It’s no secret that the United Arab Emirates is investing heavily in diversifying its economy. They’re aiming to reduce their reliance on oil and gas revenues.
As a result, business is booming in Dubai and Abu Dhabi. Year on year, this Middle East region is expanding its influence as a global investment hub. The best business ideas are transformed into international market players. Dubai is the world’s fourth-best performing economy – and big business is growing exponentially.
The best place for entrepreneurs and investors? You want to be in the UAE.
Trade License Zone has helped guide many a startup to grow into a profitable business. You can too. Make use of our business setup services and business consultancy services to cut out the hassle so you can concentrate on your products, services and customers.
Reducing Obstacles to Business
The UAE recognized how it could improve its economy in the wake of the COVID-19 pandemic and its ramifications. It is now easier than ever before to start a business and work in the UAE.
Business opportunities abound: the UAE is a strategic location for global exposure and international free trade. From a consulting business, financial services, online business, local taxi services, advertising agency, and even health and car insurance – the UAE’s is creating a culture of innovation through economic development.
Businesses in Dubai thrive from so many entrepreneurs, big business, a supportive business hub, and skyrocketing business activity. Dubai is driving huge demand for skilled and talented individuals: this city region is the largest employer of scientific and technical jobs in the world.
The UAE government has updated its business laws and visa regulations. To take full advantage of the benefits of these business-friendly laws, get in touch with Trade License Zone to help with your startup’s business license, work visa, and residence permit.
Which business is the best start in Dubai? What are some of the most profitable businesses in Dubai right now and which are the strongest emerging trends?
Business in Dubai is Profitable Business
There are many reasons to set up a business in Dubai. The UAE takes zero taxes on personal or business incomes – with no foreign exchange controls. Your business will also benefit from free international trade with low import duties. This is all because the Department of Economic Development (DED) created innovative and reflexive business laws that encourage greater investment. And, the United Arab Emirates boasts a world-class infrastructure where East meets West.
Best Business Types in the UAE
If you’re looking to start a business in Dubai, here are some successful business ideas in Dubai for your consideration.
1: Construction Sector
The construction sector in the UAE took a slight knock in 2020 because of COVID-19. But, it has rebounded to record levels in 2021. This trend is set to continue as investment into the UAE increases and the property market surges to new heights.
Green building infrastructure – as well as home and business construction – are strong market sectors to be involved in right now in the Middle East. A construction company in Dubai offers excellent returns on investment. Also, consider a building materials supplier: the demand for these is going through the roof.
2: E-Commerce Retail Business
Just about all retail businesses in UAE have an e-commerce element. That wasn’t so before COVID-19 came along. Now, businesses are scrabbling to digitalise. E-commerce businesses don’t require large investments to start off. The COVID-19 pandemic showed just what a profitable venture the e-commerce sector is for this region – and around the world. The UAE is a leader in internet users with more than 85 percent of the population regularly shopping online. Luxury online retail is the biggest retail sector in the UAE – and it is spreading its retail services internationally at a rapid rate.
COVID-19 dramatically shut down the tourism industry. Slowly, business tourism and travel is reopening around the world. As one of the world’s largest tourism destinations, Dubai continues to invest in its tourism infrastructure. International-level stadiums, events facilities, and other attractions are under construction. Luxury travel will return and Dubai is one of the top destinations for holidaymakers. Shopping tourism, medical tourism, sports tourism and cultural tourism are the most trending sector of tourism. A local travel agency is a great tourism business to start to take advantage of these attractions.
4: Real Estate Agency
The UAE’s growing population – now at 9.7 million – means that real estate is in constant demand. Commercial real estate is the fastest-growing segment of the Dubai landscape, while residential markets are expanding to new regions around Dubai and Abu Dhabi. More foreigners and more business mean real estate agencies will be thriving. Don’t forget: property management is also a highly sought-after service in Dubai. Consider starting a real estate business to deal in residential, commercial and industrial property.
5: Health and Well-Being
The medical and healthcare industry in Dubai is seemingly increasing by the day. Dubai is the largest employer of scientific jobs in the world – and medical companies are innovating solutions for the Middle East, Africa and the rest of the world at unprecedented levels.
Luxury spas, wellness retreats, medical tourism, telemedicine, and medical dispensaries are big business in Dubai.
6: Maintenance and Repairs
Companies – and homeowners – require maintenance and repair services for their infrastructure, tools, and machinery. Electricians, plumbers, electronic repairs and other technical professionals are in high demand. With the relevant skills, you can start such a business and immediately begin trading.
Dubai is world-famous for its foodie treats. Restaurants – and ghost kitchens – are growing. Takeaways and food delivery services are on the rise – with more than double-digit growth month-on-month. A good restaurant in Dubai has the potential for huge success in the UAE.
8: Consultancy Service
A consultancy service is an in-demand business need in Dubai. Specialists providing essential services to assist businesses – be it marketing, organizational, IT or retail are proving essential. Freelancers are also allowed to operate in Dubai in this field. This expands the Business activities and support available for startups and established companies. Business in Dubai is growing rapidly – and business processes need to be optimized to keep up with this demand. Consider opening a consultancy service with a speciality such as a marketing firm or an advertising agency.
9: Recruitment Agency
As Dubai continues to attract leading international companies and investors for startups, so the job market flourishes. More than 90 percent of the workforce in the UAE is made up of ex-pats. More and more are seeking their dream jobs in Dubai. Foreign job seekers need the support and expertise of a local recruitment agency.
10: IT Services
Technology is without doubt one of the largest employment sectors in the UAE. Specialists in e-commerce, web development, mobile apps, social media marketing, online businesses, are amongst the most sought after business opportunities in Dubai. Online PR firms are also a lucrative business in the Middle East right now. E-commerce is the retail focus – with startups and specialists developing solutions for businesses.
#11: Online Teaching
The COVID-19 pandemic affected students, schools and universities. Online learning took precedence for millions of students around the world. Virtual classrooms are now the “new normal” – online teaching is the safest and most convenient format for education.
Some 95 percent of schools in the UAE have implemented an online teaching platform for their students. Online teaching – and online education in general – is one of the fastest-growing digital technology sectors in the world.
Setting up a business in Dubai is easy
The process of setting up a logistics business in Dubai has been designed with simplicity in mind. That said, it does take some in-depth knowledge of the UAE and its numerous customs and regulations.
That’s why it’s always advisable to acquire the services of a Dubai business setup company that can not only advise on the process but also seek out the most suitable license and setup type for your business, based on your needs and your budget.
By making use of business setup services, you also gain peace of mind that your license and visa applications are free from errors and omissions – both of which can lead to delays and rejection.
When you work with the experts at Trade License Zone, all you need to provide is some basic documentation and a little information about the nature of your business. Then, sit back and let the experts take care of the rest – managing your license and visa applications, communicating with all relevant departments and authorities, and reporting back when you’re ready to start trading. It really is that simple.