Most aspiring entrepreneurs think that a sound business plan and strong investment are the most important prerequisites for completing the process of business setup in Dubai without any hassle. Even though these two factors are critical, many other factors warrant the assistance of experts. For instance, foreign investors may go wrong while making the strategic decision of whether to start their business in the mainland or free zone. This is where the services of business setup consultants in Dubai become indispensable for foreign entrepreneurs.
Apart from a robust business plan, entrepreneurs need to understand the nuances of UAE laws and regulatory requirements. The investors should have sound knowledge about the licensing authorities, requirements for company formation, labour laws including visa processing and regulations such as VAT, Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO), Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) etc. It is practically impossible for a new entrepreneur to know about such complex laws and requirements. However, seeking the assistance of business setup consultants in Dubai is the easiest way to simplify the company incorporation process.
Role of Business Setup Consultants in Dubai
The best business setup consultants in Dubai can provide the investors with the right answer to the key questions such as where to set up a business how to set up a business etc. Investors only need to provide the business setup consultants with a business plan and details about the business activity they are going to conduct.
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The consultants then would give efficient advice on whether to go for business setup in Dubai mainland, free zone or start an offshore company. The company setup advisers are well-versed in the UAE business regulations and offer robust advisory on the selection of business activities, documentation, and other regulatory requirements.
Many entrepreneurs often display a tendency to overlook the importance of hiring the best business setup consultants in Dubai as most of the free zones advertise a smooth business setup procedure. Reading blogs about the process of business setup in Dubai mainland also gives the impression that the process is a piece of cake. However, the entrepreneurs couldn’t afford to take the company formation process for granted and go solo for setting up their business. What is seen on the public platforms is only the tip of the iceberg and there may be requirements that need expert assistance or sometimes hidden costs may be involved. By hiring efficient business setup consultants in Dubai the investors can eliminate the possibility of such risks.
Key Services Offered by Business Setup Consultants in Dubai
Assistance for Business Setup in Dubai Mainland
Dubai mainland is one of the most sought-after business options for foreigners as it enables investors to trade anywhere in the lucrative UAE market. The process of business up in Dubai mainland involves many steps and procedures compared to the free zone and offshore. The Department of Economic Development (DED) in respective emirates is the competent authority that issues the license for setting up a business in the mainland.
The Limited Liability Company (LLC) formation in Dubai is the most popular business setup choice of investors. Business setup experts in Dubai provide recommendations on LLC company registration, the process of license issuance, and how to obtain ministry approval for special activities such as audit, legal services, engineering, banking services, oil & gas etc.
Assistance for Business Setup in Dubai Free Zones
The process of business setup in Dubai free zones is rather quick and cost-effective compared to the mainland, making it a preferred choice amongst investors who wish to conduct the business internationally. While initiating a free zone company registration in Dubai, the investors should know the limitations and benefits. The investors are not allowed to trade outside the free zone premises while setting up a company in the free zones.
Business activities are restricted to within the free zones or else the investors can trade internally, such as imports or re-export. Company formation specialists can assist the entrepreneurs in setting up a business in the Dubai free zones with proper documentation and also help them to choose the right free zone from a list of 30 plus free zones in the emirate.
Helping with Offshore Company Formation in UAE
The business setup consultants in UAE act as registered agents for the offshore companies in the UAE. There are mainly three offshore jurisdictions in the UAE, JAFZA offshore, Ajman Offshore, and RAK ICC Offshore. The offshore companies are not allowed to conduct any business inside the UAE but can invest in freehold real estate properties. Investors can use the office space of the registered agents to meet the physical address requirement set out by respective offshore authorities. Business setup consultants in Dubai also function as the responsible manager for offshore companies.
Offering PRO Services in Dubai
Setting up a business in Dubai involves constant dealings with government officials. The entrepreneurs often lack the time and knowledge in local regulations to effectively negotiate the paperwork. Most business setup consultants in Dubai provide highly efficient PRO services in Dubai to effectively execute processes such as
- Applying for a Trade License and renewal of the same on time
- Processing documents related to departments of Immigration and Labour
- Services related to company Immigration Card and Labour Card
- Filing for new visas of Company owner, director, employees, managing partner, family and renewal of the same
- Attestation of important documents through a public notary
- Filing applications and documents for government approvals
- Applying for commercial and residential tenancy contract
- Facilitating translation of documents into Arabic as required by the licensing body or government departments
- Advice on UAE Golden Visa, Green Visa, Retirement Visa etc.
Providing Company Liquidation Services in Dubai
Investors may decide to wind up their companies in Dubai for a wide range of reasons including debt, financial stress, change in market conditions, loss, low demand for products in the target market, achieving business objectives etc. In such situations, business owners can opt for voluntary company liquidation in Dubai. Company liquidation is considered the best exit strategy for businesses and business setup consultants in Dubai can help the investors to complete it easily.
Assisting Investors to Comply with Regulations
The UAE government is committed to streamlining its laws to comply with global standards and the best practices mandated by economic organisations such as the UN, OECD, FATF etc. In line with this commitment, the UAE has introduced regulations such as ESR, UBO, and AML-CFT. Mainland, offshore and free zone companies across the UAE must assess their compliance requirements with this regulation for which business setup consultants in Dubai offer assistance. Company formation experts in Dubai can help the investors with services such as creating and maintenance of UBO registers, filing ESR notifications, submission of ESR reports, providing AML training etc.
Hire the Best Business Setup Consultants in Dubai, UAE
The process of business in Dubai is a strategic decision for foreign entrepreneurs as there are mainly three options to choose from: free zone, mainland, and offshore. Each of these options varies in the regulations, benefits, and restrictions on business activities and licensing procedures. While the mainland provides unlimited access to the UAE market, the free zones are only allowed to trade outside the UAE. The choice of the right jurisdiction is a tough task, and this is where the services of reputed business setup consultants in Dubai come in handy for the investors.
Jitendra Business Consultants (JBC) is a revered name among the business setup services in Dubai and has years of experience in helping thousands of clients to set up a company in Dubai, UAE. The major companies and entrepreneurs in Dubai have experienced exemplary end-to-end business setup solutions provided by JBC such as company registration, company liquidation, PRO services, visa processing, drafting of MoA and other documents, etc. JBC is committed to ensuring that the companies comply with regulations such as ESR, UBO, and AML-CFT and provide excellent services in connection with such requirements. By choosing JBC’s business setup services in Dubai, the entrepreneurs can ensure robust business growth prospects in a highly competitive landscape.