There will be a reduction of 50-70 percent in business-related activities for companies operating in JAFZA and for new investors. The activities include registration, licensing and related administrative functions and certain online services will be offered free of cost.

According to Mohammed Al Muallem, CEO & Managing Director, DP World, UAE Region and CEO of Jafza,”It’s specifically designed to create value and opportunities for the companies to channel their resources to support their activities sustainably. We believe this forward-looking initiative will enable companies to do business in a smarter way and generate more business and create new jobs.”

“Trade has always powered Dubai’s economic development and DP World has played a central role in supporting it. The activities of our flagships Jebel Ali Port and Jebel Ali Free Zone are very closely connected with companies located there to take advantage of the world class infrastructure facilities and investment incentives and to connect to global markets.

The twin economic growth engines are examples to the world and serve as models DP World is rolling out in other locations across our network worldwide. As wealth generators, they are critical infrastructure assets that underpin prosperity and success for our nation,” said Al Muallem.

JAFZA is owned by DP world, which contributes over 33.4 percent of Dubai’s GDP. The new initiative will further enhance the ease of doing business at JAFZA along with elevating Dubai’s status as one of the global centres for commerce and trade.

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According to Sheikh Hamdan bin Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, the growth in FDI is the result of people’s confidence in the economy of the city.

“Dubai is among the top three global FDI locations, thanks to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, which created a global investment environment in Dubai that keeps pace with the aspirations of investors, entrepreneurs and technology shifts in the region and the world,” said Shaikh Hamdan bin Mohammad.

Dubai has been successful in retaining its position as one among the most attractive cities for FDI. The city ranks third in the world, in terms of both capital flows and the number of greenfield projects. Dubai FDI, an agency of Dubai Economy-Government of Dubai, revealed the result.

“This is a proud achievement for Dubai. With the growth of talent and technology, Dubai will accelerate its drive to become the smartest and most sustainable city of the future,” said Shaikh Hamdan.

The various initiatives taken by the UAE government have played a significant role in increasing the FDI. The economy is looking forward to further boost the flow and this won’t be a challenge, considering its drastic growth in the last couple of years.

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Here are the top reasons why one should hire a business consultancy in Dubai:

Years of Experience

It’s clear that you do not have the required knowledge of setting up a business in Dubai. You will most certainly need a professional to assist you to get through the entire business procedure. With years of experience in the subject area, business consultants guide you through the whole process and keep you aware about the market scenarios and the real time dynamics of the industry that you are planning to enter.

Highly Qualified Team

Business consultancies comprise of highly qualified teams that are aware of all the inside-outs of establishing a business in Dubai. They are updated with the on-going market changes, rules and regulations, legal formalities and more. Hiring a business consultancy is highly advantageous.

Saves Time

Your business consultant will do majority of the work, saving you the hassle of running here and there for completing the legal procedures of setting up a company in Dubai.

Market Analysis and Research

In order to search for the right market place for your business’ products and service offerings, it is essential to conduct a thorough research and analysis of the market place and draft a plan accordingly. All of this will be done by your business consultant.

Categorizing your Requirements

One of the major things that your business consultant does for you, while planning on setting up a company in Dubai, is to devise a company structure for your business in accordance to the Dubai trade laws. All this is executed in a way that you shall not face any issue during the legal incorporation of the firm at a later stage. Your consultant will also advise you on how to start up business operations in Dubai’s market as per your needs and mode of business.

Company Registration

Be it an offshore company, limited liability company, free-zone set up or a partnership company, business consultants are well aware of all company registration types. They help you obtain the form, duly fill it, comply with all the legal formalities, find local investors for you, and even open corporate bank accounts on your behalf.

Licensing Formalities

To establish a company in Dubai, you need to apply for a legal license. But there are more than hundred types of licenses available for varying types of business. Being a market expert, your business consultant can help you choose the right type of license and complete all the formalities associated with it.

Financial Assistance

Business consultants understand that setting up a company on foreign land requires a significant investment amount. They guide you on appropriate funding or investment choices. It may be in the form of loans or joint partnerships, whichever is appropriate to your monetary needs and repayment capacity.

Set–up Assistance

Along with these, they assist you with the set-up of your business workplace like company’s location, workplace leasing formalities, company website development, personnel visa, promoting plans, accommodations and many more.

Have plans to setup your business in Dubai? Well now you know why you should hire an experienced business consultancy for it.

The post The Benefits of Hiring a Business Consultancy in UAE appeared first on Vitta Financial Analysis & Consultancy LLC.

In order to setup your business on any international land one should surely invest some time researching about the policies and processes of the nation.

Here are the five main steps, which are your guide to help cement your foot in the UAE market:

  1. Select your investment Centre

One should preferably invest in industries that are in demand and are continuously yielding profits. Dubai, being one of the most prominent cities of the UAE boasts a thriving real estate along with scores of business establishments. Hence, if one wishes to invest in Dubai, he should pick his options wisely and invest in sectors that have been witness to a history of continuous growth.

2. Get Updated with the Latest Rules of Ownership

Every country follows different rules of ownership. The UAE laws of ownership are complex and strict. One such rule of ownership is the mandatory 51% participation of UAE nationals in any established company within the country.

However, the rules for free zones are different. There are huge advantages of setting up the business here but then a detailed research is required to understand the rules governing the area. Moreover, it is important check whether the location is suitable for the nature of business or not otherwise, it would result in total loss.

  3. Acquire Business License

Every business needs a valid license to run its activities. In UAE, there are three types of licenses: Trading, commercial and Professional. While those who want to work their way into imports and exports need to apply for a trading license, the ones willing to invest in projects such as shopping malls or clubs need to avail a commercial license.

  4. Hire a Translator

Every country has its official language and so does UAE. Arabic being the official language of UAE is used in most of the business transactions. Therefore, it would be a good idea to hire a translator who could help you with the negotiations, while you take your time to catch up with the Arabic words and phrases in common usage. Several Dubai business consultants offer such services.

  5. Seek Professional Assistance

If your budget sustains, seek professional assistance before making a venture in the UAE market. There are several reputed firms of business consultants in Dubai to help you with the documentation process and the legal aspects of it. Most administrators take help from such consultants to ensure a glitch free process. Nevertheless, one should also check on the consultant’s authenticity as a precautionary measure since you would be disclosing your deals with the firm.

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