Starting up a business is no easy job, more so when it comes to setting up a registered business abroad. If you’ve already dared to dream of setting up a business in Dubai, UAE or anywhere else, that’s just the beginning!
Setting up the business
Don’t pack your bags the very moment a thought of setting up a company in Dubai crosses your mind. Rather, you should be careful and aware of the pros and cons of starting a business UAE or Dubai based. There are some companies that are dedicatedly helping investors set up their companies abroad. They help in both formation and registration of a business. These companies help the willing investors to find free zones in Dubai and other respective cities where they are based. But before everything else, here are
5 most important, but less known things about setting up a business abroad:
Study the competition
If you are venturing for the first time on a pasture abroad, you must make it a point to study the competition. You may study a few companies in similar business and find out how they are faring out there. If there are any companies that have failed to set up a successful comapny it is important to learn the reason for their failure.
Consider the infrastructure
Before starting your own company in a new land, you must explore the infrastructure. For example, while setting up a business in Dubai, it is important to check infrastructural factors like speed of the Internet, political scenario, economic stability, and transportation facilities available.
Consider free zones
If you wish to own a business 100% without any acting partners or collaborations with the native companies, choose free zones as address for your business. There is however exceptions – if you are involved in a restaurant business or want to set up retail outlets. Different countries have different rules and regulations for acquiring free zones. Acquiring free zones in Dubai may be completely different from doing so in India. So, you need to be careful about the processes and procedures.
Hire an agent to help you register your business abroad. Such an agent will help you at every step of company formation. You might get customized services for formation of a company. Such a company has experts who can guide you step by step to form a new business. It might not be easy or convenient for an entrepreneur to learn all the nuances of starting a business UAE. So, better than making mistakes and facing failures, it is always good to take the help of such a registration agent.
It is important for every business to expand and spread its market far and wide. So, you have taken the right decision in taking your local business to the international front. Just remember the tips discussed here to be able to be successful in the expansion of your business and brand internationally.
The author is an entrepreneur who is planning for setting up a business in Dubai. He is already on the lookout for suitable free zones and is also planning to hire employees for his new office in the city.