As an expat, you really cannot ‘move’ to Dubai unless you have a job – and you have an employment contract. Of course, you can set up on your own as well (see section below).
You also need to realize it you literally cannot ‘immigrate’ to Dubai. How long you can stay in Dubai depends on how long you have your job. These days it is not difficult to switch jobs or switch your kind of employment, but you still really need to be employed and have an employment Visa to stay in the country.
Finding a job in Dubai is a flip of the coin for the most part. You
Entrepreneurship and Setting up your own
Setting up your Business in Dubai and the UAE
There are a few steps you need to consider when you want to set up your business in Dubai The first thing that you need to think about is what is the ideal jurisdiction to incorporate your company meaning is it a free zone do you want to set up in mainland or would it be offshore .
You have to remember that the free zones the mainland options and the offshore options have different operational governance and therefore they have different characteristics. The kind of business activity that you can do the facilities available are the legal structure and the costs of setting up actually very quite a lot between these jurisdictions so as an investor you need to be well researched about the location of where you want to set up business and decide on the right choice That’s your first step.
It is worthwhile to actually work with a business consultancy because the laws and regulations in the UAE are governed by the commercial company law and a few other regulations that are specific to business activity that you do here and ignorance of the law is not an excuse so entrepreneurs or people who are in self-driven business need to be well aware of the laws and regulations.
Another reason that you might want to work with a consultancy helping you set up your business is that there are several services that you might require that are connected to setting up a company. Some of these services include PRO work that is required for every company, trade finance logistics, coordination with government departments, and many more.
It is important to remember that all companies are subject to 5% value-added tax VAT on products and services so the applicability of the VAT depends on the method of operation. Each company comes under VAT law – and files returns regularly to the federal authority for taxes, so a clear know-how on VAT law is important and you might again want to consult a specialist on that.
There are many factors involved when setting up your own business in Dubai and it’s important that you don’t just go for the first and the most cheapest option because you’ll need experience as well as expertise on your side. If you’re working with a consultant – and it’s best to outsource these headaches rather than worry about them – because it’s better that you focus on what you do best so that your business can flourish.
Setting up your own business or your own company in either a free zone or offshore or mainland isn’t a one-time thing. There are many recurring costs to maintain your business – such as overheads, licenses, visa renewals and more. Of course, you have to remember that there’s employee salary to pay, rent you need to pay for office space, and many other operational expenses. So before you start – you need to have a business plan and you need to know where and when you’re going to break even and how and and what are your expectations on profit margins.