6 Facts Vs.Myths Regarding Setting Up A Business In Dubai

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6 FACTS VS.MYTHS REGARDING SETTING UP A BUSINESS
IN DUBAI
The UAE and Dubai are known as a vast business
hub for many industries like trade, logistics,
banking, tourism, real estate, and manufacturing,
and deliver amazing opportunities. To get
benefits, many entrepreneurs choose Dubai to
establish new businesses. So we can surely say
that Dubai is home to countless companies and
startups. So if you are thinking of setting up a
business a new enterprise in Dubai, then it is
vital to know some facts about start business in
Dubai. Because many myths exist about new
business setup and running any company in this
dynamic city. To clear out these myths, Future
Dream, having years of experience, delivers
complete information related to these myths.
Continue reading to debunk myths and uncover
facts about Business Setup In Dubai, putting an
end to any confusion once and for all.
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MYTHS ABOUT BUSINESS IN DUBAI
MYTH THE COST OF DOING BUSINESS IN THE UAE IS
HIGH-
Fact- Business entrepreneurs can establish a
company that they want all over the world with a
certain amount of funding. Business formation
costs vary from one country to another. However,
launching a business in Dubai is more
cost-effective compared to many European
countries. In other countries, you need to pay
many taxes like prominent jurisdictions, capital
gains tax, dividend tax, etc. But if you settle a
business in Dubai then you are not required to
pay these taxes. Yet, In the UAE, a 9 corporate
tax was put in effect beginning June 2023. So it
is clear that establishing a business in Dubai is
lower compared to other countries.
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MYTH YOU NEED TO PARTNER WITH A LOCAL UAE
NATIONAL TO DO BUSINESS IN THE UAE-
Fact- About the procedure of setting up a
business in Dubai, this is one of the biggest
myths. In Dubai, Free Zone and Mainland both
allow 100 foreign ownership and do not need a
citizen of the UAE to work as a local sponsor,
become a shareholder, partake in the operation,
or invest in your UAE company. Foreign investors
now have the opportunity to fully own and manage
a mainland corporation, subject to specific
commercial license activities. For instance,
Mainland Dubai allowed Real Estate brokerage
firms to set up with 100 foreign ownership.
While certain business activities in mainland
UAE may necessitate a local sponsor, our team of
expert consultants stands ready to assist you in
navigating this process or exploring alternative
options.
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MYTH REGISTERING A COMPANY IN THE DUBAI TAKES
TIME-
Fact- In Dubai and UAE, establishing an
enterprise should be fast and does not take a
long time, with the help of any registered
corporate service provider like Future Dream that
will ensure you have all the crucial documents in
place, choose the right structure and is an
expert to seamless navigate the whole procedure,
so you can focus on working on your enterprise.
In the UAE, many licensing authorities issue a
company license within one week. If additional
governmental clearances are necessary for your
companys business activity or premises, this may
extend the company formation process by days or
even weeks.
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Myth Female Entrepreneurs Find Dubai Unfriendly-
Fact- In Dubai, the environment for female
entrepreneurs is very safe and supportive. In the
Middle East, Dubai becoming one of the most
active business hubs for women looking to secure
investment and establish their own business in
Dubai, women can work as leaders and gain success
in doing enterprise, because of the safe and
supportive environment of Dubai. We can
transparently see evidence of the commitment and
dedication of Dubai toward gender equality. It is
also a prime reason why you should select Dubai
over any other country to setting up a business
as a foreign investor.
Myth The Laws are Strict
The laws are strict in Dubai? Yes, this is
correct. In the UAE, the laws are somewhat tough
to follow. Especially for the new entrepreneurs.
But these strict laws are conducted to ensure
people doing their enterprise in the best
possible way, creating a victory situation for
the enterprise owners
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Myth Having an Offshore Business is illegal
Fact- In Dubai, anyone can have an offshore
business. Also, offshore firms are expanding with
time. Offshore banking has historically been
associated with criminal activities such as tax
evasion and money laundering. In the UAE,
Offshore business operations are considered a
smart move because now all entrepreneurs can
handle operations remotely and gain amazing tax
advantages.
So these are prime myths about setting up a
business in Dubai. The city presents an
exhilarating opportunity for entrepreneurs and
businesses alike. With useful planning, you can
smoothly set up business here and take benefit of
all this amazing city delivers. As an established
company in Dubai, we at Future Dream, have vast
experience and assist businesses set up and
conducted successfully in the UAE.
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CONTACT US
971 524093924
futuredream.ae
info_at_futuredream.ae
Office 401, 4th floor, Addidas Outlet Store, Bank
Street Road Burjuman, Dubai, UAE