Becoming an entrepreneur also means getting to understand what areas of investment to focus your effort in. It begins with securing an adequate business license which is required to do business in any jurisdiction in the UAE.
It is important to get this first step right – choosing what you are passionate about and securing the right license to enable you to operate legally. A mistake with the wrong type of license may set in long term frustration in many aspects. You not only waste time and efforts but increase the cost of doing business because you might need to restructure or do a business with limited tools and limited market.
By choosing the right structure, your saved capital can be utilized for marketing and branding strategies which are breathing tools for every business.
So what are those questions a business owner should be asking themselves prior to establishing a structure in the UAE? These questions may also be very important before securing a license or engaging a consultant to facilitate a business setup.
- Who is my target audience or target market?
- Do I require office space to operate and how much space do I need for a start?
- Do I want full ownership of my company or a partnership?
- Do I need a company in a free zone jurisdiction or in mainland local market?
- Will my operations focus in the UAE market only or will I operate internationally?
- Will I need just a company with a bank account for international operations?
- Will I be hiring employees or outsourcing them, and how many do I need?
- Will I need a UAE residence visas for myself and my staff?
- Will I be setting up as a branch office or a totally new start-up structure?
- What is my financial capacity?
- Do I have the right tools to build a solid business foundation?
It is important to get the answers to the above questions right. There are many other questions that a business owner might have to consider.
This is where a good business consultant comes in to ensure you are setting up the right business, in the right location and within the right budget to enable you to kick start a promising business venture in the UAE and beyond.
Even after getting these questions clear on your mind, other company setup complexities may surface. For example, the hassles of obtaining an office space either alone or in a shared business centre for your operations.
When all these questions are answered, you can be sure that your business setup experience in the UAE will almost be guaranteed an effortless process. The UAE offers many different company structures and variations of business activities and some licenses and activities might require you to secure a UAE local sponsor as a sleeping or active partner in the company.
However, as with all things in life, proper research and planning will ensure that the step you take is one that will lead to a promising future. We sure can recommend a brand that can help you out with your market research and the set-up process. Check them out today at
Article by Jacqueline Anoruewhom