To start a new business is always a journey of so many new things and excitement. Big dreams are not very easy to achieve. Similarly, business setup takes a lot of courage, passion, patience to handle issues with open mindedness and self-confidence. So, get ready to learn exciting things about business setup in Dubai what are issues you might face and what is the solution to those problems and issues will be.
Identify the problem:
First and foremost, important thing is to determine the problem. Either it is actually a problem is or not? Because some people get so nervous on minor and small things during the process. So, without figuring out the actual problem do not lose your confidence and productivity on issues which is normal in setting up a business. Rather use this energy in creating new idea for betterment of your business plan and journey.
Also, keep that in mind, Dubai officials and government are working day in and day out to offer easiest and business friendly policies for locals and foreigners as well. The ratio of issue in whole process are like 10 in a thousand. So, believe in your dream and achieve your goal to setup your business in Dubai.
How to solve issues with business setup in Dubai?
The most common and possible issues that you might face in Dubai are as follows:
1. Limited or unauthentic knowledge
This is the basic and most important thing which is extremely crucial. To learn authentic and firsthand knowledge before getting into any business setup. However, the best way to get all authentic knowledge and legitimate about business setup in Dubai is to consult any company which is up to date and professional in their job. Those who knows each and everything even the revised policies quite well.
As we know government is constantly evolving their terms, rules, and regulations in case they found something better in favor of businessman, investors, country, economy.
2. Minimal research and planning
Research is the key for better results. Without in depth research and information you can not find the right path for anything. So, try to research hard before jumping into the conclusions.
Right planning and step by step procedures are the best way to plan things for business setup. You just cannot open a bank account in Dubai before getting your permits. In that way you may have to face unimaginable issues for whole setup. So, plan things in advance in a right way.
3. Wrong cost estimation
Many businessmen have to face this issue during business setup. Someone guides them wrong about the cost of company setup and in the middle of the process they found themselves helpless for funds. So, it is better to discuss your case with professional business setup company in Dubai to get an idea for cost and fees for your case in particular.
4. Incomplete documents or particulars
Every state has it own rules and regulations. They have some criterion of documents submissions and nocs which is described. So, you have to submit all your business particulars and paperwork accordingly. Even if you miss a single attestation for your LLC formation Dubai then your application may be rejected. And you have to face issues in setting up a company in Dubai. So, prepare your documents along with stamps or attestations form authorities.
5. Unable to find local sponsor
This challenge is faced by many businessmen, sometimes they do not find a silent partner or sponsor for their business setup. Which is compulsory in some jurisdiction of companies. So, this can be solved by hiring a professional business consultant who has web of contacts and can get you in touch with reliable local sponsor.
6. Your product or service is ban in state
This is a rare issue in business setup process. Because Dubai mentioned the ban products or services on tehri official websites. So, it is better to avoid a business structure which involve such restricted activities or products.
7. Unable to find office space in range
You will want a physical address for your firm in order to complete your business setup. This also holds true for businesses that conduct their business online or abroad.
You should take site risks like storms, fires, floods, earthquakes, and other natural calamities into account while choosing an office. To shift the financial burden of these risks to an insurance company or third-party provider, some businesses decide to purchase property, liability, or casualty insurance.
