Low Cost Business Setup In Dubai
Low Cost Business Setup In Dubai
Dubai is known to be commercial capital of the United Arab Emirates and has an encouraging economy for business investment. Dubai is usually considered to be haven for investors from all over the world. It has one of the most emerging economies in the world. Dubai has generally provided suitable environment for business community and the government has always encouraged people to start up their businesses especially low cost business set up in Dubai. The government has taken a lot of steps to boost small businesses in Dubai, that matter they have established certain authorities to do so.
So if you intend to start new small businesses in Dubai you need to consider certain things before you can do so.
Business Setup Ideas In Dubai
In order to start a business in Dubai, the rule of thumb is always the same. You must have business set knowledge necessary to start off a business in Dubai. Research is always necessary about services and product knowledge is a must about what you are going to offer and with that you need to know about your demand and supply along with complete business plan. This will help you in persuading local investor to invest in you venture. Your research on competitors will help you create comprehensive business strategy and will eventually impact your services and products development. You can also create a buzz on social media and check response for your business.
Selecting Local Partner (GCC Resident)
Opening any business in UAE generally requires you to have a local business partner which will own majority of your business and can keep control of it but we can help you to secure your shares by side agreements with local Partner furthermore you can own 100% of shares if your business license is related to services or Professional license . We also offer corporate sponsorship this partner can be companies or individuals and will not necessarily be part of the company financially to start a business. Normally, you can have an agreement with your local partner for to avoid any conflicts regarding your company.
There is no minimum capital requirement but the owner should normally provide their own financial resource through legal means or bank. If the concept of the business is successful, the business will get massive boom form both market and financial point of view. According to law, you can choose between seven categories of commercial companies that can be launched in Dubai. The structure of your business tends to affect the pre-requisite of starting a small business set up in Dubai, such as minimum capital requirement, shareholding and procedures of incorporation.
Limited Liability Companies (LLC)
The LLC or limited liability company structure is most commonly used to launch small businesses in UAE and especially in Dubai. The number of LLC ranges from 2 to 5 person that can be established. The liability is generally limited of each individual share of investment in venture. Local investor or GCC resident will have 51% share and foreign investors can own 49% of the business.
If you want to know more about different business setup plans and package, we recommend you read Dubai mainland packages, or if you want to setup your company in one of the freezone then click Freezones and pricing and if you are interested in working as a freelancers then you should read freelance work visa in dubai.
Steps to launch business in Dubai:
- You must select and approve company name according to the type of the business for acquiring license from Economic Development Department.
- You must present the memorandum of association which should be notarized by Notary Public in Dubai court.
- Applying for entry in commercial registers at DED ( Dubai Economic Department ) should be submitted.
- Once approved the DED issues a license and the company name is entered in commercial register and hence MOA will get published in the bulletin in Ministry of Economy and commerce.
- After completion of the above steps your company will be registered in Dubai Chamber of Commerce and industry.
If you intend to open up a professional activity firm, you can get sole ownership of this company but in that case the number of employees the company can hire are limited. Ebms Can help you in finding reliable local services Agent and can assist you in getting the visa, licenses, labor cards and related documentation and will not have any say in conducting business.
Free zone companies although have a different legal structure. These setups are great for those who intend to use UAE as base in order to manufacture and distribute and demand of their business activity comes from Abroad. These free zone companies have the following features.
- 100% sole ownership
- Repatriate of income and profits
- import duties Exemption
- No corporation tax
- Easy and efficient administration support from free zone authorities.
Dubai Airport Free zone and Jebel Ali Free Zone are two largest free zones in Dubai. Four types of licenses are issued to the companies operating in these free zones
Industrial based license
- Trading based license
- Service based
- National industrial based on its company’s local production and incorporation.
So, here is the list of some of the low cost business setups in Dubai that is also highly profitable in Dubai.
In Dubai, people generally have great buying power and have sufficient disposable income. For that matter they can easily dine out on more frequent basis. A restaurant or cafe in a good location in Dubai can always be a profitable option. Now a day’s mobile food vans is also an interesting option as they have gained a lot of popularity in Dubai.
Home Cooked Food Delivery:
In Dubai people are always looking for home cooked fresh food especially those who are working 9-5. People cannot prepare food on a daily basis nor can fast food be the only option on day to day basis as it is costly as well as health hazardous. So, choosing such business where you offer deals for 2-10 person with good homemade food on daily basis can always be a lucrative option for some good business and Dubai has a good market for home cooked food.
Luxury Travel Deals & Discounts:
The travel and tourism sector is a good low cost business set up in Dubai. Though it’s developed but if you can come up great offers for example exotic resort deals, luxury travelling on discounted rates, oversea tours, cruise deals and more, you can surely grab good market share in this industry.
Dubai is filled with billionaires and rich class and people in Dubai are always on a look out for investing in property market and some of them might even need property managers to manage their own property. So there is always a need for smart property management companies in Dubai’ booming market, where there is always opportunities to make good profits.
Every year in Dubai multiple businesses need skilled labor from all over the globe. Organizations and businesses most of the time do not conduct extensive recruitment process on their own. For that reason recruitment agency business is needed where applicants from India, Pakistan and Europe approach these agencies to get jobs in Dubai. This is a very lucrative business in Dubai and promises to be a successful venture.
Day care Business:
In Dubai there is a huge number of working couples and there is always a need of day care centers that can take care of the kids for them. These day care centers are not only responsible for babysitting but they also guarantee good learning environment as well. The day care business is considered to be among the best low cost business set up in Dubai.
Maids and Cleaning Services:
The working class in Dubai is generally busy in profession and is always in a dire need of household help as it cannot be easily managed by them. For this people always look to hire maids and house helpers through cleaning and maid service agency. This business is relatively easy and can prove to be a successful business in Dubai.
In Dubai there is always need for maintenance services for multiple reasons. A large number of Dubai’s population resides in apartments and this make it a huge market for this type of business. All you need is some skilled labor who can accommodate residential and commercial area and you can start up this low cost business in populated areas of Dubai.
In Dubai you can start up this business due to fact that population in Dubai is fond of celebrating events, may it be religious events or special day for someone, cakes and snacks are always preferred to be an excellent choice of celebration. This low cost venture is good for people who love baking especially housewives who are looking for starting up and ideal business for themselves.
Flowers Delivery Service:
This business is considered to be profitable not only on 14th of February, but in Dubai on day to day basis it has proven to be quite successful. No event from birthdays to wedding and various celebrations is complete without flowers. So, if can come up with flower delivery service business in Dubai with an option of online order service. This business is sure to be a very lucrative option.
This type of low cost business set in Dubai does not require you to make your own products, but instead you can buy products from existing brands and package them attractively. No celebration is complete without gifts and if you can present your business well then sky is the limit for this low cost start up.
Every year people from all over come to Dubai for jobs and businesses and when it comes down to documentation you need various attestations from home country as well as offices in Dubai. This business is an excellent option because not a lot of people involve themselves in this time consuming affair. For that matter people generally prefer this type of business where can avoid such hassle.
If you cannot invest in a business with physical show room and need to start a business which saves you a lot of money, then online trading is the most suitable option. It require inventory and delivery option and you can start up your business on multiple sides in Dubai like Souq.com and groupon.com as a third party seller. You can also build up your own website and directly sell to customers directly. This is considered to be the most cost effective option as far as low cost business setup in Dubai is concerned.
The term webpreneur has recently grabbed attention of low cost investor in Dubai and is fairly large industry and deals with online ventures from mobile app development to content agency and so on. Although, this type of business is restricted to expert professional in their respective fields.
You might be aware of the fact the health and car insurance is compulsory in Dubai. Being an insurance brokerage is quiet successful business, as you act as agent of big insurance firms and by selling insurance on their behalf you can get share of profit. This is lucrative because everyone in Dubai need insurance like food and water and can be quite a low cost business set up.
Dry Cleaning Service:
As we have mentioned before Dubai is full of working class and laundry might be a tough task. For that matter, everyone in Dubai is looking for someone to their laundry for them. If you can bring innovation in this industry like mobile laundry service then it can be very profitable business in Dubai.
Hair salon is the best low cost step in Dubai as it requires very less investment. This is need-base business and grooming cannot be avoided. So, hair salons are always in demand but strategic location is a must for high profits.
Mobile Phones Repair:
This is a very profitable business in Dubai and requires very low investment. Apart from doing minor repairs to mobile you can sell mobile accessories and this business can prove to be profitable in Dubai.
So, here was the list of some of the Low cost business setup in Dubai and remember the success of any business in Dubai depends upon how well you can manage it and the amount of effort you put in it.
E-Commerce Business :
This is also one of famous and highly profitable business in Dubai with E commerce or in other words License Activity known as E portal issued by Dubai Economic Department lets you Sell your products and services online and use payment gateways like Payfort and teller to receive payments online
We hope you have got enough knowledge about business setup in dubai.
You can also look for list of dubai mainland business activiies .