Category: UAE Industry

Civil company formation in the UAE – the exclusive setup for specialists and professionals

Foreign entrepreneurs looking to set up in the UAE are faced with several options. You could opt to set up in one of the country’s many free zones, set up an LLC on the UAE mainland or form a civil company. Civil company formation in the UAE is available to qualified professionals in specialist sectors – such as doctors, accountants, lawyers, consultants and engineers. Civil companies must be established as partnerships with the business owners holding professional qualifications in their field of expertise. In this article we look at civil company formation from all angles to help you decide whether it’s the best option for you.

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Ready to fly? Why finance can give your startup wings

Gaining traction for a new venture from day one is every entrepreneur’s dream. You want to appear dependable, credible and financially astute. But creating a good impression and appearing established depends as much on having effective, up-to-date equipment as it does on sound financial judgement. One way to ease the pressure on startup budgets and cash flow is by keeping hold of capital and choosing finance, or leasing, for that equipment. Leasing can kick-start a business by giving a degree of flexibility and control, allowing entrepreneurs more room for manoeuvre when new opportunities, or unexpected expenses, arise. In this article we look at why choosing finance options or leasing may help your startup succeed.

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How to tough out those seasonal Dubai business slowdowns

When those difficult business lulls come around, they can spook even the hardiest of business owners. Slowdowns and upturns in sales are all part of the natural economic cycle; but that’s not to say the transitions are easy to handle. So, when business is slower than usual, it’s crucial that we keep cool heads and approach the situation with the same tools we use when addressing any other professional problem: objectivity and logic. It’s all about taking steps to keep our enterprises moving forward, regardless of the current climate. 

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General trading license in Dubai and the UAE

Exploring the various license options can be daunting for first-time entrepreneurs in the UAE. The answer to the question, ‘Which license?’ depends almost entirely on the nature of your business activities. Companies wishing to import, trade and export goods and products such as food, furniture, electronics or clothes must apply for a general trading license. This allows businesses to trade not only locally within the UAE but also with markets around the world. What’s more, a general trading license enables companies to trade in mixed goods. In practical terms, that means a business could import, export and trade any number of products – such as cosmetics, building materials and toys – all under the same license. And the best part is, applying for a general trading license in Dubai and the UAE is extremely straightforward. In this article we look at how to go about it.

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Small businesses in Dubai: why Dubai’s booming global economy is a hotbed of opportunity

The Financial Times describes entrepreneurs as individuals who are ‘drawn to opportunities, innovation and new value creation’. All over the world, entrepreneurs are the people behind the businesses that become market leaders. The entrepreneurial mindset sees opportunities where others see competition or even saturation. But starting a business is hard work. An environment that’s geared towards making your idea a success will be a huge help, and Dubai and the UAE fit the bill. So let’s explore how you can get the best from starting up your business in the region.

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When is setting up a UAE mainland company the best option?

Have you considered UAE mainland company setup? It’s true that for foreign entrepreneurs setting up in the UAE, it is usually the country’s free zones that catch the eye. And when you look at the headline benefits, it’s not hard to see why they get the attention. However, free zones are not the only option. In fact, depending on the nature of the business you wish to set up, they may not even be the most suitable environment. If you wish to trade directly with the UAE marketplace or take on government contracts, then setting up a mainland company could make more business sense. In this article we look at exactly when setting up a UAE mainland company is the best option, and the advantages of doing so.

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Behind the headlines – Dubai’s booming economy and what it means for your business

We’re used to hearing big, bold headlines about Dubai, whether it’s another record-breaking skyscraper, man-made islands, or drone taxis set to whisk people around the city. With the economy too, the headlines are often celebratory. If the stories sound like hype, that doesn’t mean they’re not true, but do they give the full picture and what are the implications for the entrepreneur? In this article we look at Dubai’s booming economy and what it means for your business.

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Setting up as a freelancer in the UAE

For thousands of people it’s a long-held dream – throw off the shackles of your nine-to-five and become your own boss. For many, it’s more than a dream. Just last year, Forbes reported that freelancers now make up approximately 35% of the US workforce, while in the UK freelancers contributed a staggering GBP 119bn to the economy in 2016. Here in the UAE figures are harder to come by, but it’s a similar picture. Dubai’s largest freelance marketplace Nabbesh saw its membership double to 73,000 between 2013 and 2014, rising to over 90,000 by 2016. Freelancing is completely legal in the UAE as long as you hold the necessary licence. In this article we explore the steps involved to getting started.

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Dubai’s thirst for innovation is pushing the frontiers of technology

Flying firefighters and driverless cars, almost-instant portal travel, and buildings that seem to lack solid foundations. It might sound like science fiction, but all this and more is happening in Dubai. Whether your startup is looking to innovate in tech, or simply take advantage of an ever-more-connected city, Dubai is moving quickly. In this article we look at the incredible innovations in the city, and what it means for the entrepreneurs operating in Dubai, or considering setting up here in the future.

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What will VAT mean for companies in the UAE – and how will accountants benefit?

Following the announcement last year that the UAE will introduce VAT on the 1st of January 2018, those of us working here must prepare for a huge shift in the economic and financial landscape. As this new era quickly approaches, comprehensive planning, preparation and checking is essential to ensure a smooth transition. To help with this somewhat daunting process, we look at what VAT will mean for companies and who will be benefitting from its introduction. 

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