Before establishing your company in Sharjah freezone SPC, several important aspects need to be considered before you start working there. For one, the UAE working week is a four-day one that includes Friday prayers. Some service companies will operate on Saturday. Another aspect is cash flow. While operating in a different country, it is important to manage cash flow carefully to ensure that you don’t run into any unforeseen problems later. If you don’t have any contacts in the region, you’ll need to engage the services of a local professional to guide you through the complex process.
Know the rules and regulations before starting a business:
UAE businesses are required to comply with UAE regulations and laws. Regardless of the industry, it’s important to know the rules and regulations before starting your business in the UAE. For example, the country follows a value-added tax (VAT) system that was introduced by the Gulf Cooperation Council in January 2018. VAT is a 5% rate on goods and services. While this is an improvement over the past, it can also be difficult to implement in your company.
Check the relevant authorities and seek advice:
The UAE is an international business hub. As a result, the laws in each country vary. It is important to check with the relevant authorities and seek advice. There are numerous banks in UAE, it is important to register your business with the right bank as choosing the wrong bank can lead to a lengthy and frustrating experience for your company.
Be aware of Vat laws:
If you are planning to set up a business in Sharjah, you should be aware of the VAT laws and procedures. As a Muslim country, the Emirati people are very religious and their businesses tend to be relationship-driven and family-based. They appreciate compliments and are patient with small talk and relationship-building. For this reason, a local sponsor is very helpful in your business.
Be sure to set up a bank account:
Before opening a business in the UAE, you should set up a bank account for your business. If you want to conduct transactions in UAE, you must first choose a limited liability company. A limited liability company is an excellent choice for a new business. Its name should be easy to remember. If you do not want to get into trouble, consider incorporating your company in another country.