All you need to know about starting a business in the UAE

Getting your business off the ground in the UAE can seem like a maze of paperwork and administration, but the process can be quite linear with a clear understanding.

What do Entertainer, Ekar, Mumzworld, Fruitful Day, RelyOn Nutec have in common apart from being the most renowned unicorns of the region? They all were setup by the same company formation specialists — Creative Zone.

The multi-award-winning business setup advisory revealed that it is currently dealing with around 60-70 companies from across the world looking to setup a business in Dubai and, so far, have assisted more than 45,000 entrepreneurs start their operations in the UAE.

Dubai has become a preferred destination for start-ups and investors due to its entrepreneur-friendly business landscape, tax benefits, and conducive business laws. However, the country has put in place a thorough and structured process that businesses need to follow to operate in the emirate freely. And this is where the expertise and local knowledge of a business setup advisory is required. They help you in making consequential decisions, protect you from any impending obstacles and most importantly they make your business future-proof.

While talking to Creative Zone, a Dubai based business advisory to understand the various parameters and services they provide to their clients for a correct start.

While some of the procedures are standard, many others vary depending on your business type. For instance, the nature of your business activity decides whether you should opt for mainland or free zone, or even require external approvals or additional documentation. The pre-approvals are generally based on a location’s lay out specially for cafés and restaurants. Business setup experts can advise you better on listing shareholder(s) responsibilities, share capital amount, and other key inclusions required for the paperwork.

Furthermore, choosing the correct jurisdiction to achieve your business goals is the most important decision before starting a company because opening a business cost less than closing it. You can choose between a mainland, free zone or offshore, but let your target audience and the market determine that.

Emad Youssef, Operations Manager, Creative Zone, said,

"I deal with different types of businesses every day, ranging from commercial brokerage and fitness centres to e-commerce and food trucks, and every business has different rules, paperwork, approvals and even physical offices or warehouse requirements, often new entrepreneurs come with a lot of preconceived notions, half-researched information that ends up costing them time and money. This is why it is so crucial to get the correct advice in the beginning as that help entrepreneurs make the right decisions and plan ahead,"

A new business needs a lot more than just a license, and one of the trickiest things to do is open a corporate bank account. Before they even consider opening an account, companies have to submit an exhaustive list of documents like an office lease, MOA, business plan, share capital, legal structure, and other complex paperwork. One of Creative Zone's most convenient and best-selling services is their in-house concierge team that prepares all documents and liaise with banks on your behalf. Offering office space and Ejari through their co-working facility at Downtown Dubai provides all amenities a young and modern company needs for its growth.

Companies registered with Creative Zone enjoy the privilege of automatically becoming a member of CZ Access. In this exclusive loyalty rewards app, their clients can choose from 50+ business, lifestyle, and F&B products at heavily discounted rates and other ongoing offers. Companies featured on the app include the likes of Microsoft, Zoho, DHL, amongst others.

Running and growing a business is challenging, but starting a business shouldn't have to be if partnered with the right company. Firms like Creative Zone have earned a distinguished reputation in the UAE's business landscape by giving people the right advice, timely processes at the right price.

News Source: Khaleej Times