Opening a new business in some other country brings many problems and difficulties to its owner, and the UAE is no exception in this regard. Despite the excellent tax policy and support for entrepreneurship, setting up a business in Dubai can also lead to various problems.
To make you ready for such difficulties and help with your path to success, we will consider them in more detail in this article, and also suggest possible ways to solve them.
The Main Difficulties When Starting a Business in Dubai
Naturally, the main difficulty is to find start-up capital sufficient to make the enterprise become profitable. However, these are not the only problems that entrepreneurs who decide to start a business in Dubai may face.
The most common of them are:
Make the right choice for such positions: business direction, type of company, type of license, free economic zone.
- Find a local sponsor if you intend to register a local company.
- Collect all the necessary documents, arrange them in accordance with all requirements and submit them for verification without violating the deadlines.
- Opening a bank account, which seems like a simple task only at first glance, but in reality, ignorance of the laws of the country, misunderstanding of the mentality of a bank manager and other pitfalls can deprive you of a clientele in a desired financial institution.
- Acclimatization - despite the abundance of air conditioning, hot and humid summers in Dubai are rather difficult to get used to.
- Language barrier - your English must be at the proper conversational level.
Well, of course, you should also remember that the mentality of the Arabs is significantly different from the peculiarities of the worldview of the inhabitants of other regions. You must respect the traditions and laws of the UAE if you want to build a successful business here. Get ready for:
- Business meetings are often delayed due to conversations.
- Being late here is not considered a violation of the rules.
- Refusal of food and drink will be perceived as an insult.
- Friday and Saturday are days off here when business meetings are not scheduled.
- Arab businessmen often wear national clothes, no one will demand this from you, but it is better to stick to a restrained and business style.
How to Minimize the Hassle of Starting a Business
Remember, spontaneity in entrepreneurial activity is an ineffective method. In order for the business you started to bring not only pleasure, but also good profit, you should seriously approach market research, conduct a system analysis, compare all the pros and cons.
Well, in order to avoid legal and bureaucratic problems when starting a new business in Dubai, you should contact the professionals from Dynasty Business Advisor. This company has established itself as a reliable partner for anyone who wants to get into the business world of the UAE. Its specialists, like no one else, understand the opening and running of a business in this country and will gladly share their experience with their clients.