The United Arab Emirates, but Dubai, mostly emerged as a notable platform for worldwide businesses. The government of Dubai has made some significant changes to the rules surrounding company formation in Dubai by promoting ease of doing business and implementing lax taxation laws in the past decade. It is yet again on the verge of another economic leap. This populous and busy Emirate is evolving, adjusting, and adapting to more innovative schemes of production, circulation, and consumption of goods and services, which has habitually formed a fertile ground for loads of business and investment opportunities in Dubai.
The businesses already established in Dubai have the potential to reach over one billion consumers residing in the neighboring countries of the Middle East, Eastern Europe, Asia, and Africa. Before we get to comprehend the business opportunities available in Dubai, here are a few reasons as to why you should start your business in Dubai.
- Dubai is one of the preeminent destinations for business owners and entrepreneurs. The pro-business government administration and the state-of-art infrastructure encourage the growth of small businesses and large corporations.
- Due to the establishment of free trade zones in Dubai, a start-up can have many advantages, which will reduce the expenses.
- With the progressive and forward-thinking ability of the Dubai government, the business setup procedure is straightforward.
- Dubai is a rich ground for foreign investors because of its minimal taxation policy, which is mostly non-existent. Only three sectors are significantly imposed in tax; they are oil, banking, and tobacco processing.
- Business opportunities in Dubai are not just accessible to the citizens of the United Arab Emirates, but as mentioned earlier, also to the foreign investors as well. Foreign investors are wooed into Dubai because the presence of the international business is a welcome addition to the economy of Dubai.
Top Seven Business Opportunities in Dubai for 2020
If you are thinking of investing in Dubai, you will have no problems in terms of incorporating your company in the UAE. But there is a need to identify the best markets to invest in before you make that big decision. Without further ado, below are the top seven business opportunities in Dubai that will ensure investors quick returns and long-term profit.
1. Construction and/or Real Estate – Real Estate and Construction business top the list, including properties management, real estate development, renting of properties and maintaining the properties. DAFZA and JAFZA Free zones are the two primary options for business setup in Dubai where it will be profitable.
2. Retail Business – Retail industry is another business sector growing at a furious pace in recent years due to the increasing population, the continued influx of foreign visitors of both leisure and business kinds, and a robust economy. Therefore, setting up a sales office, fashion boutique, warehousing facility, or a grocery store can be lucrative.
3. Tourism and Hospitality – It is common knowledge by now that Dubai is the leading hot-spot for tourists to throng during holidays. It has managed to entice people from around the world, offering a myriad of exciting, amusing elements like luxury beaches, boutique hotels, shopping malls, residential villas, and cultural attractions like Old Dubai and Global Village.
4. Logistics and Transport – There are plentiful opportunities in the transport and logistics sector because of the ever-high need for transport facilities. Investors have the choice to either set up a local taxi service or a trans-city transport services company. The transport industry includes warehousing, transportation of goods, and people and packaging inventory.
5. Advertising / Digital Media: the advertising industry, chiefly digital media, continues to show signs of growth in general. The United Arab Emirates has recently been declared the top country for spending the most on advertising and promotion in the GCC, accounting for USD 410 million in the first quarter of 2018 alone. Within this diverse market are many home-grown success stories like fast-growing businesses like Porsche and McDonald’s.
6. Apparel – The global textile industry and especially the apparel industry, has seen striking changes in the past several years in Dubai. The wholesale clothing supply is rising worldwide in all the industry sectors, whether it be men’s clothing, women’s clothing, kids’ wear, or even baby and toddler apparel .
7. Restaurant and food Business – Dubai is a hub for people congregating from all over the world. Now, it is an essential point that a place that sustains such a diverse culture must also amuse global cuisine. Whether it is rooftop dining or something the people can order off the food truck or some cheap yet tasty eat streets, people love to indulge their taste buds. Setting up a business in the food industry must be a tantalizing idea.
Dubai has seen a swift transformation, from a comparatively small desert city into a genuine mega-city or metropolitan. If you, too, have a thirst for more extraordinary things and want to stand out in the commercial world, then Dubai is a perfect match for you. So put on your entrepreneurial hat and advance towards a new journey of money-making with any of these fantastic business ideas in Dubai.
How can we help?
Should you decide to start a business in any of the sectors as mentioned above in the UAE, then we KWS MIDDLE EAST can help you with it.
KWS MIDDLE EAST has been a pioneer in helping entrepreneurs start a business in the UAE and its Emirates. Our business setup consultants have years of expertise in this domain and can make the process hassle-free and easy. Contact us today to learn more.
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