Busting myths (Part 2)

Myth 5. There are no qualified employees here

In the UAE, the majority of the population, as already mentioned, are visitors. Filipinos and Indians occupy entry-level positions. Egyptians, Lebanese and immigrants from the post-Soviet space are most often taken to the positions of middle managers. Well, in leadership positions, of course, Americans, British and citizens of the UAE. There are plenty of professionals here, and even so, the selection here is quite tough. Up to 200 resumes come to one vacancy in Dubai per day.

Myth 6. Company registration will take 2-3 days

With a favorable outcome, you can open a company in a week, while you can start full-fledged work only in a month. The fact is that the founders undergo a special check. And if you need to obtain a license from the Emirati government agencies, then the registration of a company can take 3-6 months.

NOTE. You can open a business in the UAE in a matter of days. For example, in the emirates neighboring Dubai. If you prefer to work only with an address in Dubai, then you will have to wait, but then Dubai will be indicated on your license.

Myth 7. You cannot open a company without a local resident - a co-founder

Indeed, to open a retail chain of stores, you need to sign a partnership contract, according to which 51% of your company will be conditionally owned by a local resident. However, he will only receive the agreed amount for his services, and not half of your money.

There are options in which the company will be entirely owned by you. To do this, it is enough just to register a legal entity in one of the free economic zones. You can also get a license for professional activities, but here you need to prove that you are a professional in your field.

Myth 8. It is easier to buy a company than to open a new one.

A ready-made offshore company can bring you a lot of problems. Therefore, it is better not to purchase ready-made licenses, but to open a business in the UAE from scratch. The only exception is when you buy a profitable company. However, it will take some time to check it out. A firm may have financial obligations that are not documented.