Doing Business In UAE – Looking For Key Facts?
Starting a business sounds like great idea, but it is not something quite easy in any part of the world. Establishing a business really can take lot of effort, time and money and investors have to be really sure about making the right decisions at the right time, to ensure that they are not losing any money while doing so. While the world perceives UAE as oil production based economy, it has gradually emerged to a unique perspective and has become user friendly to the way they do business and focused more on the services industry in the past few decades allowing more international entrepreneurs and business owners to come and establish their business.
The success of everyone’s business usually depends on the apt location and therefore its selection should be made prudently to ensure that the benefits are retrieved and boost the business productivity. If one starts venturing in UAE for the first time, the advices from experienced professional business consultants are inevitable and can show the best commercial properties in order to reap the best benefit deriving from either buying or renting it based on your business budget. Acquisition of the property in UAE can be a tough task and therefore most international business companies prefer to hire business consultants who make their job easier. With the help of local business consultants, international companies can choose their right location that is crucial for the success and expansion of their business in UAE.
When you think about doing business in the Mainland of UAE, you should look for the presence of a local sponsor. Most of the local companies in UAE function with the sponsors who have 51% share in the business without interfering in the daily routine affairs of the company and therefore it makes the international shareholder to run the business and invest in the region without complexities. However, for many first time business owners this can be a frustrating situation as they might not have such business laws back home in their native country. If you step in UAE for the first time to commence the business, it is advisable to seek advice from professionals in order to select the best local sponsor available that can help you to establish your business locally.
Alternatively, there are opportunities and options available for investors to commence the business in the free zone where they can concentrate the international market availing 100% ownership and without identifying a local sponsor. Also, meanwhile you choose your business in the Free Zone locality it is still recommended to incorporate a local company with the help of a local sponsor that can help you to establish your business and penetrate the opportunities available in the local market of UAE.
Once, you have decided a location and identified a local sponsor its time to find the right office space to operate your business. To smoothen the activities, you can avail the help of local business consultants who can gather you information pertaining to affordable business and office spaces in locations close to your clients and customers. You also need to remember that in UAE, your business address can create an impact and difference to your business and should be selective on the aspect. You can also plan for warehouses and factory spaces close to your office premises to handle your business in a better way. While choosing office spaces, you need to be clear about the size of its space and should decide about the number of employees needed to operate your business.
Apart from setting up the business, you should also need to concentrate and look out for better employees who can prudently look after some part of your business and can offer you better productivity. Many international firms today believe that outsourcing accounting department is a better option as it yield better results at a marginal cost that actually saves lot of money to the company. If you are looking to have economical services for accounting activities, you can outsource your accounting department to independent professional consultants and can ensure to get the best results at an affordable cost.
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