Before starting a business anywhere, it is crucial for a businessman to check profit and losses along with the type of laws and policies applicable in that country about taxation and other business activities. Dubai being the center for profitable opportunities for Indian investors has a large population among them. The government of Dubai offers great opportunities to Indian citizens by permitting them to establish their business in few days with the necessary documents and approvals. If you are wondering how Indians can Start Business in Dubai then here know here know the complete guide.
Indian citizens have been given this advantage as they have been the most productive international investors in several parts of the UAE including Dubai for centuries. They have contributed a lot to creating employment opportunities and business opportunities in Dubai.
It is not only this factor that drives Indians to start a business in Dubai, but the fact that there is no corporate or personal taxation system plays a big role. The low import duties, free trade systems, and smooth taxation policies open doors to a lot of Indians every year. Although, no businessman thinking with the right mind will start their business without knowing regarding the legal needs.
- There are some vital aspects that you have to keep in mind before starting a business in Dubai:
There are some vital aspects that you have to keep in mind before starting a business in Dubai:
1. Visa Eligibility
The visa eligibility of the businessmen and their employees is very crucial typically, visas are provided to all kinds of activities of the business, although, their number differ as per the variety of criteria impacting the busine4ss. This is to be kept in mind, that visa applications are not tough in Dubai. However, this factor is very crucial this is not equally tough.
2. Hiring a Business Agent
Expertise is vital before starting a business in Dubai. An agent will not just offer his expertise in the field with the best ideas but will help in the process of registration as well. An agent can prove to be very helpful in offering various other nominal services such as offering knowledge about the probable costs included, opening a bank account, etc.
3. Trade Name Registration
This is compulsory to register a trading name for the company, before starting a business in Dubai. A trading name works as a trademark and is used to identify a special business or company. This helps in making trust and goodwill among the clients with some exclusive rights enjoyed by the company on the trade name.
4. Registration of the Company
It this mandatory to register your company with the DED (Department of Economic Development) before starting a business. The Memorandum of Association of the company has to be notarized by the department before getting accessibility for easy functioning of the company.
5. Trade License
A trade license in Dubai permits you to commerce business in a special trade. Therefore, a trade license has to be obtained after the registration with the Department of Economic Development to commerce the startup. Keep in mind that the trade license must be well fitted in the jurisdiction of the activities of the business included as it doesn’t allow access to other business opportunities.
6. Membership Registration
A membership at the Dubai Chamber of Commerce and Industry is required before starting any industrial or commercial business unless this is a very small-scale business. The membership with the Dubai Chamber of Commerce and Industry is valid for one year and offers security to the business community in many forms. Although, the free zone companies maybe or maybe not select to register with the DCCI. Since this is a very crucial certificate before starting a business in Dubai, it is important to get acceptance. You have to keep in mind some objectives before applying with the DCCI, which means you should be having a trade license, you should have industrial or commercial premises, the business must be in operation and you must have a sound credit rating ten years before the application.
7. Ministry of Labor
An application at the Ministry of labor is required for getting an establishment card. The company’s labor unit has to be registered with the Ministry of Labor prior to commencement of the business. This ministry enforces laws and regulations for employers and employees to sustain sustainability and peace among them.
8. General Authority for Pension and Social Security
The employees must be registered with the General Authority for pension and social security to save them from any sort of exploitation before, after, or during their employment in the company.
9. Rent or Lease an Office
In the final step, after all the registrations and applications are accomplished, you require a rental office or taken on lease for starting the business in Dubai.
Above we mentioned the process of starting a business in Dubai for Indians. We hope this process will inspire you and help you establish your business in Dubai without any hassle.