As Dubai is an international tourist destination, business opportunities are abundant. In fact, there is a provision for almost every trade you can think of. From property and oil business to aviation and construction, you name it and there is almost every kind of business you can set up. This makes the job of finding out how to start a business in Dubai slightly more difficult than it would be elsewhere.
If you are looking for a business that offers both creativity and scope for growth then you will be pleased to know that the hospitality industry is one of the fastest growing sectors in Dubai. There is a thriving domestic tourist industry based in Dubai that earns hundreds of millions of dollars every year. Many international hotels too have set up base here. You just need to ensure that the legal requirements of doing business with them are met. Once that has been done, you can earn money online from this sector and this article provides some useful tips on how to start a business in Dubai that can help you make that happen.
First things first, you should get yourself a business license from the Dubai Commission for Private License holders. The location of the office is not important as long as it is within the commercial and business zones. These zones are located all over Dubai and include areas such as Bur Dubai, Business Bay, Dubai Festival City and Dubai Creek. A business license is a crucial ingredient to the success of any business and the one obtained by you will determine the success or failure of your business venture. Without it, there can be no business and no job.
If you are still looking for how to start a business in Dubai, the next step is to get yourself registered with the Dubai MDA. The next thing you need to do is request a copy of your business license and personal identity certificate from the Dubai authorities. The copy of your identity certificate should include a photograph and all the necessary information relating to your company formation.
After obtaining the identity proof and business permit, you are now all set to begin your search for business opportunities in the free zones of Dubai. Nowadays, the business climate in Dubai is very conducive and chances of finding a good job are high. However, because there are no restrictions on foreign workers in the labor force, cheap labor is also available. Therefore, in order to attract more educated and skilled foreign workforce, the government of Dubai has taken many measures to make it easier for foreign entrepreneurs to establish a business. One of these measures is the implementation of the Dubai Company Formation Law.
Companies cannot run their business without a Trade License. This is issued by the Dubai Department of Economic Development and is required for all businesses that wish to operate in the free zones of Dubai. To obtain the license, you will have to submit proof of your business’ capability to earn profits as well as details about your investment plans. All applicants who apply for a Trade License are required to submit three years of operation experience. If the business had been running for less than two years, you may consider lowering your investment requirements in order to obtain the license faster. However, before you can apply for a Trade License, you must contact the concerned departments of Dubai Ministry of Commerce and Trade.
On the other hand, if you are planning to start a new business inside the emirate but you lack the needed legal documents or if you are planning to start your business abroad, the easiest way for you to get a business visa is to apply for the Dubai Business Visa (DBS). Unlike other countries in the region, a person who manages a business that has received approval from the Dubai authorities and has the necessary licenses and certifications as well as a fixed office is not required to obtain a business visa. On the contrary, a person who wishes to work for an individual or a company that is not based in the emirate is required to get a visa for the applicant to work in the emirate.
The business setup in AbuDhabi is comparatively easy due to the presence of several free zones within the city. Free zones are zones in which a company can set up a business without any type of permits. As soon as the company formation process is completed successfully, the business can operate freely without any type of payment or obligations. Moreover, all types of commercial activities that are conducted in the free zones of Dubai do not require the payment of income tax either. All these benefits are provided to the business entrepreneurs of Dubai who are operating their companies offshore.
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