The article is devoted to Business In Dubai With A Vision. Even though the Dubai economy has been affected by the global economic crisis happened in 2009, it is on the process of recovery and it still remains one of the most important business spots in the whole world. For many Dubai has been a dream place for starting a new business venture.
It is not that easy and simple if a person wants to start business in Dubai because there are lots of risks involved in starting a business in Dubai. It is complex for a person starting a new business in this huge city. It’s always good to have local knowledge from the initial stage and having an experienced lawyer to help in situations where one needs advice is always an advantage for one doing business in Dubai.
Gathering local knowledge is the first and foremost task that should be done before jumping deep with a business idea. Such knowledge can bring success easily in the business that is being done. An industry of interest should be chosen to work with and there should be a clear cut business plan which must be laid down so that all kinds of risks can be forecasted along with changing market conditions.
The business should have good investors to keep it steady and according to the law in Dubai there should be a business partner holding a major part of the share from Dubai itself or one can say a local partner. The partner who can control the business can be an organization or an individual.
The initial financial investments which are intended to start the business are not necessarily contributed by the partner. A person needs to register his/her business in Dubai in order to run it without trouble. After registering the organization the owner should show the capability of investing to the Ministry of Commerce in UAE.
The initial amount that a person should posses for starting a business is somewhere in between the range of $10,000 and $50,000. This amount is shown as a guarantee to be provided against the possible liabilities that can come for the business organization. The amount can be withdrawn once the proof for the amount is shown to the concerned authorities.
The local government gives full support to budding business ventures and the industry that the government supports the most is the export industry as well as the manufacturing industry. If a person doesn’t want to take risk starting a new business on his own, there is an option for buying a business which will be kept for sale.
This process is much simpler and easier than starting a business from scratch. There is no need to have excess capital or any kind of sponsorship as the only two processes involved in this form of acquiring a business is to agree on a particular price for buying the business and also for completing the paper work involved in transferring business ownership. The main thing that should be kept in mind when doing business is in Dubai is that locals are experts in bargaining and one should be able to tackle them and move ahead in business.