Dubai has been known for its growing business and astronomical advancements. This is possible due to its efficient licensing rules, banking infrastructures, regulations and ease of work.
If you are an immigrant and wishing to start a new business in Dubai, you should be familiar with various business and banking rules regulations of Dubai. In case you are not aware of these laws you can seek the assistance of lawyers and legal counsel in UAE.
According to research for “World Bank’s Ease of Doing Business” the United Arab Emirates has been considered as the easiest place to start a new business. There are some of the basic and essential rules to be undertaken in order to start a new business in Dubai:
If you are an expat and thinking of opening a small business in UAE, the laws and regulations state that you should have around 2 or 50 people maximum. The primary goal to regulate this law is that a limited company may have the freedom to get involved in a lawful activity, so the company will not include insurance, banking, and investments.
When it comes to the establishment of two mutual enterprises between the foreign and local party in UAE, the law states that local party should hold 51% ownership.
If you want a strategic partnership, there are many business advisers and banking lawyers in Dubai, they can advise on financing, property, structuring and outlining for business. The mutual partnership can be beneficial if you have a specific project or technology to work on.
For procuring the license for your company you need to be approved by the economics department. Then your company will be certainly registered with Dubai Chamber of Industry. But your company name will be approved by the Economic Department and authorizing committee. For more advice and tips check this link here and find the great legal advisers and lawyers in Dubai.