Dubai is becoming an industrial hub for foreign companies. Largest port, industrial corridor, futuristic technology, and amazing social life. All of these attract people from around the world to the dream city of the United Arab Emirates.
Today, Dubai has earned the place where Global trade management happens in Dubai. Top Fortune 500 companies are establishing their presence in Dubai. Starting an import export business in Dubai would be a wise decision. Data indicates the growth of stake in international trade. According to the statistics, Dubai’s trade in 2020 was approximately AED 1.182 trillion.
The numbers have shown a jump in the overall trade happening in Dubai y-o-y. Significant boost supporting industries import and export more goods through the modern ports.
Also, Dubai is located in the terrine, where geological benefits are helping the region to establish a presence on the course of the biggest sea routes in the world.
Loading and unloading the goods are accessible through the largest port of Dubai. Using highly advanced technology, an expert workforce, and technological advancement powers the entire industrial revolution in Dubai. Many commercial opportunities are available in the city, driving the global import-export companies to start their venture and leverage the benefits.
Import export business in Dubai
One of the futuristic cities known for its skyscraper buildings, excellent infrastructure, corporate hub, and many opportunities for individuals. The Empire of Dubai is consistently evolving and expanding in various other sectors. People are aware of the capability of Dubai and what it can offer to companies worldwide.
Today, major trade hubs are in Dubai. Strategic location, simple government policies, tax benefits to the companies, and skilled workers are the main reasons why Dubai is on the verge of becoming the top eCommerce business hub in the world.
The business starts in Dubai to gain international exposure. Companies in Dubai receive special privileges in the global market because the location offers many advantages, which helps you build trust in your brand. Additionally, a favorable tax regime for the companies established in Dubai makes the revenue flow positive.
Starting a business in Dubai would save you a significant tax because the government charges 0% tax on the revenue generated up to AED 375,000 and 9% tax on the income above AED 375,000. Besides that, modern airports and newly built highly advanced sea port makes the goods supply and purchase more convenient for the import export business.
All of these facilities translate into better services to the client with speedy delivery. Large shipment trading activities are available from the port of Dubai. Also, Dubai has friendly relations with almost all economic superpowers worldwide. Thus, sending and receiving goods through the major international port would not be challenging.
How do you start a business in Dubai?
Entrepreneurs looking to start a business in Dubai could find the guide helpful. Also, people looking for the answer to “how to start a business in Dubai?” could find the information more helpful.
Register Dubai Business
Registration of the company name is the first step to starting a business in Dubai. Authenticate the management team with the registration process, set the fixed capital investment, and state the type of business activities the company will conduct. All of the information is duly signed by the partners and submitted to the local authority for further verification.
Alternatively, you can consult with the business setup companies in UAE. They will make setting up your business more comfortable. Their expertise will avoid rejection by the authority and provide you with proper guidance to start the business.
Dubai has a different corporate structure to make the operation more convenient.
Type of companies in Dubai
- Limited liability company (LLC)
- Sole proprietorship
Once your business is registered with the local government, you will be given commercial and trade licenses to deal in the product selling and buying. The Department of Economic Development verifies the presented documents for review. All these facilities are available online, so there is no need to spend hours in the government office standing in a long queue.
You will be issued a UAE import export business license if the documents are genuine and dully signed per the guidelines. Obey the rules and regulations to avoid restrictions from the authority. The entire process may take a few weeks, so bear with the government process. Once you receive a license, you are ready to trade in Dubai’s import and export business.
Import export license
Companies that deal in trading receive a special trading license from the Dubai Chamber of Commerce and Industry. The cost to obtain the import export business license is around AED 2,000. Additionally, the company is liable to pay an annual registration fee of AED 1,000.
Renting office space
Your customer should know where you are located in Dubai. After paying the license and registration fees, the company has to obtain physical office space in Dubai. Depending on the need of the business, decide on the size and flexible options to make your office space more convenient for the team. Generally, the office space in Dubai costs around AED 5,000 per month.
Before entering the trading business, read the customs guidelines to make your business run smoothly. All the customer rules set by the government should be followed because it applies to all types of goods traded through the ports.
Dubai’s customs varied depending on the type of goods traded through the seaports. Also, taxes and duties are varied. Therefore, consult with the experts to understand the norms before you enter into import and export of particular type of goods.
What is the minimum investment to start a business in Dubai?
The cost of starting a business varies depending on the business’s nature. Service sectors don’t need more equipment, whereas the manufacturing companies would have to develop an extensive infrastructure.
The average minimum investment for starting a business in Dubai is approx AED 11,900. It consists of facilities such as a Free zone company license. Also, the company is registered under the Zero Visa Quota and has no office space.
Do you want to export to Dubai from India?
How to start a business in Dubai without money?
The fastest-growing economy of Dubai has given birth to many small industries. Opportunities in various categories are available for skilled people. There are many businesses in Dubai that you can start with no money. Professionals from around the world come to Dubai to leverage the benefits because the demand in the city is consistently rising. Many foreigners use their visit to Dubai to earn while their stay and leverage the benefits of being in Dubai. Anytime you can start a business in Dubai as a foreigner without restriction.
List of the business your can start without money.
Wellness: Become a health consultant or a Yoga teacher to earn from your skill.
Tutoring: Teach language, skills, or fun activities to the children. Most of the parents in Dubai look for a tutor who provides professional teaching and helps their children to learn faster.
Pet Sitting – Pet lovers would hire you as their pets’ caretakers. When the owner goes to work, they need someone to take care of the pet, feed them or take them on a walk regularly. Pet sitting is the perfect business you could have in Dubai.
Cleaning Service: Most people who visit Dubai for a job find it difficult to manage their home chores. The cleaning service in Dubai has a great opportunity. It is a business that doesn’t need massive investment. You can start with a small team and grow as the demand for your service increases.
Blogging: Dubai has a brilliant landscape and several iconic places to discuss. Attractive infrastructure, beautiful beaches, skyscrapers, the largest mall, and various amusement activities. Blogging about the beauty of Dubai would make you one of the top bloggers in Dubai. You can have your blogging passion as a business.
Import export business: Not many people were aware of this, but the import export business in Dubai could be started with minimum investment. You need registration of the company and office space for the regular operation.
Run startup business in Dubai to acquire customers and trade the goods in the international market. No need to have a bigger team to start the import-export business. You need a minimum investment to start a business in Dubai; that’s it.
Starting a Business in Dubai is relatively easy when you know the process. If you still have confusion and do not know where to begin, it is advisable to consult with the Experts. The experts will help you answer all your questions about how to start a small business in Dubai. Reach the Impexperts team to learn more about the team. Take a small step today toward becoming the global player in the Import and export business.