Are you looking to set up a business in Dubai? The United Arab Emirates is an attractive destination for entrepreneurs from around the world, offering a flourishing business landscape backed by government incentives and the ease of creating new businesses. In this article, we'll explore the process of setting up a business in Dubai, from choosing an industry to obtaining a visa. Choosing an industry is the first step to setting up a business in Dubai. You'll need to decide which sector you want to operate in and what type of company you want to create.
This could include importing companies (26%), exports, sales, logistics, travel (26%), tourism, general stores and real estate. Once you've chosen an industry, you'll need to choose a location for your business. The United Arab Emirates offers many options for entrepreneurs looking to set up shop, from free zones to mainland locations. The next step is to choose a company name and complete the paperwork.
You'll need to register your company with the relevant authorities and obtain a business license. Depending on your chosen industry, you may also need additional permits or licenses. For example, if you're setting up a financial services company in the DIFC, you'll need to obtain a financial services permit (FSP) from the Dubai Financial Services Authority (DFSA). Once you've completed the paperwork, it's time to open a bank account and apply for a visa.
You'll need to provide proof of your company's registration and other documents such as your passport and residence visa. After that, you can start trading. When setting up a business in Dubai, it's important to understand local etiquette. The United Arab Emirates is known for its hospitality and respect for tradition.
As such, it's important to be mindful of cultural norms when interacting with local Emiratis. Finally, if you're looking for an alternative way to set up a business in Dubai, you can opt for a continental company. This allows you to trade directly with local and international markets without having to work with a local partner who owns 51% of your company's shares. Starting a business in Dubai is relatively straightforward compared to other parts of the world.
According to the World Bank's latest ease of doing business ranking, the United Arab Emirates is ranked 16th in the world. With its flourishing business landscape backed by government incentives and the ease of creating new businesses, Dubai is an attractive challenge for entrepreneurs from around the world.