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Thu 21 May 2020 12:02 PM

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What you need to know about starting your company in the UAE

The UAE's business landscape is subjected to numerous regulations. Dubai-based experts Decisive Zone help entrepreneurs familiarise themselves with the setup process beforehand.

What you need to know about starting your company in the UAE

Dubai-based experts Decisive Zone help entrepreneurs familiarise themselves with the setup process beforehand.

What you need to know about starting your company in the UAE

Researching your niche in the market: Before starting your business in Dubai, research the market thoroughly. Study your niche and focus your business plan on how your company can tackle a pain point neglected by other businesses. Through your marketing, emphasise to your prospective clients that you will fulfil that need for them. Without strategic brand differentiation, it will be very difficult to survive in today’s intensely competitive market.

What you need to know about starting your company in the UAE

Choosing your location wisely: Many new entrants gravitate towards Dubai’s free zones due to their attractive tax policies and smooth set-up processes. While these benefits are valuable, it’s also important to be aware of the fact that free zones also impose several limitations on business activities. For instance, most free zone businesses can only engage customers within their vicinity and are issued a limited number of employee visas.

What you need to know about starting your company in the UAE

Hiring a Public Relations Officer: While the process of setting up a business in Dubai is well-organised and accessible, many first-time business owners feel overwhelmed by the paperwork required by government departments or free zone authorities. For this reason, many find it extremely valuable to hire a public relations officer (PRO), or a professional business start-up agency to assist them in setting up their company.

What you need to know about starting your company in the UAE

Complying with regulations: When brainstorming names for your business, it’s important to keep government regulations in mind. Businesses cannot be named after a family, tribe or individual (unless it is the licensee), and they cannot share the same name as an established brand. Names of countries are also prohibited unless approval is obtained from the respective embassies.

What you need to know about starting your company in the UAE

Finding the ideal corporate bank: Dubai is home to as many as 45 corporate banks and it will serve new business owners well to carefully study their choices before deciding which bank to give their business. Corporate banks tend to have strict policies and high fees, which can significantly impact your company’s operations and profits. Make sure the regulations of your bank of choice favour your business instead of hampering it.