Estimating the Business Set-up Costs in Dubai

1. Estimating the Business Set-up Costs in Dubai When establishing a business, the elementary step is to determine the preliminary cost of the entire setup. Talking of Dubai and the other Emirates of the UAE, their tax-free nature is more than appealing to investors the world over. If you too are contemplating building or expanding your business in Dubai, you must consider the various costs it entails, specifically in issuing a trade license. If your aim is to launch a venture in Dubai’s free zones, keep in mind the fact that every free zone has its own start-up procedures and costs. As a business owner, there is a minimum prerequisite of capital investment that you must possess in order to establish the company in the free zone. Another significant cost of setting up a business in Dubai free zone is sponsoring employees for the business. This includes the provision of suitable visas and completion of paperwork for your employees in order to allow them to live in Dubai. The Costs of Establishing a Business in Dubai For those you have made up their mind to set up a business in Dubai, it becomes obligatory to apply for a Dubai business visa and bear the costs incurred. If you are going to open a limited liability company (LLC), you are not bound by the condition of minimum share capital. However, the investors who are keen to harness the potential of the free trade zones in Dubai must understand that though they will have complete ownership of their company but they will have to considerthe substantial cost associated with the business start-up process in the city. No need to sulk or let your spirits weigh down as there are no taxes on profits of companies established in Dubai, with the corporate tax exemption that lasts for about 50 years. Expenditure on Permits and Licenses Dubai is a sanctuary for investors who are looking for expansion of their business. That said, establishing a flourishing business doesn’t come cheap as obtaining the company’s permissible legal documents, the business licenses and other registration procedures will be subject to various costs. Additionally, every business license or permit must be renewed once every year, for which you will again have to bear the expenses. Going further, you will need to lease office space for your start-up and hustle up the insurance, and the equipment and all this is also going to cost you some pretty penny. Factors to consider when settingup a Business in Dubai No business can be established without a few fundamentals like a bank account for various cash transactions.It is advisable for you to track down the prestigious banks in Dubai and enquire about the charges for their services. For an entrepreneur, it is imperative to draw up a thorough assessment and solicit information about all costs involved in establishing a new business in Dubai. You can also leverage the services of an experienced Business Consultant for an accurate analysis of the costs involved in setting up a company or company liquidation in Dubai.