Starting your own company is a significant move. For many individuals, becoming an entrepreneur is a daunting job. Starting a business necessitates a thorough understanding and familiarity with various topics, including legal, finance, intellectual property, sales and marketing, liability insurance, human resources, and a variety of others.
Despite its many obstacles, pursuing a career in entrepreneurship can be highly satisfying, and in some cases, life-changing. For example, you’ll need to know how to court sales if you work in sales, marketing, or people skills. On the other hand, you’ll need to learn how to keep a steady account and stay on track to increase your wealth.
When it comes to becoming an entrepreneur and growing a successful company, there is a chance of failure; there are specific skills that an entrepreneur needs to be successful. Everybody knows that success requires more than hard work, flexibility, and industry knowledge.
When the government recently unveiled the permanent residency scheme—dubbed the Gold Card—it is the birth of fresh hope and a bright future for ex-pats in the UAE. Skilled people, such as current investors, entrepreneurs, specialised talents, scholars, and excellent students, are given the Gold Card. These individuals are considered essential contributors to long-term economic stability and development sustainability under the current permanent residency programme.
The government is optimistic that the new scheme will attract more entrepreneurs to raise FDI and overall global competitiveness. It’s a once-in-a-lifetime opportunity for both the government and entrepreneurs, and the timing couldn’t be more perfect.
Entrepreneurs will see how advantageous it is to start a company in the UAE and why now is a suitable time to do so. Following a slew of regulatory changes aimed at raising investor trust and improving the ease of doing business, entrepreneurs can see how advantageous it is to start a UAE company.
Establishing your company in one of the free zones in the UAE has its unique advantages for business owners. Let’s take a glance at some of them:
1. Physical Presence in the UAE is Not Necessary to Incorporate your New Company
Since the process is relatively fast and straightforward, you can complete your company creation from the comfort of your own home. In addition, if you already have a UAE residency visa, you won’t need a No Objection Certificate (NOC) from your current sponsor to start your new company.
2. No Paid-Up Share Capital or Annual Audit
Unlike several other Free Zone options, you won’t have to block a large amount of share capital with your bank to shape your new company, and you won’t have to go through the time and cost of an arduous company audit every year to renew your trade licence.
3. 100% Repatriation of Capital and Profits
You have total freedom to repatriate all of your spent resources and income, unlike many other nations. In the UAE, there are no currency controls or restrictions.
4. All Company Documentation Issued Within Days
Commitbiz business setup in Dubai consultants makes establishing a business more straightforward and more reliable. Documents are released quickly, and you can start doing business legally in a matter of days.
5. Allocation of One to Infinite UAE Residency Visas
With an infinite number of visas available, you’ll be able to staff your new company adequately right away. If you want to work with Commitbiz, you will have preferential access to an infinite number of visas.
6. Choice of Work and Flexible Time
The majority of citizens do not wish to be bound by a corporate environment. Working more hours than usual is a prerequisite to becoming an entrepreneur. On the other hand, working hours are flexible, so it does not bind an individual like a conventional 9 to 5 work. Now is an excellent time to start your own business as the New Year begins.
7. More Opportunity to Put Your Thoughts into Business as Compare to an Ordinary Job
An entrepreneur has more opportunities to apply his or her ideas and skills to business decisions. To make a business successful, an entrepreneur should put forward his best efforts. The constraints do not constrain them that they encounter when operating in the corporate world. For example, working under senior management, where you must complete tasks while adhering to strict rules and regulations, is one factor. It is the perfect time to make a shift in one’s working lifestyle.
8. Put Your Experience into Reality by Becoming an Entrepreneur
An entrepreneur is not born with the ability to start a company. To obtain real-world knowledge, he must learn all of the requisite skills and techniques. It is often difficult to enter the world of entrepreneurship, but you will put your skills to good use and become wealthy once you do. Whatever sector you’ve worked in previously, now is the perfect time to put the experience into productive use.
9. Change the World by Changing Your Lifestyle
An entrepreneur can transform not just his or her own life but the entire world. This is because they consider the big picture of actions, employment, and other factors. Time is ticking away, and a wise choice will transform your life and empower the rest of the world with your talents and skills.
10. Independent Location
Entrepreneurs who want to do business in the UAE without regard to the location would find the UAE ideal. You can start a business in the UAE no matter where you are.
Our Business Setup Advisors, such as Commitbiz, will advise you on the most appropriate package to meet your needs based on your visa requirements and the type of company you wish to start.
The critical acts of the government in recent years have caused a stir in the region. Other countries look to the UAE for global competitiveness inspiration, and it doesn’t stop there. More significant changes are on the way, which would help the public, government, and business community with the permanent residency programme’s introduction. So, if you are thinking of setting up a business in UAE, this is the right time. Go ahead, and kickstart your dream venture!