ISTADAMA – THE COST-EFFECTIVE SOLUTION for BUSINESS
Dubai is a city that constantly upgrades itself to cater to the requirements of people and offer them the best in every field. Trade and Business play a very vital role in Dubai Economy and DED constantly upgrades its services to meet the requirements and demands of people. Seeing the current Global Economic situation Department of Economic Development, Dubai (DED) launched the ISTADAMA Desk solution, translated as Sustainability in Arabic; Istadama is a revolutionary solution to boost Local Economy and minimize overhead costs.
Today if one wants to renew their DED trade license or register a new trade license, they do not require a physical Office. They can lease out an Istadama Desk from DED approved Business Centres. By availing this facility, a SME can lower its fixed cost of having a trade license by 70%. Istadama is allowed for most of the activities barring a few, where a Serviced Office or Physical Office is required. If the Istadama is taken from a registered DED Approved Business Centre, Ministry of Labour inspection can be done, and a Bank Account can also be opened.
BIZCITY Business Centre offers Istadama,Serviced Office, Co working Space and Meeting & Conference Rooms for short term / long term lease. Our Istadama Contracts are annual (half yearly in rare cases) and the dedicated desk is NOT subleased to anyone else. The client can physically come and use their registered desks and other Business Centre facilities. Furthermore, Bizcity Istadama is approved by Banks as we have garnered a reputation of not cancelling contracts and re-leasing the same desks to multiple people.
Re-leasing the Istadama desks to multiple people is a crime and can result in huge penalties. One must be extremely careful in choosing their Business Centre as some people offer extremly cheap options for providing Istadama and serviced offices. This they can afford as they cancel the contract within a Month, without informing the client and re – lease the same desk / serviced office to someone else. This can create multiple problems and is a primary reason banks refrain for opening bank accounts on Istadama Contracts. Ideal Istadama Contract starts from AED 10,000/- per annum and goes up to AED 15,000/- per annum depending on the add on services chosen by clients.
With this cost-effective solution, a person saves up to AED 70,000/- to 100,000/- which was the rent amount being paid annually for a registered office. In these trying times such solutions enhance the spirits of every budding entrepreneur and SME’s.