The city of Dubai is known for being the home of huge money and large business.
It’s easy to see why the world’s top business leaders and entrepreneurs flock to this region. The UAE has a fantastic location between the enormous markets to the east and west, as well as a 0% tax rate and an extremely welcoming business environment.
However, these characteristics don’t just come together to make the optimum location for major firms. In addition, the UAE supports a large number of single entrepreneurs, freelancers, and small businesses. Behind the brilliant lights and sky-high buildings is a community of entrepreneurs who are working their way to the top by bootstrapping their way to the top.
There are many options open to you if you want to make your mark in this growing business landscape while staying on a budget. Here are a few to think about.
In Dubai, what is the best business to start?
Dubai is home to a variety of growing and robust industries. Aside from the obvious choices, such as oil and gas or financial services, the ambitious entrepreneur has a variety of other options.
Your background, skillset, and enthusiasm will determine the best business to start in Dubai. From film production and new media to healthcare, tourism, and technology, everything is available here.
So, if you’re considering starting a business in Dubai, start by asking yourself, “What is my passion?” What are my most important abilities? What issue can I help with?
How to start a business in Dubai without money?
The main question now is: how can you establish a business in Dubai without any money? Or, perhaps, how to start a business in Dubai with small initial investment? Because, in reality, setting up without paying a dollar is just as possible here as it is anywhere else.
With that in mind, here are five enterprises you may start with little or no money.
Wellness: Dubai’s health and wellness sector is projected to be worth almost USD 3 billion, making it the largest in the Middle East.
There is no need for additional funds if you already have experience in this field. Teach yoga on the beach, work as a personal trainer, or create nutritional regimens for the emirate’s busy workers — all without the need for expensive equipment or setup.
Consultancy: You’re ready to become a consultant if you have smart business clothes, a laptop, and a thorough understanding of your sector.
There are no precise requirements, but you must have relevant expertise in your sector, which could include industry-specific degrees or years of on-the-job experience.
The management consulting sector in the GCC is worth USD 2.8 billion, increasing 7% over previous years.
Online trading: Setting up an online store currently just requires basic computer skills, thanks to widely available e-commerce platforms and template sites. All you need now is a product to sell.
Use a drop shipping firm to keep prices down. These companies will store and distribute your products on your behalf, saving you money on inventory and warehousing.
Web design: Thousands of businesses in Dubai seek to get their message out there online. The rewards can be plentiful if you have the ability to assist them.
All you need is a computer, some software, and a knack for self-promotion.
Tutoring: Using the abilities you already have is one of the best methods to keep costs low when beginning a business. Tutoring is an excellent approach to accomplish this.
You have the option of tutoring in person or via video conferencing. It isn’t simply for traditional subjects like math or languages. You could teach cooking, crafts, dance, or whatever else that comes naturally to you.
Starting your business in Dubai
Keep in mind that you’ll need a license for every business you start. This is where the expense enters the picture. But don’t worry, it’s only a smidgeon.
Setting up a company in a free zone with the help of a company formation specialist is the most cost-effective approach to start a business in Dubai. We can walk you through the important steps, which include:
Business activities: Your licensed activities are identical to the ones you propose to do. In Dubai, there are thousands of business activities listed. The activity or activities you select will be determined by the type of your company.
Company name: You must follow the UAE’s naming guidelines while picking a company name.
In your company name, there must be no offensive or blasphemous words, as well as no references to Allah or Islam. If you want your name to appear in your company name, you must spell it out completely, not simply your surname or initials. You should also make sure that the name you want to use is accessible for registration.
Applying for your license: We can handle the full application for you, including communicating with the necessary authorities.
Applying for your visa: You will need to visit an immigration center during the process to provide biometric information. The visa application also includes a fitness test, blood test, and chest x-ray.
Providing you meet the salary criteria, it is also possible to sponsor others for their UAE visas too, such as your children, partner, or parents.
Working with a company setup expert
Whatever type of business you want to start, it’s simple and economical to do it here. The cost of forming a corporation is determined by the type and size of your company. It is, however, possible to start a business on a shoestring budget.
But be warned: while the application process isn’t difficult, it does necessitate the use of a professional eye. Your application could be delayed or denied if it contains mistakes. That’s why working with a company setup professional in the UAE to assist you to start your business is often a fantastic choice.
When working with a company setup specialist, all you need to offer is some simple paperwork and some information about your firm’s nature. Then relax and let the professionals do the rest, including maintaining your license and visa applications, liaising with the appropriate departments and authorities, and reporting back when you’re ready to begin trading.
