Starting a business in Dubai free zone is different to start a business in any other place. This is because the procedure includes a number of rules and regulations that the organizations needs to abide by in order to enjoy the benefits. If you are thinking of opening a company in this free zone, it is important for you to be familiar with the following details.
The license type
First of all, you need to figure out what kind of license you require for your organization. This mainly depends on the kind of business activities that your plan to undertake, for example, trading organizations usually get the general trading license and organizations such as law firms and security consultancy agencies get the consultancy license. You can also get either the industrial and commercial licenses depending on your business needs.
Confirm the activities
When it comes to offshore company formation, it is important note that not all zones allow all kinds of business activities. In certain zones, only a certain types of business activities – usually the highly profitable ones – are allowed and the rest are restricted. In addition, in certain places there are restrictions regarding the number of business activities as well. As a result, you must do proper research on the available zones to ensure that you choose the right one.
Identify the legal structure of the organization
Remember that the rules and regulations imposed on your organization depends on the type of your organization. This is mainly determined through the legal structure of the business. The legal structure of an organization is determined by the number of partners and their shares. The documents required and the costs involved can also differ according to the nature of the legal structure. Therefore, you need to ensure that you figure out this structure before you apply for company formation in Dubai free zones.
Understand the facilities
Just for the reason that you are applying into a free zone does not mean that you will get everything for free. You need to figure out what exactly you get out of this membership. You cannot assume that it will offer you all types of business benefits. Look through the system and get to know what kind of perks you will be able to experience and see how useful they are for your business.
Taking these factors into consideration will enable you to know whether you are making a suitable business decision or not.