Category: UAE Industry

Time for a move? From lifestyle to tax – why relocating your SME makes sense

Do you ever wish you could take it easier, yet at the same time increase your wealth? Well, the answer to that might depend on where you live and where your business is domiciled. An entrepreneurial existence can exact a high toll on your personal and family life. But if the taxman in your home country takes most of what’s left after you’ve paid for your life, it’s time for a rethink. Surely there has to be something more to show for the long hours, the missed vacations and the pleasures foregone? Could relocating your business to the UAE, for example, enable you to enjoy more of what you earn?

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Intrigued by import-export? Here’s how to get started in the UAE

In 2016 alone, the UAE exported some USD 98.8bn worth of goods, with imports reaching USD 184bn in the same year. It’s perhaps unsurprising then that the trading licence is one of the most sought-after in the Emirates – with overseas entrepreneurs commonly choosing to set up in the UAE’s many free zones. Whatever route you choose to go down, there’s a few things you need to know before you get started.

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How much influence does my local sponsor really have over my UAE business?

What’s the best thing about owning your own business? For many, being your own boss is the thing that really matters. According to one recent survey, that’s the main motivation for around two-thirds of people who start a business. But if that’s true, what happens when you come up against the local sponsorship rules that apply when you’re starting a business in the UAE? With a few exceptions, all businesses starting in the Emirates must be at least 51% owned by UAE nationals. If you’re from outside the country, before you get going you’ll need a local sponsor, who’ll effectively own at least half of your company. But if that doesn’t sound much like being your own boss, don’t panic. Let’s take a look at the influence that local sponsors really have, and what you can do if you’re still not comfortable.

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7 big reasons LLC company formation is the best onshore option in the UAE mainland

Launching new businesses is a popular activity here in the UAE. In Dubai alone, the Department of Economic Development (DED) issued a staggering 21,146 new business licences in 2016. Among these new businesses – and the 125,000+ licence renewals issued every year – the most popular company type is the tried and trusted Limited Liability Company, or LLC. So, if you’re looking to get started and still considering different ways you might set up your new business, here are seven reasons why LLC company formation is the best onshore option in the UAE mainland.

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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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