Dubai is turning into the perfect destination for entrepreneurs to start their businesses. The economy of Dubai is growing at an exponential rate, and startup business activities are also growing along with it.
Additionally, The Dubai government is also introducing new rules and regulations and adjusting the existing ones to facilitate the process of starting a new business. So, if you are planning on starting your own company in Dubai, now is a perfect time.
Any startup business in Dubai has huge potential for growth. You will be able to start your own small-scale business very easily in Dubai and Enjoy the profit in no time. Setting up your own company in Dubai is straightforward, but there are some rules and regulations you must follow. I
if you have experience in starting a new company, it should be easier for you. However, if this is your first time setting up a business, you may feel a little confused. But you don’t need to worry because Company Setup is here to help.
Easy Steps to Start a Small Business in Dubai
If you are an entrepreneur looking to start a small business, Dubai is the perfect destination. You can easily set up a small-scale business in Dubai without much of a hassle. But there are a few steps you must follow before your can start your small-scale business in Dubai.
Here are the steps to start a small business in Dubai:
Choose Business Activities
The first step of starting your business would be to decide the type of business activities you want to perform. As a small-scale business company, there is a wide range of business activities you can choose from. From professional and service-based businesses to product sales, you will have a variety of choices for your business activities in Dubai.
You must decide the type of business activities you are good at and can make a profit while performing them. After that, you must conduct a market analysis and come up with a business plan.
Select a Name
Choosing a name for your small-scale business is very important. These steps totally depend on you. You must be careful while choosing a name because this is the name your potential customer will be introduced to before doing business with you.
You must follow the rules and regulations of the local authority while choosing a name for your business. You will also have to make sure that the name you choose is unique in Dubai and doesn’t contain any racial slurs.
Select a Business Location
There are two options available to you to choose from for your business location. You can either choose to set up your business on the mainland or one of the free zones.
Different locations will offer different benefits to your business. You must make a choice considering which location and benefits are better suited for your business.
Rent or Lease an Office Space
Next, you will need to lease or rent an office space as the base of operation for your company. The factors you must consider while choosing an office space are location, size, cost, and the facilities it offers. You will also need to consider the number of employees and the resources you will need to store.
You can choose to either rent or lease the office space. You must choose the option that offers the best value for your cost.
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Submit Business License Application
You will need to acquire a business license to conduct your business legally in Dubai. You can obtain a business license from the Dubai Department of Economic Development (DED). You can apply for a business license through the online portal of DED.
You will need to fill up the application form online and submit relevant documents. You must be careful to make sure that the information is accurate.
Pay Fees and Receive the License
The authority will take some time to process and approve your application form. Once your application is approved, you will need to pay the relevant fees. After that, you can collect your business license from DED and start your business activities.
Open a Corporate Bank Account
To conduct your business activities, you will need to have a corporate bank account. You will handle all the financial transactions through this bank account. It will also allow you to conduct your business internationally and handle all those international financial transactions.
Benefits of Starting a Small-Scale Business in Dubai
Dubai is the ideal destination for entrepreneurs to start their businesses. You can start a small-scale business in Dubai and capitalize on all the opportunities to make a profitable return.
Here are the benefits of starting a small-scale business in Dubai:
You can very easily set up your business in Dubai. Dubai prides itself on the facilities it provides for the entrepreneur, which will allow you to quickly set up your business and start your business activities. You will face the minimum hassle of acquiring a business license.
A Wide Range of Business Activities
From professional and service-based businesses to product sales, you will have a wide range of choices for your business activity. You will get to choose the activity that compliments your skillsets.
If you choose to start your business in the free zone, you can have 100% ownership over your business. However, you will need a local sponsor if you want to start your business on the mainland.
Low Investment Requirement
As a small-scale business in Dubai, you will need a smaller upfront investment to start your business activities. So, the startup process should be quick for your company
There are no personal taxes in Dubai. So, you and your employees can retain 100% of your income from the company. Additionally, you will not need to pay corporate tax if the annual income of your company doesn’t exceed AED 375,000.
How can We help to Start a Small Business in Dubai?
If you want to start a small-scale business in Dubai but you do not know where to get started, then you are in the right place. This is because Company Setup Consultants has helped numerous entrepreneurs from all over the world start various businesses in the UAE. Contact us today and hit the ground running.
To Speak with our Experienced Business Consultants for further information and assistance, call us at +971582595164. Send a WhatsApp Message for Chat Query on +971 582595164 or email us at email@example.com.