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 looking for a business setup in Dubai 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 over three million and a fair influx of visitors, aspiring entrepreneurs can do well with a small business setup in Dubai. when you think of a startup, the initial picture might be that of a corporate office with young workers, a foosball table, and a luxurious pantry. Although, there are many possibilities when someone wants to set up a small business in Dubai.
Starting small can mean offering consultation depending on your expertise from a desk space or starting a credit repair business, selling products online, even operating a tea stall next to parking. The possibilities are huge for small business setup in Dubai. Although, there are a few vital things you require to keep in mind before starting a small business in Dubai.
What is the Process to Start a Small Business in Dubai
Here are the steps for starting a small business in Dubai:
- Finding Sponsorship
Without a doubt, open a small business in Dubai will be on the way. From obtaining various permits, renting out space, furnishing it, purchasing equipment, getting supplies, and paying staff salaries, to promoting your business, the procedure can be a costly affair. If you don’t have the funds you need, find a compatible partner, or consider taking out a business loan. The best business setup consultants in Dubai can connect you with companies that provide corporate ownership where you will be given documented authority and 100% ownership of your business.
Hence, if you require to do business on the Dubai mainland, you should partner with a local sponsor. This local partner will work as your service agent who will charge you a mutually agreed annual fee.
- Preparing Documents
There are many document agencies involved in inspecting, approving, and issuing various permits required for your business operations, the major documents required for company registration in Dubai is your trade license, which is either issued by the Department of Economic Development or the concerned free zone authority under which your business will fall depending on the location of your choice.
- Legal Formalities
Depending on the nature of your business, you may require to obtain a few formal permits, for example, to open a restaurant in Dubai, you require to obtain a trade license from the DED or the relevant free zone authority or the Department of Tourism and Commerce Marketing depending in your location, a food, and safety license issued by the Department of Food and Safety, and a NOC from the Dubai Municipality.
- Choosing the Right Location
The office or store address speaks for your brand, which is vital for your business. Dubai has specific places that are suitable for some categories of businesses. For instance, Sheikh Zayed Road and business bay host premiere corporate office, Dubai healthcare city houses specialty clinics and hospitals, media city is home to the branches of many international media companies, DIFC is the center of financial institutions, and the industrial areas are where most of the assembling and manufacturing units are located.
- Setup with Right Staff
Your hiring can make or break the project, so, take your time to find the right people to run the show. Not only inquire about their past experience, but also try to find out how they get with colleagues, large terms, and deal with clients under pressure. You can outsource this to a staffing company. In addition, you can also get their visas and documentation done through professionals specializing in the field.
Newly opened businesses in Dubai require to advertise themselves on various platforms, involving print and digital mediums. Having an in-house IT team will make sure your visibility in this factual world with quickly evolving technology. It is a good idea to join a public relations company that works with clients in the relevant industry because you may have already a lot on your plate. Count on these executives to prepare a press release, run social media campaigns, organize promotional events that help bring your company to the limelight.
Documents Required for Small Business in Dubai
Below are the basic documents you will have to jeep handy while company registration in Dubai.
- Business plan
- Relevant government form duly filled
- Trade name reservation certificate
- Initial approval certificate
- NOC from shareholders
- Passport copies of partners
- Visa page copies
- Emirates ID
Get Expert Guidance and Support from Start Any Business
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