Many entrepreneurs and business people want to expand or start a business in Dubai (UAE). But realizing this dream is difficult for small businesses and freelancers. When commencing a business setup in Dubai, the Department of Economic Development (DED) prompts a set of procedures and paperwork. These include business licensing, registration, accreditation, local participation, rented office space, and some other companies’ standards. These procedures to setup a company in UAE can cost up to AED 60,000 (UAE Dirham) and can increase depending on the business activity and location of the business.
If you want to establish your own business in the UAE, it entails intense determination and ambition. You will need significant investment and business setup costs, particularly if you want your company to start as a business startup in Dubai. It requires the cost of setting up a specific business for initial expenses only.
The amount of investors and entrepreneurs in the UAE is rising every year. The UAE chooses people who want to form their own companies. According to the annual Global Investment Report, the UAE is the ninth-largest FDI receiver in the Mena region as the largest of the investors are from Asia. In this section we will discus on how to setup a company in UAE with a low cost.
Why is the UAE so investor-friendly and how can you set up business in the UAE at an economical cost?
Here are some helpful tips for starting your own low-cost business in the UAE.
All-inclusive cost-effective business setup packages
There are various parts you need to contemplate when thinking about starting a business in the UAE.
Here we give a detailed description of the following:
- Keep a trading name for the company.
- Outline your business activities
- Demand preliminary approval from the DED.
- Apply in Dubai for a business license suitable for your business activity
That is why it is advised to hire a good business setting consultant who can overcome the pressure of commencing a company in Dubai. There are some business setup consultants available to help you setup a company in UAE with possible low cost.
Affordable places to setup a company in UAE
If you are thinking to expand your business, there are several areas in the UAE that are affordable. Inexpensive business setting up in Dubai or any other emirate depends on where it is. The three main jurisdictions that divide the UAE company formation are Dubai Mainland, Offshore, and Free Zone. To commence your company in Dubai Mainland, as mentioned earlier, requires permission from the Department of Economic Development (DED).
Elect a trusted and skilled business setup consultant
A specialist business setup consultant can defeat the additional load on your head and make the method of setting up a company in Dubai much more comfortable and stress-free. With the supervision of a business set-up consultant, you can also establish a successful business in Dubai. A specialist company formation expert can save you from needless expenses and inform you about the fluctuating laws of the UAE.
Steps to setup a company in UAE:
- Development To obtain a license from the Department of Economic Development, you must select and approve the company name according to the type of business.
- You must grant the memorandum of association to the Notary Public Dubai Court.
- The application must be submitted to enter the Commercial Registers in DED.
- Once recognized by the DED, the DED will issue a license and enter the company name in the Commercial Register, so the MOA will be published in the Bulletin of the Ministry of Finance and Commerce.
- After making the above steps, your company will be listed with the Dubai Chamber of Commerce and Industry.
So, here is a listing of some of the most successful low-cost business means in Dubai.
Low-cost businesses in Dubai
Restaurant / Cafe:
People in Dubai frequently have good purchasing power and adequate disposable income. In this case, they can eat more regularly. A well-located restaurant or cafe in Dubai is always a lucrative option. Now mobile store vans are also an attractive choice as they have gained a lot of demand in Dubai.
Home-cooked food supply:
People in Dubai are always watching for good food cooked at home, particularly those going 9-5. People can not cook daily food or fast food can be the only opportunity daily because it is costly and harmful to health. So, adopting such a business that allows good food deals for 2-10 people daily is perpetually a lucrative option for some good businesses, and Dubai has a good market for home-cooked food.
Dry-cleaning service:
As we discussed earlier, Dubai is full of working people and laundry is very difficult. In this regard, everyone in Dubai is looking for someone to go to their washing. If you can innovate in this business like mobile laundry service then it is a very lucrative business in Dubai.
Repair of mobile phones:
This is a very effective business in Dubai and expects very little investment. In addition to making minor repairs to your mobile, you can also sell mobile accessories and prove that this business is profitable in Dubai.
E-Commerce Business:
It is also a well-known and highly profitable business in Dubai using e-commerce. In other terms, the licensing function known as the Dubai Economic Department e-Portal allows you to market your products and assistance online.
Property Management:
Dubai is full of billionaires and affluent people, and people in Dubai are constantly studying to invest in the business market, some of whom may need property managers to maintain their assets. So there is perpetually a demand for smart business management corporations in Dubai’s booming market where there are ever good value opportunities.
Recruitment Agency:
Every year, various businesses in Dubai search for skilled workers from throughout the world. Companies and businesses often do not carry out general recruitment mean on their own. Because of this, a recruitment company business is required where candidates from India and Europe approach these agencies to receive jobs in Dubai. This is a highly profitable business in Dubai and guarantees to be a prosperous enterprise.
Day Care Business:
There are a lot of working duos in Dubai and they perpetually need daycare hubs where they can take care of the kids. These daycare centers ensure not only babysitting but also a comprehensive learning atmosphere. This type of day Care Business is supposed to be the most economical cost business commenced in Dubai.
Maid & Cleaning Services:
The working group in Dubai is frequently working and they always need domestic help because they can’t handle it easily. These people always want to hire housekeepers and house assistants through a cleaning and housekeeping service company. This market is relatively simple and can confirm to be a successful enterprise in Dubai.
Maintenance Services in Dubai:
Dubai continuously requires support services for multiple purposes. A large number of people in Dubai live in flats, which gives it a huge demand for this type of business. Only you require is some experienced operators proficient of covering domestic and commercial areas, and you can commence this market at low cost in populated areas of Dubai.
Flower Delivery Service:
This market is held profitable not only on February 14th but also daily in Dubai. From birthdays, weddings and many celebrations can not be finished without flowers. So, if you can come up with a flower delivery service business in Dubai with an option for online order assistance. This business is certain to be a very profitable option.
Webpreneur:
The name webpreneur has recently caught the awareness of low-cost investors in Dubai, a very large business, and deals with online tests ranging from mobile application advancement to content agency. However, this type of business is restricted to experts who concentrate in their particular tracks.