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Becoming an Entrepreneur in Dubai

Becoming an Entrepreneur in Dubai

Dubai is a great place for entrepreneurs and startups. It has accelerators that strategically design opportunities for companies as there are numerous advantages when registering your company in Dubai. Being the wealthiest city within the Gulf Cooperation Council, Dubai serves perfect for any sized business.

What suits Dubai to be best for your company?

The attractive location of the Middle East along with the wide benefits catering to the startup circle are some of the perks that Dubai has to offer. Some of the other benefits are: The entrepreneurs have solid ideas to drive and execute for joining the economic growth of the country. The competition is fierce as Dubai is the ideal place for many people.

How to be an entrepreneur in Dubai

Few of the top nominated skills every future entrepreneur have to keep in mind:

Sales, Networking and Relations

  The company vision, mission and goals are the basic guidelines for every company formation that seems important, the longevity of any organization is their sales. Big time entrepreneurs and investors just believe in one motto: Defining that "Sales Cures All". You can invest time in networking and building relationship pipelines to keep your organization alive and healthy.

Stay dedicated, focused, and adhere to the business plan

Entrepreneurs drift off their business plan and replicate the pre-existing business model by assumption. It may be because the business model worked for another company that could yield similar results. However, that is not the case. Stay focused and be patient when things start to drift downhill, as it’s the way of the market. Situations deteriorate in off-seasons and maintaining a focused, sustainable business plan path is the key to overcome. The key is staying focused, crunching your budgets and expanding your reach.

Work Smart and Hard

Working hard to maintain the hours is the key; running your show won't clock out at the end of the day. In free time and time off the clock, you must be dedicated to networking that leads you closer to a deal. This would include weekends and nights. Working hard alone is not all it takes; being SMART is equally important. Be Specific: The objectives need to be specific and described positively to the public. Attainable: Attractiveness serves as key to the team and to your clients; be attainable most of the time. Being Measurable: Every goal and achievement should be measurable. Being Realistic: Not only you do offer service, hence be realistic and up to date, watch out for competition at all times. Be Time-Bound: How can we measure profit when tasks are not timed? Tasks can be monitored and timing makes all the difference in winning. To build a sustainable, homegrown business is desired by banks, investors, clients and customers. It’s not only the ideas that make organizations the “best”; instead the execution of building a reputable and honest brand image. This can be hard, but remain focused on your goals, be open to ideas from employees that help your organization grow and also respect your competitors. Implementing these behaviors in your company gives you every chance to lead within your industry. Looking for Business setup company in Dubai ? Black Swan Can help you in End to End business setup process in Dubai. Request a quote or a call back today.

What are some common mistakes when setting up a business in Dubai

What are some common mistakes when setting up a business in Dubai - Call or WhatsApp +971 55 663 5965 Subscribe to our YouTube channel: https://www.youtube.com/channel/UCfRURTYPdFSygpy1h6wGzBQ At Black Swan we provide a simple, straightforward and effortless approach for setting up your Business. We are a team of dedicated, practical and highly skilled professionals providing exactly what your business needs and are ready to run the extra mile for providing 100% client satisfaction. VISIT US: Website : https://bss.blackswanbss.com/ Official Blog : https://bss.blackswanbss.com/updates/ Facebook : https://www.facebook.com/blackswan201/ Twitter : https://twitter.com/BlackSwanBSS Instagram : https://www.instagram.com/blackswan_businesssetup/ LinkedIn : https://www.linkedin.com/company/black-swan-business-set-up-services  
2,394 new Licenses issued by Dubai DED in June 2019

2,394 new Licenses issued by Dubai DED in June 2019

The Dubai labor market  has recently witnessed the creation of 7,598 jobs with the issuance of new licenses. 2,394 new licenses have been issued in June 2019 by the DED (Dept. of Economic Development) to carry out various professional, tourism, industrial and commercial activities. As per DED’s BRL (Business Regn. & Licensing) Divn., professional accounted to 58.5% of new licenses; commercial with 38.9%, tourism with 1.9% and 0.7% with industry. Combined together, they managed to create about 7,598 jobs in Dubai’s labor market. DED’s ‘Business Map’ digital platform whose objective is to reflect Dubai’s economic realities by offering crucial data on every license segment including their monthly distribution and numbers, witnessed completion of licensing transactions and business registration amounting to 22,759. DED’s outsourced service centers accounted for about 191912 transactions, which is 87% of total, thereby demonstrating crucial role played to provide Dubai public with value added services. According to reports, June 2019 saw 10,417 license renewals, including 51.2% (5,335 transactions) associated with text message based Auto Renewal. June 2019 transactions displayed Trade Name Reservation accounting for 3,593 transactions with Initial Approval numbers reaching 2,905. The Total Commercial Permit number in June 2019 had reached about 906. News source dubaided.gov.ae

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Influencer License in Dubai

Influencer License in Dubai, UAE

A transition has been witnessed in influencer marketing from a niche for luxury brands to an effective channel with mass-market appeal in the last decade. Unlike the traditional methods of promotion, influencers today market every product and service with greater reach. There is a queue of brands to market their wares on this most modern of platforms. Globally, The estimated worth of the influencer market is almost USD 5bn and between now and 2025is expected to grow by 25%. Here in the UAE, for a social media campaign, influencers regularly charge between USD 1,000 and 10,000, with up to USD 50,000 spent by some companies on a single ad. The influencer market is regulated with license thereby making the companies more confident. Getting a UAE influencer license can be quick and easy with an apt support,

How to Get Your Influencer License in the UAE?

There are few steps to be followed to apply for your social media influencer license.
  • Outline your business activities. Every activity that applies to your business should be listed out failing which can lead to fines or even license revocation.
  • When starting up as an influencer, ‘Marketing Services Via Social Media’ should be the prime activity. To promote and market their products and services via social media applications, the license gives permission. To attract and retain customers, a plan is prepared along with purchasing an advertising space.
  • Choosing a company name is the next step in accordance with naming conventions like, no blasphemous or offensive language, no references to well-known institutions or any abbreviations of your name.
A legal entity like FZE or LLC has to be attached with no resemblance to any other company. Black Swan will help you with these initial decisions.

Applying For Your Influencer License In Dubai

You can now apply for your influencer or social media license in UAE, with your admin taken care of. A trade license has to be issued by the DED to work in this field, along with approval from the National Media Council (NMC). Black Swan can manage the entire process for you to ensure smooth running. We’ll require the following documents to make your trade and NMC license applications on your behalf, A copy of your signature A No Objection Certificate from your current employer (if applicable) Emirates ID photocopy Passport photocopy Trade license photocopy (for NMC application) They can also help you apply for your UAE visa and Emirates ID which involves four stages including a medical fitness test and biometric capturing that usually takes less than a week. You can also sponsor others such as children, a spouse or domestic staff for their visas being holders of a UAE business license.

How Much Does An Influencer License Cost?

The overhead charges of an influencer license are low. Cost of license from the Dubai Department of Economic Development (DED) is AED 20,000 to AED 25,000 whereas UAE free zone applications may also include the cost of your visa.
What You Need To Know About Starting Your Company In The UAE

What You Need To Know About Starting Your Company In The UAE

To start a company in the UAE, you need to go over the basics as usual - selecting a business activity, your jurisdiction, nature of the business, licensing, registration, getting approval, etc. This is practically common knowledge now. But more often than not, in following the nitty-gritty of the business setup procedure, one overlooks several details that may affect the functioning of the company in the long run.

Consultation

It is best to get expert advise from professionals who excel in the field of analysis of the market. Decisive Zone experts will help breakdown the financial and administrative aspects, and will also guide in the field of jurisdictions to choose. This process must be done beforehand, kind of like a layout of what needs to be done eventually.

Market Study

Starting a business in this day and age can bring some problems to the brim in the field of innovation. If picking up a field/product/service that already exists in the market, ensure you address areas that are overlooked by other businesses. When you market your product/service, highlight the overlooked factor that you now have fixed.

Location Check

Many new businessmen think of setting up in Dubai Free Zones as beneficial because of its many advantages such as exemptions on corporate and personal tax, no customs duties on exports and imports from free zones, etc. But what one misses out on is that you cannot expand into the rest of UAE, and will have to renew the business license every year. So choosing location wisely is important, depending on how you want to conduct the business.

Public Relations

While setting up a business, needless to say, there are a thousand things to take care of. It may seem a bit overwhelming to have to do it by yourself. Hiring a Public Relations Officer, who has expertise inefficiently filing paperwork and getting documentation done would help. A PRO would also devise certain strategies to take your business forward in a unique way. Ensure that your PRO aligns with your ideologies.

External Approvals

The Department of Economic Development (DED) usually deals with giving trade licenses to businesses to conduct business-related activities. At times, external approval is needed to start the business, depending on your field. They usually come from NGOs and semi-government bodies.

Naming the Company

There are several restrictions on what the company name can be, and one must ensure to follow all the rules. The company name cannot have resemblance to any other established brands or any name of a country. It cannot be named after a tribe or a person.

Choosing a Bank

While approaching a corporate bank, make sure their institutional restrictions don’t hinder your business activities. Research what bank will provide you most benefits. Need Help for Company Formation in UAE ?

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Business Setup Process in Dubai South Free Zone

Business Setup Process in Dubai South Free Zone

Dubai South Company Registration : Business Setup Process in Dubai South Free Zone You are likely to come across an ideal ecosystem here at Dubai South Free-Zone, where you can actually set up your business and enjoy saving significant money and time. One cost effective option to initiate start-up internationally and in the UAE is Dubai South Zone, as its fast developing economy does help you to reap in its advantages. Similar to other free zones, the procedure to be followed is very much the same. However, regulations pertaining to submission of necessary documents vary. Application submission with valid legal documents: Application form is to be collected from the free-zone authorities. It can also be applied online. Once done, all essential documents that are mentioned clearly in the form are to be submitted. Activity and Name Approval: Proposed name of the company is to relate clearly with the intended business activities and is not to resemble any other existing names. Moreover, there should be obtained NOC (No Objection Certificate) for those activities which may need external approval. Invoice Issuance & Company Registration: Your company is to be duly registered in the portal, only after approval of the documents is completed. Then you are provided with an invoice which states payment of dues, if any. Fees need to be paid at the counter and there is some waiting time to obtain the license. To obtain Dubai Free-Zone license, there needs to be paid an annual fee of around AED 3,000 to 7,000, which varies significantly, depending upon the nature of the business and its activities. Sign & Collect License, Registration Certificate and Lease (if an office is rented): Approval form is to be duly signed. License and other essential documents are to be collected. If an office is being rented for the business, then lease agreement will also be required. See all License type provided by Dubai south free zone Black Swan Business Setup service can help you in entire business setup & company formation process in Dubai South Free Zone. Talk to our experts Today.

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Company incorporation process in Mauritius

Company incorporation process in Mauritius

Company incorporation can be either affected with the submission of essential documents at Registration of Companies office or online.

Application form needs to have the following

  • Proposed company’s name.
  • Any former name or present full name, usual service address & residential address of each and every secretary or director of the company.
  • Specifications pertaining to any directorships and business occupation in any public company subsidiary or public company held by every director. If the proposed director is found to be the director of multiple subsidiaries belonging to a single group, then the holding company’s name should suffice with inclusion of ‘group’ word.
  • Every shareholder’s, full name, service address and usual residential address, amount that needs to be paid and number of shares need to be taken.
  • If company is unlimited or limited.
  • If company is public or private.
  • Company’s registered office address.
  • For one person company, service address and usual residential address of the nominated person by proposed director for acting as secretary, calling meeting of heirs in case of sole director’s death.
  • Business Registration Act stating business location and activities. The information provided within the application is knowledgeably correct and true.
  • Applicant’s full name.

The application form is to be accompanied with the given below documents

  • The company having a constitution needs to have a copy certified by one application at least to verify its authenticity as the company’s constitution.
  • Every proposed secretary or director’s signed consent needs to state that they do not have the necessary qualification to hold such office.
  • Every proposed shareholder’s signed consent comprising of class of shares and numbers including amount paid for them.
  • If the company is guaranteed limited, then every member has to sign the document to signify his/her consent of being a member and to contribute the amount in case, the company has plans to wind up.
  • If the agent who represents the member or shareholder signs the document, it becomes a proxy form that authorizes the agent to act accordingly.

What you Get after Application Process ?

  • Issue incorporation certificate
  • Enter on the Register the company specifics to provide unique number to the company.

While making incorporation application, the following documents need to be submitted

  • Certification of Reservation Original Copy (If any).
  • Passport photocopy for non-residents.
  • Residence permit copy in case, the company’s only director is found to be a foreigner.
  • Address proof of director like Utility Bill.
  • Address proof of Secretary for one person company.
Black Swan Business Setup Service offers Company Registration Service in Mauritius

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How to Choose the Best Free Zone in UAE

How to Choose the Best Free Zone in UAE

Free Zones in the UAE have their own body of governance that has special tax, customs and import regime, and are governed by their own framework of regulations. There are multiple free zones throughout the country. All these free zones have different procedures, prices and requirements that are constantly changing. They are in competition with each other and as a result, they introduce new products that lead to the change in market conditions. Therefore, it is important to make sure to ask agents that will help you set up to inform you of the latest news on what particular free zones are good for you. There are several things to keep in mind when you’re choosing a free zone to conduct your business activities in:

Type of business activity

Every free zone different sets of specific activities that it allows to be performed within the jurisdiction of the area. There are also regulations in what activities are permitted under a specific business license.
Facilities required
Every business required different kinds of facilities. IF yours is a business that required many meetings, one should opt for using an office facility. One should also keep in mind that setting up a business in a free zone means you cannot conduct it in the mainland.
Location
Ideally, the location should be in close proximity to transportation services and ease of access to your resources. This is a default regardless of where the business set up.
Capital Requirement
Each free zone has a different setup cost and a deposit fee. Depending on your budget and credit availability, you should properly research what suits you best and go for it.
License Requirements
Based on the activities you want your business to conduct, there are specific licenses that you need to acquire. Typically, there are three types of licenses - trading license, professional license and service license. Each fee zone might also require you to acquire an additional license.
Audit report requirement
Some free zones such as the DMCC require a financial audit report at the end of the fiscal year. Those zones that present an audit report are eligible to apply for loans and attract foreign investors whereas others are not. Depending on that need for your business, you can decide.

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Startup Business Setup in Oman

Startup Business Setup in Oman

The well-established infrastructure, high security, commercial connectivity, international networking stages and property rights promoted by the Oman Foreign Ministry provide a favorable environment for entrepreneurs to seize investment opportunities and transform business ideas. Start up in Oman has turned out to be a good opportunity. There are numerous reasons to start a business in Oman, some are listed below:
  • No personal tax
  • Strategic Business Location
  • Emerging Business in the Non-Oil Sector
  • Rapid development economy
  • Government support for new business
  • Availability of natural resources

Process to Start a Business in Oman

Those who want to start a business in Oman should consider the below mentioned consideration. Just follow the below points to easily start a business in Oman.
  • You must have atleast 2 stakeholders
  • A registered office address along with one director
  • Minimum OMR 15,000 required for startup

What is the Process of Registering a Business

Company configuration is the process by which a physical platform is provided for a business entity. There are certain steps you must follow to start the process. After deciding to set up a business in Oman, the following are the steps involved in establishing a corporation and establishing a corporation.

Documentation

This is the first step where all necessary documentation must be submitted to start the integration process. Here is the list of required documents:
  • Memorandum and Association Articles
  • Certificate of Visa and Passport Tax Registration for Shareholders
  • Shareholder ID
  • First Deposit Certificate Company Registration Form
  • Chamber of Commerce and Industry Affiliation Certificate
Open a capital account
Once the documents are submitted, it is necessary to open a capital account to deposit the initial corporate expenses.
Incorporation
This step includes submitting a requirement.
  • Legal startup form
  • Municipal approval
  • A capital deed
Post-Establishment Process
Apply for a visa
The next step in the incorporation process is to apply for visa services to all employees. In a word with your visa consultant, you can get access to visa services faster.
Employee Registration
Employees should be recognized as part of the business, and registering an employee under the company name is mandatory.
Switch bank account
In order to successfully conduct business transactions, you need to convert your business capital account into a current account. The Oman market has come a long way in the last decade when it comes to entrepreneurs. If you are one among those who are planning for a startup in Oman, follow the above mentioned step to peruse your dream. You will also be interested on:

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VAT Registration in the UAE

VAT Registration in the UAE

VAT Registration in the UAE: As of 1st of January,2018, all companies that all under the threshold of the Value Added Tax (VAT) law are supposed to undergo a VAT registration to be recognized as a goods and service provider by the government. A VAT registered business is allowed to charge the VAT from its customers and further make payment to the government. Being VAT registered includes several perks:
  • Businesses are allowed to charge VAT from their customers on the goods and services purchased.
  • The claim from the VAT paid on customers’ purchases will be deducted from the VAT on sales.
  • VAT needs to be paid to the government, but business owners can periodically file for VAT returns.

Who should register for VAT?

VAT registration can be tricky. Not all business need to register for VAT. There is a threshold that needs to be met and based on that there is mandatory registration, voluntary registration and exemption.
Mandatory Registration
VAT registration for a resident business is mandatory when taxable expenses and value of supplies exceed AED 375,000 in Previous 12 months or are anticipated to exceed in the next 30 days of the current fiscal year. When the business is a non resident, VAT registration is compulsory regardless of the threshold.
Voluntary Registration
All the businesses that do not fall under the threshold of the mandatory registration, can seek voluntary registration. But there lies a threshold for the Voluntary VAT registration as well. When taxable expenses and value of supplies exceed AED 187,500 in Previous 12 months or are anticipated to exceed in the next 30 days of the current fiscal year, businesses can apply for this. This amount is 50% of that of mandatory registration.
VAT Registration Exemption
VAT registration is exempted for businesses for those that fall below the threshold required for voluntary registration, when taxable expenses and value of supplies are even below AED 187,500.

VAT Registration Process

Before beginning the actual process it is best to acquire all the documents and keep them close: Copy of Trade License, Passport copy (Owner/partners), Emirates ID (Owner/Partners), Memorandum of Association (MOA), Company’s bank account details and IBAN, details of business turnover for the last 12 months (Balance Sheet, Audited Reports or Bank Statements), Customs Authority Registration Code.
  • To begin the process, one would have to visit the Federal Tax Authority website, where they provide a portal for VAT registration.
  • Business owners are required to sign up and create an account and follow all the self-explanatory instructions.
  • Upload all the necessary documents and submit.
  • Upon submission, a Tax Registration Number (TRN) will be generated.
A person conducting business cannot have more than one TRNs. For branches functioning from separate emirates, the same TRN can be used. Although, a business partner in the business can apply for a separate TRN.

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