What do you need to do or think about? What are the best options?
There is no one answer to these very important questions. People will always have a broad range of problems and situations, and there are an unlimited number of life factor combinations to consider. Whether you want to retire, expand your business operations or you just need a change of scenery, you really need to think about your options and do a sound analysis.
How can you settle in to a place? How long can you stay there for? What about inheritance or the property laws? Questions such as these are endless, but the essential question is how do I go to, and stay in, Dubai?
One of the options would be to bring your business to Dubai by setting up an office or branch here. This can take only one week in certain cases, and up to three weeks in others. From these businesses, you are able to secure visas to remain resident in the country for between one and three years. These residence visas are renewable and you will be able to stay in Dubai for as long as you please, as long as you are not out of the country for more than six consecutive months.
Your main considerations, from a business perspective, should focus on whether you have sufficient capital to invest and how this will be the best place to invest your money. You also need to think about who the directors will be in the new company and the implications, if any, on tax in your home country. It is important to note that being in another country does not always preclude the payment of taxes in your home country. In addition, a sound business and industry analysis must be carried out, enabling
the development of a business strategy that is fitting to the Middle East. Ever more important is the business structure which you chose to take, which will have implications on the shareholding, liability and functionality of a business. Long terms goals should be considered before making such a decision, as it is important to plan ahead and use your business structure to the benefit of you and your business.
In addition to the above, once you choose to move to and live in a place, it is extremely important to understand the business needs within the region and to develop accordingly. Although being able to live, and work, in Dubai is extremely important, consideration must be given to the succession planning for your business in the future.