Becoming financially prepared is crucial before diving into the UAE market. Consider:
- Initial setup costs: license application and issuance fees; government registration; office or flexi-desk rental; visa application and processing; memorandum of association drafting; initial deposit or security fund.
- Annual fees: trade license renewal; visa renewals and medical tests; office lease or flexi-desk renewal; PRO service charges; chamber of commerce membership.
- Hidden expenses: document translation and attestation; bank account opening and minimum balance requirements; notarization and legal advice; penalties for missed deadlines; courier and shipping costs.
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