Tips to Start a Business in UAE
With the upcoming global events in U.A.E., this would be a good time to invest in or start a business in U.A.E. The present government of U.A.E. is encouraging people around the world to invest and start businesses by offering many concessions, benefits, and support in many ways. With many other conveniences, the government now offers long-term visas for investors of businesses to expand the economy of U.A.E.
Keep in mind when structuring a business in the U.A.E. it is a must to ensure whether the form of business entity has all requisite licenses to perform its desired commercial activities. As per U.A.E. Commercial Companies Law 2015 (as amended) (the “CCL”), it requires a UAE national (an Emirati national or company wholly owned by Emirati nationals) to own 51% of the share capital. This foreign ownership restriction applies to companies registered as limited liability companies under the CCL and licensed by the Department of Economic Development.
Many foreign investors wish to avoid a local shareholding in the structure. The easiest options to avoid such complications is to establish your business in a free-zone jurisdiction and achieve 100% foreign ownership.
With 100% foreign ownership, the next step would be to develop and maintain a profitable business. Building a strong business plan that has been structured based on a good understanding of the market, identifying and knowing your competitor and their activities, determining how your product or service will fit into the current market conditions, and understanding the profitability of your business will help you to plan and grasp an idea about your current and future business objectives and goals.
Given below are 5 tips to successfully entering the UAE market
- Perform a rich and detailed market research.
- Based on your market research develop a plan for your business.
- Understand the different commercial structures in UAE and identify the most appropriate/suitable commercial structure for your business.
- Be aware of laws and regulations.
- Build your online presence and market your business properly.
We believe that by following our tips, you may successfully enter and manage your business in UAE. You could also get in touch with our Eagle Eye professional team to help you establish and maintain your business profitably. Start your U.A.E. success story with us.
Please feel free to contact our agents, we would be glad to assist.
Our main mission is to make your dream business reality in U.A.E.
