If you’re asking yourself, “Can I start my own business without start-up capital?” the answer is YES! All your need to do so is a good business idea that can be turned into a productive, viable business.
The UAE is constantly adjusting its laws to attract more foreign investment to the country. No longer do you need a huge start-up capital to start your own business. This combined with the tax-free market makes the country a great place to start a business. Own your business 100%.
Keep in mind that the only way for you to start your own business in the UAE without taking on a UAE national as your partner is to locate your business in one of the country’s many Free Zones. Free Zones have a distinct legal structure and are considered offshore companies for legal purposes. Free Zone companies also offer incentives such as 100 percent foreign ownership, zero corporate taxation and quick administrative support from the Free Zone authorities (FZA).
In each free zone, a FZA is responsible for issuing free zone operating licences and assisting companies to establish their business. Once registering a business as a Free Zone Establishment or Free Zone Company, it will be considered a Limited Liability Company (LLC) that will be subject to the laws and regulations of the free zone in which it was established.
However, before jumping in to launch your start up, make sure Know your business. Is there a demand for what you offer? Equip yourself with sound knowledge of the local region, demand for your product or service and a business plan that will attract investors. Set up your office in an area that is most convenient for you to work from.
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Henri was born and raised in Lebanon and studied at University of Saint Joseph. He is an avid fan of extreme sports and RC car racing. He is fluent in French and Arabic, he has traveled extensively throughout the region and Europe for both for leisure and business.