The world of business is currently facing a static economic growth all around the globe. Although the UAE is still considered as one of the best locations to do business despite the GCC businesses being significantly affected by the oil prices.
A recent survey was conducted to identify which were the best states for business set up in terms of the cost and time it takes to establish it. When assessing the cost, the survey included, government approval cost for the business license, office rental charges, employee visa, warehouse and other related factors.
Setting up a business in the UAE
When it comes to setting up a business in the UAE, both free zone and mainland provide an expectational environment with numerous opportunities for a startup companies. If an individual wanted to start a business related to general trading in a free zone area, then based on government free, the best free zone in terms of having the lowest cost would be Um Al-Quwain.
However, if the individual wanted to start a business in normal trading, then Ras Al-Khaimah would be their best option as it is the most economical free zone in the UAE. This free zone also provides several options when it comes to having a normal trading license, depending on visa requirements.
for more info : Ras Al Khaimah Free Trade Zone Company Setup
The most economical free zone for a consultancy service business would be also be Ras Al-Khaimah. Ajman free zone also provides many opportunities for management consultancy firms as it has a central location, which offers the firm better connection with other emirates. Ras-Al Khaimah and Fujairah offer E-commerce license (Business in fujairah freezone) for a very reasonably low cost.
Cost should not be the only deciding factor when it comes to choosing which free zone or mainland area is the best to start a business in. Other factors such as the availably of resources and time required to get approval of the license, also contribute largely to the incorporation of a business.
Peninsula Business Solutions (PBS)
A knowledgeable consultancy firm such a Peninsula Business Solutions (PBS) can help individuals identify the best place to set up their business. Whether it be a free zone or mainland, PBS can evaluate the business model, as well as take into consideration the factors mentioned above and help incorporate the business in the most efficient and effective way possible.