Forming a company is an intricate and detailed process. This, in part, consists of incorporation – the process of registering your company as a legal entity. New companies should keep in mind that local Governments have certain laws and regulations in place to assess company formations and incorporations. Business consultants are available to help you streamline these processes. They are able to offer services to support the establishment, and expected growth in any business.
Business consultants can help to create and structure business plans for companies. This will help in giving the company accountability, in relation to goals and direction. Structuring the company also has legal requirements. It may be necessary to get help in this area by approaching a consultancy to assist with factors like business registration and personal liability. Legalities can also include registering the business and the company name, for practical reasons and to protect the brand. Lastly, part of the legal process is to apply for any permits or licenses that the company may need. This helps to ensure that all company happenings are legally compliant. For example, you need to decide if you would like to start an offshore, mainland or free zone entity.
You may consider getting help in the form of Public Relations Officers (PRO) services from companies. Businesses in Dubai require a PRO, also known as a Government Liaison Officer. These individuals are there to help with clearing professional documents and processing Government documents. These documents usually are related to matters such as passports, visas, permits and licenses. This is relevant in Dubai because of the large international workforce.
New businesses may also need assistance with practical matters such as setting up a company bank account. The previously mentioned steps may influence this part of the process because registrations and other paperwork are often required by the banks. Assessing the finances of your soon-to-be company is another factor when setting up. If you or the current employees at your company are not skilled in this matter, then it may be best to seek the advice of a professional. They can help you with predicting startup and short-term costs. Minimizing costs and encouraging cost-effective decision-making is where consultants can be particularly helpful.
Overall, consultancies are attractive because they can help when dealing with finances, banks and mandatory Government bodies such as the Department of Economic Development (DED), Dubai Immigration, and the Ministry of Labour.
In addition to these points, there are an increasing number of consultancies in Dubai that offer business advice as well as coworking spaces. The location of your business is incredibly important as it can affect revenue, legal requirements and taxes. There are many benefits that can come from getting assistance with starting your business and consultancies are there to help in a diverse set of ways.
Leave a Reply