There are several reasons why entrepreneurs all around the world choose Dubai as their business destination. The favorable business conditions, privileged tax regime, and strategic location make it the perfect hub for global trade. With the UAE commercial laws and these added benefits, it is easy to start a small business setup in Dubai even with limited means and resources.
The UAE is one of the top preferred choices among new-age investors and entrepreneurs for business formation. Thanks to the healthy working environment, business-friendly laws, and an ever-supportive government.
Establishing a company in Dubai isn’t rocket science. However, you must be well-versed with the exact procedure to follow. Hence, it is important to get familiar with the UAE’s incredibly simple company formation process which enables to start small business in UAE in just a few simple steps.
How to open a small business setup in Dubai, UAE?
While starting a small business in Dubai or anywhere in the UAE, firstly, you need to decide on several aspects of business establishment, such as –
- Finding sponsor
- Preparing essential documents
- Legal formalities
- Choosing a location for company setup
- Recruiting staff
- Marketing of business
Get professional assistance from the expert consultants of Shuraa Business Setup and get your venture recognized in the UAE business community.
Steps to start a small business setup in Dubai
Dubai has made the whole process of company formation a lot easier to maximize the chances of making the business launch successful.
The steps to start a small business venture in the UAE include the following :
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Finalize the company’s legal structure
Dubai offers a plethora of legal business structures options for investors interested to enter into the UAE. You can decide on the preferred legal company structure as per your business needs, as well as the preferred location where you want to run your company.
The business owner is allowed to choose any of the locations in Dubai, either mainland or freezone. Both these sites have their own advantages for local and foreign businesses that are eager to launch in their jurisdiction.
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Determine the business activities
There are over 2000 permissible business activities by the Dubai Department of Economic Development to start small business in UAE. The owner can choose the ones that match their requirements. While applying for a business license, the entities must list down these activities to conduct them lawfully within the country.
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Choose a trading name
A trade name is a business name that is used for all official purposes, including the promotion of the company’s products and services. Hence, it is a mandatory requirement. From a small startup to a large corporation, every firm needs to reserve a unique and identifiable trade name for itself. Also, the owner must ensure that the name matches the nature of the business and isn’t misleading or offensive in any sense.
Thus, before finalizing a name for your company, it is crucial to go through the government’s naming convention protocols. You can also get in touch with the business consultants at Shuraa to suggest you appropriate names for your dream venture.
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Find an office space
Investing in real estate can be a hefty task in Dubai. However, renting an office can be a way more convenient and easily available option for foreign entrepreneurs. The owners can find multiple options of office spaces available for rent and lease in Dubai at very reasonable prices. Moreover, they can choose their office space as per their business needs and employee count.
In addition, the business owners do not have to get into the hassle of selling the office property in case the company winds up.
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Register for a business license
Establishing a business in Dubai, UAE would be incomplete without acquiring a valid business license, no matter how big or small the firm is. A business license is compulsory to run the business legitimately in the country. A company running without a legal license might have to face heavy penalties and other legal consequences.
A business license holds the record of all permissible business activities of the company. Therefore, the owner has to get several essential approvals from the concerned departments and follow a certain procedure to get their business covered under a license.
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Get the essential approvals
As stated earlier, the investor has to gather all the essential approvals from all the internal as well as external sources to legally start their business in the UAE. The required approvals might include consent from the local governing body, permission from the customs authority, agreement with the regional transport facility, etc.
The business experts at Shuraa, who are professionally connected with the authorities of Dubai, can handle all your legal needs and get the work done speedily.
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Open a corporate bank account
A bank account is necessary to manage and keep a record of all your business transactions. Once you complete all the business formation steps and get the required licenses, you get easy access to open a corporate bank account in UAE. Hence, the investor must ensure to collaborate with a reliable bank that offers excellent banking services as well as long-term business benefits.
Once you acquire your business license and start running your company, you can easily apply for a UAE visa to secure your life in UAE. The introduction of new visa reforms by the UAE authorities has made the process easier. Besides, the investor can also register their families and staff for visa permits.
Documents required for registration of small business setup in Dubai
It is mandatory to submit all the requested documents at the time of registration to avoid any delays and hassle.
- Passport copies of all the owners/shareholders
- Application form
- Memorandum of Association and Article of Association
- Trade name registration approval/certificate
- Business plan
Ideas to start small business in UAE
- Restaurants or cafes
- Health and pharmaceuticals
- Real estate
- Event management services
- Cleaning services
- Web development
- Construction
- Transport
- Food delivery services
- Recruitment agency
Types of business licenses available in Dubai, UAE
- Commercial license
- Trading license
- Industrial license
- Professional license
- General trading license
Conclusion
Local as well as foreign businesses enjoy increased profits and reap sizable revenue right from the start in Dubai. The world-class infrastructure, assorted working culture, favorable laws, and a robust government contribute equally to the rising number of foreign businesses in Dubai. Thus, Dubai is one of the highest contributing factors to the UAE’s economy.
This mega city invites budding entrepreneurs, startups, small businesses as well as big multinational companies into their booming market by luring them with amazing business offers. Besides, it is no wonder that people do show interest in their offers and embark on their entrepreneurial journey to Dubai.
While the whole procedure of establishing a small business setup in Dubai is not much complex, prior knowledge of business formation strategies in the UAE is imperative. What’s more, the application process is easy only if your business application is timely submitted that too free from errors.
Shuraa Business Setup is dedicated to doing all the heavy lifting for you. Our expert consultants provide end-to-end business assistance in establishing your business idea into a venture at a nominal cost. Moreover, you get reliable and unbiased advice on your business requirements, activities, business license as well as visa services.
Call us at +97144081900 or drop a WhatsApp message on +971507775554. Book a free consultation with our experts and know more about starting a small business setup in Dubai.
For email assistance, feel free to mail your query to info@shuraa.in.
