If you want to establish your business first you have to understand all rules and regulation and also the restriction, so that you can make wise decisions of your company. This is obvious to know all rules and regulation to set up for business.
There are two main ways to set up a company in Dubai. This can done by having partnership who owns 51 percent of the company, which is also known as “LLC” (limited liability company), or through one of the many “free zones” where foreigner can own 100 percent of company. The cost vary for both. For LLC, they can range from Dh 30,000 to DH 40000. And if you use company to deal with all legal work and do all paper work than money will be involved, but with that it will save time that is beneficial to you.
Free zones also differ, some free zone only deal with people creative industry such as media companies. The cost can be between Dh 25000 to Dh35000. Free zone visa can limit the activities such as it is not possible to open a retail outlet as free zone company, until the premises are in free zone. Company setup in Abu Dhabi also have same procedure.
Free zones advantages of Dubai:
Free zones are geographic area where goods and service are traded without intervention of customs regulation.
- Foreigners can have 100 percent ownership
- 100 percent recovery of capital
- 100 percent profit
- Formation is quicker of free zone company
- You can find inexpensive workforce
- Easily recruitment procedure
- No custom duties
- Independent regulation
Restrictions of free zone companies:
Restrictions to free zone companies one should know all about them:
- Limited to operating in geographical areas.
- You should engage with an agent or distributor when dealing with mainland client.
- When, selling product to mainland duty will be applicable.
Limited Liability Company can be established in Dubai, this provide scope to them.
Currently a law has been passed where there is must to have one or more local partner.
This law state that local partner must have 51 percent of company ownership. The partners within foreign company benefit having LLC exposure to their contribution to share capital.
Ways to do Company setup in Dubai also firstly requires business plan, licensing, the location on which you are going to start. The way you choose will depend on the success of your company. To make profits is all in your own hands. Ways to do company setup in Dubai requires you to understand all laws and procedure, sometimes owner don’t read the restrictions and then have to pay for it. Different ways adopting can make your company successful and profitable. Same things are required for company setup in Dubai. They also have same rules and regulation plus the restriction. Company setup in Dubai is also a good option for company owners to think about it.