Dubai has transformed itself from a local trading community into one of the most successful cities in the world. It has become an attractive destination for both tourists and businesses.
Thanks to its appeal in terms of investment incentives, the number of expatriate residents has reached the 2 million mark. Dubai remains the best place to flex your entrepreneurial muscles, set up a company, or open an offshore branch.
Last year's Brookings Global MetroMonitor survey ranked the emirate as the fifth-highest-performing metropolitan economy in the world, based on growth in GDP per capita and employment rates.
Starting Your Business in Dubai
UAE's visionary government has always had pro-investment and pro-business policies and has encouraged foreign investment. However, if you're planning to register a new business in Dubai, expect some legal and bureaucratic hurdles along the way.
For start-up entrepreneurs, having a local sponsor/agent is a legal Dubai Economic Department (DED) requirement. Finding the right sponsorship/agent for your company is one of the core issues to start your business in Dubai.
Sponsorship takes charge of all the legalities and liaises with the relevant government branch, associated with your start-up. It includes planning, filling up application forms, processing requirements, finalizing legal documents, and more.
Hiring a sponsor/agent will cost you money, but it's worth every dollar. If it's your first time to set up a business in Dubai, it's best to have an expert take care of it to save both time and money.
Understand restrictions. Dubai is strict when it comes to company registration, especially with the legal requirements involved. If you have a sponsor/agent, it makes the process easier. With their help, you can instantly determine what you need, and how much you need to maximize your operation.
Finding a sponsor. Foreign investors should find a company/individual with good experience and reputation to act as their sponsor. If you want a competitive edge, pick a sponsor/agent with affiliate and contacts in the local business group.
Research and planning. It's not recommended to go into the process blindly. The ideal action is to plan and research every opportunity for a higher probability of success. Learn all about the legal requirements involved, and ask your sponsor/agent for any clarification.
Hiring a Sponsor/Agent for your Business
Other than the free zone, local sponsorship is required in order to commence a business anywhere in Dubai. It is very important to appoint professional advisors who understand its legal framework and economic contexts.
The type of sponsor/agent you choose can make a big difference. It can give you financial benefits, quotas, and access to important government offices. The right sponsorship is also useful in getting new licenses, maximum visas, permits, and more.
Austria Business Center - Your one-stop-shop in Dubai
Let Austria Business Center take care of your start-up, so you can focus on your business. With their help, you can get valuable insights into the common pitfalls of start-ups. You can avoid queues, government bureaucracy, and be evolving rules and regulations.
Austria Business Center has extensive local contacts and can provide you with instant, effortless sponsorship under our own trusted sponsors/agents. All you need to do is sit back, and wait for them to deliver the final paperwork.
Make your business set up in Dubai successful and find a sponsor/agent with a verifiable track record - Austria Business Center can help.
WHY COWORKING SPACES ARE HERE TO STAY
Given the intense interest in startups these day, more and more young entrepreneurs are looking to coworking facilities to grab relatively inexpensive office space. In addition to WiFi, fax, conference rooms, kitchen and snack-prep areas; these ‘rental’ business studios also offer new companies the opportunity to rub elbows with others in their world. The coworking space industry has seen growth in recent years and that swell is only going to continue.
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