The UAE is one of the most popular and ideal countries when talking about new business opportunities, due to its exponential growth and acceptance of new business ideas. However, it may not be as easy to set up a business in the UAE. Due to its great demand, UAE has laid down certain rules and regulations for those looking at opening new firms.
For expats, usually one cannot get into businesses related to insurance, banking, etc. For a joint venture involving a foreign as well as local party, the law states that the local party should earn a minimum of 51% equity. Also, under the UAE Commercial Company Law (13) of 1988, foreign companies are not allowed to undertake any kind of financial obligations.
For the approval of a company, it needs to be approved and licensed by the Economic Department and can be registered with the Chamber of Commerce and Industry.
Be it documentation for a client who's looking at setting up a new business, any legal obligations, or merely consultation regarding how to go about setting up a new firm.