When it comes to rapid growth in terms of new startups, most profitable areas to invest in and lucrative policies for a new businessman, Dubai is no doubt a great option. But investing in a new area for which you have no knowledge is a big challenge. A great way to start before the formation of an offshore company in Dubai is having prior knowledge of the issues and obstacles you will face when you enter the market.
While setting up a business in Dubai, there are various challenges to encounter such as finance; the cost of startup which depends on the type of company you are opening, having a right team which has the right expertise for your business to excel, information about all the legal procedures, licensing, governmental laws and regulations, complete and accurate documentation and also understanding the culture is necessary since Dubai is a diverse nation where people from all over the world come to work.
There are many business consultants in UAE who can help you throughout in this endeavor of business setup in Dubai. It is understandable that in order to cut down your expense you do all of the research yourself but considering the risk, it is a better idea to have someone by your side who already has experience so that your chances of losing are minimal. Consulting companies in Dubai can help you in following:
Correct Information and Advice:
For you to start a business especially in a highly attractive area such as Dubai which offers investor friendly rules, you need appropriate information about your target market, consumers and the ongoing market trends. A consultant will advise you according to your demand which will help you in making the right decision.
Saving Time and Money:
Business consultants will save you time as you don’t have to do all the work alone. Consultants will also provide you with the best option which caters to your affordability thus reducing your cost. Also having a person who has expertise in the area you want to invest-in will boost your confidence that you are going in the right direction.
Which Zone to Select:
Before starting a business in Dubai, one of the key decisions is to decide in which area you want to conduct your business operations. Either you want to form a company in Mainland, Free-zone or looking to setup an offshore business.
For Mainland Company formation investors will need to find a local sponsor who should be UAE national. This will restrict the ownership to a maximum of 49%. Whereas Free Zone Company allows an entrepreneur to have 100% ownership of his business but it will restrict the business operations to be conducted in the free zone but outside of Dubai and UAE.
Formation of an Offshore Company means that entrepreneurs are going global. It is not necessary that they should have offices in Dubai but they can contact with banks or have local legal representatives.
There are various benefits of these setups. A business consulting firm can guide better which zone would be appropriate for your company.
Legal Procedure and Paper Work:
Business setup in Dubai requires various legal procedures such as registering your company, getting a license from associate ministries and certain authorities, presenting the founding documents of the business which narrate business objectives, name, location and structure of the overall management and their key roles need to be prepared and presented. Also, these documents contain a memorandum of association, stakeholder’s agreement and company laws. To follow all the legal procedure and preparing proper paper work it is necessary for the business owners that they should have the deep knowledge about the system and its legal procedures. If an investor is not aware of these procedures and required paper work, it will waste a huge amount of time and time is money. That’s why it is recommended to have an expert who can do all these things on your behalf and can save your time and money.
Office and Workforce Arrangements:
When you enter a new market getting a proper space for work, finding the right employees for your business are crucial tasks. Management consulting firms in Dubai can help you to arrange a proper office and an effective workforce.
Cultural Awareness and Adapting in the New Market:
In order to be successful, an entrepreneur needs to understand the cultural difference and accept it. Language, dress, how to present yourself, local norms and traditions should be taken into consideration. Especially the region like Dubai where people are from the different cultural back ground it is important for the businesses to take care the norms and values of their target audience if they want to be successful.
A new investor cannot understand the cultural values quickly, that’s why the consulting companies in Dubai play their vital role as they have the vast experience of working in Dubai, they can help you to understand your audience, how to adapt in to new market and how to brand your products or services while considering the norms and values of your target audience.
Branding:
One of the most important challenges for any business is to make them a trustable brand in the new market. Because Dubai is accumulated of a huge pool of investors already established and well recognized, you need to amp up your game by listening to those already having the idea. Business consultants will help you advertise yourself in the area where every potential customer can see.
A Fresh Insight:
You are prepared and have plans to start your business setup in Dubai. Consultants will give you a fresh outside evaluation of your strategy and give you constructive critique which will enable you to achieve your target.
Considering all these benefits, consulting your business goals with experts will help you put your vision into reality.
There are various consulting companies in Dubai. One of them is KWS Middle East. KWS-ME has been providing consultation to various businesses for over ten years. With its professional and experienced team, you will be provided with the best possible model for your business setup. They will help you in all the aspects related to financing legal procedures, location selection, and workforce arrangements and also guide you in advertising your business. They provide free consultancy so it is also a good opportunity for businesses to discuss their requirements with them while setting up a business in Dubai or all across the UAE, as it will not going to cost anything but give them a useful free expert advice.
Business Setup in Dubai 