# Virtuzone business setup offer



## ArabianNights (Jul 23, 2011)

Hi All,

Would appreciate any opinions on this offer of setting up business with virtuzone. I went in and had a meeting with one of their people about the choices available. Basically, they said that they can provide me with a local sponsor to set up on Dubai itself. Usually, I would need to fulfill capital requirements of around 300,000AED to set up on Dubai outside the freezone, as well as have a sponsor. They say that through them, I do not need to show cap. requirement, they can provide me with an Emirati sponsor, who will sign a contract to say that I have full control of the business. Also, one of the requirements of the government, is that I have to have a tenancy agreement for office space - initially, it would be good if I could work from home, and just rent out space for any meetings etc so having a physical office to begin with is not something that I need. Virtual Zone have a type of flexi desk system, where I can go and use a desk, if it is available, when I need it. So, they will provide me with a tenancy agreement to an office, which they will show to the government and I will only pay 5% of the yearly office rental rate. Here is the breakdown of what I would be paying to start up, there are 2 options:

15,000AED annual sponsorship fees

7,000AED One time registration fees

20,500AED yearly commercial license fee

TOTAL = 43,500AED

If I pay this upfront, I get a 5% discount, so it becomes 38,500AED

If I want to pay in installments, the breakdown is:

First installment amount 21,000AED which is the 5% of the annual office rental plus 7,500AED 

7,500AED for a further 3 installments



Any advise on whether this is a good business start up in Dubai or not, would be helpful 

thanks


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## RoxiRocks (Aug 16, 2011)

What type of business is it?


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## ArabianNights (Jul 23, 2011)

Sorry, I just saw this. Its Middle Eastern ladies fashion


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