Technology has infiltrated every aspect of our daily lives. The evolution of innovative technologies has brought the world closer together and truly made it into a global village. Every industry big or small has directly or indirectly been affected by this technological revolution, and the way of doing business is no different. Since the internet has become easily accessible to the general population, there has been a growing demand for online stores. While e-commerce and online retail stores have been around for a long time, the latest technological advancements have made it possible and more comfortable than ever for customers to shop online. As a result, businesses, both big or small, existing, and new, must adopt this mode of business transactions and hop on to the e-commerce train to earn more.
For small businesses, this may at first seem like a challenging task. But it does not have to be one; it should be an exciting one. Getting the help of a capable company formation consultancy to assist you with business set up in Dubai can save a lot of time and money. They will help you as they understand the importance of setting up an ecommerce business in Dubai. And will help you accordingly.
For making the task of taking your small business online, we have devised a guide for you that you should peruse once before jumping head-first into the unknown.
Getting an E-Commerce License in Dubai
The first step for supplementing your small business by creating an online store in Dubai is gaining an E-Commerce license. In Dubai, the authority for distributing the business license is in the hands of the Department of Economic Development (DED).
The process of obtaining an E-Commerce business license in Dubai are as follows.
- Select a legal business structure
- Choose the location according to which the permit will be issued: Free Zone or Dubai Mainland.
- Register a trading name for your E-Commerce business
- Attain the DED for initial approval for your e-commerce license
- Draft a Memorandum of Association (MOA) in the presence of the local sponsor in case of Dubai Mainland being your chosen place of business
- Set up physical office space as directed by the Dubai business set up requirement.
- Get the Final approval by DED for your E-Commerce license.
After finishing all of these actions, you will obtain your E-Commerce business license in Dubai. Then you will be able to get to the next step, which is to open up a corporate bank account for your online business setup in Dubai.
The next factors to consider are:
Select the Type of Business
Once you have collected your E-Commerce license in Dubai from the DED, you must have a clear idea of the sort of business activity you wish to start in the UAE. Whether you are considering starting a Dubai Mainland or Free Zone business, there are plenty of business and investment opportunities in almost all of the industries of the UAE that you can choose from. The E-Commerce firm that you intend to launch will heavily depend on your interests, expertise, and knowledge.
Before deciding upon the type of business you are going to start in Dubai, you should conduct thorough research in your chosen business activity as this will help you plan how you will arrange for the human resources, capital, and other required resources for your business to become successful.
Determine The Required Level of Investment
While you are conducting your research, determine the amount of investment that is required by your business. Bear in mind that Dubai Free Zone business, you will have autonomy for a hundred percent of the investment. But, if you choose to establish your company in Dubai Mainland, a local sponsor– who is a UAE citizen– will be the owner of 51% of the total shares. Therefore think very carefully before deciding this will also impact the amount of investment you will need and the type of business you elect.
Nevertheless, keep in mind that your primary research will not be final. It is highly recommended that you seek guidance from an able business set up a consultancy to assist you in setting up your online business in Dubai. Doing so will give you the most pertinent information and support to ease the launch of your business in an effortless and stress-free way.
Consult a Business Set up Consultant
To guarantee that you have a smooth and hassle-way business set up experience, take the advice of an expert business set up consultant in Dubai. Here at KWS Middle East, we have an able team of specialists who can advise you through the complete process of setting up your online E-Commerce business.
We know that going through the many UAE business set up rules and regulations can be a dizzying and terrifying process. However, with our comprehensive know-how, we will assure you that you can start your own E-Commerce business in a hassle-free and stress-free manner. From carrying out market research and analysis to the official business launch, we have you covered.
Contact us today to book our commitment-free consultation call!