If you want to rent an office in Dubai for your company, now is a great time to do so as not only is there a huge range of corporate properties available to suit all budgets, but the process has been streamlined and enhanced to make life easier.
For onshore companies registering in a Free Trade Zones (FTZ) of the UAE requirements for lease of office space or other facilities may significantly differ depending on the selected FTZ and type of activities of a company. In some FTZ lease of virtual office provided by the administration of FTZ is permitted. In other FTZ there might be a mandatory requirement to lease a real office or other business premises of a particular size.
Candidates applying for leasing commercial office space must possess a valid trade license issued by the Dubai Economic Department (DED) or a Dubai Government FTZ . Entrepreneurs who possess these licensures are allowed to establish their business from an onshore or free-zone area.
Mostly landlords in the city prefer to accept payments in the form of cheque issued by personal or company bank account in the UAE. Tenants and asset owners can negotiate with each other to decide about length of lease contract and amount paid as annual rent. The amount can be a one cheque every year, to six cheques per annum. All cheques for entire term will be handed over to landlord upon signing lease contract. Moreover, tenants are also required to pay 5% of the total rent value as a refundable security deposit.
Companies that rent an office in Dubai must pay standard agency fees at the time of signing a lease contract. There are also annual property service charges, money required to furnish empty office space, plus an amount as fee to obtain approval from the government. Total expenses depend upon the size of the property and type of fixtures chosen to renovate and equip the space.
When you look for an office to rent, costs aside, you also need to think about whether the space suits your needs. Ask yourself:
Is there room for my company to grow?
Any company must consider not only its immediate needs, but also growth and other factors that could change space requirements over the course of the lease. If you can't afford to take extra space to give you room to grow, try to negotiate a shorter lease term or add language to the lease that gives you the first right of negotiation on any adjacent space that becomes vacant.
Is it the right location for my key employees?
Consider where your key employees live and whether the space is convenient for them. A long, expensive commute may push them to seek employment elsewhere.
Is the location convenient for clients?
You also want your office to be accessible to clients, as people may not be as willing to travel to patronise your business. If you leave a city location for a cheaper space out in the desert somewhere, consider whether the lower expenses will make up for the possible loss of clients. Even in the age of video conferencing it is still important that face-to-face meetings be manageable.
ext year's tax changes look like they will have a minimum impact on the real estate marketThe new tax era in the UAE is approaching, as the 5 per cent GCC-wide value-added tax (VAT) comes into play ne ...
The New shopping mall will be spread over 2.3 million square feet and contain 300 ..
The UAE's capital's major real estate extravaganza opens its doors to 1000's of ..