One of the marketing campaigns that is used in Dubai as well as across the United Arab Emirates is the ease of business setup by foreign business owners for operation in the free trade zones.
Whilst it is true that the setup itself can be very easy, there are also a lot of mistakes, omissions and possible issues that foreign business owners may not know or be aware of as a potential delay or significant issue in getting their business application approved.
To address the common issues and to also catch technical mistakes, hiring a law firm that specializes in business setup for foreign owners is a very wise decision. These firms are usually internationally based and can work with the investors before they arrive in Dubai or once they arrive.
Important Steps
Unlike in other areas of the world, there are several steps involved in any business setup. This includes providing the application and all required supporting documents to the correct authorities in the correct order in the process.
For example, the business will have to have an approved name, a business address and location in an approved free zone business office complex as well as the business plan, copies of passports for all shareholders and managers as well as information about the type of legal entity for the business.
Simple mistakes such as choosing the incorrect business type or failing to provide the correct documents can delay the application. It is also sometimes a challenge to find an approved name for a business, particularly for those unfamiliar with the strict legal issues around business naming throughout the UAE.
Working with a business lawyer to complete the setup process has additional benefits. The lawyer can provide information that will be helpful in establishing the company as well as in having all required contracts and agreements in place when you open for business. Visit the website for more information.
