Businesses seems to thrive in Dubaiand because of its popularity around the world, a lot of people are nursing the thought of company formation in Dubai. The country has been chosen by a lot of persons as a place for comfort, relaxation, fun and business.
As a business man who seeks to start a business and become an employer of labour in Dubai, you should follow these steps.
Determine the kind of business you want to venture into: this is very important. Unlike some of the countries we have around the world, you need to determine the kind of company formation you want to go into in Dubai, by that we mean what you want to do. You can either choose to go into. There are basically three typesof companies in the UAE.
- Mainland Companies: a kind of business system in the UAE which allows you to perform business both in and out of the emirate.
- Free Zone Company: a kind of business system that is created to boost international business operations by maintaining a zone with preferential custom and tax rate so that both services and goods can be rendered.
- Offshore Company: they deal specifically with the performance of international services and they equally act as a holding company.
- Register your company: This is the second step in company formation in Dubai Your company needs to be known as a separate entity from you in the business world. You need to produce all necessary requirements so as to facilitate the registration process of your business.
- Get necessary business licenses: the licenses differ, depending on the kind of business you want to venture into. For instance, if your business type falls under the offshore company, you will definitely need licenses from the UAE as well as the other concerned countries if you are considering company formation in Dubai
- Apply for visa: if you are presently not in the UAE, you will definitely need a visa to be able to get into the Emirates. Apply for a visa as soon as possible. If you do not have an international passport yet, you should get that first too. Having a visa will grant you access to the UAE and bring you a step closer to company formation in Dubai
- Open a bank account: of course while in the quest of company formation in Dubai, when all is set and done, your business transactions will be done via a bank. You need a bank account as much as you need a business name because when people want to do business with you, they will feel more comfortable to transact with a business account than a personal account.Approach a bank in the UAE and fill out all necessary forms, provide all necessary requirements to have a bank account. This is a necessary step to take as you engage in company formation in Dubai
With the information provided in this article, we are sure that you are now a pro incompany formation in Dubai
