UAE is a business hub. It is very easy to start up a business in UAE. The procedure for registration and license is quite easy and there are many businesses that provide you services for helping in registration and guiding you through the procedures. Apart from this UAE also provides many facilities to business owners like no taxes and lower import duties. It only takes 8 days in the procedure of registering a business in UAE.
Apart from the facilities there are also many hurdles that one does not know before starting up a business. Try this link to know more about RAKEZ company setup. Here is the list of things that you should know:
- No one will tell you about business administration that supervises all business operations. Many people will tell you how to start up business in UAE but the right kind of information is given by the people who own a business. The business owners that have been through these situations can guide you the best.
- UAE provides the easiest system to start up a business. But you should keep in mind the cost of the business. You need to have a big investment because apart from the capital you are investing and expenses like office space and licensing fees there are also many other secondary expenses that should be kept in mind. You should keep aside around $10,000 as an annual cost. So overall the investment should be big.
- Most of the entrepreneur and UAE have used personal resources to collect investment. They ask their friends and family for loan instead of the banks. Because the banks in UAE have a very low appetite for loaning money to start-up businesses. So, one should also keep that in mind that how will they get loan for business.
- If you are planning to start up a social media-based business then you may face some problems during the licensing procedure. The trade name should not be confused with the license name.
- It is also very crucial to find the right kind of team for your business. So, you should look for a team that has qualification and experience according to the nature of your business.
- One of the issues that new entrepreneurs face that registration and licensing procedures are a bit difficult. Although each kind of licensing authority has a website with all the information on it but still one needs to connect with firms that help in registration procedures.