Business in Dubai: starting a business in the UAE

Pauline Familara
Pauline Familara
14 February 2024
Business in Dubai: starting a business in the UAE

The economy of the UAE is one of the most efficient and resilient in the world. Foreign investment inflow increases yearly, thanks to the government’s policies aimed at developing industries unrelated to the oil and gas sector and the unconventional management system. Low taxes, no customs duties, free currency exchange, a well-protected modern banking infrastructure, and the ability to repatriate capital smoothly are the main advantages determining the viability of doing business in the Emirates. Today, we have analyzed the types of activities in demand in the country and will tell you what business in the UAE can bring good profits.

The Convenience of Doing Business in the United Arab Emirates

One of the advantages of the UAE is the convenience of doing business, which is ensured by the following:

  • Simplified company registration and the absence of complex bureaucratic procedures.
  • Extensive use of IT technologies, allowing many issues to be addressed online.
  • An economy oriented towards the overall development of innovations in various industries.
  • A high level of government support for foreign businesses.

Today, Emirates confidently maintains leadership in the global entrepreneurship index, making it an attractive jurisdiction for businessmen worldwide.

What Business Can You Open in Dubai?

Dubai, the second-largest and most renowned among the country’s seven emirates, attracts most foreign investors. With high demand for various goods and services, Dubai can be a thriving entrepreneurial hub for various businesses. If you’re still deciding on a business in Dubai, here are a few ideas worth considering.

Real Estate Market Investment

The sustainable growth observed in the real estate market over the past decade offers good prospects for those starting a business in the real estate sector in Dubai. You can register the following:

  • A firm providing real estate services.
  • A management company handling the maintenance of commercial and residential properties.
  • A legal entity owning and administering a specialized online platform for selling and renting offices and housing.
  • A cleaning company.
  • A company engaged in the renovation and reconstruction of buildings and structures.

To start a business in Dubai real estate, consider consulting with a Dynasty Business Adviser. Our specialists can assist you in organizing your activities correctly and registering your company in the shortest possible time.

Incorporating a Company in Dubai: Business Ideas in Construction

Promising prospects lie in conducting entrepreneurial activities in the construction sector of the Emirates. The forecasted growth of this economic sector until 2025 is expected to be 7%, ensuring high profitability for companies engaged in the following spheres:

  • Construction works.
  • Development of project documentation for construction, including architectural and design solutions.
  • Supply, rental, repair, and maintenance of construction equipment.
  • Production of building materials.
  • Recruitment of personnel for work in construction firms.

Investing in the Logistics Sector

As the most significant transportation hub at the intersection of trade routes connecting Europe, Asia, and Africa, the UAE is an ideal location for logistics activities. Promising business ideas in Dubai related to managing and providing aviation, automotive, and maritime transport include three major seaports (Jebel Ali, Al Hamriyah, and Rashid), an international airport, and a well-developed network of highways. In-demand services in this sector include:

  • Customs and freight brokerage services.
  • Companies involved in cargo and passenger transportation.
  • Operation of warehouse complexes.
  • Loading and unloading services.
  • Companies providing cleaning and catering services for transportation or offering maintenance and repair of vehicles.

Choose any of these directions, and experts at Dynasty Business Adviser can assist you with registering a logistics business in Dubai and other emirates of the UAE.

Ideas for a Tourism Business in Dubai

The UAE is a popular tourist destination. Since Dubai is the most sought-after destination for foreign guests, a business catering to tourists’ needs will bring in a good income here. Profitable activities in this sector include:

  • Acting as an inbound tourism operator — handling visa procedures, organizing tours for foreigners, managing their accommodation, and providing transportation.
  • Providing tourist services to UAE residents who wish to visit other countries — the high standard of living in the country ensures demand for outbound tourism.
  • Operating a tourism agency — selling airline tickets and hotel reservations.
  • Renting out cars, villas, and apartments.

When establishing a tourism UAE business, specific requirements from the registrar must be met, and detailed information can be obtained from our company’s managers.

Investment and Financial Activities

Dubai is one of the world’s largest financial centers. Here, all conditions are created for safe operations in finance and investments. When choosing what business to start in Dubai, consider profitable directions such as

  • Establishing an investment fund (company) for investing in commercial projects.
  • Financial consulting.
  • Asset management.
  • Providing services related to lending.
  • Financing using blockchain, artificial intelligence, and other innovative technologies.

Note that to open a business in Dubai and the UAE related to finance and investments, you need to obtain approval from the Department of Economic Development.

Production of Goods

Despite the high economic growth rate, the United Arab Emirates still heavily relies on importing various products, from food to medicines and consumer goods. Therefore, the country’s government is interested in developing the manufacturing sector. The most profitable business in Dubai can be built by producing goods in demand in the domestic market. This is facilitated by the following:

  • Enormous government support for manufacturers.
  • Favorable tax legislation.
  • Developed transportation infrastructure.
  • Availability of energy and raw material resources.

Suppose you wish to start a business in Dubai related to producing goods for domestic consumption. In that case, it is advisable to register a local company to avoid selling products through a distributor.

International and Domestic Trade

Opening a business in the trade field in the Emirates, including e-commerce, guarantees high profits due to the country’s geographical location, low taxes, and the absence of customs duties. However, a 5% fee based on the product’s value must be paid for importing goods for sale within the UAE.

Zero import duty rates may be granted to companies depending on various factors:

  • Location of the company — in a free zone or mainland territory.
  • Points of origin and destination.
  • Type of goods.
  • Existence of bilateral agreements with the exporting country.

Understanding all these nuances and choosing the right place to incorporate your business can be facilitated by the experts at Dynasty Business Adviser.

Which Service-Oriented Business Is Better to Open in Dubai?

The high incomes of UAE citizens, an increasing number of well-off expatriates residing there, a significant influx of wealthy tourists, and many companies ensure a consistently high demand for services for businesses and the population. Among Dubai’s most sought-after types of service activities are the following:

  • IT technology services for legal entities.
  • Consulting services for companies and enterprises.
  • Production and placement of advertisements.
  • Trust management of assets.
  • Activities in public catering (operation of cafes and restaurants, food delivery).
  • Assistance in childcare.
  • Educational services.
  • All repairs — automobiles, household appliances, electronics.
  • Health and beauty services.

Consulting Services for Opening Business in the UAE

To open a profitable business in the UAE, a good understanding of local legislation nuances and the peculiarities of conducting entrepreneurial activities in this country is essential. Mistakes made at the initial stages can hinder the normal development of the business. The best solution is to use business consulting services provided by specialized companies, such as Dynasty Business Adviser. Professional lawyers, economists, and financial and business analysts can help you:

  • Conduct a market analysis.
  • Choose a suitable business model and marketing strategy.
  • Develop a long-term business development plan.
  • Navigate through all the intricacies of the UAE legislation regulating the chosen activity types.
  • Minimize expenses for taxes and administrative costs.
  • Quickly and seamlessly go through the registration procedures.

Business Registration Process in the UAE

To open a business in the Emirates, you need to:

  1. Develop a business plan.
  2. Collect and prepare documents (translate them into Arabic and obtain consular legalization).
  3. Choose the type of activity, company type, structure, and place of incorporation.
  4. Obtain approval from the Department of Residency and Foreign Affairs and the relevant ministry (if required).
  5. Rent or buy office space.
  6. Submit a registration application and wait for the certificate issuance.
  7. Obtain licenses.
  8. Obtain the company’s immigration card.
  9. Process residency visas.
  10. Open a bank account.

Dynasty Business Adviser — a Reliable Partner in the UAE

Our company is located in Dubai and is a licensed registrar of onshore and offshore firms in the Emirates. We offer

  • Assistance from qualified and experienced professionals in law, finance, and business who are well-versed in UAE laws.
  • A carefully crafted and time-tested methodology for incorporating businesses in the UAE with minimal client involvement.
  • A wide range of consulting services for opening and developing businesses in the Emirates.
  • Representation of client interests in government agencies and banks.

If you want professional consultation or assistance incorporating a business in Dubai and other emirates, please contact a Dynasty Business Adviser manager through your preferred method!

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