As a foreigner, starting a business in one of the wealthiest countries in the world could be slightly daunting.
However, let’s face it!
We cannot totally give up the idea since it will make us rich if we do it right!
This is why there are many from all over the world who would go through the problems and still persist.
So, if you are here to understand some of the ways in which you can set up a business in Dubai as a foreigner, then here is what you need to do.
How To Start Up A Business In Dubai As A Foreigner
Here is everything which you need to do if you are a foreigner and you are planning on setting up a business in Dubai.
1. Select The Kind Of Business
Research is the beginning of everything!
Without the right research, you are doomed anyway. However, you must always decide which field you wish to set up the business in. Talk legally; if you need some more assistance, the law firm in DIFC can be of great help.
There are some business opportunities that are hot selling in Dubai, and E-commerce is one of them.
Plus, you will need this idea of the type of business so that you can make rough budgeting for AED.
2. Get Your Documentation Ready
There is a plethora of documentation without which you won’t be permitted to even get a job in Dubai. Thus, when you want to set up a business; you have to be very apt with your-
3. Get The Permission
Now that we are talking about documentation, we all need them for one reason—the process of documentation.
Documentation is very important for the purpose of permission.
Plus, every job has a different permit. For example, you can apply online for this permission, or you can simply hire a personal attorney who will do most of the work.
4. Get The Rent
When you are looking for a place to rent a shop, you have to keep in mind that Dubai is divided into three parts.
- Free Zone, &
The budgeting for each location will differ.
5. Learn The Protocols
Dubai is very strict on its rules and protocols.
We are not just talking about the business and work rules, but also the certain cultural and religious rules.
Breaching them might cause a lot of trouble for you.
Frequently Asked Questions
Starting a business in Dubai sounds like an opportunity that will ensure a lifetime of prosperity. However, the questioning might not end at the end of the article.
This is why we have gotten some of the frequently asked questions and some expert advice that will help you to understand it better.
Setting up your business in a place like Dubai, where rules and regulations are pretty ironclad, if not scary, should at least be intimidating.
Let’s hope that these answers are able to help you.
1. How Much Does It Actually Cost To Set Up A Business In Dubai?
Ans. Now, this solely depends on the kind of business you are planning to do or what kind of license you will need for that business.
Exactly where do you need to rent a shop, etc., etc.
However, if we are taking an estimation into consideration, then one would need somewhere between AED 1000 to AED 1,000,000 to set up a business in Dubai.
Aed being the United Arab Emirates Dirham.
2. Can I, As a Foreigner, Own A Business In Dubai?
Ans. Yes, absolutely!
Dubai is a place of business, and many are foreigners who own their own businesses in the country. Thus, you, as a foreigner, will be able to own a business since Dubai is very welcoming towards foreigners owning businesses.
Profit In Dubai!
If you place the right foot, Dubai is a place of immense profit!
Here are some of the most profitable businesses in Dubai.
- E-commerce you have enough people to buy anything you sell.
- Travel and Tourism, the number of tourists each year to see the Burj Khalifa itself is huge.
- Beauty Salon are posh people who are very keen on their beauty.