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business setup in dubai

Business Consultancy

Key Factors To Consider When Choosing A Business Consultant

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Key Factors To Consider When Choosing A Business Consultant Dubai, known to be the ‘City of Gold’ is the best place to kickstart your entrepreneurial journey. International exposure and investor-friendly environment are the two major factors that drive entrepreneurs to set up their dream business in this city. However, when it comes to understanding the business setup process, many budding entrepreneurs face a tough time. The reason behind it is that no person can be an expert in every aspect of business. Many business owners have realized this already, in fact, if you look past, seeking guidance has enabled several businesses to take the right direction. For instance, during the initial stages of Facebook, even Mark Zuckerberg took assistance from Sean Parker who played a pivotal role in transforming Facebook from a college project into a real company. This shows the importance of hiring a business consultant to get clarity and direction in your startup journey. Here are certain key factors to consider when choosing a business consultant: 1.Knowledge A business consultant should have a profound knowledge of the company’s strengths and weaknesses, as well as current and foreseeable problems, only then, they can ensure a better future for your business. A consultant will find the right opportunities by identifying problems in the first phase. Later, they come up with strategies and develop an action plan for achieving business goals. 2.Experience Reviewing the past track records with previous businesses is a great way to analyze a consultant’s expertise. The more experienced a consultant is, the best guidance you will receive from them. If they have already served many organizations previously, they can offer a ready-made solution which worked for them in the past. If not, they will still know where to start, and which path can be better. 3.Communication Skills A good consultant can clearly convey their message and ideas to the people they work with. They are the ones who come up with the right questions to resolve all crucial business management issues facing your business. They should understand your needs and offer prompt guidance. 4.Trust and Integrity Trust and integrity is vital to any business relationship. When you work with a business consultant, you will be sharing your company’s confidential information and business strategy with them. Therefore, honesty is a crucial factor worth considering, indulge in a long conversation with the consultant as much as you can and derive to a conclusion accordingly If you are looking for a business consultant in Dubai, Corpin Consultants is a trustworthy partner you can always rely upon. We offer a wide range of services including selecting the right jurisdiction, acquiring the essential licenses, legal documentation and other startup consulting services. For a free consultation, contact ek@corpinconsultants.com or +971 55 843 2911.

Business Consultancy

A Step By Step Guide for Setting Up A Restaurant Business in Dubai

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A Step By Step Guide for Setting Up a Restaurant Business in Dubai Starting up a restaurant in a place like Dubai is a lucrative business idea as this destination attracts approximately 4.7 million tourist visits every year. The industry is further going to flourish in the upcoming days with the advent of Expo 2020. Therefore if you are planning to set up a restaurant business in Dubai, this is the right time. Here is a step by step guide given below: Identifying a local sponsor If you are planning to set up your restaurant business in the Dubai mainland, it is mandatory to have a local sponsor. A local sponsor is a UAE national who acts as a representative for all government-related paperwork and approvals. It is essential to find an educated, reliable, and trustworthy local sponsor. Applying for the trade license Before starting a restaurant business in Dubai, one needs to obtain a trade license issued by the  Department of Economic Development (DED). Before applying for the trade license, one must first select a trade name and then file with the DED for initial approval. Selecting a strategic location The next step is selecting an ideal location. You need to decide where you want to set up your business-mainland, free-zone, or offshore. Choose the location based on these crucial factors such as visibility, accessibility, customer base, affordability, and proximity to suppliers. Also, confirm with the Municipality of Dubai whether the restaurant business activity is permitted in that selected area and obtain a no-objection certificate. Special approvals Food License:  Soon after receiving the trade license, you need to procure a food license for receiving the construction plan of your restaurant. A food license is issued by the Food Safety Department in Dubai and it is mandatory to follow the food code for ensuring food safety right from the production to the distribution stage. One needs to also obtain other selective permits such as Ramadan Permit, Liquor Permit, Pork Permit, and Delivery Permit.  Submitting the kitchen layout After getting the initial approval, you need to submit the kitchen layout to the Food Safety Department.  Drafting a memorandum of association The next step is making an LLC memorandum of association. This is a commonly agreed set of clauses between the shareholders. Both the ex-pat and local sponsor need to sign this contract in front of the Dubai court official notary public. Issue of License This contract will be submitted to the DED along with initial approval. After the successful completion of all processes, your restaurant license will be issued. If you are planning to set up a restaurant business in Dubai, Corpin Consultants can make the entire process less tedious for you. We have a team of experts who will guide you in every step with continued commitment. Contact us at +971 55 843 2911 or info@corpinconsultants.com for a free consultation.

business setup in dubai, business setup in uae, corpin consultants
Business

Business Setup in Dubai

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Dubai has always remained to be a promising business destination for budding entrepreneurs. With a long-term vision, the UAE government creates a win-win situation by offering the right political and economic conditions for businesses to thrive. Therefore, if you are planning for a business setup in Dubai or company formation in Dubai, look no further it is the right place to turn your dreams into reality. Listed below are the top 6 advantages of the place: Geographically Strategic Location The strategic location of Dubai is a major plus point for investors. Ideally located between the east and the west, the city connects the best of both worlds covering major continents Asia, Europe, and Africa. An interesting fact is one-third of the world’s population lives within a 4-hour flight of the UAE and two thirds within eight hours. Therefore for any business activity related to logistics, international trading, hospitality, or tourism, Dubai is the best place. The venue for ‘2020 World Expo Trade Convention’ Dubai has been chosen as the venue for the much-awaited ‘2020 World Expo Trade Convention’. It is the first middle eastern city to host this expo generating tremendous investment and employment opportunities in the country. World-Class Infrastructure When it comes to infrastructure, Dubai never stops progressing. The city takes pride in it’s highly developed roads and public transport system. Dubai is also known for its state-of-the-art commercial, residential, and recreational facilities. In a Travel and Competitiveness Report, the World Economic Forum has listed Dubai among the world’s top well-maintained cities. No Taxation Policy Dubai is a tax-free economy, therefore if you are planning to set up a business in Dubai, you do not have to pay any tax to the government. The country exempts investors from numerous taxes such as personal income tax, corporate tax, withholding tax, and capital gains. Excellent Banking System The banking system in Dubai is known for its economic stability, strong security and prompt customer service. With a secure government and extensive financial resources, an investor can easily open a bank account in UAE when compared to other countries. Existence of mainland, free zone, and offshore jurisdictions  There are three main jurisdictions in Dubai with its unique set of advantages for investors- mainland, free zone, and offshore. For setting up a mainland company, a foreign investor should mandatorily have an Emirati partner. These companies can enjoy an array of advantages such as the freedom to do business anywhere in the UAE, zero tax (corporate and personal), hassle-free recruitment process with no limit on an employment visa, and low import duty.  For a free zone business setup in Dubai, UAE entrepreneurs do not require a partnership with an Emirati sponsor yet enjoy 100% ownership irrespective of their nationality and domicile. These zones have numerous benefits such as exemption from a capital deposit, import and export duties, no office requirement etc. Offshore companies do not require a physical presence in the UAE and have a significantly lower cost structure. If you wish to gain more information on these jurisdictions or are planning for a business setup in UAE, Corpin Consultants can help you out. Our experts can provide you with valuable guidance and support in every aspect of company formation in Dubai. Contact us at +971 55 843 2911 or drop an email at info@corpinconsultants.com, we are happy to help you!

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