Dubai is a strategic hub for global commerce that welcomes all types of business from around the world. With its strategic location, excellent infrastructure and liberal business policies, it creates a favorable atmosphere for startups and enterprises to invest and create business outposts in the region. While setting up a company in Dubai, early stages can demand high capital most newly established companies find difficult to secure. Expenses involve visas fees, company registration fees, lawyers, work space and other legal paperwork that only professionals can handle. Startups with limited budgets and deadlines must keep their costs in check to make sure overheads can be balanced later on with business profits.
Here are four useful tips for startups to overcome cost factor when setting up a company in Dubai
Choosing Between Jurisdictions
There are three major jurisdictions in UAE, Offshore, Free zone and Mainland (Limited Liability Company - LLC). UAE LLC company formation is one of the preferred vehicles for business setup in Dubai as it provides the flexibility to operate across UAE, but limits the ownership of the expat to 49%.By acquiring Dubai mainland company license, the business can run its operations freely in UAE from any business center in Dubai. Offshore company setups are limited to unique purposes while registering under a free zone gives 100% ownership, it also restricts its operations within the free zone and outside UAE.
Getting a serviced office space in Dubai is the best means to secure a working space without being overburdened with extensive leasing agreements and peripheral costs. Businesses can rent a work space on a day-to-day basis and start their operations from day 1. Serviced offices in Dubai are pre-equipped with all work requirements and even include added services such as refreshments, IT support, secretarial services and state of the art meeting/conference rooms.
Location plays a deciding role for businesses looking to gain a foothold in the fast paced landscape of Dubai. A strategic location connects the business with commercial zones that offer the right fit and accommodation for the business to grow. It also opens traffic access, parking, food, meeting rooms and recreational facilities which can save expenses on traveling and outsourcing services.
Hire a Professional Agency
Hiring a professional agency can solve many problems in one simple package. Company setup agencies offer A-Z business formation solutions that comprehensively incorporate every step of the process from its infancy to its operational stage. Business setup consultancies in Dubai offer competitive packages from startups to enterprise level businesses with tailored options. This not only reduces eminent costs on several ends but also helps the business to focus on its strategies while the consultancy does all the work.
How Can Ascendris Help
Ascendris Business Center located in Business Bay, one of the premium business district of UAE, offers complete solutions for its clients including virtual offices, sophisticated fully furnished office spaces and world-class meeting and conference rooms. Ascendris is a one stop shop for clients looking for complete business solutions through professional tie-ups across Dubai with multiple firms including IBG Consulting which is a leading business setup consultancy in UAE.