Dubai, being the business capital of the region allures a lot of interest from capable investors and entrepreneurs. There have maximum opportunities for those who seek to start a new business in free zone companies in Dubai.
If you are interested and want to know how to start small business in Dubai. Then we present you a few important factors that are important to understand the process.
With a population of more than three million and a fair influx of visitors, aspiring entrepreneurs can fair well with a small business setup in Dubai.
when you think of a startup, the initial picture can be that of a corporate office with young workers, a foosball table, and a swanky pantry. Although, there are a number of possibilities when someone wants to set up a small business in Dubai.
Starting small can mean offering consultation depend on your expertise from a desk space or operating a tea stall next to a parking lot, to even selling groceries. The possibilities are huge for small business setup in Dubai. Although, you require to keep in mind a few vital things before starting a small business in Dubai.
Steps to Start Small Business in Dubai
There are some steps required to start a small business in Dubai, UAE.
1. Decide Your Business Activities
The first step in forming your UAE business is to decide on your business activities. There are thousands of probable activities to select from and it is important that you list any you intend to carry on your license application.
Failure to specify every one of your intended activities could lead to issues further down the line. For this reason, it is advisable to work with a company formation expert when making this decision. Such experts are familiar with permitted activities and will be able to suggest those that align best with your business.
2. Choose a Company Name
With your business activities outlined, this is time to select your company name. There are some things to bear in mind when naming a business in Dubai, UAE. here you should abide by a strict, yet easy to follow, set of naming conventions. Once again, a company setup expert can help you with this step.
In short, you should avoid any offensive or blasphemous language. Avoid names of well-known organizations and avoid abbreviations if naming your company after yourself.
3. Choose a Setup – Free zone or Mainland
The final step before making your license application is to decide whether you wish to establish your business in a free zone or on the mainland. There are many benefits to both. Free zones provide benefits like a quick and easy incorporation procedure, ongoing business support, and financial incentives like tax exemptions and zero currency restrictions.
Mainland business, on the other hand, permits you to trade directly with the UAE market and take on potentially attractive government contracts. The setup that’s right for you will be based on the nature of your business. again, a company formation expert can advise on the best approach.
4. Make your License Application
Obtaining a business license for a small business is a simple procedure for both free zone and mainland companies. The need to start a small business in the mainland is as follows: apply for your license directly to the Department of Economic Development or the Municipality in the Emirate in which you are setting up. Mainland license applications take around three weeks.
Should you wish to do business from a free zone, you will require to apply directly to the relevant governing authority. Free zone licenses can often be granted in a matter of days based on the nature of your business and the license required.
Small Business Formation Cost in Dubai
The Business formation costs in Dubai can vary based on the nature of the business. The cost of building a company in Dubai is mostly straightforward and there is no hidden cost. The cost component is broadly divided into the following headings – documentation and verification, business license, visa processing, and immigration.
In addition, additional approval and document clearance will be required from the UAE embassy and related authorities, depending on the requirements, which will be charged. In the case involving a services agent or a business set-up consultant for the execution of services related to company formation in Dubai, there will also be a service fee for the consultants.
Why Choose Us
Start Any Business is a name that provides a holistic approach to excellence, commitment, and expert business advisor. As in chief corporate services firm that operating under the trademark of Start Any Business, we facilitate to all sizes of established entrepreneurs and businesses, expansion and conversion of their business in UAE.
If you looking to start small business in Dubai, Start Any Business (SAB) can help you with strategic consultation.
Also read: Business Opportunities In Dubai For Indian Entrepreneurs
