Dubai has become a world-famous business hub for foreign investors to tap into business opportunities of import/export and take advantage of growing tourism. Besides, Dubai is also a smart and well-established city where businesses based on innovative ideas tend to thrive better than many other locations around the world. If you are also planning to launch a profitable startup in Dubai, then you must be aware of things.

• You Might Still Need to Hire Local Sponsor Services for a Business Setup

Depending on the list of your business activities, you might still need a local sponsor for your business setup in Dubai. In general, a foreign investor can have 100 percent ownership of a mainland business and the need for having a local sponsor has been scraped not long ago.

However, the new amendments also empower the UAE authorities to determine certain activities that hold a strategic impact. These business activities are reserved for Emirati participation on an emirate level.

Thus, if your business doesn’t fall under the category of 100 percent foreign ownership, you will still need to seek out local sponsor services in Dubai.

• Your Business Location Can Impact How Well You Can Optimize Cost, Convenience, and Suitability.

When starting your business in Dubai, the next thing you should know is that Dubai is one of the seven emirates in the UAE, which means, you have got to choose from a wide range of locations for your business. If your business is not easily accessible to people who will be your potential clients or customers, you won’t be making much money and reputation.

So, select a location depending on what kind of business you want to set up in Dubai, the distance traveled, the cost of maintaining an office, your business model, and trade requirements. Apart from this, you also need to determine which location provides better amenities in terms of telecommunication, storage, and space inside the establishment.

• The Visa Eligibility and Requirements Can Also Have an Impact on Successful Business Setup.

When starting and running a business in the UAE, it is essential to also consider whether you and your employees are meeting visa requirements and can get a visa to work and live in the UAE or  not. The UAE offers visas for almost all kinds of businesses. But the number of visas one can sponsor depends on the size of the office, nature of the business, and the employer’s or investor’s category.

If you want your business to run like a local company, you should closely work with your local sponsor to get the visas at least the first time. If you don’t require having a local sponsor, you can still enjoy relatively easier business visa application and approval because the bureaucracy in the UAE is quite flexible for foreign investors.

Lastly, you should get in touch with a business setup advisory firm to register your business, get necessary approvals, complete documentation, arrange an auditor, and open a corporate bank account in the UAE. Your advisory firm can also help find a suitable local sponsor and get visas for your business setup.