Role of Dubai consultants in company formation

Before planning to start a business in Dubai you should consider the following factors. If you are not sure about doing these tasks yourself, then the best solution will be to engage a professional business consultant to perform these procedures for you. If you are a foreign investor or an entrepreneur looking for an offshore company formation location and set up in Dubai or anywhere in the UAE, a business consultant can assist you with the whole process involved in UAE business formation from providing right choice of locations to post set up requirements. Jumeira consultants offer all the necessary help and support in a Dubai business incorporation process professionally and cost effectively.

The factors to be considered before company formation in UAE are

1. You should have a good knowledge of the region.  Carry out an extensive research into the business sector you wish to operate locally. You must have a feasible business plan, which includes a thorough analysis of the market scenario, your possible competitors, your business prospects and expected profits. You have to arrange for investment and funding through your own resources or your bank .It is better to opt for any other means than applying for a loan locally, specifically, if you’re new to the region and does not hold a track record. A credible and efficient plan might catch the attention of local or government support.
2. According to the law, you need to have a local partner who holds the majority share, and thereby has the control over the business .The local partner can be a company or an individual and they don’t have to contribute to the initial investment. The partner can be compensated as part of a mutual contract. This requirement is presently being reviewed to encourage foreign investment.
3. After you register your business, you must prove to the Ministry of Commerce that you have a considerable sum of money to invest in the company. The required sum differs among the states. In most cases, it has been set between $10,000/£6,500 and $50,000/£33,500 and this amount is regarded as a guarantee against liabilities.

The company formation procedure is difficult and financially risky. Local knowledge plays a crucial role in the whole process. You must also consult a legal expert to know the intricacies of the regulations and laws. An experienced consultant will guide you through the registration complications and the help is vital for protecting your business interests. Whether your business is small or large you need to put everything in place legally to avoid any future trouble due to irregularities in documentation. To overcome all these initial difficulties and to have a trouble free business registration in UAE you may need a professional business consultant’s help. We, at Jumeira offer end-to-end business consultancy services covering all your business formation needs.