More and more businesses and companies in the UAE look for the ways to keep their properties and interests safe from violence, robberies, and other delinquencies. With the increased need for security concerns, there are more business opportunities in Dubai opening up for entrepreneurs who want to start a security company in UAE.
According to US Commercial Service of US Department of Commerce Report on security industry in UAE, the country will see a growing security industry in coming years which is propelled by a growing and diverse array of initiatives that includes launch of UAE civilian nuclear energy program, the ongoing rollout of mega-projects such as the Midfield Terminal Complex at Abu Dhabi International Airport, and high profile events such as the Dubai Expo 2020.
According to the report, UAE is expected to nearly double homeland security spending over the next decade, from $5.5 billion to more than $10 billion.
If you are an entrepreneur who is passionate about personal security and want to help others feel more secure in their homes and businesses in Dubai, here is our guide to security services company formation in UAE.
Steps to Start Security Services Company in UAE
1. Create a Business Plan: A clear and well formulated business plan is vital for success as an entrepreneur. A few key areas to consider are your initial costs, your target market, and how long it will take you to gain profits.
2. Select Your Company Type: The United Arab Emirates offers several company formation options operating within the various jurisdictions. Each jurisdiction requires decisions to be made depending on the type of entity and the different types of offices/warehouses. You have to decide which type of legal setup you are going for. Incorporating a legal business entity in UAE prevents you from being personally liable if your security guard company is sued.
Whether you want to start a mainland business or establish a free zone company in UAE, more questions will arise once you begin to look at incorporating in UAE. Business Formation Dubai is here to provide information relevant to you.
For all documents required for business registration in Dubai, Business Formation Dubai assists its clients in submitting the application and documents to the relevant government authority, reserves the proposed company name and also assists its clients in securing office space that suits clients’ needs or secure a lease agreement with the landlord.
3. Obtain necessary permits and licenses: If you do not have necessary permits and licenses in UAE, it will lead to heavy fines, or even cause your business to be shut down.
4. Open a business bank account. A dedicated checking account for your security guard company in UAE keeps your finances organized and makes your business look more professional to your customers.
5. Set up business accounting. Record your various expenses and sources of income. Both are essential to understand the financial performance of your business. Keeping accurate and detailed business accounts also greatly simplifies your tax filing.
6. Get business insurance. Insurance is highly recommended for all security services business owners. If you hire employees, workers compensation insurance may be a legal requirement in your area.
7. Define your brand. Your brand is what your company stands for, as well as how your business is perceived by the public in UAE. A strong brand will support your business stand out from the competitors.
8. Establish a web presence. A business website allows customers to know more about your company and the products or services you offer; therefore you should build a website. Social media is also a great tool to attract new clients or customers.
For more information on business setup in Dubai and across UAE, contact us at Business Formation Dubai. We provide complete company formation and business support services in Dubai and across UAE. Visit our website or send your query at firstname.lastname@example.org.