Dubai is one of the fastest-growing regions in the world as a business hub. The reasons a many. From having a world-class infrastructure to business-friendly policies, most investors and entrepreneurs find it easy and comfortable to set up their businesses in the Emirates.
Even though the overall ecosystem for setting up a business in Dubai is quite friendly, there are different legal, administrative, and financial implications that one needs to take care of. Things can get pretty complex when entrepreneurs try to cover this landscape on their own. Having an expert business setup consultant in Dubai can be a big help.
This guide will cover the landscape of setting up a business in Dubai in detail.
Is It a Good Idea to Hire Business Setup Consultants in Dubai?
Yes, it is a smart move because business setup consultants are well-versed in the nuances of the entire process in Dubai. They will guide you, assist you, and work on your behalf to make the process faster, simpler, and cost-effective.
These are the reasons why entrepreneurs and investors rely on a seasoned consultant for setting up their business –
- Thorough Knowledge of Local Laws and Regulations
Business setup consultants are well aware of the different sets of local rules applicable in different business zones in Dubai. For example, the rules differ from Free Zone to Mainland to Offshore areas. Their knowledge helps your business stay compliant with the laws from the onset.
- Saving Time and Cost
Business consultants will help you in a manner that the otherwise time-consuming process is completed faster and seamlessly. Since they are well-versed in the process, they will help avoid unnecessary expenses.
- Business Solutions Tailored for Your Business
The right consultant will first understand the specific needs of your business. They will get acquainted with the business model, target market, and industry and then accordingly suggest the best way forward, related to business type, jurisdiction, and licensing options.
- Comprehensive Support
Consultants do not just help you with setting up the business. They help you with preparatory work and documentation for establishing the business. They also support you post-setup with other related activities like helping open a corporate bank account, visa processing, immigration assistance, etc.
Key Services Offered by Dubai Business Setup Consultants
Consultants in Dubai offer a range of services while helping establish a business. This includes –
- Carrying out Business Feasibility Studies to assess if your business idea is viable or not, especially considering the competitiveness in the local and international market.
- Offer licensing support and assistance
- Ensure compliance with the legal framework in the region, especially in documentation-related work for company registration.
- Assist with finalizing cost-effective office space solutions, be it a physical office or a virtual office space.
- Other services include assistance with opening a bank account, visa and immigration services, etc.
How to Choose the Right Business Setup Consultant?
Since the consultants work on your behalf in establishing your business entity in Dubai in the least possible time and cost-effectively, they must be selected after due consideration of a few factors.
These factors include –
- Experience and Expertise
Check out the specific experience and expertise of the consultant. The team should be qualified and trained to offer solutions and services to entrepreneurs looking to set up their businesses in Dubai. They should also have the experience because seasoned professionals will have a deeper understanding of the business ecosystem of the emirate. They will be well-acquainted with the regulatory framework and also be abreast with the industry-specific requirements.
What you need to look for specifically in the proven track record of the consultants, especially for businesses like yours. It could be a start-up, Small and Medium Enterprises, or established corporations. Focus on industry-specific know-how as it indicates that they are clear about the nuances of your sector.
- Transparency in Pricing
One of the biggest giveaways of an incompetent consultant is when they start adding hidden costs to their fees. Thatโs not how a trusted consultant will work. They will offer a detailed breakdown of the costs and charges. Everything from service fees to government fees – all will be a part of the pricing. You should avoid last-minute surprises at all costs because this can affect your budget.
- End-to-End Services
Business setup consultants in Dubai will help you all along the way. Thatโs because setting up a business is not a single-step process. It involves multiple steps. Expert consultants will offer you support at every step. This includes documentation, procuring trade licenses, visa applications, opening a corporate bank account, and more. They work as your one-stop solution provider. This means reduced stress and a streamlined process. Some of the consultants will also support with value-added services like accountancy, bookkeeping, legal compliance, etc.
- Customer Reviews and Testimonials
Read through the online reviews and testimonials to understand the reputation of the consultants. You can also look for additional digital resources on their website and social media. This can include case studies, blogs, articles, etc. These are excellent indicators of understanding the credibility and reliability of the consultant. Check if the consultants can give reference numbers of their past clients. You can then check with these clients about their experiences and also gain information about their professionalism, promptness, communication, and more.
- Local Knowledge and Connections
Your first preference should be consultants who have a strong and sound network with government bodies in Dubai and Free Zone authorities. When the relationships are strong, they can help expedite the process. There will be distinct advantages. For example, there could be faster approvals, getting quicker access to inside information, especially about updates in rules and regulations.
Advantages of Hiring Business Setup Consultants
Consultants can help you set up the business faster, and save time with their expertise in handling the complexity of the landscape. The chances of errors are reduced phenomenally. This can help avoid costly mistakes. They will offer strategic advice from their experience of the business structure and licensing options. All in all, their role is to reduce your stress, leaving you enough time to focus on your business.
Dubai is a happening place with plenty of opportunities for businesses. However, setting up a business may take time and involve lengthy documentation. A business setup consultant can make the process hassle-free and stress-free for entrepreneurs, established corporations, and investors.
