Dubai is one of the topmost business destinations for entrepreneurs and investors in the whole world. The constructive government policies and top-class infrastructure support and assist in the development of start-ups, small businesses, and large corporations.
Setting up a new business in Dubai is now easy for the citizens of the UAE as well as foreign investors. The presence of foreign companies is a major boost to the economy of Dubai which helps in the commercial and structural growth of the country. Therefore, to woo foreign investments, the Dubai government lay down certain business policies and benefits from time to time that is dynamic and fruitful to the businesses.
So, if you are looking to invest in the UAE or setup business in Dubai, here are top markets or potential business ideas for your consideration.
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Construction:-
Undoubtedly, Dubai is well known for its amazing skyscrapers and state-of-art buildings like Burj Khalifa. It is a city where new buildings and structures are built constantly, with new designs and ideas. This allows an opportunity for engineers, architects, and other professionals associated with this field to kick-start their business. Likewise, industries that supply raw materials and resources for construction purposes can choose Dubai as their ultimate business ground and gain profits.
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Trading:-
Trading in Dubai is a lucrative sector. Starting an import & export business in Dubai can be profitable in terms of growth opportunities and productivity. The country’s economic diversity and relaxed laws can facilitate your business’s success by providing an exemption from tax and customs duties, and an advanced logistics and transportation setup.
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Real estate:-
Known as the abode of expats, the majority of Dubai is occupied by foreigners. The place which is most visited in the world has a good property value all over UAE. The property and real estate market in Dubai is rewarding and has a vast scope of opportunities in commercial, residential, and industrial fields. According to reports, the real estate business itself contributes almost 7% to the overall GDP of the country. Believe it or not, real estate is currently one of the booming industries in Dubai.
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Tourism & Travel:-
Dubai is, undeniably, one of the major tourist destinations in the world. According to reports, it is ranked fourth most visited place, for commercial as well as leisure purposes. Dubai’s well-developed travel facilities and hospitality attract millions of foreign ex-pats and visitors every year to set their foot in this land and explore the wonders of this place. Moreover, the city keeps adding several attractions frequently to invite more and more visitors. With advanced infrastructure and increasing tourists, starting a travel and tourism business can be a profit-full idea.
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E-commerce:-
Dubai’s E-commerce market is the fastest-growing market in the UAE. The Dubai government’s initiatives and programs have played a key role in the growth of the e-commerce sector. The increased security, improved trading, and public trust in digital transactions has contributed to the overall development of this sector. Establishing an e-commerce business can be profit-earning as there are masses of consumers to target. Moreover, the business doesn’t require a big investment and can be run remotely while profiting from low taxation laws.
You may like it: Start a Small Business in Dubai in Simple Step
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Information Technology:-
Innovation is the key to success, and UAE is topping the list. Dubai has accommodated many tech start-ups in the last many years. A magnet for international tech-based businesses, the Dubai government has unrolled policies and initiatives to motivate tech innovation and attract tech industrialists. The continuous growth in the economic structure of the city has given birth to new technologies and updated the old ones. The IT sector in Dubai has been ranked the tenth fastest growing industry in the region, focusing to establish the world’s smartest city in the coming years.
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Healthcare:-
The covid-19 pandemic has brought numerous challenges all over the world and drastically affected all industries. However, it has also increased attention towards the importance of health and uncovered new opportunities for the healthcare sector to grow and flourish. There had been a great demand for healthcare service providers and facilities during the pandemic. Listing it as one of the priority sectors in the UAE market, Dubai has made huge investments in R&D, Pharmaceuticals and Medical Advancements, Innovation and Technological Developments holding partnerships with several countries regarding the supplies of medical equipment and healthcare services.
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Consultancy services:-
Having expounded knowledge about anything is an added advantage for a well-qualified person. People who have ample experience and solid knowledge in any of the specialties can make a lot of profit by setting up a company in Dubai providing consultancy services.
To get detailed information about various consultancy businesses that have the potential to prosper in Dubai, contact Shuraa business setup experts.
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Restaurants & Eateries:-
Food has always been a basic amenity and a restaurant that offers quality food is a huge accomplishment. It is one such business that can yield and succeed in every part of the world. Even during the pandemic, food chains were the most active sector after healthcare, providing door-to-door services.
A food business in Dubai has a high probability of success with the UAE government’s increased interest in investment in Travel & Tourism. Food & snacks have a high demand in Dubai among the tourists and expatriates who are staying alone. In the coming years, it is expected to be one of the booming industries in Dubai.
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Beauty and Jewellery products:-
UAE market is the best place to dig for luxurious goods like beauty or grooming products, perfumes, jewelry, etc. Known as Mecca of Gold, Dubai is popular for its abundant availability of precious ornaments like Dubai Diamonds. A salon business or a jewelry store demands low investment and has high chances of subsequent growth.
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Security services:-
A land of rich resources and luxuries calls for extra safety and protection. Even though the UAE government ensures safety to foreign businesses, top companies and firms hire additional security to conduct safe operations. Elite people who own a great amount of wealth and properties prefer personal security for their assets. Hence, it has increased the demand for security professionals as well as safety devices in Dubai.
Procedure to start a new business in Dubai
The process to start a new business in Dubai is plain and unfussy. Anyone can setup business in Dubai without facing any difficulty. The country’s investor-friendly policies are greatly appreciated among expatriates and resident entrepreneurs. The basic procedure for company formation in Dubai is as follows:
- Determine the business activity.
- Choose the location – Mainland or Freezone
- Finalize the legal body of the business.
- Register the company.
- Acquire a Business trade license.
- Get required approvals from the relevant authorities
- Submit the necessary documents to the respective department
- Obtain a business license.
- Start the business operations
Now that you have got a clear idea regarding the industries and sectors that you can focus on, get in touch with us to establish your business in Dubai. Shuraa’s experienced team of professionals will guide you with cutting-edge information about the business opportunities, market figures, and UAE’s laws for setting up a company in Dubai.
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To learn more about the top industries for new business in Dubai, call +97144081900 or drop a WhatsApp message on +971507775554. You can also email us at enquiry@shuraa.com.
