Over time, Dubai has managed to become the world’s business hub. With top of the line facilities available for both local and foreign businesses, it’s no wonder why business owners are so interested in establishing themselves in this Emirate. With the passage of time, Dubai has become politically stable and a number of friendly business regulations have also been initiated by the government. On top of it all, Dubai happens to be a multi-cultural city, which means your business will have exposure amongst people of various backgrounds. But while you are at it, your success will also depend on your understanding of the culture of Dubai, so make sure that you pay due attention to it too.
In order to begin with your Dubai Silicon Oasis company setup, there are certain regulations that need to be followed. To begin with, it is necessary by the Federal Law that any foreigner that establishes a business will take on a local sponsor to get their business registered. There is simply no way for a foreigner to establish his business in Dubai without a local sponsor. While this may sound like nothing to you, the fact is that this local sponsor is required by law to hold an equity of 51% in any commercial business.
If truth be told, there are multiple economic jurisdictions for you to choose from when establishing your business in Dubai. The three main categories from which you can pick your jurisdiction as per the type of business that you have are Mainland, Free Zones and Offshore. Apart from that, before you even enter Dubai, it is necessary for you to have a sponsor ready at hand. The thing is that the sponsor will take complete responsibility of you and your business. If you wish to setup your business in the mainland, a local resident of the UAE has to be your sponsor. However, for professional services, it is possible for you to take on a service agent as a sponsor. There’s good news for those who are interested in setting up their companies in the free zone as there is no need of a sponsor in this case.
Once you have decided the jurisdiction, it is necessary for you to acquire a valid license that is basically issued by the administrative authority. The department that will do so is known as Dubai Economic Development (DED). Look at this site to acquire information about the multiple licenses that you will need to have issued to establish and run your business in Dubai.