Why Choose an Office Space in the UAE?
As one of the world’s fastest growing economy, United Arab Emirates has become a thriving center for global business in just a few decades and business setup, Dubai has become number 1 in the region. It is now transformed into a smart option for businesses and investors alike with an outstanding range of offices to work, especially in a business center in Dubai.
The UAE’s location is of deliberate importance to any business, as it benefits from the central time zone that is considerate to both east and west working hours. In line with this, the UAE, and most specifically Dubai, has turn out to be the preferred location for the region’s imports and exports which encourage individual in setting up a business in Dubai.
The Average Cost of Renting Office in The UAE
The expenses to be considered in renting an office generally depend on your chosen location, as well as the objective and legal forms of your future company.
Outside of the free-zone area, you will get office space rent for around 65-80AED per Sq feet. There will also be some additional sponsorship fee and other charges from the authorities, plus the trade license fee.
So if you are thinking of a company set up in Dubai and planning to rent an office space, the cost is around 160aed per square foot or roughly about 239,673AED annually. That’s just about one-quarter of the average annual office rent in Hong Kong, the world’s most expensive city to rent an office and cheaper compare to the office rental cost in some Asian countries such as Beijing, Mumbai, and Singapore.
Alternatively, if you opt to get an office space inside the free zone area, for instance in Dubai Technology & Media, expect to find the smallest office at 700Sq feet in size. The license generally cost a minimum of 15,000AED annually, and it could go up, depending on the activities you would want to include in the license. In a free zone area, there will be no sponsorship fee, but there is a required insurance for office, workman compensation etc.
However, based on the recent JLL report, the cost rental of office spaces could come under pressure. It is because of the decreasing volume and value of retail sales. Thus, landlords are starting to revise their contracts and offer more flexible deals for them to retain their tenants, including serviced offices, Dubai.
Freezone Vs. Non-Free Zone Area
Technically, a free zone area gives you 100% foreign ownership of your company and completely controls your business. It also gives you a repatriation of capital and profits, a transfer of fund, easy recruitment procedures, and an easier process of setting up a company than outside of the free zones.
On the other hand, a non-free zone area, a local (Department of Economic Development) will give you license to freely operate anywhere in the UAE, but a 100% foreign ownership is not allowed, a 51% local partner is required. Also, local labor laws will apply when it comes to hiring expatriates.
If you’re looking for an office space for your Dubai business setup, ABC can surely help. Austria Business Center is one of the trusted office space providers in the UAE because of its reputation in providing excellent office solutions with top quality services and facilities. Whether you are looking for a co-working space or a serviced offices Dubai, they can surely help.
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