How to Set up a Small Business in Dubai, UAE

1. How to set up a Small Business in Dubai, UAE

2. Set up a Small Business in Dubai, UAE With a population of more than three million and a fair influx of visitors, aspiring entrepreneurs can fare well with a small business setup in Dubai. When you think of a startup, the initial picture could be that of a corporate office with young workers, a football table and a swanky pantry. However, there are numerous possibilities when one wants to set up a small business in Dubai. Starting small could mean providing consultation based on yours expertise from a desk space or opening a tea stall next to a parking lot, or even selling groceries. The possibilities for small business setup in Dubai are vast. However, one needs to bear in mind some important factors before they start a small business in the UAE.

3. How to open a small business in Dubai, UAE There are just 7 steps required to start a small business in the UAE. Finding sponsorship Preparing documentation Legal formalities Choosing location for business Set up a business with the right staff Marketing Get professional assistance

4. Without a doubt, starting a small business in Dubai will be on Finding sponsorship the steeper side. From obtaining various permits, renting out space, furnishing it, buying equipment, getting supplies, and paying staff salaries, to promoting your business, the process might be an expensive affair. If you do not have the required funds, find a like-minded partner, or consider taking out a business loan. Most banks in the city do not require any collateral, offer flexible repayment plans, and have simple documentation processes. Although the amendments made to the Commercial Companies Law allows expat entrepreneurs to have 100% ownership of their business, the deposits required for the same are quite high. Therefore, if you want to do business on Dubai Mainland, you should partner with a local sponsor. This local partner will act as your service agent who will charge you a mutually agreed annual fee.

5. Preparing documents for business setup This involves several government agencies inspecting, approving, and issuing various permits you will require for your business operations. The main document required for setting up a small business in Dubai is your trade license, which is either issued by the Department of Economic Development (DED) or the respective free zone authority under which your business will fall based on your choice of location.

6. Below are the basic documents you would have to keep handy while applying for a small business license in Dubai: Business plan NOC from shareholders (if any) Relevant government forms duly filled Passport copies of partners Memorandum of Association (MoA) Visa page copies Trade name reservation certificate Emirates IDs Initial approval certificate A copy of Ejari (tenancy contract)

7. Legal formalities Depending on the nature of your business, you might need to get some formal permits. For instance, to open a restaurant in Dubai, you need to obtain a trade license from the DED or the respective free zone authority or the Department of Tourism and Commerce Marketing (DTCM) depending location, a food and safety license issued by the Department of Food and Safety, and an NOC is required from the Dubai Municipality. on your

8. CHOOSING LOCATION FOR BUSINESS The address of your office or store speaks for your brand, which is important for your business. Dubai has specific areas which are suitable for certain categories of businesses. For example, Sheikh Zayed Road and Business Bay host premiere corporate offices, Dubai Healthcare City houses specialty clinics and hospitals, Media City is home to the branches of several international media companies, DIFC is the hub of financial institutions, and the industrial areas are where most of the assembling and manufacturing units are located. However, there are other factors to bear in mind while choosing your business location. Its proximity to public transportations such as bus and metro stations so that your employees and potential clients can travel conveniently, the availability of eateries and convenience stores, and parking facilities among others. Moreover, the interiors of your workplace matter too. The decor, vibe, pricing, and personal touches including furniture and lighting also play a major role in attracting clients as well as creating a healthy work environment. The city has no dearth interior designers and companies offering complete furnishing solutions at competitive prices.

9. Set up a business with the right staff Your hiring choices could make or break the project, so, take your time to find the right people to run the show. Inquire not only about their past experience, but also try to figure how they get along with colleagues, large teams, and deal with clients under pressure. You can outsource this to a staffing company. Furthermore, you can also get their visas and documentation professionals with expertise in the field. done via

10. Marketing Newly opened businesses in Dubai need to advertise themselves across varied platforms, including print and digital mediums. Having an in- house IT team would ensure your visibility in this fast-paced world with rapidly evolving technology. Associating with a public relations company dealing with clients in the relevant industry is a good idea as you might already have too much on your plate. Trust these executives to prepare press releases, run social media campaigns, organize promotional events that help your company step into the limelight.

11. Get professional assistance The process of establishing your own venture might sound overwhelming given the investment and multiple factors mentioned above, but you can get help at every step on your journey with expert consultants at Shuraa Business Setup. The team will advise and assist you with both planning and walk you through the formalities required to start a small business in Dubai. From helping you choose an ideal property for your dream project, identifying a local sponsor and getting the paperwork sorted at various stages, to getting special permits, Shuraa spells success. Furthermore, the company will also guide you with financial aspects and take care of PRO services.

12. How Much Does a Small Business License Cost in Dubai? Therefore, between AED 20,000 and AED 30,000 is considered a safe bet. It’s vital to remember that the small business license cost in Dubai will increase if you require special privileges. any amount For example, regulations like a foreign trading name or approval add to the entire cost. You can reach out to Shuraa’s company formation experts, and we’ll help ensure you don’t overpay at any time during the procedure for starting a small business in the UAE. Numerous factors influence the small business license cost in Dubai. Your business operations, license type, location, and other factors are among them. A trading license for your small business can also be issued for as little as AED 20,000. governmental

13. Here’s a list of documents you need to start a small business in Dubai: Passport copies of all the stockholders in your company (if any) A descriptive business plan document 01 05 Duly filled application form NOC from your service agent 02 06 MoA and LSA agreements A valid tenancy contract 03 07 Payment receipt of trade name registration 04 Paperwork Involved for Starting a Small business in UAE

14. 10 BEST SMALL BUSINESS IN DUBAI AND UNITED ARAB EMIRATES Construction Events company Real estate Restaurant/Cafe Home Cooked Food Delivery Cleaning services Health and wellbeing Web development Transport Recruitment Agency

15. CONTACT US Sheikh Zayed Road, Office 501, 5th floor, Aspin Commercial Tower, Dubai, UAE +971 44081900, +971 50 7775554 www.shuraa.com info@shuraa.com

16. Thank you For watching...