5 Don’ts in Business Startup Dubai

♠ Posted by Unknown in 5 Don’ts in Business Startup Dubai at 08:46

1. Do not register your company in a Free Zone without taking a look at the available office sizes and preconditions

Often the published information for a Free Zone gives a wide choice of offices. The actual availability keeps changing. A business startup Dubai normally looks for the cheapest option.

It may be possible that when you actually go for registration of the company you may find that only certain office sizes are available. This throws the business startup Dubai budget into disarray.

It may be too late to change your Free Zone then. Or it may happen that certain offices allow only 1 visa that too only for investor and not for the employees. So do not proceed until all aspects about office are confirmed.

2. Do not make firm plans based only on published information

Business Startup Dubai | 5 Do’s and Don’ts to Make Your Business Profitable

Before you finalize the plans for the business startup Dubai it is prudent to confirm the validity of the published information.

Rules change in Free Zones and also in local Department of Economic Development for business registration.

Do not go ahead until you have confirmed your assumptions through a business set up consultant or by actually contacting the relevant authority.

You may discover that some papers may be needed or that some nationalities need special permissions or that some requirements may be waived if you request or negotiate

3. Do not choose a license category blindly without confirming if it allows your business model

In a business startup Dubai it is not possible devise a business model that will not need a change. Very often much change or at least some tweaking is needed.

Make wide possibilities and confirm whether your planned license category allows you all the activities that will be likely in the business model you are planning. Do not choose license category that is too narrow.

4. Do not open a bank account without confirming the bank charges

Banks levy varying charges. For a business startup Dubai these can amount to substantial sum for a bank dependent operation. Always confirm the requirements and charges beforehand. Do not choose a bank based on only the reputation.

5. Do not sign a sponsorship with local sponsor without a written legal agreement

The business startup Dubai may need a lot of support initially. A local sponsor may want to charge separately for some services.

Do not go ahead with sponsorship until both sides have agreed on what to expect from each other and a written agreement is drawn up. Do not rely only on verbal understanding.

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