Savvy Entrepreneurs: Consider Starting a Business in the United Arab Emirates

The United Arab Emirates is one of the richest countries in the world. It has a per capita income of $42384 as of 2018. It’s also known for lavish spending, and Dubai alone is home to some of the most extravagant made-made tourist attractions in the world. Simply put, there is money in this country, and a savvy entrepreneur can make good money from it. But how do you go about doing business in the UAE? Well, like in all other countries, the first step is to incorporate a company there. If you have an idea that you believe can go big in this country, here is how to start your UAE Company. 

Consult AE-based company registration professionals 
Opening a company in the UAE is a relatively transparent process. You may even do it online. However, when doing it as a foreigner, you will be hit with a good deal of red tape in the process. Besides, there are things you might apply wrong, only for them to hurt your business later along, due to conflicts with the law. That’s where professionals come into play. Start your UAE Company with the help of professionals and you will not regret it. The process will be faster, and they will ensure that you are compliant with all the necessary laws, including tax laws. Doing it through professionals will cost you some money, but it is worth it, if you want to open a company that is fully compliant with the law. 

Get your paperwork right
Before you even go through the process of registering a company in the UAE, get your paperwork right. Make sure you meet all the visa requirements, and are legally eligible to live in this country. This is a country that is very strict on immigration, and you can easily get deported if your presence there is not compliant to the law. If you get caught after your company is already running, then it would lead to a total loss of all the money invested, as well as the time you have taken to build up your company. That’s why getting your paperwork right is probably the first thing you need to handle, before you even think of going through with the company registration process. 

Get a good sponsor before you move to register
Most foreigners looking to do business in the UAE, do so in Dubai. That’s because it is an international city, easily accessible from multiple continents. However, before you move to open a company in Dubai, you need to ensure that you get a sponsor that understands your business. A sponsor is a local individual or company who you are legally required to take 51% of your company for you to be incorporated in Dubai. When registering a company, look for a sponsor that shares the same vision as your company. Otherwise, you may end up hurting your chances of successes in the UAE. To get a good sponsor, establish good contacts in the country, way before you move to establish your company. Try and find someone who will understand your journey.

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