The Cost To Setup A Company In Dubai

A business setup in Dubai has its own advantage, particularly in terms of location and proximity. However, costs vary due to multiple factors that affect the final amount expected to spend. Moreover, low costs business setup in a free zone area, per say, also is determined by the business structure, nature, facility, and the number of visas required.  The following are some of the expected costs to register a company:

• In-the-city registration fee
• Name-reservation fee
• Business license fee
• Facility/office fee 
• Visas fee per person
  
  
  

Similar to free zone costs, setting up business in the mainland relies on factors like the business activity, visa permit counts, and facilities. Nevertheless, some additional expenses, that might be a one-time thing or recur annually, that increase the bill would include:

Government Fees are obligatory and would include:

• Notary fees
• Trade license fees 
• Registration at government department fees 
• Legal translations fees

Incorporation includes document submissions, arrangement of inspections, and others and that would be in most cases a one-time fee. 

Immigration and Ministry of Labor registration is to be expected and that might be renewed every two years. Moreover, the annual sponsor fee, a one-time legal fees, commercial premises fee and visa per person are to be quiet pricy on their own.

PRO service fees is another item to add to the list. For trade license management there is another fee under PRO services. Ministry of Economy registration fee is also to be included. In addition to Chamber of Commerce registration fee. PO Box, phone line for corporate registration, if needed, fees.

Having a solution house of experts helping you understand the fee structure of Dubai business setup would make the process way easier and controllable. A consultancy firm of complete business services from setup to running your company will leave you at ease and save you a lot of money, effort, and time! IBGME business consultancy team of experts will help make the right choices and understand what would be best for your plans. Call us today, let’s start working on making things better for your business success!

What are the Pros and Cons of company setup in UAE?

When entrepreneurs start pursuing a company set up in UAE, they must understand and comprehend the bigger picture. Look at all the angles understand what would seem like a disadvantage or an advantage. They should weigh the pros and cons of such a decision before going ahead and signing the business setup in Dubai. 

·        UAE has copious Free trade zones providing abundant possibilities of company setup all over the country with a functioning office, taxation exemption and the 100% ownership of the company by foreign investors.

·        Double tax treaties would avail more advantages in parallel thanks to the great number of tax treaties signed between UAE and other countries. Obtaining a number of residency visas in UAE for the company’s shareholders, directors, and employees based on the zone and the number of visas permitted with every activity.

There are more advantages to discuss but each free zone has it is a pack of pros, as well as mainland incorporation through the DED and allows you to do business locally and internationally. As long as the entrepreneur follows the regulations and fulfills the requirements. Contradicting to the long lists of advantages there are some items that some would consider disadvantages. Although Resident companies do not pay taxes, they have no choice but to prepare their accounting and file it for regular audit. Financial reporting is not to be considered an actual con.

·         The relatively high costs of Business setup in Dubai compared with the offshore companies in most of the international offshore jurisdictions. However, for a moderately sized business, considering that the company in UAE is the fully tax exempted resident company in a strong political and economic climate.  

Sharp ideas of the cons or disadvantages of the companies in UAE are relatively minor.  UAE is now the host of most of the largest international companies in the region. Moreover, the number of international companies keeps growing thanks to Emirates' clear legislation, professional local and international banks and modern technology developed infrastructure. Speak to IBG Consultants today, Success is around the corner.

Affordable Bookkeeping Services in Dubai

Bookkeeping can be a stressful task for many under the most favorable circumstances. Consequently, that is the reason it is vital to make a decision to get an ideal advice. Poor bookkeeping develops into wavering finances. Being a startup leaves a very small window for mistakes or making hasty decisions!

It is not for long till a business owner realizes that accurate and conversant financial records play a significant role in the success of a business. After all, business owners did not go into business to do the bookkeeping.

Hire full-timer or outsource a bookkeeper?
 
Outsourcing bookkeeping services firm in Dubai will:

• Give an owner peace of mind by removing the opportunity to have a member of their community in contact with their financial records when they have strong client references and many years’ experience.
• Enable the service to scale to needs, without having to hire or train additional staff. 
• Eliminates the concern over whether the records are accurate or questioning the integrity of the financial data. 
•  Elevates the burden of the task allowing business owners to spend their time doing what is best for business itself.

How is Outsourcing a bookkeeper affordable?

Outsourcing a bookkeeper or pursuing bookkeeping services in Dubai could be more affordable than hiring an in house bookkeeper because:

• It saves the headhunting process and its expencesses. 
• It saves the hiring process time and expencesses.
• It saves the liabilities of hiring an employee.
• It saves the on job training time.
• It is budget friendly as you can decide what kind of tasks are needed
• Moreover, choose a package that fits the business and its monetary requirements.

IBG bookkeeping services’ purpose is privacy, accuracy, precision, and professionalism.  We organize your finances eliminating unnecessary financial expenditures. Get par excellence services with the best Bookkeepers in Dubai and customize a budget friendly affordable package to fit your business needs with IBG, the most reliable Bookkeeping Services Firm in Dubai!

5 Reasons why Small Business Need Bookkeeping

Why is it substantial to pursue bookkeeping for small businesses?

• Accurate planning of the business resources and activity

Bookkeeping helps small businesses understand the concept of covering fixed costs, variable costs, and how to properly tailor the costs to avoid losses. Knowing where exactly the business stands will help in decision making as it concerns expanding the business.

• Controls misappropriation of funds

A good bookkeeping system will facilitate for business owners to be aware of unnecessary. In the absence of a proper monetary monitoring system, the business could be depleted.

• Auditing and Tax obligations

Bookkeeping helps small businesses get through audits worry-free. A good accounting and bookkeeping system helps to ensure fulfillment of all tax obligations and avoid tax penalties which.

• Business expansion plans

Banking is more facilitated for business owners who have a proper and accurate documentation on the finances of their business. It is clearer and more beneficial to determine if the business is ready for an expansion or not with proper bookkeeping. 

• Determining profits

A business that fails to generate profits regardless of whether it is generating large sales revenue is heading towards failure. With the help of a professional bookkeeping, it is easier to magnify the right trends for the business leading to more stable business and higher profitability.

IBG caters the Best Accounting & Bookkeeping Service in Dubai UAE for your small sized business. It is the first step in setting yourself up for success and at IBG; we believe that we are the success partners of our clients. Get in touch with our consultants and begin your own success story.

How to open a shop in Dubai?

Dubai has established its name as the financial, business and commercial, trade center of the Middle East, by becoming one of the GCC’s rapidly growing economies, due to its helpful business atmosphere and well-informed investment decisions. Ideally, setting up a shop in Dubai is quite a promising idea. Shops in the retail, beauty salon and restaurant domains are the most widespread in Dubai and each has its set of requirements and procedures. Nevertheless, what are the general steps of opening a shop in these fields?

·         Retail Shop

With the Dubai shopping festival and other similar events - opening a shop in Dubai could be a very profitable business. It is mandatory to obtain the support of a local partner having not less than 51% of share in the business. For the commercial license to be issued, some documents have to be submitted to the DED in Dubai and the UAE federal ministry of Economy:

Ø  An application with the company's name mentioned in English and Arabic.

Ø  The original lease contract for the registered address of the company.

Ø  The permit issued by the Dubai Municipality Building Department clearing the use of storage space as a business address for the retail store.

Ø  Payment proof of trade license issuance fee Shop on Rent Hiring a shop for rent also comes with certain series of permissions required to get from different governmental bodies.

After going through the outline and the main frame for the steps and what is needed to open a shop in Dubai, learn more with the assistance of IBG veteran consultants and make the best decisions for a UAE business setup. Join the parade of success and thrive with the budgeted and time-efficient consultancies.

How do offshore companies work?

Offshore companies are the safe, secure, and the most cost-effective solution for across the border business setup. It guarantees secrecy, privacy and anonymity with in a legal entity, which enjoys legal privileges. Business owners or entrepreneurs that pursue private, supportive, the most profitable climate to operate their international business need to understand the process of offshore company formation and what benefits that type of formation bestows on their businesses.

Offshore company setup, particularly, means that the business owner could register a company on a state with no need to own premises, disclose the details of the owners nor get into legal conflicts. It permits the owner to conduct businesses internationally except for the state where the company is registered. It merits the owner with 100% ownership rights.

Offshore company also offers an abundant number of benefits including:

• Low Taxation
  With this type of company formation, owners and stakeholders enjoy very low taxation rate encouraging them to conduct various business activities within the most profitable legal taxation atmosphere.

•   Legal separation permission
  This business entity type permits asset protection provision through the availed separation between the company secured assets and the company creditors.

• Possessions immunity.

• Multiple currencies banking provisions and banking support
  Many states and sovereigns avail flexible banking services including corporate bank accounts creation and multiple currencies availability.  

• Physical presence of the investor is not required for the registration process.
  This type of business formation has created a legal and ethical method for starting a business without multiple financial obligations for business owners and entrepreneurs.