A small business set up in Dubai can be successful, considering Dubai’s large population and fair influx of tourists. There is however a range of requirements that need to be fulfilled in order to make the process of setting up your business in Dubai smooth. Read on to find out some important factors before they start a small business in the UAE.
Sponsorship is without a doubt one of the most challenging aspects of starting a business in Dubai. It can be costly to set up a business, obtain various permits, rent out space, furnish it, buy equipment, get supplies, and pay staff salaries, as well as promote it. Partnering with a local sponsor is therefore recommended if you plan to do business in Dubai. You will pay a mutually agreed annual fee to this local partner for acting as your service agent.
Document preparation for business setup
A number of government agencies inspect, approve, and issue various permits you will need for your business operations. A trade license is the most important document for starting a small business in Dubai, which is issued by either the Department of Economic Development (DED) or the respective free zone authority depending on where the business will be located.
In order to apply for a small business license in Dubai, you will need the following documents:
- A business plan
- Completed government forms
- Memorandum of Association (MoA) and LSA Agreement
- Trade name reservation certificate
- Payment receipt of trade name registration
- Initial approval certificate
- NOC from shareholders (if any)
- NOC from your service agent
- Passport copies of partners
- Visa page copies
- Emirates IDs
- A valid copy of Ejari (tenancy contract)
Formal permits may be required based on the nature of your business. For example, if you wish to open a restaurant in Dubai, you will be required to get a trade license from the DED or the particular free zone authority or perhaps the Department of Tourism and Commerce Marketing (DTCM) depending on your location. You will also need a food and safety license that can be obtained by the Department of Food and Safety, as well as an NOC issued by the Dubai Municipality.
Choosing a business location
Your store or office address speaks volumes about your brand. In Dubai, there are specific areas that are suitable for certain types of businesses. For your employees and clients to be able to travel conveniently, you should also check its proximity to public transportation modes.
Recruit the right people for your business
Take your time to find the right people to run the project, as your hiring choices can make or break the project. A staffing company can help you with this. A professional with experience in the field can also assist with their visas and documentation.
Advertising and marketing
It is important for newly opened businesses in Dubai to advertise themselves across a variety of platforms, including print and digital media. You would be more likely to succeed in this fast-paced world with rapidly evolving technologies if you partnered with a competent IT team. Their expertise can help your company step into the spotlight through press releases, social media campaigns, and promotional events.
Initiating your own business can be very challenging and time-consuming. Not to mention that starting a business in Dubai can be a very stressful experience, especially if you haven’t done it before. However, the aforementioned requirements are just the guide you need to start a business in Dubai. If you are looking for seamless, and cost-effective startup options to set up and run a successful business in Dubai, Meydan Free Zone will support you on your way to being a thriving success.