Starting a new company can seem to be a daunting task for many new startups, especially in the UAE since there are so many jurisdictions.
Each of these are different in their own way with regards to documentation, requirements and procedures. Also, the cost for setting one up varies from one to another.
Often many new investors without much research; purely based on saving some money set out to do the process themselves. In the end, they find that it is not so easy if the free zones are not centrally located or they have a complicated process.
Some investors do approach consultants who will basically charge nothing for their consultation and often mislead clients with the information and prices just to engage them. This can lead to one having obtain a license or company which might not suit their purpose.
As it is also not possible to change jurisdictions from one to another, you can find yourself in the wrong end of the deal and end up spending more trying to find a suitable solution.
Finding the right expert is very essential for all new startups especially small businesses since they have limited budgets and need the correct guidance and advise.
The more established consultants may charge more than your normal documents clearing shops, but you can be confident of the information and solutions you receive.
With the ever-changing model of doing business worldwide, this has also bought in new dimensions where not just the licensing matters.
Factors like jurisdiction, banking solution, taxation, withholding tax, Value Added Tax (VAT), residency status, Tax domiciliation, succession plan and others can make or break a business if not planned carefully.
Therefore, consulting a capable corporate services expert would be the first step when venturing out to setup a business.
For all your company registration requirement log on to https://www.pmcsolutions.me/business_setup/