Businesses must take note of the UAE corporate tax registration deadlines of 2024. The Federal Tax Authority (FTA) of the United Arab Emirates has given a reminder to enterprises in this regard. It is part of the FTA’s efforts to streamline tax administration and ensure compliance in the UAE’s corporate sector.

UAE Cabinet’s Decision No. 3 of 2024 outlines the application submission timeline for registration of taxable persons for corporate tax. It does so as per the Article 51 of the Corporate Tax Law of the UAE. Juridical persons have to register for corporate tax according to the months they get approval of business licenses.

Timelines of Corporate Tax Registration for UAE Resident Companies

What are the corporate tax registration timelines for UAE resident companies?

UAE corporate tax registration deadlines are dependent on the original month of the resident company incorporation. It ensures consistency for businesses in the UAE which are established in the same months. These are the timelines of corporate tax registration for UAE companies built by resident juridical persons.

Company Licence Issuance MonthCorporate Tax Registration Application Deadline
January or February31 May 2024
March or April31 June 2024
May31 July 2024
June31 August 2024
July30 September 2024
August or September31 October 2024
October or November30 November 2024
December31 December 2024

Remember, the year of the licence issuance is irrelevant. Also, the date of earliest issuance holds significance in the case of multiple licences.

Deadlines of Corporate Tax Registration for Non Resident Juridical Persons

Which are the deadlines of corporate tax registration for non-resident juridical persons?

Timelines of the non-resident juridical persons are dependent on their status in the UAE. They can determine their status on the existence of their Permanent Establishment (PE) or the nexus. Accordingly, they have to follow this timeline to submit the tax registration applications with the FTA.

Categories of Non Resident Juridical PersonsTimeline to apply for Corporate Tax Registration
Person having a PE before 1 March 20249 months from the date of existence of the PE
Person having a Nexus before 1 March 20243 month starting from 1 March 2024
Person having a PE on or after 1 March 20246 months from the date of existence of the PE
Person having a Nexus on or after 1 March 20243 months from the date of establishment of the nexus

Time-frame of Corporate Tax Registration for Natural Persons

What is the time-frame of corporate tax registration for natural persons in the UAE?

Natural persons performing business activities in the UAE exceeding the AED 1 million threshold have to register for corporate tax. Also, its terms are dependent on their residency status in the UAE. Eligible natural persons have to submit tax registration application to the FTA as per these deadlines.

Categories of Natural PersonsDeadline to apply for Corporate Tax Registration
Resident Persons31 March of the year where business activities took place
Non-Resident Persons3 months from the date of becoming subject to tax

Penalty for late Corporate Tax Registration

How much is the fine on late UAE corporate tax registration application?

UAE companies and juridical persons missing the deadline to submit UAE corporate tax registration application, will incur AED 10,000 fine. UAE Cabinet’s Decision No. 10 of 2024 empowers FTA to impose this hefty penalty (equaling to USD $2,722). Its purpose is to encourage the taxpayers in compliance with financial regulations, by registering for corporate tax on time.

The UAE is a leading country in pursuing Eco-friendly initiatives in the MENA region. Emirates like Dubai and Abu Dhabi offer a supportive ecosystem for entrepreneurs looking to make a positive environmental impact. Business ventures in UAE amidst climate change are bringing sustainable economic opportunities in 2024.

Starting a business in Dubai that is environment friendly allows you to combine sustainability with a thriving corporate work culture. By following environmental well-being steps and leveraging government incentives, you can establish an Eco-conscious enterprise in Dubai. Accordingly, you can contribute to Dubai’s green economy and build a sustainable future.

Sustainable business sectors in the UAE to enter

Which are some sustainable business sectors of the UAE?

These are the promising sustainable business ventures in UAE amidst climate change.

Now, we take a brief look on these prospective business ventures for UAE climate change mitigation.

Environment-friendly Fashion

Modern apparel manufacturers in the UAE are using organic and reusable materials to design new clothes and launch green brands. Especially, this approach is easy to market to the younger generation, who are passionate about fashion and climate change. Gen Z and Generation Alpha actively take part in supporting initiatives that promote environment-friendly fashion and sustainable clothing.

Solar Energy Production

The solar ecosystem of the UAE is bright with over 350 days full of sunshine annually. Many innovative startups with a focus on urban landscape integration are leading the UAE’s solar energy sector. They offer renewable energy solutions like solar panel installation and wind energy systems for residential and commercial properties.

Erection of solar panels on rooftops and roadways increases the generation of clean energy. The architectural integration of solar energy infrastructure in Abu Dhabi, Dubai, and other emirates is a step in this direction. Solar energy production is greatly enhancing the renewable energy potential of the UAE.

Waste Management and Recycling

United Arab Emirates has a full commitment to responsible waste management. UAE’s Green Growth Strategy targets a 75% recovery rate of processed municipal solid waste. It offers progressive solutions like waste recycling services, composting programs, and smart garbage disposal systems.

UAE’s Federal Law No. 12 of 2018 focuses on an integrated system for waste management. It includes separation, collection, transport, storage, reuse, recycling, treatment, and disposal. Ministry of Climate Change and Environment (MoCCAE) has opened waste collection centers and launched a National Waste Management Database.

MoCCAE enforces laws requiring retailers to install color-coded recycling bins in public areas. Abu Dhabi has a full ban on single-use plastic bags, while, Dubai has a tariff on all single-use bags. Since, 1st of January 2024, the UAE is strictly prohibiting the use of plastic bags and cutlery.

Nevertheless, the UAE faces gaps in waste management due to increasing garbage generation. Partly, lack in the UAE’s waste recycling infrastructure is also responsible. So, yes garbage management and waste recycling is an incredible business opportunity for expats in Dubai.

Sustainable Tourism Services

The UAE is transforming its transportation sector by promoting eco-friendly alternatives. For instance, enhancing public commute systems with electric and hydrogen fuel vehicles. Similarly, the UAE is promoting environmental tourism services in Dubai, Abu Dhabi, and other emirates.

Dubai is offering sustainable travel packages featuring eco-friendly activities, accommodations, and activities. For example, desert eco-tours, sustainable city tours, and nature excursions. Together with providing sustainable commuting, these options greatly reduce carbon emissions.

Green Architecture

The UAE is embracing sustainable architecture in its urban development mega plan. Green buildings incorporating natural elements in Dubai and Abu Dhabi are a great example. Energy-efficient materials like smart glass are decreasing the ecological footprint of United Arab Emirates.

Desert Farming

The UAE is boosting its organic farming sector with vertical farming or rooftop gardens. Aim of this initiative is supply fresh, sustainably grown produce to local markets, grocery stores, and food restaurants. Definitely, you can leverage the room in the desert farming sector of the United Arab Emirates.

Eco-friendly Packaging

Environment-friendly packaging alternatives enables people in minimizing their environmental footprint. Moreover, biodegradable materials that decompose on their own are helpful for corporate sector. So, you can start your eco-friendly packaging business to get huge profits in the UAE.

Clean-tech Businesses

Internationally, clean-tech let’s you develop and deploy new solutions to resolve the impact of climate change. Sometimes, it is also known as green-tech, as it empowers you you to address the issues like global warming. Business ventures for UAE climate change mitigation are using clean-tech and green-tech practices.

Top Business Ideas in Dubai to become a Millionaire
Top Business Ideas in Dubai to become a Millionaire

Value of climate change mitigation businesses in the UAE

Why are UAE climate change mitigation businesses important?

An environment friendly business is the one that operates with minimal environmental impact and promotes sustainable practices. It is also known as Eco-friendly business, green business, or sustainable business. Such a business involves adopting environmentally suitable policies and strategies in all aspects of the corporate work.

For example, operations, waste management, production, and supply chain management. Eco-friendly businesses aim to reduce carbon footprint during their everyday operational activities. They do so by prioritizing ethical practices in their corporate mode of work. Essentially, they conserve resources, promote renewable energy, and minimize waste.

Sustainable businesses blend social responsibility into their operations to balance profitability with environmental stewardship. Accordingly, they use sustainable materials, energy-efficient technologies, and recycling initiatives. Green businesses also target the growth, but they don’t want to get it on the expense of the planet earth.

Advantages of UAE businesses tackling climate change

What are benefits of businesses fighting climate change in the UAE?

These are the perks of establishing an Eco-friendly business in the UAE.

FAQs about climate change resolution business initiatives in the UAE

Here are the answers to frequently asked questions (FAQs) regarding business initiatives for climate change resolution in the UAE.

How is the UAE becoming environment friendly?

With two decades of climate innovation, the UAE is home to three of the world’s largest and lowest-cost solar plants. United Arab Emirates is the Gulf region’s first country to implement industrial-scale carbon capture mechanism. UAE is working on the Net Zero by 2050 Strategic Initiative, to eliminate the carbon emissions.

Are small businesses in the UAE more Eco-friendly?

It depends, but small businesses are more sustainable than large corporations in the UAE. Because, they have a better ability to adapt to environment changes due to short decision making cycle. So, they can cover their drawback of low operational budget for climate change mitigation with their edge of early-movers.

How does being environment conscious affect a business in the UAE?

The goal of an Eco-friendly business is to enhance the company’s reputation to attract environmentally conscious stakeholders. It includes persuading new customers seeking Eco-friendly products and services in the UAE. Also, environment friendly companies look to find the business partners and investors who want to preserve the climate.

Do ecologically conscious businesses in the UAE have any disadvantages?

Environment friendly production can lead to increase in manufacturing and operational costs in the UAE. Also, research and implementation of new Eco-friendly methods requires more time. Nonetheless, its advantages are way better than the disadvantages, call for using green practices.

How big is the green technology and sustainability market?

Here are the growth estimates of the market for environment friendly, green technology, or sustainability.

Burj Khalifa, Dubai Marina, Prince Tower, and other impeccable skyscrapers make Dubai the architectural miracle of the world. These human-made high-rises require continuous monitoring and upkeep to look incredible all the time. Entrepreneurs can start a building maintenance company in Dubai to avail this opportunity in 2024.

The UAE’s facilities management industry (with value of over USD 14bn in 2023), is forecast for 10% growth by 2030. So, setting up a property maintenance company in Dubai is a highly lucrative business. Prospective building repair contractors with the drive and expertise to meet this demand have a golden chance.

You can establish a building maintenance firm in Dubai with the help of professional business setup consultants in the UAE. These business advisors take care of your documentation, legalization, visas, and licensing needs. With their help, you get your building maintenance company up and running in no time.

Process to get a Building Maintenance License in Dubai

What is procedure to get a building maintenance license in Dubai?

Follow these steps to obtain a building maintenance license in Dubai mainland or a free zone.

Necessary Documents for a Property Maintenance License in Dubai

Which documents are necessary for a property maintenance license in Dubai?

You need to submit these documents with your building maintenance license license in Dubai.

UAE’s changing weather provides opportunity for Building Repair Contractors

What opportunities UAE’s changing weather offers to building maintenance contractors?

Recently, the UAE did experience severe floods, causing significant damage to infrastructure, including buildings, roads, bridges, and public utilities. Dubai, Abu Dhabi, and Sharjah saw disruptions in power supplies, transportation networks, and damage to residential and commercial properties. After these chaotic struggles, the UAE requires the professional services of property maintenance contractors more than ever.

The weather of the UAE is changing due to global warming and excessive rains (because of cloud seeding). Afterward, the scale of the damage occurring because of rain flooding highlights the immediate action to reinforce or repair critical infrastructure. Moreover, buildings facing water damage require thorough assessment and renovation to address structural issues.

By preventing mold and decay, you can improve the resilience of buildings against extreme weather events. In case, you are planning to get into the building maintenance business, this is the right time to begin with. The economic boom of the UAE means that Dubai and other cities need residential and commercial property maintenance.

Activities permissible for a Building Maintenance Company

Which activities a building maintenance company perform?

A license for building maintenance in Dubai mainland allows contractors to perform the restoration, repair, and renovation of properties. They can upkeep, repair, and restore the walls, roofs, columns, and floors of the building. However, they can not undertake the maintenance of any internal equipment or extensions.

Benefits of Forming a Property Maintenance Firm in Dubai

What are advantages of forming a property maintenance firm in Dubai?

By starting a building maintenance company in Dubai, you can serve the both residential and commercial property owners. Building repair contractors in Dubai free zones get the attractive perk of 0% tax rate on personal income. Similarly, building maintenance contractors in Dubai mainland get numerous benefits, including total freedom to repatriate capital and profits. Whether, they’re in Dubai mainland or free zones, they’re minutes away from major industrial, residential, commercial, and financial hubs.

Things to make a Building Maintenance Business successful

Which things are essential for succeeding a Building Maintenance Business in Dubai?

Taking care of these points plays a great role in the success of your building maintenance company in Dubai.

Building Construction vs Building Maintenance

What is the difference between building construction and building maintenance?

The process of constructing, upgrading, moving, demolishing, or installing a structure, facility, or system following a plan is building construction. Whereas, building maintenance is the ongoing upkeep of properties, equipment, roads, grounds, and utilities. Also known as property maintenance, it consists of preserving but not improving buildings and grounds.

Construction of a building includes the application of the above techniques for physical plant facilities. For example, structures, utilities, excavations, landscaping, site improvements, drainage systems, roads, and additions, deletions, or modifications. Painting of new structures is a form of construction, although seemingly maintenance.

Building maintenance is a routine or recurring task. It may involve restoring equipment to a fully functional state. Nevertheless, replacements for system upgrades are not a part of building maintenance.

How to start construction business in Dubai?
How to start construction business in Dubai?

Building Maintenance vs Facility Management

How is building maintenance different from facility management?

Building maintenance involves various tasks such as cleaning surfaces, maintaining and repairing assets. The purpose of property maintenance is to ensure the safety and functionality of the residential or commercial properties. Whereas, facility management (FM) is an organizational function that integrates people, places, and processes within the built environment.

Facility management strategically improves the quality and productivity of the core business, bringing significant value to the organization in the long-term. It involves a wider range of responsibilities, such as ensuring people’s comfort, safety, and customer satisfaction. While managing budgets, coordination with vendors and contractors, and ensuring compliance with regulations is also important in facility management.

Upkeep and repairing of equipment like HVAC systems, elevators, servers, and emergency generators are also part of building maintenance. Typically, building maintenance managers have specialized skills in technical areas like MEP or HVAC. On the other hand, facility managers need broader range of skills, including managing customers, workplace management, budgets, vendors, and contractors.

How to set up a facility management company in Dubai?
How to set up a facility management company in Dubai?

Conclusion

FAQs about Building Maintenance with answers

Here are the frequently asked questions regarding building maintenance and property repairing with answers.

Is it profitable to open a building maintenance company in Dubai?

Yes, the vast number of skyscrapers in Dubai requiring upkeep, make opening a building maintenance company profitable in the UAE.

How much does it cost to start a maintenance company in Dubai?

Starting a building maintenance company in Dubai mainland costs between AED 25,000 and AED 40,000. However, several factors can influence the price of setting up a property repair firm in Dubai toward the greater side. For instance, company registration, professional license, visa costs, government fees, municipal approvals, and office space.

What is the law for property maintenance in the UAE?

Article 16 of the UAE Law 26 of 2007 states that landlords are responsible for the property maintenance. The building owners have to undertake the major property upkeep and repair tasks. Whereas, the responsibility of minor building maintenance tasks falls on the tenants.

The United Arab Emirates as a land of prosperity and affluence is full of opportunities. Dubai is not only a popular travel destination, it presents a thriving economy and business-friendly atmosphere. That’s why people want to follow lucrative business ideas in Dubai to make money in 2024.

Both foreign and local investors are coming to Dubai for turning their dreams into a reality. Dubai welcomes visitors from all corners of the world with open arms. With a culture that is amiable for expatriate business owners, Dubai has something for everybody.

The government of the UAE has built a business culture and modern infrastructure that is successfully attracting the foreign investments. Dubai is among the most sought-after destinations for business owners and entrepreneurs from around the globe.

Dubai as a business heaven for everyone

How has Dubai become a business hub for everyone?

Dubai is not just a vibrant city in the UAE, it is a hub for entrepreneurs from throughout the world. With its famous monuments, opulent resorts, business potential, and advance-level technology; Dubai attracts millions of tourists and entrepreneurs annually. These are some factors that are leading to an increasing demand for residential and commercial real estate in Dubai.

10 best Manufacturing Businesses to Venture in Dubai

The manufacturing sector of the UAE is flourishing significantly, with a forecast of 34% growth. This advancement presents significant opportunities for entrepreneurs, leading to a surge in manufacturing companies in Dubai. Here are some profitable manufacturing business ideas in Dubai to capitalize on.

Now, we briefly discuss these high-performing manufacturing business ideas in Dubai.

Metal Manufacturing

The UAE is known as the land of gold, with a 29% market share in the global gold trade. Dubai offers multiple options for dealing with gold, including producing jewelry and precious ornaments. Abu Dhabi, and Dubai are famous in the world for manufacturing and buying gold bars.

UAE’s metal industry is primarily driven by the manufacturing of aluminum and steel. The Al Taweelah Alumina refinery is one of the first in the region, investing approximately AED 3.3 billion. UAE’s steel production hit 3.2 million metric tonnes in 2022.

Automobile Manufacturing

Dubai’s automotive industry is a profitable investment opportunity due to its focus on electric and autonomous vehicles. Automobile sales in the UAE are forecast to double between 2021 and 2026, reaching over half a billion units. The after-sales market for vehicles in Dubai will reach 0.29 billion AED by 2024.

Textile Manufacturing

The prime position of Dubai in the MENA region makes textile manufacturing and retail businesses profitable and sustainable. Textile industry will grow from 0.23 billion AED in 2023 to 0.86 billion AED by 2028 at 6.78% CAGR. Dubai’s textile sector offers a wide range of products including curtains, child safety seats, luggage, and trendy fashion.

Moreover, woven goods such as knitwear are among the best-selling textile items. Textile industry contributes significantly to Dubai’s GDP, has a large Emirati/expat customer-base, and sells to 50+ countries. The annual 16 million foreign visitors arriving in Dubai contribute to the retail growth of fashion/apparel items.

Food and Soft Drink Manufacturing

Dubai’s growing food and beverage industry provides numerous business opportunities for entrepreneurs. More specifically, the specialty cafes offer unique brews and treats, while food trucks cater to the city’s on-the-go population. Likewise, healthy food delivery services cater to health-conscious customers.

Aviation Manufacturing

The UAE is opening its horizons for aerospace manufacturing and maintenance, repair, and overhaul (MRO) services. EDGE Group and Mubadala Investment Company are spearheading the aviation and defense sectors in Abu Dhabi. Dubai as a global aerospace hub is set to launch the world’s first urban air taxi service by 2025.

Plenty of airshows in the UAE are proving the growth of aerospace industry. Infrastructure development and aircraft hangar services, and ground services on Dubai and Abu Dhabi airports have a great scope. Dubai’s Sky Dome initiative of 2020 has brought investors in Unmanned Aerial Vehicles (UAVs) and drone services for transport, airfreight, and logistics.

Pharmaceutical Manufacturing

UAE’s pharmaceutical industry is experiencing growth due to population growth and healthcare awareness. Particularly, investments in the pharma businesses are helping Dubai in becoming a regional healthcare hub. Pharmaceutical manufacturing is a highly profitable side hustle in Dubai for expats, who have experience in the medical sciences.

The revenue in the pharmaceutical sector is forecast to increase by 1.64 billion AED between 2023 and 2028. Consider the drug research laboratories, and the impact increases manifolds. Pharma manufacturing and disease diagnostic centers are greatly improving the health facilities in Dubai and the UAE.

Cosmetics Manufacturing

The cosmetics industry in the United Arab Emirates is set to grow at a CAGR of 4.5% by 2025. Accordingly, the low-investment business idea of cosmetics manufacturing in Dubai offers significant potential. The high number of tourists visiting Dubai annually, makes it an attractive investment opportunity for investors seeking quick profit.

Renewable Energy Equipment Manufacturing

The UAE is investing in renewable energy equipment to meet its sustainable future vision and cater to global demand. With several projects, the country aims to generate 8.8 gigawatts (GW) of clean power by 2025. Dubai’s government is set to spend 10.69 billion AED in green energy projects.

Medical Instruments Manufacturing

The UAE is transforming itself into a medical tourism destination. UAE’s government offers incentives like tax exemptions, subsidies, and regulatory reforms to attract foreign/local investors in the healthcare industry. Dubai’s medical device manufacturing industry is attracting investors due to its expanding health sector.

Medical technology market in the UAE will achieve a revenue of USD $2.88 billion in 2024. Revenue in the medical devices market segment in the UAE will reach USD $2.45 billion in 2024. Whereas, the digital health market in the UAE is set to reach USD $626.10 million in 2024.

3D Printing and Additive Manufacturing

One of the emerging business ideas in Dubai and broad UAE is 3D printing. Dubai is embracing 3D printing and additive manufacturing technologies, due to their potential to transform traditional manufacturing processes. By 2030, the city of Dubai aims to become a global leader in the 3D printing industry.

The 3D printing sector is set to triple in size between 2020 and 2026. Whereas, the additive manufacturing market has a projection of 24% growth between 2023 and 2025. Also, the supportive ecosystem of Dubai for 3D printing innovation is attractive.

10 lucrative Service-based Businesses to Invest in Dubai

Now, coming to the point: How to start a business in Dubai that attracts the attention of the masses immediately?

To answer this, let us shed some light on some wacky, unique, way-out-there- business ideas that believe it or not only work but are profitable.

We know that some of these business ideas might make you shake your head in utter disbelief, while others will make you exclaim out loud,” Hey! This might actually work.”

And as we have stated earlier that Dubai being the land of business and investment opportunities, these ideas will not only work but as you will have lesser competition, these businesses will churn out profits sooner rather than later.

Secret of Finding a Niche Market

Before we get down to business, let us first address the elephant in the room. How or why do these wacky business ideas work?

There is no big secret behind their success,it is just that these business ideas have somehow managed to successfully connect with an under-served group of people (customers)– which in layman’s terms is also called a NICHE MARKET.

That being said let these unique business ideas inspire you to find a niche market of your own in Dubai.

Wacky ways to make money in Dubai

Broken Dolls Repair (Hospital) Shop

Staring with possibly the wackiest, most out there business idea there is: Doll repair and restoration . Basically, what happens at such an establishment is that, a “doll doctor” — an expert who is equipped with the skills required in making the necessary repairs will “treat” the doll, whether the doll needs new parts sculpted or replaced or if it needs a costume change all amenities are provided here.

Don’t be alarmed if this business idea is’ ‘ too unique” for you. To allay your fears let us assure that this business idea is indeed viable and in fact the oldest doll hospital was established in Lisbon Portugal in 1830.

The American Girl Doll store has an in-house Doll repairing service in Dubai that is currently operational in the UAE.

So, if you love dolls and have the skills to fix them, then doll repair might just be the business idea for you.

Head Lice Removal

This business idea is certainly unique and there is a market for it in Dubai’s business landscape which no one has tapped yet.

Because let’s face it head lice are out there—and there’s a 50% chance that some of them may decide that your child’s head is their new home!

Fortunately, ( or rather unfortunately in the parents case) this need to get rid of head lice immediately has given rise to businesses that offer head lice and nit removal services.

In the UAE not many people are in this business, which gives you a chance to jump in to set up your business in Dubai in this particular niche.

Mannequins for Sale or Rent

We were not kidding when we said that we will give you unique business ideas for setting up a business in Dubai. If you thought we were please review the above mentioned wack business ideas we have presented so far!

Now, on to the next: Have you ever wondered where all those mannequins that you see in retail stores come from?

Obviously, someone is making them. In a mannequin factory. So that is the first business idea that uses mannequins as their focal point.

But here we are submitting another mannequin-themed business idea, which is quite economical as well.

You can build a company in Dubai, that sells and rents out –second-hand– used mannequins to aspiring fashion designers, fashion students and tailors. And if you really want to up the ante you can sell household decor items that are fashioned from these mannequins, like mannequin leg lamp or mannequin hand candle-holder. Now, that is some out of the box thinking!

Cat Cafés

Another unique business idea that you can implement to start your very own small business in Dubai is Cat Cafes.

As we all know, spending time with animals is soothing for both the mind and the body. And if for some reason you can not keep any animals at your home then you can easily go to businesses that have them.

A good example of such a business is cat cafe. Cat cafes are places where customers go to unwind and relax by drinking tea or coffee and petting the resident cats. These cafes have long been popular in Japan, South Korea and Taiwan so much so that in order to enjoy it is advised that you make reservations ahead of time.

With the recent influx of chinese and japanese expats arriving in the UAE, these cat cafes might feel like a home away from home making them frequent your establishment more often. Thus, it will be a win-win for both the clients and the business.

Read MoreFive Tips to Come Up with a Winning Business Idea.

Mowing Goats

As global warming is on the rise, several multinational giants are taking steps to curb this extreme environmental event. Google is at the helm of this revolution, it is playing it due part by employing methodologies that are helping our Earth. For instance, it uses goats to mow its lawn and field around its California headquarters.

Mowing Goats are known to be more eco-friendly than the standard pesticides and weed whackers.

In this era where large conglomerates are obsessed with maintaining an environmentally-friendly image this might be the business idea for you.

Bed Bug Eradicator

If you have the misfortune of staying at a hotel or a youth hostel ridden with bed bugs, then you already know that there is a market for this business idea.

You can provide bed bug removal services as well as you can sell bed bug barriers that can stop the little critters from crawling into the bed. As these barriers trap the bugs from creeping into the bed while their occupant sleeps.

Final Words

Starting a business in Dubai or anywhere for that matter is seldom easy, but it can become a lot easier when you plan on doing something fun, or something you really care about. The leading entrepreneurs all emphasize on doing something you are passionate about—maybe we should listen to them!

If you are ready to set up your business in Dubai, then give KWS Middle East a call.

We will take care of all the tedious details of setting up a business in Dubai, leaving you to focus on expanding and growing your business.

Contact us and book your commitment-free consultation call today!

Or just email us your queries at : info@kwsme.com to know about all of the services provided by us- we will be happy to assist you!

The UAE is one of the most progressing business destinations in the world. Its thriving economy, strategic location, no-tax policy for businesses, and easy governmental regulations are some major reasons for the foreigners. Thus, factors like these are enabling successful businesses in Dubai for Canadian entrepreneurs in 2024.

Dubai has become the heaven for Canadian investors thanks to its business-friendly characteristics. Middle-Eastern cities like Abu Dhabi and Dubai offer limitless growth opportunities to Canadian expatriates. So, you can opt for launching a Canadian startup in Dubai as well.

This article is a great help for all Canadian citizens with an interest in company registration in Dubai. Sit back, relax, and keep reading this highly informative piece of content. Accordingly, this resource is going to give Canadians an idea of what businesses you can start, how, and why.

6 Profitable businesses in Dubai for Canadian investors

What are rewarding businesses in Dubai for Canadian investors?

These are some high-earning businesses in Dubai for Canadian entrepreneurs.

Now, we take a look on these high-grossing businesses in Dubai for Canadian entrepreneurs.

eCommerce and online retail

One of the most successful business ideas in Dubai is electronic commerce. Particularly, after the COVID-19 pandemic, online retail is providing exceptional growth, while requiring low investment. This makes eCommerce a top choice for Canadian entrepreneurs in the contemporary UAE market.

Tech startups

Dubai has become a top smart city, and is creating numerous opportunities in the tech and IT services sector. One profitable opportunity for Canadian professionals is launching technology startups. They can provide innovative technological solutions for smart projects in industries like transportation, healthcare, energy, public safety, etc.

Emerging technologies like AI, blockchain, IoT, and cloud computing can help firms advance in Dubai’s
tech landscape. Networking with industry peers, attending workshops, and obtaining certifications are crucial steps for staying competitive. Canadians can discover new potential in this dynamic area by developing human-centric mobile applications or progressive web apps.

Cryptocurrency trading

Opening a cryptocurrency trading company in Dubai is a promising endeavor for Canadian executives. Growing interest of Emirati nationals in exchanging crypto coins is a main reasons. Nevertheless, understanding compliance and regulatory requirements is crucial for legal operation of a blockchain driven business in the UAE.

Crypto licensing
Crypto licensing

Real Estate

The influx of immigrants in Dubai presents an opportunity to establish a real estate business offering commercial, residential, and industrial services.

Food and beverages

Dubai’s growing food and beverage industry offers numerous business prospects for Canadian entrepreneurs. Specialty cafes offer unique brews and treats, while food trucks cater to the city’s on-the-go population. Healthy food delivery services cater to health-conscious customers.

Canadian restaurant owners in Dubai must use fresh and high-quality ingredients. Likewise, they must implement innovative marketing methods to stand out from Emirati and other foreigner food chains. The city’s vibrant food scene requires a focus on exemplary customer service too.

Consultancy and advisory

Canadian consultants with qualifications and extensive experience can establish business advisory firms in Dubai. However, they must obtain all necessary regulatory approvals before starting their operations. Connecting with expert-level business consultants assists in easily navigating the licensing process.

Advantages of launching business in Dubai for Canadians

Which are benefits of starting business in Dubai for Canadians?

Here are the most prominent perks of establishing a venture in Dubai for Canadians.

Booming market

The UAE is a major trading hub with a non-oil foreign trade of AED 3.5 trillion ($952.93 billion) in 2023. Seamless business setup process of the UAE ranks it 16th globally for ease of doing business. As a result, Dubai is emerging as a favorable location for Canadian investors having an interest in trade.

UAE’s government is creating a favorable business environment through policies that promote growth. These include 100% foreign ownership in most business activities in mainland and free zones. Dubai Chamber of Commerce (DCCI) alone saw 67,000 new business registrations in 2023, of which over 90% were foreign.

Dubai’s air connectivity is excellent, with Dubai International Airport among the busiest in the world. The port infrastructure of Dubai is world-class, with Port of Jebel Ali having a capacity of handling 19.3 million TEUs. Dubai is a major logistics hub, with the Dubai Logistics City (DLC) working as a key component.

The UAE has several investor-friendly laws that safeguard the rights of the investors. It ranks 3rd globally for investor protection, with a score of 9.5 out of 10. Subsequently, the Emirate of Dubai provides a stable legal framework for establishing and running business.

Multi-cultural economy

Dubai’s economy is diverse, with a thriving tourism industry, a robust financial vertical, and a growing technology revolution. The non-oil sector (which includes tourism, real estate, finance, and technology) did account for 95% of Dubai’s GDP in 2023. This diversification is reducing the city’s dependence on oil exports, and is making the economy more resilient to external shocks.

DCCI reports that over 38,000 SMEs account for over 95% of all companies in the city. Dubai is taking a proactive approach to promoting innovation and entrepreneurship. Its with initiatives like Dubai Startup Hub are providing services and resources to startups (and unicorns).

Dubai’s tourism industry is set to contribute 12% of the GDP during 2024, up from 11.7% in 2023. The technology sector (including AI and blockchain/cryptocurrency) is forecast to generate $96 billion (14% of the UAE’s GDP) in 2030. Dubai is transforming, building upon 3600 tech companies in 2020, to produce $6 billion revenue from hardware/infrastructure in 2024.

Remarkable infrastructure

The world-class infrastructure of Dubai (modern airport, highway network, and advance-level telecommunication facilities) attracts a broad audience for business ventures.

Steps for Canadian expats to open business in Dubai

Starting a Canadian business in Dubai involves several steps, which we summarize here.

Conclusion

The UAE offers a plethora of opportunities for Canadian entrepreneurs to establish and expand their businesses in this dynamic market. Especially, diverse economy, central location, high-tech infrastructure, and tax-free system of Dubai are ideal for Canadian investors. Food/beverages, e-commerce, startups, crypto, realty/property, and consultancy/advisory are the most booming businesses for Canadians in Dubai.

Are you a Canadian expat looking to set up a thriving Canadian company in Dubai? The best thing you can do is to consult a reliable business establishment agency in the UAE. Also, their experts help you with the office location, document filing, licensing, visa sponsorship, and other legal services.

Canadian professionals begin your entrepreneurial journey in Dubai. KWS Middle East is right there to hold your back in this endeavor. Connect with us now to make your transformational easy, successful, and highly rewarding.

The United Arab Emirates is becoming a leader in terms of foreign direct investment for business owners. Sectors like real estate, tourism, hospitality, transport, engineering, trade of high-end commodities, and more industries are booming. Many entrepreneurs want to start construction business in Dubai to fulfill the rising demand of infrastructure upgrades in 2024.

UAE’s government is reducing reliability on the petroleum sector, due to decreasing oil reserves in the country. Especially, this decision is a blessing in disguise for Dubai, as the emirate is focusing on development on other industries. Its overall business environment, investor friendly policies, excellent infrastructure, and political stability are transforming the economy.

Together with the UAE, the broad Gulf region provides a great working environment for the foreign investors. Entrepreneurs from around the world are coming to Dubai to avail growing business potential in the UAE. Considering the need of the infrastructure modification, Dubai is witnessing a sharp growth in the construction domain.

Procedure of registering a construction company in Dubai

What is the process to register a construction company in Dubai?

This is the process to start construction business in Dubai.

Now, we take a look on this procedure to start construction business in Dubai.

Choose legal structure

Determine the legal structure for your prospective construction company in Dubai. Some options include sole proprietorship, partnership, or limited liability company (LLC). The most preferable choice is LLC, because of its flexibility and protection of personal assets.

Decide a company name

Pick a unique name for your construction company that complies with UAE’s business naming conventions. Make sure that another business entity does not hold the chosen company name in Dubai. Also, ensure that your business name is enticing for the customers as well.

Select business jurisdiction

Pick between mainland Dubai and free zones for registering your construction company. Your choice of jurisdiction should depend on your business requirements. Remember that construction companies in mainland require local sponsor(s), while in free zone they have to follow more restrictions.

Get initial approval

Seek your initial approval from the Department of Economic Development (DED) in Dubai. This approval involves verifying the chosen company name and business activities. Also, your construction business may need additional permits such as signage, environment, health, and safety.

Prepare the MoA

Draft the Memorandum of Association (MOA) that outlines the objectives of your construction company. Ensure your MoA notes down the details of your shareholders and capital structure. Notarize your MoA by a Dubai court or a notary public.

Apply for license

Submit the application for a professional license to the DED to register a construction company in Dubai mainland. Otherwise, you can file the license application with a relevant free zone authority. The professional license enables your company to legally enter contracting bids, and conduct construction activities.

Register with DCCI

Next, you have to register your construction company with the Dubai Chamber of Commerce and Industry (DCCI). It is necessary for obtaining a commercial registration for your construction business. Moreover, it empowers your construction firm to access and provide various business services.

Lease office space

Rent a suitable physical office space for your construction company. The office location must comply with the zoning regulations. Likewise, it must meet the specific requirements set by the mainland or free zone authorities.

Register with Dubai Municipality

The next step is to register your construction company with the building department of the Dubai Municipality (DM). Also known as G+1 permit in the free zones, this registration is essential for receiving necessary permissions for contracting projects. Furthermore, this building permit helps your company in engaging in construction specific activities.

Acquire additional permits

A contracting company has to obtain a civil works permit to undertake construction activities. Also, an environmental license ensures your construction operations meet clean environment regulations. You may need approvals from entities like Roads and Transport Authority or Dubai Electricity and Water Authority.

Other requirements for construction firms in Dubai

Which steps you take after getting construction license in Dubai?

These are the steps you have to follow after obtaining the construction license in Dubai.

Let’s briefly deliberate upon these steps.

Open corporate bank account

Manage the finances of your company by opening a corporate bank account in Dubai. Opt for a reputable bank that offers suitable banking services for businesses. The foreign business owner must hold residency in the UAE for eligibility to open a bank in Dubai.

Find local partner (if necessary)

Consider finding local partner(s), if you are opening a construction company on Dubai mainland. Launching an onshore contracting company in Dubai saves you from the limitations of free zone companies. However, you may have to appoint local sponsor(s) to easily navigate the construction operations on Dubai mainland.

Secure the visa (optional)

In the event, business owners of the construction company are not Emirati citizens. Then, they must apply for the investor visa or the golden card of the UAE. Also, they should apply for the residency visas of their employees, if they don’t have these beforehand.

File your VAT returns

In case, the annual revenue of your construction company exceeds the VAT registration threshold. Then, you must register for Value Added Tax (VAT) with the Federal Tax Authority (FTA) in the UAE. Free zones normally have zero VAT, whereas, mainland require nominal VAT.

Keep compliance and ongoing obligations

Keep your contracting permits active, and renew your professional license on time. Do proper auditing, maintain accounting records, and fulfill tax obligations to remain in good standing with the authorities. Hold continuous compliance with all regulatory requirements like AML/FATF reporting.

Major types of construction services in Dubai

How many types of construction services you can provide in Dubai?

Here are the kinds of services that construction companies can deliver.

Next, we briefly discuss these kinds of construction services.

General contracting

Many construction businesses act as general contractors to supervise the overall execution of the projects. Normally, they serve as the main contractor on the construction projects, or prime bidder on construction tenders. They subcontract different parts of the work to other construction firms, while overseeing the overall project execution.

Planning and design

Some construction companies work with architects, engineers, and clients to develop plans and designs for construction projects. It involves conceptualizing the project, creating blueprints, acquiring necessary licenses/permits, and getting regulatory approvals. Also, it covers preparing project budgets, and forecasting implementation timelines.

Project management

Companies doing project management oversee the entire construction timeline, from procurement of materials/equipment to hiring subcontractors, and guiding construction crews. Effective construction management ensures that the project completes on time, within budget, and according to specifications. It includes coordinating subcontractors, managing schedules, resolving conflicts, and maintaining quality control.

Design-Build

Some construction firms provide design-build services, taking responsibility for both the designing and building stages of a project. This comprehensive approach streamlines the project execution and decreases the implementation costs. Also, it improves the collaboration between the designers, engineers, and builders.

Architectural design

A few construction organizations have in-house architects to take care of the project designing. Whereas, others consult or outsource external design firms to develop architectural plans and drawings for construction projects. Architectural design service covers conceptual design, schematic design, design development, and construction documentation, etc.

Engineering services

Many construction companies deliver different kinds of engineering services. For instance, civil engineering, structural engineering, mechanical engineering, soil engineering, mechanical engineering, plumbing engineering, etc. These services make sure that construction projects are built to meet safety, performance, and regulatory requirements.

Civil engineering

A large number of construction companies take part in civil engineering works like developing roads, bridges, dams, and utilities infrastructure. They contribute a major part in planning, designing, and execution of construction and infrastructure building projects. These projects require particular knowledge and expertise in areas like structural engineering, geo-technical engineering, and transportation engineering.

Specialized construction

Some construction firms provide specialized services for specific construction disciplines or trades. It can include concrete work, masonry, carpentry, roofing, plumbing, painting, and finishing work. Also, it may cover utility installations like electrical, solar, generator, or HVAC (heating, ventilation, and air conditioning).

Site management

A few companies provide site management services for coordinating the activities of different workers on the construction place. While ensuring safety compliance, they maintain a clean and organized work environment. They help in worker management for hiring, training, and supervising construction workers with specialties like carpentry, plumbing, and electrical work.

Renovation and remodeling

Construction companies can undertake renovation and remodeling projects to update and improve existing structures. It covers both interior renovations, and exterior renovations. Similarly, it may include structural modifications, and aesthetic enhancements.

Infrastructure development

The large-scale construction firms take part in infrastructure development projects. These projects include roads, bridges, tunnels, railways, airports, seaports, utilities, and other civil engineering works. They support economic growth, connectivity, and mobility within cities and communities.

Environmental remediation

Some special-purpose construction companies provide environmental remediation services. Their offerings include cleaning up contaminated sites and restoring them to safe and usable conditions. The services can involve soil remediation, groundwater remediation, asbestos removal, hazardous waste management, etc.

Dubai departments for special approvals for construction

Which departments in Dubai issue special approvals to construction firms?

Prospective construction companies in Dubai have to attain special approvals from the following government departments.

Business prospects of construction sector of the UAE

What is business potential of construction in the UAE?

Construction business is one of the most thriving business domain in the UAE. There is a race in the GCC region for skyscrapers, and the United Arab Emirates is clearly ahead of all. Dubai is home to the world’s tallest building Burj Al Khalifa.

The world’s 4th and 5th highest residential buildings Marina 101 and Princess tower are also in Dubai. In fact, Dubai holds 5 of the Top 10 tallest buildings in the world. The UAE houses the second most skyscrapers in the world (14) after the leaders China (50).

UAE’s government is focusing on the up-gradation of civil facilities and transport infrastructure. The UAE has undertaken USD 7.8 billion project of expansion of the Dubai International Airport. In addition, there is a project worth of USD 6.8 billion for the redevelopment of Abu Dhabi international Airport.

To promote business, industry, and tourism in the UAE, the government is taking several unique initiatives. For example, creation of man-made artificial islands such as Palm Jumeirah. Other projects are also under progress; namely Palm Jebel Ali, Deira Island, Maritime City, and many others.

Importance of formation of construction company in Dubai

Why incorporate a construction company in the UAE?

The number of opportunities in the construction sector in Dubai are growing daily. Nowadays, formation of a construction company in Dubai is one of the most profitable ventures. So, you can explore the development of real estate for residential or commercial purpose.

Just in case, you are looking to start construction business in Dubai or the broad UAE. Then, you must first decide whether you want to form a company onshore or in a free zone. Formation of mainland company requires you to have a local partner who will hold company shares.

Whereas, formation of free zone company grants you complete ownership. However, it comes with a few operational limitations in comparison to a mainland company. Whatever, kind of construction company you establish, take into account the provisions of the amended building law of the UAE.

Defining the construction business

What is a construction business?

In a nutshell, a construction business specializes in turning ideas for buildings and structures into reality. Also known as a construction company, it undertakes the planning, design, development, and execution of contracting projects. It employs expert professionals including architects, engineers, project managers, and construction workers, to lead projects from concept to completion.

These projects range from small-scale interior/exterior renovations, building repairs, to large-scale infrastructure developments. For example, buildings, towers, roads, bridges, underpasses, and other civil engineering works. Construction firms vary in size and scope, but their core function is bringing structures to life from the conception.

Overall, construction organizations are shaping the landscapes and communities in which we live, work, and play. Some of them have specialty in making residential homes, high-rise buildings, commercial plazas, or developing transport infrastructure. Whereas, construction corporations provide complete services that handle all aspects of a contracting project from start to finish.

Conclusion

Our experts at KWSME can assist you with company registration, which involves preparation of application form and necessary documents and filing them with the Department of Economic Development (DED) in UAE.

For complete information on how to setup a construction company in UAE, contact our business representatives at KWS ME. We provide complete company formation services for new business setups in Dubai and across UAE. So, feel confident to visit our website today.

The United Arab Emirates is widely known as a regional hub of foreign direct investment (FDI). Expatriate investors can setup a business in the UAE in many ways. Especially, international entrepreneurs want to start an LLC in the UAE to tap into the progressive market in 2024.

Entrepreneurs from around the world come to the UAE to grab the opportunities the market presents. Because, the United Arab Emirates has a consumer base of over 2 billion people. Dubai has grown into a big business center in the Middle East in a short span of time.

A popular way of legal business setup in the UAE is the formation of limited liability company (LLC).

It is not only the investment and facilities provided but also the laws made by the UAE government to regulate all matters in such a way that allowed freedom to people while still preserving the cultural values of the city.

With growth of business in Dubai, many new topics of discussion rose to popularity as well. It is common for this to happen because people are now interested in something new and in a city like Dubai, who doesn’t want to talk about what is best for business?

The government of the UAE created many business zones to attract businesses and it has been successful in doing so. For those business owners and entrepreneurs who were not aware of the laws of Dubai, business setup Dubai consultancies started providing their services. The core services of these consultancies include company incorporation for mainland, free zones and offshore jurisdictions.

So naturally, one of the topics for people to talk about is the comparison between a Limited Liability Company and a sole establishment. We will contribute to this discussion and make things clear.

Procedure to open an LLC in the UAE

What is the process to register an LLC in the UAE?

Foreign entrepreneurs have to follow this step-by-step process to start an LLC in the UAE.

Now, we briefly discuss these steps to start an LLC in the UAE.

Decide business activity

Clearly plan the business activities your LLC is going to conduct. This is crucial as it determines the specific licenses and permits you need to operate legally. Also, it influences factors like company structure, office location, and revenue potential.

Choose your location

Select the Emirate and area where your LLC will operate. Remember, mainland and free zones in the UAE have different regulatory requirements. Business location selection depends on factors like business activity compatibility, accessibility, and cost.

Reserve your trade name

Choose a unique trade name for your LLC that is available for reservation. Check the availability of trading name through relevant UAE departments. Make sure your trade name complies with the naming regulations of the UAE authorities.

Draft the MoA

Prepare the Memorandum of Association (MoA) that outlines the ownership of your LLC. Also, this legal document will detail the company structure of your LLC in the UAE. Draft and notarize the MoA with other necessary details like shareholding information.

Get initial approval

Submit the necessary paperwork to the Department of Economic Development (DED) to establish the LLC. Otherwise, you have to file the obligatory documents to the free zone authority or other relevant regulatory body. Upon the successful review, you receive initial approval certificate from specific UAE government entities.

Prepare the LLC agreement

Draft the LLC agreement that details the management structure of the LLC in the UAE. Also, it notes down the profit distribution, and other operational aspects of the company. Notarize this document with signatures of all shareholders of the LLC.

Rent office space

You need a physical office address to register your LLC. So, lease a suitable office space that is appropriate for your LLC. Moreover, your workspace must fulfill the requirements set by the UAE authorities.

Submit application with documentation

Next, submit the application form with all necessary documents to the DED. Or you may have to file the application form with the free zone authority depending on your location. In some cases, you have to submit the application form with other specific regulatory body in the UAE.

Pay fee to acquire license

Submit the necessary licensing fees to the DED, free zone authority, or other regulatory department in the UAE. Upon approval, you will receive your trade or professional license. This license enables you to legally operate your LLC in Dubai or the broader UAE.

Open corporate bank account

Establishing a corporate bank account in the name of your LLC business is the next logical step. It helps an LLC in conducting business transactions in an efficient way. However, bear in mind that only UAE residents are eligible to opening a corporate bank account.

Register with the Chamber of Commerce (optional)

Registering your LLC with the local Chamber of Commerce and Industry is the optional step. Some business jurisdictions in the UAE require it, while others don’t. This step may vary depending on the emirate where you are establishing your LLC company.

Apply for visa (if necessary)

Foreign business owners of the LLC must have the UAE residency. Otherwise, they have to apply for the appropriate visas of the UAE. Similarly, they have to arrange visas for their expatriate workers or partners under the company’s sponsorship.

Find local sponsor (optional)

The past requirement of entrusting a local Emirati sponsor with 51% shares for LLC in mainland is not applicable now. However, some free zones in the UAE may still require LLC owners to optionally appoint local sponsors. Even, the LLC in the UAE onshore may appoint an Emirati sponsor to work as a local agent.

Ensure regulatory compliance and renewals

Make sure your LLC is properly compliant with all regulatory requirements. Likewise, keep financial compliance with FATF and other AML frameworks. Renew your professional or trade license (and other permits) annually.

Security of foreign investment in LLC

Are the investments of foreign owners of LLC secure in the UAE?

This is the most common concern for foreign entities regarding the extent to which partners in UAE Company may be subjected and whether UAE government protects the rights of partners in an LLC partnership. Article 246 of UAE Civil Code requires from partners to perform their duties according to contents of agreement fulfilling the manner of good faith. Article also specifies that “the agreement will not be limited to an obligation from contracting partner to perform which is mentioned in it, it should also embrace what is appurtenant to it by virtue of UAE law and nature of transaction.” UAE law secures partners in an LLC contract so that they perform their obligations in good faith.

Kinds of LLC companies

How many types of LLC companies are there?

These are some of the leading forms of LLC companies.

Defining an LLC (Limited Liability Company)

What is a limited liability company (LLC)?

Limited liability company (LLC) is a hybrid business entity that is a combination of a corporation and a partnership/sole proprietorship. The minimum liablity of a corporation combine with the flow-through income/taxation of a partnership or sole proprietorship. So, the partners of an LLC hold liability to the extent of their shares in the capital of the company.

UAE law regulating LLC partnerships

Which law of the UAE regulates the LLC partnerships?

There are several laws of the UAE which govern LLC partnerships in Dubai. The article 218 of UAE Commercial Companies Law characterizes the LLC formation. However, the minimum liableness is not applicable for all companies under the LLC partnership.

Forming an LLC vs sole-proprietorship in the UAE

What is better among registering an LLC or sole establishment in the UAE?

Both formation of LLC and sole establishment are the right options in the UAE. Keep in mind plenty of things to get the best results while registering an LLC or sole-proprietorship in Dubai. The decision depends on the type of business you want to run, the scale of operations, and the economic conditions.

Setting up an LLC or Sole-proprietorship in the UAE
Setting up an LLC or Sole-proprietorship in the UAE

Benefits of setting up an LLC

Which are the benefits of starting an LLC?

Let’s look at some of the rewards of registering an LLC in Dubai and the UAE.

Advantages of starting a sole establishment

What are the advantages of setting up a sole establishment?

These are the incentives that opening a sole establishment in Dubai provides.

Protection of owner rights under LLC partnership in UAE

Are the rights of owners safe under LLC partnership in the UAE?

Entering into a contract that safeguards your rights as a foreign investor, preparing a security contract that will shelter your investments and savings, appointing a partner who is inactive in the business operations in return for an annual compensation? You must be wondering whether it is possible or not? The answer is yes. With KWS ME business setup, you can have complete ownership of your business operations.

However, it must be kept in mind that the legalities regarding liability for both setups are different. You are exposed to the risk of more law suits if you are the owner of a sole establishment as this makes you completely responsible for all liabilities and debts owed.

Conclusion

Business consults provide strong investor rights and protection contracts that two witnesses from both parties sign and certify. We are the most reliable business partners in UAE. The key documents that specify your positions as partner, company formation contract, power of attorney etc. are carefully prepared and examined by KWS ME experienced professional consultants who will provide you complete security that you desire in an LLC partnership.

KWS Middle East can help you make the smart choice using its experience in guiding businesses towards success. The consultancy offers valuable advice and business solutions like mainland company formation, company registration and visa services. Other services include trademark registration and trade license services.

Some decades back, people in the UAE were only able to buy offline, just like the world. However, advancing technology has made it possible for everyone to shop over the internet during 2024. You can start an eCommerce business in Dubai to drastically increase your share of online purchases.

Nowadays, all business sectors worldwide are adopting online technology at a very fast pace. There is consumer shift from brick-and-mortar retail to online and mobile shopping. Users are fulfilling all their purchasing needs online such as from buying grocery to high street fashion or electronics.

Increasing consumer demand has driven companies to opt for e-commerce in the UAE. It brings limitless opportunities for new entrepreneurs as they have space to excel in this sector. They can begin online retail businesses to serve the growing number of online buyers.

Especially, customers can purchase all these items online from the comfort of their homes. Therefore, the demand for online stores in the UAE is also rising. UAE’s e-commerce sector hit $10 billion in 2018, tremendously growing up from $2.5 billion in 2014.

Defining the electronic commerce (eCommerce)

What is eCommerce (electronic commerce)?

Electronic commerce (eCommerce) is the business activity which includes purchasing and selling of products or services through an electronic medium. Today, it is not necessary for companies to have a physical store to provide their customers with goods and services. Rather, users can buy items/services online, from their houses.

After the number of online users grew, Amazon and eBay chosen e-commerce for retail purposes. Thus, the use of electronic mediums grew for buying and selling retail items. eCommerce is an emerging sector and investors globally have put in billions of Dollars which are paying off.

Platforms like Walmart, Alibaba, Etsy, Target, etc. are really changing the world of retail. Businesses in the USA, Europe, Asia, Americas, and the world are managing their e-commerce websites. They are running these apart from the physical shops and outlets that they own.

Retail companies provide a larger variety of options on online stores. It helps create business activity on website, which leads to customers visiting their stores. Overall, this helps generate sales for the business.

Business activities performed with online portals

Which are the business activities that you can perform with online portals?

Globally, online portals let you perform various types of business activities. eCommerce is the driving force that enables these activities. Let us list some of them here for you.

Electronic payment systems provide users with the ease of making payments for utility bills. They also allow the user to pay phone, internet, and retail shopping bills etc. through online banking systems. It brings to light to the Internet banking system. This virtual banking system allows people to go about their regular banking activities without having to visit the physical bank branches.

Using electronic mediums to generate sales is also an aspect of the business that new business owners have to understand. The knowledge of these few factors can help push the business in the right direction. Make the most of the increasing online users to generate more sales.

Main kinds of eCommerce businesses

What are leading categories of eCommerce businesses?

These are the chief kinds of eCommerce businesses worldwide and in Dubai.

Now, we briefly look upon these categories of eCommerce businesses.

E-trading

Companies can conduct e-trading (electronic trading) by creating an online shop with its own stock. Your company stores goods in its own warehouse. You can lease a warehouse where you will keep the stock at all times. Once, you receive the order, you can ship the products right away.

Drop-shipping

You can open a company where you will not hold any stock. Rather, you use drop-shipping to deliver products directly from the suppliers. In this type, you don’t have to maintain inventory.

Online exchange platform

A company can build an online exchange platform that brings together various buyers and sellers. You don’t have to keep inventory of the items. Essentially, you run an online system that allows the visitors to place orders on the website.

Once, you get an order, you forward the request to the manufacturers. They are fully responsible for arranging goods for shipment. Accordingly, they directly supply the items to the end customers.

Considerations before starting an eCommerce business in UAE

Which things you need to consider while opening an eCommerce business in UAE?

You have to think upon these factors to start an eCommerce business in Dubai and the UAE.

Here we take a look on these factors.

You can select from different legal forms for your eCommerce business formation. Your options are LLC, one-person company, branch of a parent company, representative office, etc. Most common are the LLCs and branch offices as they offer plenty of benefits.

These are some deliberations in this regard.

Let’s have a look on these matters.

Limited Liability Company vs Foreign Branch

In the UAE and Dubai, LLC (limited liability company) is the most common type of company formation. It provides flexibility and several rewards to businesses in terms of trade. This legal form is better for facing any future lawsuits.

A foreign investor can setup a branch of foreign office to bring a global eCommerce business to the UAE. Branch office acts on behalf of the parent company and gives 100% foreign ownership. Also, you must keep in mind several points while setting up branch office in Dubai.

For example, activities of branch office in Dubai, tax on profits in home country, appointment of national service agent, etc. Think about appointing a local sponsor to smoothly establish a branch in Dubai. Pick from LLC or branch office according to your use case.

Free Zone vs Onshore Company

Among these two, free zone company formation is more cost effective solution for e-commerce business. It gives complete ownership, complete profit repatriation, personal, corporate, import/export tax exemption, and no restrictions on currency. A limitation on free zone companies is that they can’t trade outside the respective free trade zones.

If they intend to, they must hire a local distributor for trading onshore. Therefore, onshore business setups are much more favorable option for eCommerce businesses. Because, e-commerce companies on mainland can freely trade with the users in Dubai and the UAE.

A free zone company formation is sufficient for a drop-shipping business, as it doesn’t require storage and delivery of goods. Also, free zone is suitable for online exchange platforms, as they just enable communication between the buyers and the sellers. E-trading businesses require a local or mainland company formation, as you need to distribute/deliver goods which you’ve sold online.

Costs and operational budgets

Along-with the type of business setup, your budget determines which option you can go for. The cost of a local eCommerce company setup is high in the UAE. Also, other operational costs are steep, as you have to lease a warehouse as well.

For an e-commerce startup in Dubai with no external funding, it is a little difficult to manage in the beginning. Incorporating an eCommerce company in a free zone is more feasible, as it requires minimum investments. Also, you can pick a free zone in one of the northern Emirates, to further decrease your expenses.

Secure online payments

Whether you are selling products or services, you must establish a secure online payment system. So that you can safely receive credit card, debit card, cash, PayPal, and other types of digital payments. It may sound costly for new startups but you have to invest proper time and money for this measure.

Because, getting it wrong is harmful for your business image. Also, the number of online payment options and digital finance partners are increasing in Dubai. Therefore, you have multiple options to consider which one suits your business and falls under your budget.

Think about customs duty

The UAE imposes 5% customs duty on the goods you import to the country. Free zone companies are exempt from import and export taxes. However, it is only applicable when you are selling your products in the respective free zone, whether online or offline.

In case, an eCommerce business setup in a free zone wants to sell online to the UAE market. It has to partner with local distributors for delivery of items to the users. Thus, import taxes will apply on it as well.

Procedure to obtain an eCommerce license in Dubai

What is the process to get an eCommerce license in Dubai?

Here are the steps to acquire a license to start an eCommerce business in Dubai.

Get an eCommerce license in the UAE
Get an eCommerce license in the UAE

Next, we have a look on this step-by-step process to start an eCommerce business in Dubai.

Select trade name for your business

Pick a unique trade name that people remember, and submit an application for its approval. This is important for online businesses in Dubai, as they do not have physical presence. Also, use your trade name as domain name, so that it is easier for people to find you online.

Apply for business license

The type of eCommerce license depends upon the nature of your online business. Normally, you have to provide a business plan for acquiring an eCommerce business license. You may have to describe the exact process of buying the product on your website.

So, you must have everything at hand as you go to register your eCommerce company in Dubai. To setup an e-commerce business in Dubai mainland, you have to acquire commercial license from DED (Department of Economic Development). A mainland company has to approximately pay AED 10,000 to DED for issuance of license.

For registering a free zone eCommerce company, you have to acquire license from the respective free trade zone. Additionally, free zone authority may request you to specify all the suppliers or manufacturers you will work with. Regulatory department may need you to fulfill some requirements as well.

Get your initial NOC

Receive your initial approval as a no objection certificate (NOC) from DED to start your eCommerce business in Dubai. Its validity is 6 months, and there is no renewal. You can apply for initial approval certificate at the same time while submitting your trade name approval application.

Prepare the MOA and LSA agreements

Draft a memorandum of association (MOA) and local service agent (LSA) agreement with the sponsor and submit it to DED. This step is necessary for incorporation of an e-Commerce business as a mainland company. eCommerce companies setting up in the free zones can skip this step.

Establish a business location

You may think that you don’t need to rent or lease an office space, if you intend to trade online. However, you must know that you cannot register an eCommerce business without it. DED has made it compulsory for a company to have an office so as to consider it a legal entity.

So, you have to establish an office in Dubai to legalize your eCommerce business. Check minimum office space requirements set by the authorities. For instance, minimum office space requirement is 200 square feet in Dubai.

In the event, you settle for free zone establishment, there are cheaper alternatives like virtual or flexi-desk rental options. Nevertheless, keep in mind that obtaining visas for employees depends upon office space. More office space means that you can get more visas.

Gather final approvals

Once, you complete all the above steps; you will get a business license within 1 week. After that, open corporate banking account in Dubai in a bank which most suits your needs. Gathering final approvals means that you are good to go ahead to run your eCommerce business.

Conclusion

This is advisable to seek professional advice from a consultant company, for any form of business setup in the UAE. It assists you along the way whilst saving your time and resources. For professional guidance in eCommerce business formation in Dubai, seek the help of expert business advisors.

Business consultants provide assistance in the complete process of setting up a new company in Dubai. KWS Middle East is here to make the process of starting a business setup in UAE as easy as possible for its clients. Connect with us today to make your journey as smooth as possible.

Everything changes with the times as per the law of nature . Successful people and businesses foresee a situation, prepare themselves, and adapt to it. Accordingly, entrepreneurship has evolved and transformed the way companies are run during 2024.

From the last 100 years, the world is rapidly progressing in all ways possible. Moreover, the transformation of entrepreneurship has led to a complete face-lift of the way businesses are setup. What entrepreneurs think today is very different from those thoughts in the 1950s.

The concept of entrepreneurship has evolved dramatically over the past two centuries. However, the key fact remains same that entrepreneurship is on the rise. Let us examine the reasons for this surge, and compare the ways that today’s entrepreneur think contrast to their predecessors.

Defining the entrepreneurship

What is entrepreneurship?

In a nutshell, entrepreneurship is the activity of establishing companies, overcoming financial risks, to generate revenues, and earn profits.

Irish-French economist Richard Cantillon was among the first persons to iterate the concept of entrepreneurship in 1723. Scottish economist Adam Smith linked this concept with capitalism in the late 1700s. In 1803, French economist Jean-Baptiste Say defined entrepreneur as an economic agent who performs the following activities.

This definition though narrow but sounds familiar. Subsequently, the business owners on the enterprising journey are commonly practicing it as a costs cutting strategy. This concept is important in the relocation of economic resources for entrepreneurs as well.

Harvard Business School’s former business professor Howard Stevenson defines entrepreneurship as follows.

“Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.”

Howard H. Stevenson — Harvard Business School’s former business professor

This means that entrepreneurs can identify a business opportunity even if they do not have means to achieve it. Likewise, it is not about utilization of available resources to develop a product. Rather, it relates to having a vision to produce something and then work for ways to obtain required resources.

Read more: Habits of successful entrepreneurs

Evolution of entrepreneurship with times

How has entrepreneurship evolved with the times?

Here are some ways entrepreneurship has evolved globally in terms of business expansion over the years.

Now, we take a look on the phases of entrepreneurship.

Trade

Although, not known back then, trade was the first form of entrepreneurship, starting nearly 20,000 years ago. Humans were exchanging goods for the overall benefit of their tribes. Known as barter trade, it let people to give their excess items to others to receive some valuable things in return.

Agricultural revolution

With time, people learnt to domesticate plants and animals. Group of people cultivated food and exchanged it with people who provided valuable goods. Thus, new areas of specialization began to emerge such as pottery, carpentry, wool-making, and masonry.

Expansion of trade routes

Cities started to appear from 2000 BCE. As population rose, people got an idea that they can earn profits by trading between cities and cultures. Popular trade at that time was of salt, fruits, rice, wheat, and paper making (by China).

Invention of money

The key development in the history of entrepreneurship was a shift from barter system to currency. Coins were the first mode of payment. Later, paper money as a medium of exchange, became a way to store value.

Beginning of the markets

Large marketplaces became more popular to cater large population. Economic regulations and banking became more efficient. Consequently, small businesses and entrepreneurs could purchase goods from abroad.

Innovation, mercantilism, and explorers was on the rise at that time. Afterward, market economy has led to a boost in the global trade. Luca Pacioli formulated standardized principles to keep track of a company’s accounts.

Industrial revolution

The shift from small scale to large scale production led to the industrial revolution. Henceforward, it gave rise to some of the world’s great entrepreneurs such as J. Morgan and John D. Rockefeller.

Modern entrepreneurship

Nowadays, entrepreneurship serves as lifeblood of all economies of the world. Entrepreneurs innovate the businesses processes and meet the needs of the users. Therefore, countries worldwide value their contribution in the economy.

Further reading: RAK introduces business packages for women entrepreneurs

Change drivers for entrepreneurship

Which are the change drivers for entrepreneurship?

These are the change drivers that are transforming entrepreneurship.

Next, we briefly look upon the change drivers that are powering entrepreneurship.

Technology

Technological entrepreneurship is progressing rapidly across the world and in the UAE. According to 2017 MENA Venture Report, tech companies in UAE made up 29% of new businesses. Even if a business is not a tech startup, it will utilize technological tools like social media, apps, and websites.

More than 60% of people in Middle East have access to internet. Technology helps people access essential business knowledge and tools for their low cost startup which were not possible before. Also, new technologies boost entrepreneurial potential and provide a plethora of opportunities to start new businesses.

Diversity

Nowadays, we can see more women taking in charge of new startups. A report by the global entrepreneurship research association is a testimony to this progress. It reveals there are some countries such as Qatar where females have equal or higher entrepreneurship rates than men.

Entrepreneurship diversifies in the terms of age as well. Also, minority owned businesses are on the rise. Many new entrepreneurs are starting out at a young age.

Entrepreneurial education

Entrepreneurship is a concept that you can learn. So, entrepreneurial education is a must to develop enterprising culture and drive business. Universities in the UAE like NYU Abu Dhabi and Dubai Entrepreneurs Academy offer courses on business and career development.

Those who cannot learn in universities can gain access to this information via internet. For example, free online courses, podcasts, YouTube videos, etc. It is one of the main reasons that many entrepreneurs are starting out young.

Location

Entrepreneurship has evolved in terms of location as well. Thanks to the internet, in entrepreneur can work from anywhere and with great speed. Hence, big companies are widening their workforce to take benefit out of small startups in developing nations.

A study by risk management and brokerage firm Willis Woers Watson is right on the money. As it discloses that 55% of multi-national companies are looking for ways to effectively handle their workforce. Besides, they can use external contractors for the next three years.

Ethical entrepreneurship

There are people who are no longer profit driven. Rather they want to build their corporate empire that is socially aware and returns something to society. They are known as ethical entrepreneurs.

An example is of TOM, a shoe store which has a “one for one” policy. When you buy one pair of shoes, the store donates another pair to a person in need. Therefore, ethical entrepreneurship is beneficial for both the business owners and the community.

Know more: Advantages of launching an online business in Dubai

Entrepreneurship thriving in the UAE

Why is entrepreneurship booming in the UAE?

The UAE is open to international trade, providing best tax incentives to new startups. Particularly, the UAE is ranked best for “ease of doing business” in Middle East by World Bank Report. Free zones in Dubai and across the UAE are promoting foreign investment big time.

In the same vein, mainland companies make the most of the business friendly policies. The benefits for entrepreneurs have been startling in the UAE. Overall, global developments are leading conservative countries to become more socially progressive.

The UAE is among the best countries in the world to start a business. Its marvel Dubai attracts business owners from around the globe because of its central location. Due to a growth potential, everyone wants to become an entrepreneur in Dubai (with the help of business advisors).

With the economy growing sharply, Dubai aims to turn into an entrepreneurial hub of the world. Hosting of the Dubai World Expo 2020 has led to a great boost in the business opportunities. Thanks to the introduction of smart city plan in 2021, Dubai is opening its doors for creativity and technological innovation.

The geo-strategic position of Dubai ensures year around traffic to and from the East and the West. So, popular multi-national companies come to Dubai to expand their business operations in the MENA region. The world-class infrastructure and business consultants help in starting a business in Dubai and develop it in every way possible.

Tip: Unique business ideas in Dubai to make money

Considerations to become an entrepreneur in Dubai

What are the points to consider to become an entrepreneur in Dubai?

Nearly 90% of the population of the UAE, and more than 85 % population of Dubai is expatriate. UAE’s government is working hard to devise and implement strategies which serve different communities to live in harmony in Dubai. However, entrepreneurs new to the city may face some hurdles in company establishment due to the lack of knowledge.

Sheikh Mohammed bin Rashid Al Maktoum (Ruler of Dubai) setup AED 2 billion ($544 million) innovation fund in 2015. So, this initiative helps innovators and entrepreneurs with sponsorship of their startups and businesses. Such measures show how welcoming Dubai is to foreigners and businessmen alike, and help them turn their ideas into reality.

Here are a few crucial points which you must go through before initiating your business endeavor.

How to become an entrepreneur in Dubai
How to become an entrepreneur in Dubai

No, we take a brief look on these points as they can help us to become an entrepreneur in Dubai.

Decide what to offer

The first step in becoming an entrepreneur in Dubai is to decide what product or service you want to offer. So, you may offer an existing product which will result in fierce competition with other companies. Or you can go for niche product or service which is not readily available in Dubai market.

Firstly, the best way is to go through market research before the product/service launch. Business consultants in the UAE can guide you about properly conducting the market research. Accordingly, they enable you to identify the scope of your product or service in the Dubai market.

Choose the business type

Broadly speaking, if you are looking to setup a business in Dubai, you have two options to determine the business type. Either you can choose a mainland company or a free zone company. Formation of mainland company empowers you to trade directly within the Dubai market and across the UAE.

Whereas, the incorporation of free zone company means to setup your business in one of the special economic zones. It provides special benefits to foreign entrepreneurs such as complete ownership, no tax, complete repatriation of profits, and many more. Also, you have to decide about the type of legal structure you want to adopt for your business.

Make a strong business plan

A strong business plan is the foundation of your business setup in Dubai. In case, you plan to undertake your business on an existing competitive market. You need a sound and viable business plan that extensively takes into account each and every single detail.

Business advisors in Dubai specialize in complex company setup procedures. So, they can deliver you 360-degree business consulting services. They can prepare a sound business model or improve your existing one, taking into account extraordinary detail.

Arrange funds for business setup

You should decide the source of funding for your business in Dubai. For this purpose, you can look into venture capital funds or startup incubators. Moreover, various banks in the UAE provide business loans for new business startups.

Determine the license type

Normally, you have to get your business license from Department of Economic Development (DED). Your business license depends upon the kind of the business activity. Generally, there are three types of business licenses.

Business consultants in Dubai can do all the work to obtain a business license for you. Remember, there are further approvals from various government departments depending upon your business activity. Business advisors can happily perform all those tasks to acquire those approvals on your behalf.

Calculate the cost of business setup

The cost of your business depends upon the amount of work and the area where you will launch your operations. So, you must determine the cost of business startup. It gives you an overall idea of how much budget you have and how much funds you require more.

Financial/business advisors specialize in assessing the cost that a company needs to have a successful start in Dubai. These business experts can give you a general idea of business start-up cost in Dubai. Subsequently, you have a head-start in your budgeting for your business setup.

Know the time to setup a business

This depends upon the company jurisdiction and can vary between different areas. Whether Dubai main or free zone, it usually take about 7 to 10 days for business startup in Dubai. In some circumstances, the process can take two to three weeks as well.

Know further: Start a low-cost business in Dubai

Top places for foreigners to setup business in the UAE

Which are top places for foreigners to setup business in the UAE?

Due to the numerous benefits, it is understandable to register a business in the UAE. Besides, it is extremely feasible and profitable to venture into the world of entrepreneurship in the United Arab Emirates. Because, the UAE government is providing incredible support to budding foreign entrepreneurs.

Here are some places in the UAE which are very suitable for a foreigner who wants to setup a business.

Now, we take a brief look on these top spots to do business in the UAE.

Dubai

The most populous city of the UAE, City of Dubai is the capital of the Emirate of Dubai. In the late 1980s, the modern Dubai was built with the revenues generated from the Oil and Gas sector. Gradually, the government of Dubai became aware of the advantages of diversification of the sources of income.

Today, less than five percent of the Emirate’s revenue comes from the oil and gas industry. However, it still contributes eight percent to the entire GDP of Dubai. The government of Dubai is focusing on renewable energy generation from clean/green sources.

The strategic location of Dubai pays a significant role in its worth. The availability of the numerous free zones in Dubai make the city hard to miss. As a result, Dubai has become a lucrative option for foreign investment and business owners.

Abu Dhabi

The second most prominent and outstanding pick for a foreigner to start a business in UAE is Abu Dhabi. It is the capital of the UAE, and the Emirate of the same name. Emirate of Abu Dhabi is the richest and the most prosperous Emirate in the UAE.

Individually, it has one of the highest GDP per capita in the world. With investment of more than a trillion dollars in the city, it is an indispensable hot-spot for foreign business owners. Thus, entrepreneurs and investors are exploring new horizons for setting up a new business in Abu Dhabi.

Deira

Historically, the district of Deira was the financial and commercial hub of Dubai. In recent years, the government is reviving the town of Deira by the construction and extension of the metro. The creation of many shopping malls in the area is driving its growth. The development of Port Saeed beside the Deira’s coast of Dubai creek is cherry on the cake.

Business Bay

The Business Bay, as the name implies, is a business district in Dubai. Upon the completion of its under construction portions, the Business Bay will boast more than 250 high rise buildings. Companies and people will use these as residential as well as commercial purposes.

Business Bay will cover 4,370,000 m sq. of area. Out of which 7,280,000 m sq. will be up for leasing and renting. The whole region will comprise of a Bay Square, 12 Executive Towers, and a Bay Avenue.

Al Karama

As a suburban district of Dubai, Al Karama was built in a grid system. It is an excellent place for setting up shopping malls, restaurants and cafes. Al Karama is ideal for incorporating small setups such as beauty salons and pre-schools.

The region of Al Karama is smaller than two square kilometers, it accommodates more than 50,000 people. It has many low rising residential structures such as apartment buildings and houses. Transportation to and from Al Karama is extensive, fast, and readily available.

This makes it very comfortable for people to travel to and from the area. The nearness of many hotels makes it a desirable destination for business. Especially, if an immigrant wants to start a company in the UAE.

Idea: Launch a tourism business in Fujairah

UAE as top destination for foreign entrepreneurs

Why is UAE top destination for foreign entrepreneurs to start a business?

The Middle East is known as a global center for all things business. UAE has the superior infrastructure and the best business atmosphere in the region. Because of the most sound technological facilities, entrepreneurs are choosing UAE for foreign investment.

UAE is ranking 13th on a global scale according to a research. It measures the ease of doing business, among other criteria, while ranking the financial centers of the world. This report reveals that UAE is the best among the MENA region on this criteria.

The government of the UAE is aiming to create more investor-friendly environment. So that foreign investors, both big and small, find it an appealing destination for starting a business. In recent times, more and more foreign entrepreneurs are investing in the development of its infrastructure.

For instance, the projects such as KKR are testimony of this phenomena. The 40% stake of black rock in the Abu Dhabi National Oil Company’s pipeline project is another example. It confirms that foreigners still have very much interest to invest in the business sphere of the UAE.

Many governmental reforms, such as state-led privatization across the country, are transforming the UAE into a desirable investment destination. UAE is evolving into the place to invest in business for entrepreneurs all over the globe. Besides, there are significant developments and advancements in the realm of sustainable and renewable energy.

UAE as a top destination for entrepreneurs
UAE as a top destination for entrepreneurs

Reasons to start the entrepreneurial career in Dubai

What are the reasons to start entrepreneurial career in Dubai?

The United Arab Emirates is emerging as a notable hub for worldwide businesses. Dubai’s government has made some significant changes to the rules surrounding company formation by promoting ease of doing business. These initiatives are forming a fertile ground for loads of business and investment opportunities in Dubai.

Implementation of the lax taxation laws in the past decade is putting Dubai on the verge of another economic leap. The populous and busy Emirate of Dubai is evolving, adjusting, and transforming every day. It is adapting to innovative schemes of production, circulation, and consumption of goods and services.

The businesses setup in Dubai can reach over one billion consumers residing in the UAE and the neighboring countries. The people and companies in the regions of the Middle East, Asia, Africa, and Eastern Europe are their immediate clientele. Here are a few reasons for you to start your entrepreneurial career with a new business in Dubai.

Top business opportunities for entrepreneurs in Dubai

Which are the business opportunities for entrepreneurs in Dubai?

The United Arab Emirates is full of business prospects for entrepreneurs. However, they have to identify the best sectors for investment in Dubai. These are the top business opportunities in Dubai that will ensure investors quick returns and long-term profits.

Business opportunity
Business opportunity

Next, we take a look on these profitable business opportunities for entrepreneurs in Dubai.

Real Estate and Construction

Among the top contenders on this list are real estate and construction. Properties management, real estate development, property rentals, and maintenance the properties are its leading sub sectors. Dubai mainland, DAFZA, and JAFZA are the primary options for business setup in Dubai for the realty and construction industry.

Retail and Wholesale

Retail industry is another business sector growing at a furious pace in recent years. All thanks to the increasing population, the influx of foreign visitors of leisure and business kinds, and a robust economy. Therefore, setting up a sales office, showroom, warehousing facility, or a grocery store are lucrative options.

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.

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.

Advertising and 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.

Fashion and 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

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.

Process of business registration in Dubai for entrepreneurs

What is process of business registration in Dubai for entrepreneurs?

This is the procedure of business registration in Dubai for kick-starting your entrepreneurship journey in the UAE.

Business registration process in Dubai for entrepreneurs
Business registration process in Dubai for entrepreneurs

Now, we briefly look upon this step-by-step procedure.

Plan your business activity

The core of your business registration in Dubai process is deciding your business activity before starting other steps. Make a thorough business plan that describes your whole business activity. Because, many regulatory authorities require applicants to disclose the business activity with a business plan.

Choose your area

The business sector of Dubai comprises two areas: mainland and free zone. However, each of these areas has some slightly different rules for foreign business owners. Pick the land sensibly by calculating the budget and acquiring a license for a startup.

In case, you are venturing into manufacturing for global markets, you can register your business in the free zone. Nevertheless, if you are aiming for trading onshore, you have to incorporate your business on the mainland. If you are already doing business oversees, then you can open a branch office in Dubai.

Select authentic company name

A new business must have a clean company name that does not contain any blasphemous or offensive words. Also, pick a name that is unique and aligns with your business. Otherwise, your company name registration request can result in a disapproval.

Trademark registration for a company is a crucial part of business registration in Dubai. Also, you must have full knowledge about the requirements for registering a company name and its trade name. That’s where a business consultancy firm can suggest you names to save time.

The collection and completion of all legal paperwork for company registration in Dubai is a hectic phase for entrepreneurs. Because, they are unaware of the regulatory requirements and governmental approval system. Expert business consultants can assist you in collecting paperwork and guiding you in filling these before correspondence with the authorities.

Try to assemble all shareholders for creating MOA (Memorandum of Association). The professional business consultancy agencies in Dubai assist fresh business owners in creating their company’s article of association. These documents require some time in filing, but clear the muddy path for establishing your firm’s identity in Dubai.

Find appropriate office

Dubai is home to many office apartments that are built specifically for startups. In the start, you can even get a flexi desk to quickly commence the business. Find an office space which suits your needs and can facilitate your customers.

Acquire your Visa

Now, focus on the next phase of business registration in Dubai, that is processing your VISA application. After all, you have to come to the UAE to form a business in Dubai. So, try to find legal business advisors that can provide good packages for VISA for Dubai.

Remember that affordable is not always the appropriate pick. Investor visa gives you the right of residency for 2 years in the UAE. Lifetime visa and golden visa are premium options for entrepreneurs and business

Open a bank account

Opening an account in a bank is the last stage of the company registration operation for entrepreneurs. Banks require photocopies of business shareholders’ identity cards, passport size photos, and a copy of the business permit. Also, banks in Dubai and across the UAE need records like transactions of the last six months.

The legal business license is the backbone of this procedure. Because, governmental departments give permission to start a business in Dubai, if the owner has a legal permit. Among the most popular trading license types are commercial license and professional license.

You have to submit the business license application to the Department of Economic Development (DED) for mainland businesses. Otherwise, you can file the trading license application with the Dubai Chamber of Commerce (DCC). Companies wishing to begin business in the free zone need to register with the relevant authority of that area.

When entrepreneurs complete all the above steps, they get permission to start their businesses in Dubai. Upon successful approval, you can receive your business license. Nonetheless, you can appeal again if you get disapproval.

Business registration in Dubai for a small enterprise

Why do business registration in Dubai for a small company?

Dubai is among the most profitable places in the world for entrepreneurs to start their small-level businesses. Now, it is ninth among the best economical cities which offer great opportunities for logistics and import/export business. The government of the UAE is spending $70 billion to help boost up small-businesses growth projects.

With the arrival of more entrepreneurs, the number of startups in the UAE is rapidly growing. The authorities are making the procedure of business registration in Dubai simple. However, standard steps can cause trouble for startups in getting registration in Dubai.

Some important stages demand legal approvals and documents for entering into Dubai market. To apply for starting a small-scale business in Dubai, any entrepreneur must comply with all rules and regulations. The first phase involves building your team, and all members should get an Emirates identity card.

Afterward, entrepreneurs must complete the legal paperwork and submit the documents to the relevant authorities. After finishing the basic procedure, there is a precise process to register your company in Dubai. Get to know all the nitty-gritty here to avoid any issue.

Statistics showing value of entrepreneurship in UAE

Which statistics highlight UAE is embracing entrepreneurship?

Here are some statistics that showcase that entrepreneurship is evolving and entrepreneurs are thriving in the UAE.

Based on information provided by VisaGuide.World: To get an Investor Visa in Dubai or anywhere else in the UAE, you must invest at least AED 10 million in the public sector in UAE or invest at least AED 5 million in a property.

Insight: Rules to select a business name in the UAE

Future of entrepreneurship

What is the future of entrepreneurship?

Around the world, entrepreneurship will continue to sustain its special position in society and economy in the future. Through the years, only the means of entrepreneurship have evolved, but not its core. After all, the global financial landscape has made modern entrepreneurship quite challenging but rewarding as well.

The provision of state-of-the-art infrastructure, communication systems, cheap labor, and means of production are playing a great part in it. Also, entrepreneurs address the demand by providing supply. They are the innovators who solve problems that no one has solved before.

Conclusion

Promising entrepreneurs are the ones who have the ability to lead from the front. Furthermore, they show creativity, move with the time and never give up. Entrepreneurship is the vehicle that is driving the modern businesses internationally.

United Arab Emirates as a global economic hub is the place to start your entrepreneurial journey. Take help of any finest professional consultancy agency to efficiently complete your paperwork for business registration in Dubai. So, choose the consultants who have track record of helping numerous entrepreneurs and business owners.

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.

Business consultants in the UAE can help you in setting up an enterprise. KWS Middle East is here to assist you in navigating your entrepreneurial journey. So, connect with experts at KWS-ME to make your transition to entrepreneurship as smooth as possible.

They are pioneers 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.