Rukshian Balasubramaniam | How to Avoid Waste Money When You Do Start-Up

 

Starting your own business in one of Dubai Free Zones may be one of the biggest decisions you'll ever make. That's why it's vital that you go into the process with your eyes open and are fully aware of exactly what you're signing up for.


 

Rukshian Balasubramaniam | With that in mind, here are five key questions to ask your company setup consultant before signing on the dotted line.

  1. Is this the total price? Many providers will draw you in with a headline license price, before tagging on hidden fees further down the line. Before you commit, make sure you confirm that the price quoted now is the final price you'll pay, including medicals, Emirates ID's, and PRO fees.
  2. Is your provider flexible? Many authorities allow license upgrades when things are going well, but refuse when you ask for a downgrade to save money when things are harder. Ensure you choose a provider that allows you this very important flexibility, as businesses often go through cycles.
  3. How much is my renewal? It's a good idea to establish how much your annual renewal fees will be upfront. It's most advisable to look at your total cost over a 2 or 3 year period when making comparisons.
  4. Do you receive ongoing support? To ensure you're getting value for money, it's best to check what level of after-sales service and ongoing business support, if any, is provided.
  5. What are my cancellation fees? It's such a positive time when you're setting up your business, so no one wants to consider a worst-case scenario. But it is important to also compare cancellation fees between providers to ensure that if you ever consider making a change, the associated fees won't break the bank.

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