what are the 5 Best Businesses to Start in Dubai?
Dubai is one of the best places for starting a business. It offers great opportunities for new entrepreneurs. Ever since the establishment of the Dubai Free Zone Authority, the city has seen an increase in the number of companies and investments thus maintaining its position as a leading global business hub.
Dubai is surrounded by business opportunities hence it is easy to find an opening even if you are an outsider trying to make a place in this city. But there are still a few things that you need to consider before starting your own company in Dubai.
When starting a business in Dubai, there are many important decisions that need to be made.
The first step is deciding which jurisdiction (free zone or mainland) will be most suitable for your business. It’s important to understand that each business type has its own advantages and disadvantages.
Once an appropriate jurisdiction has been selected, the next step is choosing the right license for your company.
Businesses in Dubai are regulated by the Department of Economic Development (DED). DED categorizes businesses into three main categories: trading, industrial and professional licenses. Finally, it’s essential to select the right commercial office space for your business.
If you want to do business in Dubai directly with the local market and trade outside of the free zone areas, then you will need a mainland company setup. This type of company needs to be sponsored by a local partner (usually from 49-51% ownership) who can be an individual or corporate shareholder. The main advantage of this setup is that it allows 100% foreign ownership and full repatriation of profits. The downside is that you will need someone who can act as your local sponsor, which can be hard to find.
The United Arab Emirates (UAE) is a federation of seven emirates, each governed by a hereditary emir with Dubai and Abu Dhabi as the largest. The UAE is one of the most diversified and stable economies in the Middle East, with a gross domestic product per capita of $68,244 (2018 est.) compared to the world average of $10,497.
Here are the most profitable 5 best businesses to start in Dubai:
- Food And Beverages Businesses
- Hospitality Businesses
- Tourism Industry
- It And Telecommunication Companies
- Construction And Real Estate Industries
The hospitality industry also thrives in Dubai because of its tourist population. Starting a hotel, restaurant, or resort will provide you with enough cash flow to sustain your business. There are other businesses that you can start such as food trucks, cafes, and bars.
The IT industry also thrives in Dubai because it has become more important for companies to have an online presence to boost their sales and reach more customers. You can start an IT company that specializes in web design,
Another thriving business sector in Dubai is the manufacturing industry. Products such as medicines, cars, electronics, clothing, and footwear are manufactured here and exported to different parts of the world. You can start your own manufacturing company or become a distributor of one.
The Other best businesses to start in Dubai are :
Dubai has a strong market for real estate brokers. It’s an exciting city with lots of people moving here from all over the world. It’s also one of the most expensive cities in the world to rent property; so if you can find renters affordable accommodation, there’s money to be made. here is a list of companies in Dubai.
Dubai is known as the “City of Gold” because of the high number of gold trading that happens here. Investors who are interested in starting a business in Dubai can decide to start a gold trading business, sell gold jewelry and accessories, or even invest in gold mining.
Dubai is a shopping destination in its own right, but it can be hard to find the right products at the right price. If you have the right contacts, there’s money to be made here. If you have a passion for fashion and a flair for design, starting your own fashion label could be a business opportunity for you
Starting your own business can be an exciting, yet daunting prospect. Following the right steps at the right time is crucial to your success. if you have a plan to start a business in Dubai or in UAE let us know, and we can help you. For more contact us at +971 558005160.
