How to choose a reliable agent to set up in Dubai?
To set up a company in Dubai is not as easy as advertised on the internet. Foreign investors are often confused by many answers given by different agents. Just to name a few: why the prices quoted by different agents are way different? why do some people say that the costs will be around 10,000-20,000 AED, while the others say that they need 20,000-300,000 dirhams? What is the accurate time required for the registration?
There are many reasons for such differences: different types of companies, different places of incorporation, different activities, and different understanding on what the company formation means etc. As it is unfeasible and doesn’t make sense for investors to learn and try to answer all the questions by themselves in a short time, most investors would like to have someone who already knows all these answers to help them. Hence, back to the topic of this article, key is how to choose a professional and “reliable ” agent.
Generally speaking, a “reliable” agent is usually not the one offering the lowest price. Instead reliable agents are offering relatively higher prices, as they wish to take care of clients on many issues clients definitively will come across and avoid any “surprises” or problems to the largest extent possible. What the reliable agents pursue is the best cost-effectiveness. Another truth is that “bigger is not necessarily better”, because to set up a company in Dubai is more about services provided by some specific persons, what matters is the qualification and experience of the people who is handling your case.
In this article, we would suggest our clients to think about a few aspects before they decide on what agent is best for their company formation in Dubai.
First, whether the agent can give in-depth analysis on different company types and legal forms in Dubai. If one agent only knows “offshore company” or “”sponsor/DED/Mainland company”, mostly this agent is not knowledgeable to help you to set up in Dubai.
Second, whether the agent is willing to compare different economic activities and choose those most suitable for your business. To know your needs is the prerequisite for excellent services. Surprisingly, many investors set up a company in Dubai and get a license containing activities having little to do with what they are doing in Dubai. The only explanation is that clients relied on the agents who didn’t spend time to understand the clients’ requirements.
Third, whether the agent know different places of incorporation. There are about 60 free zones in UAE, and there are substantial differences between free trade zones (FTZ) and free zones (FZ). Don’t live with conceptual description like No 1, The first, the Biggest, the least expensive etc. The biggest and the cheapest are not necessarily what you need. A reliable and trustable agent is always willing to share with you on the differences between different places of incorporation.
In a nutshell, to choose a reliable agent is not only about prices, it is also about what kind of services you are going to get. It is not an easy way, instead it requires foreign investors to search, inquire, and compare, and then judge with their own experience. We wish you all the best for your company formation in UAE.