How does a cost factor play a big role in setting up a business in Dubai
Recent research clearly shows that Dubai is of one of the emerging centres and has pulled the attention of investorsfrom all round the globe. In fact, Dubai’s tax free nature is abig reason for attracting many entrepreneurs, but at the same time it also gets important to keep in mind the fees generally get involved in having a new trade licence.Any business, no matter which category it belongs to require a registration, trade license, but cost is the most vital factor that one got to study carefully while looking at setting up any business in Dubai.
Today although there are various free zones available in Dubai, but each such free zone has diverse start-up measures and fees. Business owners need to have a minimum amount of capital for establishing and running a company in a free zone. However, in addition to the natural financial aspects of initial opening a business there are other costs that too require a proper consideration. In fact, in Dubai, some amount that needs to be paid to the Department of Economic Development comprises of:
- License and registration fees
- Working round the clock fees
- Commercial registry issuing fees
- Service agent fees
- Preliminary approval fees
- Trade name reservation fees
- Commercial name Fee Scope Indication
- Trademark name fees
- Foreign company name fees
Moving ahead there are also other important areas where expenses are involved in setting up a business in Dubai. If you are looking to have a proper business premise then make sure you also consider the renting costs of their premises as rents certainly play a chief role in starting up any business in Dubai. Having said that, trading business also require to pay a sheer attention to the imminent expenses of goods' importation. Dubai Customs have clearly defined proper guidelines to what the kinds of imports are allowed within the state.
Moreover, you would also require paying additional fees to your employees. Just for an example, if you are having restaurant then it is equally important to pay Waste Fees depending upon the total the number of workers or employees working in that particular restaurant. Adding to that, other important expenses are the fees like: Visa Fees, National ID, etc. that also required to be paid to the Immigration Department of Dubai depending upon the employees working in your company.
However, the fact is now Dubai enjoys one of the highest per capita incomes in the world. Talking further, taking all the valid features and expenses into consideration, to setup a business in Dubai and getting involved any kind of business activities is now a hassle free task. Now starting and setting a business is lot quicker and the city's economic policies are intended to safeguard the individual freedom of ownership. So, hugeprospects are waiting for you to available in opening a business and have a proper company formation in Dubai.