The following article contains some Information On Business Opportunities In Dubai. You don’t have to be an accomplished sniffer dog to unearth the fact that Dubai has great potential for business opportunities. The mere utterance of the word “Dubai” intoxicates your mind with the aroma of making it big. Dubai, a financial hub of the Middle-East is a land with plenty of resources.
With the presence of its exceptional infrastructure it makes sense for individuals to start a business to significantly maximize profits. The efficiency of the transport facilities is incomparable and helps a great deal. Although setting up a business in Dubai is not a very smooth process, once it’s established you can expect high profits.
The government of Dubai makes it mandatory for individuals to have a local partner to help them set their business. In order to avoid the hiccups involved in starting or setting up a business individuals rather prefer to buy an already existing business that is up for sale.
Although a business in a free zone does not require a ‘sponsor’ the nature of the business needs to be exceptionally large which involves a huge capital. If you decide to venture into a small business in the free zone area, keep in mind that you will require a large amount of capital to invest which can drain you of your savings.
It is always a good idea to study the place of business, the people, and the surroundings in order to help you help you implement your business plans. The language commonly spoken is Arabic; hence knowledge of a language commonly spoken by the locals helps you maintain a better relationship with the people.
It is mandatory for you to have a license to start a business in Dubai. The nature of the business dictates the type of license issued to you. The three types of licenses issued are Industrial, Professional and Commercial. Since it is mandatory to have a local partner that has a 51% stake in the business you plan to set up, it is always important to choose or arrange for a ‘sponsor’ who is well equipped financially and has excellent connections.
A respected local is always a great to have as a ‘sponsor’ as he ensures that delays are avoided in starting a business. Once your business is registered, the Ministry of Commerce will require you to show proof of significant holdings in terms of financial resources. The amount you possess acts as a guarantee against liabilities.
As the law of the land isn’t too stringent compared to governing laws in other parts of the world, most enterprising entrepreneurs and individuals prefer Dubai to set up their business or trade. Moreover the exemption of taxes on various products and low excise duty is enough to invite individuals and business houses to set up their import export and manufacturing trade in Dubai.
It is necessary to procure a resident visa and find a place in close proximity to your business establishment. Always keep a sufficient amount of money deposited in one of the banks in the area of your business. Dubai has plenty of business opportunities in store for young enterprising individuals. All it takes is a keen business sense to make it big.