Which legal business category shall I opt for?
Shall I go for a mainland business setup or start a company within the free zones in Dubai? Maybe I must get into a partnership under a joint venture, as I can make a bigger investment into the business or maybe I must limit it to myself and pursue under a sole proprietorship?
So which legal business category should I opt for?
If these are the questions you are asking yourself, take a minute and read this article. Well, every country has its fair share of legal businesses structures and startups categories, and the United Arab Emirates is no different. In UAE, business entities are equipped with the knowledge, tools, and specific skills required to run a business. Likewise, the distinguishability among the business setups in UAE provides a more productive base for industries under operation as well as governmental and judicial authorities under administration.
Legal business categories in UAE vastly takes over business operations as well as revolutionizes methods of business conduction, they also provide ample of opportunities, if rightly segregated and help entrepreneurs to break into a thriving business segment. The legal business categories in Dubai and around UAE market constructs a business environment that provides the region with abundant prospects of entrepreneurship.
Here are a few guidelines that you must adhere to while opting a legal business category for Business setup Dubai or any other emirates:
Governing Law – It is essential to comprehend with the governing laws of the jurisdiction of your choice. A common area of concern among investors is the flexibility to contract or acquire an agreement under their preferred governing law.
Nationality – Ascertain the role of nationality also plays a key part while setting up a business in UAE. Be it a UAE national, a GCC national or an international investor, each nationality plays a role that provides with the choice of opting a legal business category.
Capitalization – Under a UAE mainland business it is mandatory to have a 51% partnership with a UAE national, while a freezone offers a sole proprietorship offering a difference in legal business structures as well. However, these variances also define the conversion of income or assets into capital within a company.
Business Activity – The business activities and the commercial proceeding that are conducted by the company also determines the legal business category that the company can adapt. At times, there are benefits and boundaries applied on business entities under a business category. Therefore, while opting for a legal business category it is equally important to discover whether the specific structure provides with all the characteristics depending on your business activity.
Employment Laws & Visa – Take into consideration the employments laws and visa benefits applied on the jurisdiction and the legal business structure that you choose. Depending on the type of legal business structure, convenient employments laws and more visas can be acquired under a single business itself.
If you are still unsure what needs to be done or confused which is the best place to register a company in Dubai or around UAE, take assistance from our team of legal professionals proficient in business setup services at Shuraa Business Setup. Shuraa experts provide you with the various options to establish your company in UAE as well as leverage multi-disciplinary methods to choose the right legal business category. Learn in detail call us now!