Things to consider before launching a business in the UAE

Things to consider before launching a business in the UAE

For any entrepreneur, that perfect business idea might come easily, but there are many things to consider before diving in head first. Visa options, customs laws, and corporate taxation are all necessary considerations if you want to get that business in the UAE on the right track from the outset. “The UAE, commonly known as the Land of Expats, attracts multicultural expertise and experience in the field of business,” says Steven Charles Wilson, Business Consultant, Axiom Mark. “The recent changes in company formation have knock-on-effects, namely 100 per cent ownership; remote licence set-up that allows entrepreneurs to obtain a licence in the UAE without being physically present, and remote bank account opening; and an instant licence wherein entrepreneurs can obtain their business licence without any physical space. In our view, the shift to 100 per cent ownership has the most impact as it widens the options for businesses.” The fact that expatriates can now own 100 per cent of their business has undoubtedly attracted entrepreneurs in their droves. However, with so many lucrative UAE opportunities, knowing which options to choose can be challenging. In fact, Mohammad Sheikh Azharuddin, Co-founder and CFO at Black Swan Business Setup Services, says that the