Do you want to know how to start a business in Dubai? If yes, you have made an appearance in the exact digital space.
Dubai being the city of gold offers a broad range of business opportunities. Exposure and investment-supporting government make Dubai a favorable place for businesses to start a new company. Here are a few things you should know before starting a business in Dubai:
- Think of a feasible business idea. Dubai doesn’t allow all kinds of business activities. Numerous permissions are required before you start your company in Dubai.
- Choose the right jurisdiction. Dubai provides mainland business services, Freezone company establishments, and offshore business incorporation. Choosing the best jurisdiction relies on the business operations and the essence of the business you would like to handle.
- What shareholding structure you would like to have? It can be a Limited Liability Company, Sole Proprietorship, General Partnership, Partnership in Commendams, Public Shareholding, Private Shareholding, Joint Venture, Shared Partnership, SME License, Representative Offices, Branch Offices, and Limited Partnership. The choice is completely yours.
- If you wish to start a business in Dubai, you need to ally with a UAE national. However, it is quite tough to find a trustworthy and capable business partner. UAE business partner will hold 51% of the partnership.
- Register your company name with DED. First, decide on an awesome business name related to your business. Make sure that your company name doesn’t match any other company’s name. The name shouldn’t contain any offensive or defamatory language.
- Get a trade license to start your business. Where do you get a trade license? Dubai Business Zone offers A-grade company incorporation services along with the trade license and proper guidance. No matter what your budget or business is, you will get the best guidance to commence your company in UAE and beyond. Set up business in Dubai with Dubai Business Zone!
- Having a physical space to carry out your business activities is as important as getting permissions and a trade license. You can take a property on rent or buy it. It also depends on your budget.
- Prepare an MOA( Memorandum of association) with the help of a legal advisor. MOA consists of a company name clause, certified office clause, objective (or objective clause), articles clause, liability clause, working capital clause, and partnership clause.
A Step-by-Step Guide to Starting a Business in Dubai free zone
Let us see the steps for Business Setup in Dubai free zone! Before we jump on to the business setting process in Dubai, we need to know first, what is a free zone? In the free zone, you get custom duty benefits as well as tax concessions.
What are the documents required to start a business set up process?
- License application.
- Business card.
- Business plan expense.
- MOA(Memorandum of Association) and AOA(Articles of Association) documents.
- Passport xeroxes.
- Banking associate and license of the business partners if required.
Here are the fundamental steps to commence a business in a free zone.
- Define the kind of legal body.
- Pick a business name.
- Apply for a trade license.
- Arrange an occupation location.
- Obtain pre-approvals, list your business and get your trade license.
Best Business Ideas for you
- Real Estate Sector: Real estate business has a lot of demand owing to the growing population. The growing population requires townhouses, villas, skyscrapers, and a lot more. If you have enough experience, you will encounter a lot of growth opportunities. So, go for it. Before starting, get a construction trade license.
- Ecommerce solutions: Commencing an eCommerce business solution doesn’t require a mammoth investment. Growth is friendly with eCommerce solutions. Ecommerce solutions include Shopify, Magento, Zoho checkout, X-cart, and a lot more.
- Travel and tourism: Dubai entices a lot of tourists from all around the globe. Thus, the travel and tourism sectors offer lucrative job opportunities.
- Health Sector: It is almost impossible that everybody is always pink of his health. So, the health sector is always blooming. You can open a clinic or a drugstore, whatever suits your interests.
- Electricians, plumbers, and other class workers: An electrical need can arise at any time. Due to this reason, there is a wide demand for electricians all around the globe. The same applies to plumbers and other classes of workers.
- Consultancy Agency: You can open educational consultancy services. There is a huge demand for education, business, and career consultancy services. You can open any of the above consultancy companies. But get all the necessary approvals to start the company.
- Restaurant: You can open an eatery too. You know people are fond of eating. Opening a restaurant or hotel would fill your pockets. It has high chances of success and prosperity.