Dubai is a hub for many businesses nowadays. Setting up a business over there is a wise decision indeed. The ease of business setup in Dubai has also been recognised by the World Bank. Also, setting up business in Dubai comes with numerous advantages. The geographical location is a benefit in itself.
Some other advantages include free zones, no taxation, and technological advancements. All these make Dubai a great place to start your business. It also helps you with good and educated human capital that can help your business grow.
Know What Influences the Cost of Setting Up Business in Dubai
The cost for business setup depends on various factors. Also, there are different costs applicable at every step. You can also consult the best business setup company in Dubai for expertise.
Few factors affecting the cost of business setup are listed below:
- Location: Location is a major factor that will affect your business setup cost. A prime location will cost more but with the added advantage
- Business Nature: The primary step of a company formation is to get a trading license. The cost of the license varies for businesses
- Renting Office Space: This is another variable of cost for setting up a new company. A minimum of 100-200Sq ft. area is required for initial license approval
- The number of Employees and Partners: The business setup cost also involves paying the employees and sharing with a partner. This is also important and should not be missed
- Visa Requirement: This involves your and employees’ visas i.e. the number of employment visas required
Above all are a few major factors that you ought to consider before planning to set up a business in Dubai.
What Are the Different Expenses Incurred While Setting Up Business in Dubai?
There is a lot more you need to know before starting a business in Dubai. At various steps, there is a nominal fee charged that can be counted at the expense of your business setup. Already you know about licensing and office renting charges. Below mentioned are a few other expenses you may add to your setup cost:
- Incorporation Fees: Any business setup is required to choose a business type or entity. This determines the legal implications and a need to get a permit for business
- Equipment and Devices cost: It is an immediate requirement as soon as you set up a company
- Marketing: Marketing is required to grow your business. This is also a considerable expense.
- Office supplies: This can include resources of your work and furniture as well
- Insurance: A business needs protection the same way as other liabilities and assets. Insurance is mandatory for your company as well as employees
If you want to get a thorough knowledge of a business setup along with expert guidance, you can contact Emirabiz. They are the best business setup company in Dubai that can help you in every step of your business. Their price is quite affordable, and their experience is a gem. If you have made up your mind to set up a business in Dubai, this is the right time to contact.