Tips for a Cost-Effective Business Setup in Dubai
Company incorporation in Dubai and across the World and compliance with respective laws of every country is ever-changing. One cannot solely assume that he/she is aware of the regulatory landscape. Company formation in Dubai and procedures for company incorporation in Sharjah will not be same as Company incorporation in Sharjah. Especially with anti-money laundering and banking regulations becoming stricter in Asia and Europe, detailed and precise understanding of these statutes and procedures surrounding them becomes necessary. Business setup in Dubai, registering a business in Hong Kong for instance, and obtaining a business license in China are heavily regulated. Besides, opening up of bank accounts today involves several formalities. Likewise, a right understanding of shareholding structures, taxation, corporate governance, management rights and type of legal structures call for attention.
Talk to Known Advisors or Lawyers in UAE
Ensure that the lawyers in Dubai or consultants you are dealing with are aware of every information when dealing with company formation matters. Be sure that they liaise directly with governmental authorities and bodies to obtain necessary information. Most firms render free advice and offer cogent information which is useful, timely and beneficial. Full practice law firms can cover wider areas including corporate laws, trademark registration in Dubai, advice on corporate governance, commercial law, and other related matters.
Getting the Right Information
Company formation in the UAE, as a matter of fact, can be challenging given that the UAE offers several options to investors in deciding the type of entity they wish to choose. There are millions of websites claiming to provide company incorporation in the UAE, but the author urges investors to carry out a detailed check on businesses providing business formation services before making or arriving at any decision. A lot of information on these sites is outdated and at times incorrect.
The Growth of Financial Centers
With the expansion of new financial centers like Abu Dhabi Global Markets (the ADGM), Istanbul Financial Centre, and others, investors can buy peace of mind by avoiding stringent and complex central bank regulations. These financial centers allow investors to own 100% shares and further enable them to obtain a license in financial services activity.
Tracking New Regulations
The Companies Law in every jurisdiction gets updated on regular basis and companies house (or registrar of entities, commercial department or similar authority) issue directives and circulars on a daily basis. Keeping track and understanding the new regulations is extremely crucial for any business.
As you can see, there are some tips that you can use to ensure a cost-effective business setup in UAE. It is critical that you follow this type of information and your plan of activities to make sure that you are staying on task.