Are you considering starting a business? But can’t decide which is the best business to start in the UAE? Don’t worry. We did the research for you, and this is what we found.
The UAE is a great place to start a new business of any kind. According to the World Bank’s Ease of Doing Business 2020 report, the UAE ranks 16 globally in terms of ease of doing business. It takes less than a week and five easy steps to set up your business.
In addition, the UAE is the ideal country to invest in due to its plethora of resources and the state’s political stability and unity. The authorities are continually improving the business climate and increasing investment prospects.
By the end of this post, you will have an idea of which business you are best suited for and the necessary steps to get your business off the ground. We will cover the following:
- • Best businesses to start in the UAE
- • Steps to start a business in the UAE
- • Working with Creative Zone
Best businesses to start in the UAE
Here are our top picks for the best business to start in the UAE. All are highly profitable businesses that anyone can set up. And, we begin with the least expensive to the most costly business for new entrepreneurs.
A growing economy in the UAE means that many firms require highly-skilled individuals. However, recruitment is a big problem because the UAE’s local population only makes up 0.5% of the workforce; therefore, finding qualified candidates can be difficult.
Hence, there is a substantial need for recruitment agencies to help meet the rising job openings. The best part of being a recruitment agency owner is that you will never run out of prospective applicants to interview. Dubai is a dream city for international job seekers and attracts many ex-pats looking for employment.
You can employ highly-skilled people from anywhere globally with a well-placed and well-designed social media campaign.
Digital marketing agency
In 2021 the expected global digital marketing expenditure was $375 billion. The UAE saw the same rapid growth in digital marketing – a yearly growth rate between 25-40%! Such a substantial increase demonstrates the sector’s investment potential for individuals with the necessary expertise.
If you have prior digital marketing agency work experience and thought of starting your agency, you should. To launch your digital marketing firm, all you need is a working knowledge of digital marketing, including SEO, PPC, analytics, and keyword research.
Consulting is one of Dubai’s most successful business ideas. You can start a company offering consulting services based on your education and expertise. Starting a business in this niche may be both exhilarating and lucrative.
However, not everyone is suited for a career in consulting. As a consultant, you need a good communicator. Listening skills are essential in building a consulting firm. You also need to be able to explain things to your customers effectively. Communication and networking are the lifeblood of the consulting industry.
E-commerce and drop shipping
Dubai is home to one of the biggest B2C eCommerce marketplaces globally, with one of the world’s highest internet penetration rates. It leads the GCC eCommerce market with over 60% of online buyers.
E-commerce solutions and drop shipping are lucrative online business opportunities since they require little or no upfront expenditure to get started. All you need is a good laptop, relevant software, and a high-speed internet connection, and you can offer your services to anyone, anywhere in the world.
Shisha lounge cafe
Shisha smoking has been a popular pastime in the Middle East for many years. However, as tobacco industry regulations tighten, the market for alternatives is booming. With its growing café culture and softening coronavirus prohibitions, shisha smoking seems more popular than ever in the UAE. By 2028, the worldwide market for waterpipe smoking is expected to be worth USD 25 billion, with the Middle East accounting for more than 80% of that.
Steps to start a business in the UAE
If you follow a simple step-by-step process, starting your business in UAE can be easier than you think. Working with Creative Zone makes getting your business license quick and straightforward in five steps.
Step 1: Determine the type of business
The first step to starting a business and getting a license is to figure out what you want to do. Choose from 2,000 business activities from the industrial, commercial, professional, and tourist areas. You can see the entire list on the Department of Economic Development (DED) site.
Step 2: Choose your company’s name
Trade names are an integral part of the legal procedure. Unless your company is a subsidiary, the name should ideally represent the business. It is also essential to follow the strict naming rules in the UAE. It is against the law to use offensive names to any religion or contain bad words.
Step 3: Legal structure
When forming a business in UAE, choosing the proper legal structure for your business is essential. It lays the groundwork for managing revenues and losses and allocating resources. You can not get a business license without identifying your legal structure. A sole establishment, a limited liability company, a local or foreign company branch, and a free zone company branch are some of the legal forms or business structures available for registration in Dubai.
Step 4: Submit all documents to the DED
The formation of a corporation and the issuance of a license occur simultaneously. However, the documentation and approval process is multi-staged. At this stage, you must get the necessary government permissions as needed by the DED.
Step 5: Open your bank account
After you acquire your license, open a bank account right away. Without a business bank account, you cannot begin operations in the UAE.
If you have concerns concerning the requirements, contact one of the Creative Zone’s business setup managers. They can help you set up your business as quickly as possible while remaining fully compliant.
Working with Creative Zone
There you have it: five of the best businesses to start in the UAE.
While starting a business in UAE appears simple enough, it requires qualified and expert professionals to handle all government-related work. They ensure a smooth setup of your new business.
Creative Zone is UAE’s oldest and most trusted business setup expert, having assisted over 44,000 entrepreneurs in successfully establishing their businesses since our inception in 2010.
We specialize in delivering solutions that best fit your needs when starting a business by providing quick, dependable, hassle-free, and experienced assistance.
Assisting your business setup in Dubai is only the first step. We also provide a wide range of services, including tax preparation, legal advice, and human resources management.
The benefits don’t end there. When you become a client of Creative Zone, through our networking tool, CZ Connect, every client gets access to a thriving community of fellow entrepreneurs. This allows you to interact, network, and develop significant relationships with the region’s larger business community.
Take advantage of our free consultations today and get unbiased advice on UAE business formation, with the sole goal of finding the best possible fit for your needs.