The Dubai government has always encouraged new and upcoming entrepreneurs to come and set up their businesses here. This has not only helped tourism in Dubai but also improved their economy by ten-folds. While the majority of entrepreneurs were sceptical about such a proposal back in the day, now is the perfect time to set your business up here.
However, if you are planning to set up shop in a foreign country, there are quite a few things that you need to get accustomed to. While this may sound easy, it can be quite time-consuming and confusing. If you find yourself in such a scenario, instead of taking a step back, read this article. In this article you will find a few points mentioning the common mistakes you should avoid while setting up your business here.
Do Not Register Your Company In The Free Zone Without A Look At The Preconditions:
This is perhaps one of the most common mistakes entrepreneurs make here. Since a free zone has simpler and more lenient regulations and laws, entrepreneurs easily get attracted to register company there.
A start up will always look for the cheapest office options available in the area, and although published information might show you a lot of options, usually the availability keeps changing. It might so happen that when you actually go for the registration, you can only find a few sizws available.
This might just alter your budget. This is why you should always make sure to check all aspects of your investment before moving forward with the registration process.
Do No Select A License Category Before Deciding On A Business Model:
Another point you must avoid while setting up your business in Dubai is confirm your license category to the business model you are following. A business model will always have to change and adapt at some point in the company’s growth, especially in Dubai. Even though you might not have to change the whole model, you might have to make a few tweaks.
This is why you should always keep your options open, especially when choosing a license category. Make sure that all the business activities that might take place under your business model are covered by the license category you are choosing. Refrain from choosing a license category that might be too narrow.
Mentioned above are some of the most common mistakes entrepreneurs in Dubai make, and you should avoid at all costs. This will further make developing the business a lot easier and effective. However, these are only two of the many things you should be careful of. This is why having a professional company helping you with all of this is a good decision.
The best way to ensure that you permit low-cost business setup in Dubai is to choose a company that is capable and has relevant experience in the industry. With their expertise and guidance, you will surely make the most of your investment.