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If you are thinking about opening up and starting a business in Dubai there are some things you will want to take into consideration before you take the plunge and try to move to the United Arab Emirates (UAE) to work on your new business venture.

If you want to start a business in Dubai instead of looking for job in Dubai, you should know that the process of doing just that is rather complex and risky compare to careers in Dubai. It is imperative that you have some local knowledge from the start of things through job opportunity in dubai. It is also a good idea to have an experienced local lawyer that before you jump in too deep with your business idea, you should gather as much local knowledge of the region as possible. You should especially look into the industry that you are interested in working in with your business. You will need to develop a viable business plan for your business that includes forecasting and a survey of current market conditions as many expats in Dubai having difficulty find job in dubai.

You should already have investors in place for your venture if possible. The law states that you are required to have a local partner in Dubai that holds the majority interest in the company. This means that the partner can control the business and it can be an individual or a company. The partner does not have to contribute financially to the start up business. You will need to register your business as well. Once it is registered you will have to show proof of sufficient financial resources to invest to the Ministry of Commerce. The amount you need to have tends to vary but it somewhere between $10,000 and $50,000. This amount is used as a guarantee against liabilities; however you are allowed to withdraw it after you have shown that you have it.

New business ventures are actually encourage by the local government. Export and manufacturing are the industries that are offered the most support by the government.

As an alternative to starting a business you can also buy a business that is for sale. This is a much simpler process. You do not need to have capital or sponsorship in place. You simply need to agree on a price and then complete the transfer paperwork. You can visit a UAE local chamber of commerce for more information.

When you are doing business in Dubai you should know that the Arabs are experts at bargaining. They are known to rarely say no to a direct business proposition. And if you are told that someone will think something over then you can expect for the real answer to be no.

Business in Dubai can be structured as LLCs, private companies or other types of companies.

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If you have employment in Dubai and are considering a move to Dubai to live and work in the United Arab Emirates (UAE) then you may be wondering what the cost of living is like in Dubai and if you will be able to live well enough on the salary that you have been offered to come to Dubai even the salary in Dubai is of lucrative. Generally you will find that the cost of living overall is actually quite similar to that of other European countries.

Expats in Dubai will notice straight away the lack of taxation is quite noticeable in the cost of goods and services, which makes these sorts of thing generally less expensive than what most expatriates are used to paying for these items. However, the cost of housing seems to be quite expensive for some foreign workers when compared to what they are used to paying in their home country. Imported foods can also be quite costly. While internationally recognized brands may be more expensive you will find that local and regional brands are quite reasonably priced. As with most places, clothing is as expensive as you make it with the designer brands having a costly price tag. One item to note is that you will not need to purchase any winter clothing since summers are terribly hot and winters are warm as well. Alcoholic beverages are priced slightly higher than normal European prices but electronics tend to be cheaper on average as import costs are lower in Dubai.

Utilities are subsidized by the government which means you benefit by getting inexpensive utilities such as water and electricity. This means that utilities are considerably cheaper in Dubai than in other European countries. International phone call costs are also regulated by the government in order to keep costs low and encourage international business calls.

When you are in the process of negotiating a work contract your prospective employer should provide you with up to date information in the cost of living in the region where you would be living. You can use the following information as a guide for the monthly cost of living in Dubai.

For a single person, the rental cost of a one bedroom unfurnished apartment in Dubai is around $900. You can expect to spend around $450 on food and $225 on utilities, which includes electricity, air conditioning, water and sewage costs and telephone charges. Dining out and other leisure costs can average around $450 and transportation costs around $75 for the month. Insurance costs are around $100 for private health insurance, travel and car insurance.

For a couple, the rental cost of a two bedroom unfurnished apartment in Dubai is around $1050. You can expect to spend around $750 on food and $300 on utilities, which includes electricity, air conditioning, water and sewage costs and telephone charges. Dining out and other leisure costs can average around $450 and transportation costs around $150 for the month. Insurance costs are around $150 for private health insurance, travel and car insurance.

For a couple with two children, the rental cost of a two or three bedroom unfurnished apartment or villa in Dubai is around $1200. You can expect to spend around $1050 on food and $450 on utilities, which includes electricity, air conditioning, water and sewage costs and telephone charges. Dining out and other leisure costs can average around $600 and transportation costs around $150 for the month. Insurance costs are around $225 for private health insurance, travel and car insurance.

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When you arrive in Dubai to live and work in Dubai, one of the first things you might want to do is see about getting a local banking account. There are many choices when it comes to banks in Dubai and you can choose from regional, international and local financial institutions.

There are a few different categories that banks in Dubai tend to fall in. Some banks are clearing banks, some banks are merchant banks that provide investment capital to institutional investors in Dubai, some are investment banks and some are retail banks.

Dubai investment banks are for high net worth individuals that are interested in having someone perform the service of portfolio management. Retail banks are also known as high street banks and are there to serve the masses. You will not find savings and loans banks or mutual building society banks in Dubai. You can get the services that these types of banks traditionally offer at regular banks in Dubai.

Unless you are Muslim you will not be a part of Islamic banking. Because the teachings of Islam are against interest, the centralization of funds within a bank is the core of Islamic banking. With this core, the funds are used to finance an investment that produces a return with is shared with the people that provided the funds for the core. But as a foreign worker you will simply be utilizing a standard deposit account at one of the international banks in Dubai. You will likely see international banking names that you recognize such as Citibank or British Bank. Banks are eager to attract new customers and often issue loans with a quickness.

While some banks do offer drive up service, it is not the norm to do business quickly in this region. Remote areas will have mobile banking facilities available for use. If you work in a large industrial complex there will probably be a bank on site at that location.

While bank operating hours vary by region, hours are normally from 8:00 am to 1:00 pm from Saturday through Wednesday. Most banks re-open from 4:30 pm to 6:30 pm on these days. On Thursdays most banks are only open from 8:00 am to 1:00 pm and are closed on Fridays. If you are using an airport location then it will likely be open 24 hours a day. Banks in Dubai do close for public holidays.

While there have been some notable banking scandals in recent history in Dubai, the banking industry is quite solid and well supported. Regulations exist to prevent any major falls of banks in the future.

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If you got a job in dubai uae and are preparing to move to Dubai to live and work you may be wondering what type of money is used over in the United Arab Emirates (UAE) and if they take your currency. When you are in Dubai you will be spending and earning (if you are working) money in the form of the UAE dirham. You will see the UAE dirham abbreviated as either AED or Dhs. The UAE dirham is linked to the United States dollar, which means that it is susceptible to the fluctuations of the American dollar.

Where the American dollar is divided into 100 cents, the UAE dirham is divided into fils. The coins you will encounter are available in 5, 10, 25 and 50 fils and AED1. Bills or notes are available in AED 5, 10, 20, 50, 100, 200, 500 and 1000. You can use a currency conversion site like XE to see what the current exchange is for the UAE dirham. As of writing this, for 1 USD = 3.67260 AED. You will want to find a currency exchange counter before arriving in Dubai so that you arrive with some local currency in your pocket. This is helpful as you may need it for a purchase in the airport or for a taxi or other transportation costs. You can do your currency exchange at the Dubai airport but it is no secret that you will get the most unfavorable exchange rate at those counters. City center financial institutions tend of offer the best exchange rates as hotels also offer horrible exchange rates.

Currently there are no restrictions imposed on the import or export of money in and out of Dubai. Anyone that has a residence visa in Dubai can open a bank account in Dubai and transfer out or receive funds. You will not encounter any declarations of currency at borders. Retail banks in Dubai will transfer out money in any currency and to any destination. You may want to shop around when transferring money as the various banks offer different exchange rates and commission charges. There are also exchange companies that you can utilize and they often offer more attractive rates than the banks. If you are transferring a lot of money try and ask for the commercial exchange rate which is better than the published tourist exchange rate.

International money transfers are an expertise of the banks in Dubai as the cash flow of money being transferred out has been a profitable industry in Dubai due to the number of foreign workers. Expats in Dubai often send out the bulk of their earnings to their home country or offshore bank accounts to avoid income taxes.

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While foreign workers do have access to the public health system in Dubai, it is advisable to have private health insurance so that you can go to private hospitals or doctors if you prefer. To be able to gain access to the health care system A Guide to Dental and Health Insurance in Dubai  in Dubai, all foreigners and nationals of the United Arab Emirates (UAE) are required to be in possession of a health card.

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A Guide to Dental and Health Insurance in Dubai

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