Setting up a business in Dubai is known as one of the best decisions to make among young entrepreneurs. The reason is simple- Dubai is a place to be. It has become a hub for business setup in UAE. It is growing so fast and offers countless opportunities especially to foreigners. There are great benefits of having a low-cost business setup in Dubai. 100% foreign ownership, low corporate tax rates, and many others. Additionally, the expenses associated with establishing a company in Dubai are considerably less compared to other cities in the world.
You can choose from different available options according to your preferences and needs. Before taking a step, you must consider certain factors such as your business location, company name, office space, and your business activities.
In this blog, let’s discuss things to consider for a low-cost business setup in Dubai, available options for setting up your own company, costs related to business setup, and more.
Things to consider for a low-cost business setup in Dubai
The following things you must consider before starting a low-cost business setup in Dubai include:
Set your business goals: Create a detailed business plan. It must outline your short-term and long-term goals, including financial projections and marketing strategies.
Expert Consultation: Contact business consultants in Dubai to gain valuable insights. They will give you guidance on all the regulations and requirements.
Low-budget Offices: Consider affordable co-working spaces or shared offices in Dubai. It will help you to minimize costs and overhead expenses for your startup.
Gather all the required documents before-hand: Prepare all necessary documentation for business registration, licensing, permits, and other legal requirements to avoid delays or complications.
Be calculative: Keep a close eye on your finances as Dubai can be expensive at times. Budget wisely to ensure growth for your business setup in Dubai.
Company set up in Dubai with 6 steps!
You can set up your own business in Dubai with these six steps.
Step #1 Choose your business activities.
The 1st step is choosing relevant business activities according to the nature of your business. The business activities are those you will conduct for your business operations here in Dubai. Dubai offers 2000+ business activities. You can choose accordingly.
Steps #2 Choose a unique trade name.
After choosing your business activities, you need to choose a unique trade name. Make sure you are complying with the rules and regulations set by the government of UAE.
Step #3 Register your trade name.
After choosing, you can now reserve and register your name to the DED. If you are starting a business in free zones, then it must be registered with their relevant free zone authorities.
Step #4 Obtain your trade license.
Now you can gather all the required documents and get initial approvals if required. After getting pre-approvals and a notarized Memorandum of Association, submit all the documents to the relevant authority. Pay the fees and obtain your trade license in Dubai.
Step #5 Get your residency visas.
After getting your trade license, you are free to obtain your UAE residency visa as a business owner. It is usually valid for 2 years.
Step #6 Open a bank account in Dubai.
You can hold your bank account in the United Arab Emirates. It is best to get help from a business consultant in Dubai. Our business consultants are experts in business setup services. You can contact us to start your process with us!
Options for setting up a company in Dubai
In Dubai, you can set up your company in different areas. There are three basic options available including free zone, offshore, and mainland. You can choose any of these your preferences and business needs.
Let’s check out a brief description of these three business setup options.
Business setup in Dubai free zone
Free Zone offers you 100% foreign ownership. It is governed by the relevant authorities of the specific free zone. So, you have control and flexibility. The visa quotas may be limited. It is one of the best options for startups. It offers low investment options.
You can start your own free zone company on a very tight budget with different coworking space options.
Offshore business setup in Dubai
For offshore company formation, you need to obtain business licenses from the relevant authorities. It allows you to have one shareholder or more. You can open a bank account in the UAE. It is also considered one of the most cost-effective options when setting up your company in Dubai.
Business setup in Dubai mainland
Business setup in Dubai mainland offers you unlimited access to local and international markets. You can choose from over 2000 business activities in Dubai mainland.
You are free to apply for different low-cost residency visas. It is regulated by the DED known as the Department of Economic Development.
10 best business to start in Dubai with low-investment
In Dubai, you can get thousands of business ideas that cost you low. Some of the popular and best businesses to start in Dubai with low investment include:
- Home-made food business.
- Event management services in Dubai.
- Photography business in Dubai.
- Business consultation services.
- Digital marketing services.
- Cleaning services.
- Dropshipping services.
- Transportation services.
- Healthcare and well-being.
- Property management services.
How much does it cost for a low-cost business setup in Dubai?
Starting a business in Dubai, UAE is itself a low-cost investment. The reason is that it offers low tax rates, and the process is straightforward with a lot of other benefits. It is a relatively cheaper option than setting up your business in any other stable country in the world.
A low-cost business setup in Dubai costs AED 11,000*. In Dubai free zone, the cost starts from AED 12,500*. In other Emirates, such as RAKEZ, you can start your company in just AED 5,000*.
Contact the best business setup company in Dubai!
It is always advised to choose the best business setup company in Dubai for your business setup in UAE. The reason is that they handle everything for you. From preparing all the paperwork to obtaining a business license in Dubai, they do all.
Emirates Business Setup has been here in the market for years. Our primary goal is to always check our client’s budgets and then choose the best option for their business needs. Struggling with how to run a low-cost business or already running and looking for license renewals and residency visas? Connect with us and start your business journey with low-cost investment in Dubai. You can call us at 971585067175 or send us an email at [email protected].
FAQs
What is the expected cost to start a low-cost business in Dubai?
The cost of business setup starts from AED 11,000* in Dubai mainland. If you are setting up your company in Dubai’s cheapest free zone, the cost of setting up will be around AED 12,500*.
How to find the right business setup consultants in Dubai?
It is challenging to find the best business setup company in Dubai. But here are some tips for you while choosing business consultants in Dubai:
- Make sure the consultants have a good reputation and solid experience in interest.
- Check Google reviews of the business setup company.
- Make sure they prefer quality work.
- Communication must be clear and transparent.
How to start an e-commerce business without money?
One way to start an e-commerce business without money is dropshipping in UAE. With drop shipping, you can sell products through an online store without having to invest in inventory upfront. To promote your e-commerce business without money, use social media platforms like Instagram, Facebook, and Pinterest to reach potential customers.
Can I open a bank with an offshore business setup in Dubai?
Yes, you can open a bank account with an offshore business setup in Dubai.
