Dubai Free Zone Offers Excellent Business Opportunities For Foreigners

Did you know that a person can start a business in Dubai? Yes, a foreign national can actually open a company in Dubai, which is also true for expats. The total population of the city is over 80 percent foreign, with many of these having their own thriving businesses.

Dubai is a very welcoming city to overseas entrepreneurs. This is because of the number of expats who have made it big in the city by starting a business. Now, if you are a foreigner considering how to start a business in Dubai, here are some of the requirements you need to fulfill in order to obtain a legal business permit. Most importantly, these requirements are mandatory in order to sponsor your visa for residence in Dubai.

You need to apply for a business license before you even think about getting your business license. The application consists of a corporate formation deed, registration papers, payment of taxes, etc. Before your application is accepted, you will be asked to submit an application for a freehold license in Dubai. This is one requirement that is not required by all overseas entrepreneurs, but it is strongly encouraged.

After obtaining a business license, you can now start looking for sponsors. If you want to receive funding from the Dubai government or other private investors, then you will need to submit a project proposal. A project proposal is essentially a proposal that details the proposed operation of your business. For foreign investors, Dubai is an excellent place to conduct business since there are no personal income tax and property tax.

Next, you will need to find the appropriate trade license category in Dubai. Each category in Dubai corresponds to a corresponding trade license type. For instance, all business activities that require the purchase or sale of goods require a trading license. On the other hand, all businesses that engage in import or export require an import license. Once you have obtained your business licenses, you can start marketing your products or services. If you are starting up a retail store in Dubai, then you must follow all laws pertaining to retail sales.

If you have successfully established your company, then you can proceed to the next step which is company formation. In company formation, you will be required to fill out forms and submit it to the Dubai Free Zone Company Registration Department. This company formation process usually takes around 6 months. After company formation, you can now start trading as your company is registered with the Dubai stock exchange (DSE).

There are many reasons why most companies prefer to open a branch in Dubai. One of the main reasons is because business owners need to comply with all laws irrespective of their nationality or citizenship. Another reason is that most companies prefer to work with experienced and professional emirate company formation experts. These emirate experts are familiar with the norms and regulations pertaining to trade and money exchange in the emirate. Furthermore, if the company is registered with the Dubai stock exchange (DSE), all its shares will be publicly traded on the DSE.

As you can see from the above-mentioned points, working in Dubai does not require you to have a large sum of money. In fact, you do not even need to have a legal work visa in order to start your business activities. Most people who wish to trade or run a small business in Dubai do not have experience in dealing with offshore trade. This is the main reason why the emirate has become so popular for people who wish to do business from home.