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March 09, 2020
Starting a new business, it is important to maintain cost-savvy balance as your company unveil. Until the point with 300%-400% profit, you may want to keep the expenses to minimum. Why not consider saving where it’s not necessary to spend extra? ) Have a look at my tips for a startup and feel free to message me for more insights.
1. Choose an arabic name for your company, because a foreign name to be written in your license would be charged extra AED 2000 and charged yearly during license renewal.
2. Choose a cost effective reliable local sponsor/agent for your business who would also bring new clients and help to grow your business. Choosing a reliable local sponsor/agent is a priority.
3. As per the UAE Law any mainland company in Dubai should pay an accommodation allowance for each of its employees and partners. If they are already residing in Dubai, you can save by submitting their residence EJARI/Title deed copy and DEWA bill copy in the DED Revenue Department.
4. Consider hiring employees with their own visa/part time. MOHRE is allowing any establishment wishing to employ a male or female worker residing in the UAE under his/her relative’s residence, with the permit being valid for two years.
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