The UAE has become the real financial hub of the Middle East and starting a business here is much easier than anywhere in the world. Why? The UAE has some indisputable advantages such as tax-free environment, great infrastructure, the excellent location, and numerous free trade zones. It makes the UAE one of the best places for investment. Nevertheless, there are certain difficulties one can face in the Dubai when starting the business. Such difficulties arise simply due to the fact that any country has its certain particulars. Let us discuss the most common difficulties of starting a business in the UAE.
- Obtaining information might be a problem. There are various websites with detailed information related to the registration process, fees and regulations. However, this information does not cover all the issues and is not sufficient. Many aspects need further clarifications. If you want to do it on your own, you might face some problems finding all the detailed info and would need the certain time for it. To stay on the safe side, it is always better to contact a consulting company in Dubai that can give you the comprehensive support.
- Excessive paperwork. Paperwork is another common difficulty which needs to be sorted out in any country. If you are not familiar with all Dubai procedures, it can be very tiring and overburdening. You can find online many practical guidelines on the UAE, but it is still very difficult to list all the steps required when starting the business the and the related paperwork which needs to be sorted out.
- Cultural values have to be taken into account. Starting the business in the UAE will probably differ from launching a company in your home country. Islamic values are the foundation of everything happening in the region, and they are the core of doing business in Dubai. It underlies all areas of life – from legislature and entrepreneurship to daily life.
- Challenges in the banking sector. When starting the business in Dubai, you have to rely on your resources. One of the common difficulties is that banks in the UAE are very cautious about lending money to start-ups. The matter is that they give preference to the businesses they already know. Before lending money, they study business efficiency and only then approve a loan. It can result problems launching a start-up in the UAE.
- Adhering to your principles may be demanding. We live in the very diverse and multicultural world, and people living in different countries of the world have different beliefs and values. This means that adhering to your principles can be a problem for a person starting the business in Dubai, the UAE. The regulation you are used to might not work here.
Difficulties when starting a company in Dubai – not a point of concern
The UAE and Dubai, in particular, is becoming increasingly popular among entrepreneurs from around the world. However, when starting a business here, you will possibly face some common difficulties. Understanding them will help you to make the process of business launch easier. There is a market place for everyone in Dubai, and if you do everything correct, your company will succeed and prosper.
On our side, we are ready to provide the entire support on all your corporate matters in the UAE so that you do not experience any difficulties mentioned above and can concentrate on business as such.