Hey there, business minds! Are you looking for business ideas in Dubai? We are sure you do. That’s the reason you landed onto this page. But doing business is easy if you have money in the bank. Smartness is to look out for profitable & innovative ideas in Dubai with low investment. But why choose Dubai? Did this thought ever cross your mind? If it did, we will make sure it goes away with reason.
Business Ideas in Dubai
Dubai is a commercial capital of the UAE( United Arab Emirates) and has an emerging economy for business opportunities. It is the center of all trade amongst Arab countries. This article is all about providing you with the most cost effective and efficient business ideas in Dubai. Well, running a business isn’t everyone’s game. Everyone has their strengths and weaknesses; we are going to help you find the perfect business according to your fits.
Here are some best types of business in Dubai you can go for:
Healthcare sector is of the most vital sectors in every country. Beauty, healthcare clinics, salons, massage centers are booming in every part of the world. There are unlimited ideas and sub-categories in the healthcare department for businesses. Majority of the people are health conscious and are concerned about each other’s health. This opens the door for the healthcare service providers to fill the gap in the market. If you have any experience or interest in the healthcare services, this is one of the most demanding ideas in all of the business ideas in Dubai.
When you own a business, you want it to be secure. This unfolds another idea in the list of top business ideas in Dubai. The idea to start private security services. Private investigation and surveillance are always required in any form of business. The contribution of private security services in any form of business is growing at a rapid pace. These services can be such as surveillance, human resource, cybercrime, law enforcement, etc. Every business makes sure that their assets and resources are fully secured. If you still can’t pull off in providing security to the business communities you can still try selling them the equipment such as smart gadgets, security devices which make a difference in the security department of their firm.
Dubai is one of the most preferred locations when it comes to spending holidays or tourism. The tourism industry in Dubai is growing like a fire in the jungle. They have every kind of tourism such as shopping, business, cultural, sports, medical, you name it, they got it all. Starting a business in the tourism industry is most likely to succeed in the UAE. UAE hosts millions of tourists every year, which provides business opportunities for the investors to invest in the hotels, and touring services, etc.
The Government of Dubai is providing top-notch facilities when it comes to transport. Because of the growing population and the number of tourists, there is always a problem with traffic congestion. People living in Dubai spend an average of one and a half hour commute to and from one place to another in routine. However, small entrepreneurs have the perfect time to seize the opportunity in the transportation industry. Investors and entrepreneurs have the free will to start a local taxi service or introduce ride-hailing services for the transport industry in Dubai.
If you are fond of smart work, you will definitely like this idea among the top business ideas in Dubai. This business idea is about providing people with jobs. Countless people from all around the world are eagerly waiting to step their game up in Dubai. However, job agencies make sure that their client a person with skills is appointed in the right organization. The country is always in need of a variety of skilled employees such as IT experts, health care physicians, engineers, labors, and countless others. Job agencies make their life easier by searching out a suitable position for the employees.
If there is one business that has a minimum chance of a failure that has to be the food businesses. Food businesses are great and work out all the times. There is always a high demand for food items such as snacks, junk food, or even traditional food. Tourists are always excited to explore other traditional food. So this is your safe bet. If you have any experience related to food, this business will keep you going big time.
If you are aware of the recycling process, you can make handsome money by starting a recycling home-based business in Dubai. The amount of garbage that we create day-by-day is growing at a disturbing rate. Majority of the people are aware of the effects of not recycling used materials, but the surprising fact is, even more of the people are not even aware that recycling can become a lucrative business. It is considered to be profitable among the new business ideas in Dubai.
Ever heard of the term ‘freelancer’? A freelancer is a person who sells his skill online. If you are connected to the IT Industry, and you have an experience about how the IT industry works, you can create a company of your own. Start up your own IT company, and provide the services which you deliver best. You can simply hire your own staff, focus on the market you are targeting, or the skill you possess. Make a team, step up your game, and work as per your interest.
Why Dubai is best for business?
Dubai is one of the most favorable destinations for people around the world for countless reasons.
- It is the center of the Middle East, therefore businessmen and investors all around the world have a keen eye on Dubai to be their favorite.
- The government laws and policies support the growth of the small business, in fact, their state of the art infrastructure is designed in such a way that it not only supports small businesses but large corporations and companies as well.
- Opportunities in Dubai are not limited to the citizens of the UAE, but it is hugely dependent upon the foreign investors as well. So, if you live outside Dubai, and thinking about investing in Dubai, let us tell you that they are counting on you. Why? Because the presence of foreign business investors is one of the key factors in boosting the economy of Dubai.
- Due to the free trading zones in Dubai, commerce and trade are growing at a larger scale in Dubai day-by-day. People from all around the world love to shop in Dubai because they get cheaper goods. A win-win situation for everyone.
- Setting up a business is straight as an arrow, plain and simple. Due to the success ratio and the progressive mindset, the government administration has set policies which encourage foreign businessmen to invest in Dubai.
- One of the most vital reasons that UAE is considered the most favorable in terms of starting a business is the relaxation of tax. Taxation is minimal in Dubai for businesses and for some, non-existent. The only 3 fields which are highly assessed in taxation are banking field, tobacco processing, and oil.
- Dubai officials are fond of keeping the businesses high and on the rise. Meaning? The government of Dubai believes in the primary long term plan, which focuses on growing new businesses. This is a smart way for them to keep their economy supported by the business community for years to come! The tax-free strategy is ideal for upcoming and emerging businesses.
How to start a business in Dubai?
It’s time for us to let you know the ”How” part. Here are some of the steps you need to go through while starting your business in Dubai. See the below Table to understand the amount of time and cost each step will take.
Name your company, officially. Naming the company is one of the most important decisions that a person or a group of people make for the years to come. A name should reflect the domain of your business. (optional) After the name is finalized you have to apply for registration at the Department of Economic Development (DED).
2. Notarize the company’s memorandum of Association
You have to find a notary, a person licensed by the government to perform acts in legal affairs, in particular witnessing signatures on documents. This procedure is making your company’s memorandum into the record.
3. File the Documents to DED
This is just a simple step. All you have to do is to file company documents with the Department for Economic Development (DED); receive the trade license and Register your company for membership at the Dubai Chamber of Commerce and Industry (DCCI)
4. The Establishment Card
The ministry of labor gives an establishment card. For that, you have to apply for the establishment card at the Ministry of Labor
5. Declare Native Workers
It is compulsory to declare the official representatives of your company. In order to do so, you have made an official Registration to define the native workers with the Ministry of Labor.
6. Register Workers with General Authority
Register native workers with the General Authority for Pension and Social Security.
|Number of Steps||Time||Cost|
|Step 1||1 Day||Cost AED 110 for initial approval + AED 210 for name reservation|
|Step 2||1 Day||0.25% of the capital (for 3 copies of the Memorandum of Association), AED 5 for each page of the additional copy|
|Step 3||3 Day|
|Step 4||1 Day||AED 2,000|
|Step 5||1 Day||No Charge|
|Step 6||1 Day||No Charge|
For Further Guidance
That’s it. This is how you can start a business in Dubai. If you need further assistance, we can help you. All you have to do is contact us (RIZ & MONA consultancy firm) for a consultancy. Our firm has experienced professionals from every department who can guide you to make your decisions easier, according to your resources and experiences. Feel free to contact us on our WhatsApp # 971-54-5821012