Every year, people from around the world think of coming to Dubai to get into business for themselves, and would like to know how to start a business in Dubai?
This article will help take you through some of the common things you need to know before deciding on starting a business in Dubai.
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Doing business in Dubai is something that many foreigners aspire to. Over the years, this small emirate has become a destination for non-UAE nationals to be able to trade.
The emirate’s government is constantly working to help make it possible for entrepreneurs to form and trade as small and medium sized businesses.
Before you can set up to carry out any type of business in Dubai, there are several processes that need to be followed to satisfy the legal requirements.
You will need to determine the type of business that you intend to setup, and the category in which your business will fall under.
You will need to identify the legal form that your business will take.
In order to do business in Dubai, it is essential that you partner with a local UAE citizen, which involves giving up the majority shareholding in your business.
According to UAE law, your partner will need to have a minimum share of 51% in your business. The only way of avoiding the need to have a partner is to open a business in a freezone area, in which case you will be legally entitled to ownership of 100% of your business.