will be required to offer a 51% share of your business to the sponsor. The only role of the sponsor is that he will take responsibility of your business. Without a sponsor is no way that you will be able to establish your business within the mainland of Dubai. If working with a sponsor is not something that you are interested in, then you must focus on Ajman free zone business setup.
Get your licences sorted out
Like any other country, Dubai also deems it necessary for you to acquire the writer licences to get started with establishing your business. You basically have to get in touch with the Dubai Economic Development department to get your licences sorted out. Although the scrutiny is rather strict, can be assured of is that the application process will be smooth, easy and quick.