A successful company formation in UAE is not a tedious process. In fact, if you want to set up a business in UAE, you can do so in less than 24 hours. Lately, the United Arab Emirates has transformed into a powerhouse of the Middle East, –with booming trade and commercial avenues. Investors (onshore and offshore) are expressing great interest in setting up a business in the U.A.E.
Let’s throw some light on how you can be successful in capturing the local and international market by operating from the Emirates.
Diversity and Inclusion
One of the defining characteristics of the United Arab Emirates is its diversity and inclusion. The UAE embraces people from all backgrounds. The country has one of the largest populations of foreign nationals working here. The diversity of culture and tradition is truly staggering.
From a business perspective, you have mixed demographics that you can tap into, meaning that you can tailor your products and services to suit the needs of your consumers. So, before you embark on the formation of a new company setup in the UAE, do lots of research based on metrics, interests, and behaviors.
What’s The Nature Of Your Business?
Depending on the nature of your business, you need to formulate a business plan with your partners that outlines the first 5 years of your business. Usually, there is a lot of interest in setting up a business in Dubai; however, experts are predicting Ajman to lead the way in the near future for new company formation in the UAE, thanks to a myriad of natural and man-made features. Also, it is the most affordable of all the free zones operating in the Emirates.
Types of Trading Licenses In The UAE
Industrial License
As the name suggests, an industrial license in the UAE permits businesses to set up manufacturing and production plants. As a licensee, you can run an appliance and machinery factor, food mills, packaging, carpet manufacturing and timber work for furniture.
Professional License
Individuals who depend on their intellect and mental capacity are issued an industrial license. It covers lawyers, business consultants, marketers, private medical professionals, writers, freelancers and so forth.
Commercial License
The transportation license is issued to individuals looking to setup a business in UAE that is involved in supply chain, logistics management, rentals, real estate, etc.
Tourism License
A tourism license is obtained by an individual who wants to form a new tourism company in the United Arab Emirates. The scope of this license includes hotels, travel agencies, cruise rentals, tourist camps and so forth.
So, it all boils down to three factors:
- Research and strategy
- Getting a trade license and the NOCs
- Planning for the long term
As always, Emirates Express is your one-stop shop for successful company formation in UAE. Connect with us here and one of our representatives will call you.