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There is nothing as important as building your future with a business in mind. The simplest plan for this is to keep an eye on the future and also see which industry would suit you best. Even with this in mind, you need to decide the location that would serve best for your business and how you can set up your company there. Quite obviously, the Middle East has become a tourist hub over the past few years. Everyone is keen on shifting base to Dubai to set a company. Mainly because of the huge economic success that has been witnessed over the years. To start a business here though, the first things I realised was the need for a General trading license. Unless you have a trading license in place, you would not be able to start a business in the first place. There are different kinds of trading licenses based on the different kinds of business entities you may have. It is quite simply a method put forward by the government to understand and bifurcate the business points in the country. This is one of the key reasons there have been free zones established in the country. There has always been an influx of money into the free zone areas in the country. 1. Free Zones licenses and Dubai mainland business set up
It is said that the government as early as the late 90s understood the need of making Dubai into a global hub. They wanted everyone from every country to come into Dubai and invest their money. That is exactly that the free zones allow you to do. You are allowed to invest in Dubai without a legal sponsor or a local national. You are known as the owner of the business 100%. This way, you own the company and decide the progress of the company throughout. It also means that you enjoy the advantage of foreign invest in your company. You can have an investment made by a foreign support at any time. Also, there is the massive advantage of benefiting from the tax structure. You would never have these benefits anywhere else on the planet to be frank. You are not charged a thing in terms of tax, both on your business or on the profits you have made. This increases the profitability of the company drastically. You are instantly going to have a 30% difference in comparison with India as a basic. 2. Commercial licenses
This is the kind of license you would have to apply for in case you are planning to begin a company that is into trading of any kind. It would be a must for you to obtain this license if you are looking to set up an entity that would trade products, shares or anything of that kind. 3. Industrial licenses
This is most typically used if you are in the manufacturing side of things. It requires approvals from the ministries and you would have to get a series of checks in terms of maintenance and quality measures. Once this is applied, you will get your industrial license. 4. Professional license
This is typically used by artisans, craftsmen or professionals who are working in a niche industry and do not require a specific work place for set up. The government has always gone an extra step to ensure you are on the right track for a good business set up. While there are plenty companies in most industries here, there is always room for budding companies to make it big here. Many industries are on the rise over the past few years, especially since the world expo 2020 has been announced. The general excitement has begun and investments have been earmarked for the event already. This would bring about a rise of job opportunities along with the space for local companies to help in the growth of Dubai. This is a time where you need to understand which general trading license would suit your business entity. After all, being in Dubai is probably the best thing you can plan out with the future looking bright. No one expects overnight growth in a business, but you can be sure of a quick growth plan in Dubai, especially with the past growth charts. Posted on www.godubai.com
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