Business Set Up in Dubai | Discover The 5 Opportunities For Dubai Business
Are you an entrepreneur looking for growth areas for your business in Dubai?
Business set up in Dubai, United Arab Emirates (UAE): Consider the 5 business areas that have been targeted by Dubai for growth.
Please invest 2 minutes of your time to watch the business set up in Dubai video below. It spells out how you can benefit. Or if you prefer to read, then feel free to skip the video and go straight to the text below:
As you know, your business has a greater chance of success if your market is growing.
It is easy to register a company in Dubai because of a wide choice of locations and opportunities that are on offer.
It is best if you acquaint yourself of the various options, and with the finer details of the process to avoid problems later on.
Here are 5 growth areas for business set up in Dubai
1. Business set up in Dubai: Real Estate
One of the prime business opportunities in Dubai is real estate. That’s right; the real estate industry in Dubai alone contributes 22% to the city’s GDP.
Construction projects are undertaken by both local and foreign companies. Architects come from all over the world. The projects are designed to meet the needs of international investors and tourists alike.
Delving into the real estate market in Dubai does have its challenges:
- Like finding the right property to invest in
- Return on investment possibilities
- Taking advantage of the city’s tourism traffic via hotels and serviced apartments
- Rentals as monthly income.
Keep in mind that real estate is cyclical.
2. Business set up in Dubai: Travel and tours
Many travel companies have a business set up in Dubai. Dubai is the travel hub of the Middle East.
Tourism traffic to Dubai is expected to cross 10 mn arrivals in the next 5 years. This is more than many neighboring countries.
Emirates Airlines has very successfully created Dubai Airport as a convenient travel hub. This brings increasing number of transit passengers.
Fly Dubai the country’s discount airline has strategically chosen to tap into second tier markets within a 3,000 km radius.
However, these are destination flights and many travel agents both from Dubai and international markets offer inexpensive packages. This new direction has brought in large numbers of tourists from cities which were unknown to Dubai earlier.
Tourist traffic to Dubai is now growing at 8 to 10% per year as is the market for businesses serving them.
3. Business set up in Dubai: Bars and night clubs
Again, tourism has made a large impact on the types of businesses that are expanding. Many home grown entrepreneurs have gone from a small bar to multiple hotels.
Generally alcohol licenses are issued only to 4 and 5 star hotels.
More than in other businesses you need good local connections as everywhere.
4. Business set up in Dubai: Trade
UAE applies zero personal, corporate, wealth and capital gains taxes. Custom duties are nominal.
With a population of more than 1.7 bn people within a 3000 km radius, Dubai is well located to facilitate cross country trade. It has also been blessed with troubled neighbors.
Neighboring countries view Dubai, UAE as a safe haven for banking and shipping. Simple regulations, hassle free paper work and years of nimble experience has built the country into a trading power house.
The current areas attracting new entrants are food, steel scrap, building materials, jewelry and pharmaceutical products.
The Dubai Chamber of Commerce has information on a wide range of product lines which you can research.
5. Business set up in Dubai: Agency for skilled employees
It is possible to recruit employees from anywhere in the world.
Except from countries on the restricted list which changes based on risk factors as identified by the government.
Also it is not possible to get a resident visa of more than 2 to 3 years even if your family has lived here for several generations.
These factors lead to a continuous need for skilled and unskilled employees.
Skilled employees are easier to work with and your commissions will be higher.
The popular sectors are hospitality, nurses, engineers, and teachers.
Note that there are various additional requirements by the Labor Ministry for this industry. Please inquire about these before you go ahead.
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