Top 5 reasons why you should hire a business setup consultant in Dubai
While Silicon Valley may stand undefeated as the most prominent name for tech entrepreneurs and startup visionaries, other regions all over the world are worthy competitors, and in the recent years Dubai has made a name for itself as being among the hottest startup hubs in the world. However, starting up a business in the UAE may not be an easy task to tackle. In order to make an informed decision in establishing the correct business line, meet all the legal compliant requirements and actualizing a business model that would reflect the desired commercial and financial requirements, it is strongly recommend that any entrepreneur should hire a business startup consultant. Here is why:
Legal formalities and licensing
In Dubai, you will be facing a number of legal formalities such as registration and licensing that has to be dealt with before starting a business. A consultant is familiar with all these formalities and can ensure that your business set up process goes smoothly and hassle-free. Moreover, every business decision you make has further implications associated with government bodies depending on what the core business activity is. An advisor can help you understand the risks and exposure related to any legal form and document and expand your horizons on the options that lie available for your mission and vision.
Background search and finding the best location
Economic feasibility studies for new projects will provide specific solutions to help organizations make a difference in the market place. In order to ensure survival, businesses need to plan and anticipate the future, enabling them to better prepare for events that could happen. A business consultant will focus on the wider business and marketing environment within which your organization whishes to operate, providing you with the information that will allow you to make effective decisions. One of which is choosing the location where your business will operate, a decision that requires careful consideration.
Laws, regulations and ownership
The UAE is distinctively divided between the onshore sector, dominated by local business interests, with restrictions on foreign ownership, and the offshore sector which consists of a number of free zones, each with its own rules and regulations. A full compliance with the existing rules and regulations requires the intervention of professional advice, since the violation of any of these laws can lead to heavy fines.
Strategic government partnership
The formation of any type of business in Dubai requires government relationship, a ticket that a professional consultant already owns. There are various government agencies that any business owner should be aware of such as: The Department of Economic Development (DED), Foreign Direct Investment (FDI), Department of Tourism and Commerce Marketing (DTCM), Dubai Health Authority (DHA), Dubai Land Department (DLD), Real Estate Regulatory Authority (RERA), Ministry of Economy or Dubai Municipality. A consultant will act as a liaison between the business and the related government authority.