Dubai is now firmly established as the financial, business and commercial hub of the Middle East, extremely known for its warm hospitality and rich cultural heritage. Convenient business conditions and savvy investment decisions have led to Dubai becoming one of the Gulf’s rapidly growing economies. Shops or souks – as these are called in the Middle East – comprise one of the fastest growing industries in Dubai. Consequently, setting up a shop in Dubai is quite a promising proposition. How to open a small shop in Dubai, beauty salon and restaurant domains are the most widespread in Dubai. Let’s have a look as to How to start a small business in Dubai. After deciding the type of retail store, in order to obtain the Dubai trade license, a company must be registered under the Company Register. After this step, few documents have to be submitted to the Department of Economic Development in Dubai
Businesses like retail shop prove to be successful in most of the areas with substantial population because they provide every day essential items. But only those areas provide additional benefit to such businesses where majority of population is financially strong and increasing continuously. These are the two things that are abundant in Dubai.
The population of Dubai is advancing rapidly due to continuous arrival of foreign residents while most of locals and foreigners are enjoying good income. Apart from that, millions of tourists also arrive and stay in Dubai every year that also boost the retail sector of Dubai. In fact, retail is one of the best performing non-oil sectors here.
Certainly, there is no shortage of How to start a small business in Dubai. But new opportunities are always appearing for such businesses. An important upcoming event that will definitely increase chances of growth of several industries including retail sector is Expo 2020.
Retail shop in Dubai free zone:
As compared to other big businesses, retail shops can be opened by small investors that provide employment to large number of people. As a shop owner, you are allowed to setup your business either in Dubai mainland or any of the free zones in Dubai. Most of the free zones in this specific emirate also provide residential facility to employees and their family members. Therefore, it is also advantageous to establish retail shop in Dubai free zone.
Retail Shop in Dubai Mainland:
But in fact, the best place for setting up a shop in the emirate is the Dubai mainland. You can contact thousands of people on daily basis here that can boost your business several folds. But there are certain restrictions and a complete procedure before establishing a shop in Dubai mainland.
Following are certain steps needed before thinking How to open a retail shop in Dubai main land.
- The initial thing is to find a local sponsor before opening a retail shop in the emirate of Dubai. Like formation of other businesses, it is mandatory to get a local sponsor with 51% shares before opening a shop in Dubai mainland.
- The most important step is to get registration of your business from all relevant authorities. You will require commercial license to start retail shop in the city of Dubai. For this purpose, you will submit all the required documents in these authorities and acquire permission to start your business. Main authority is the Department of Economic Development in Dubai (DED). You will also require approval from Ejari, Ministry of Economy UAE, Dubai Municipality (DM) and other departments to complete the procedure.
- An important step is to select right type of jurisdiction suitable for your business. These shops can be established in malls (like Dubai mall) or in a specific area like Meena Bazaar. But it is necessary to know and follow all rules and regulations of these jurisdictions that are related to your business.
- As foreigners can’t purchase property in Dubai, so they need to rent a shop for their business. For this purpose, you need permissions from DM and other related authorities
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Offshore or on-shore company in Dubai
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