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Oil prices have slightly edged higher on China's factory data but are on track for a weekly loss.Brent crude futures were down $0.27 at $59.89 a barrel, while US West Texas Intermediate (WTI) crude futures were down $0.32 at $54.50 per barrel, reported Reuters.

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Setting up a business in Dubai involves several steps, depending on the type of company you want to establish. Dubai offers various options for company formation, particularly in its Free Zones or Mainland areas. Here's a basic outline of the process for both: 1. Decide on the Business Activity * Determine the nature of your business (e.g., trading, services, consultancy). This will impact the type of license you need and the business setup requirements. 2. Choose the Company Structure * Mainland: For businesses that plan to operate in the local market and require a local sponsor. o Options: Sole Proprietorship, LLC (Limited Liability Company), Civil Company, Branch Office. * Free Zones: Special economic zones that offer various incentives. o Options: Free Zone Company (FZC), Branch Office, or Representative Office. * Offshore: For businesses wishing to establish a presence for international trading without being based in the UAE. 3. Business Name Registration * Your company name must comply with UAE naming conventions and should be approved by the relevant authority. 4. Choose the Location (Mainland or Free Zone) * If you're considering Mainland, you need a local sponsor (UAE national) who will hold a 51% share in the business unless it's an activity that allows 100% foreign ownership. * Free zones allow 100% foreign ownership and offer benefits like tax exemptions, simplified paperwork, and no restrictions on repatriating profits. 5. Apply for the Trade License * Submit the necessary documents (e.g., passport copies, business plan, proof of address) to the appropriate authority based on your business structure (Dubai Economic Department for Mainland or specific Free Zone Authority). 6. Obtain Approvals * You may need additional approvals from government entities depending on your business activity (e.g., health, tourism, education). 7. Lease Office Space *Office space is mandatory in the UAE - https://helensons.ae/

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