How to start business in Dubai without a partner

DUBAI: There is no need to look for a partner in order to set up a business in Dubai. Onshore professional licenses are available for activities such as consulting and other services, and may be owned 100 per cent by a suitably qualified foreign national, although he or she must appoint a Local Service Agent (LSA). The LSA provides government registration services for a fixed annual fee. It has no shareholding or involvement in the business.

Aspiring entrepreneurs face a number of obstacles to start here. For free zone or onshore licensing, for dealing with the legal matters, Prajit Arora, managing director of Sentinel Business Centres, a consultancy that guides entrepreneurs offers a guide.

Rushing into the venture without adequate planning is not advisable. The entrepreneurs must do some research and then make a plan.

"While time is dedicated to researching the business model, investment requirements, consumer demand and all the other factors necessary, business licensing often drop to the bottom of list. Licensing should be prioritised and you must ensure it is done legally. Choosing the correct option at the start will save you time and money later on. There is nothing to be gained from setting up in one licensing authority or free zone, only to discover further down the line it doesn’t serve your company’s needs and won’t allow you to carry out specific activities," says Prajit in The Natinal. (SEE DETAILS)

October 23, 2015