Starting a business in Dubai from India necessitates careful planning, critical financial decisions, and the completion of various legal activities. A business person must carefully analyze everything, from profits and losses to the types of laws and policies in the country for conducting business.
The UAE, which is home to 3.5 million Indian expatriates, and India have long valued unity and mutual respect. And over the years, it has proven itself a thriving business hub for Indians. So if you want to start a business in Dubai from India, stay with us.
This blog covers all you need to know about starting a business in Dubai for Indians. Everything is covered, including the associated fees, benefits, paperwork, and procedure.
So, without further hesitation, let us begin.
Top 3 Business Ideas in Dubai for Indians 2024
Dubai allows for several commercial endeavors. However, here are some profitable business ideas to consider.
1. Real Estate Agency
Real estate is one of the most sought-after industries in Dubai, given its start-of-art infrastructure and technology. There is a steady rise in the number of individuals moving to Dubai. Furthermore, it is a hotspot for entrepreneurs and an investment hub. As such, the need for properties is only going to rise.
Consequently, you can launch a business in Dubai that provides real estate services for commercial, residential, and industrial properties.
2. E-Commerce Solutions
In the modern UAE market, e-commerce solutions are the most effective among the prosperous business concepts in Dubai. The city is a forerunner in digitization. Plus, unlike most other business sectors, starting an e-commerce business in Dubai requires only a small investment. You can quickly set it up and scale it as per your wishes.
3. Restaurant Business
Dubai is home to some of the world’s best restaurants and food. As such, a restaurant that serves high-quality food will be successful in Dubai. Also, if you have a secret recipe that tastes amazing or if you specialize in a particular cuisine, nothing like it.
Benefits of starting a business in Dubai
There are numerous benefits to starting a business in Dubai for an Indian, some of which include the following:
1. Flourishing Economy
The United Arab Emirates has one of the best economies in the Middle East, a high per capita income, and a substantial annual trade surplus. Companies benefit from highly stable financial conditions and financially advantageous circumstances.
Furthermore, investment in Dubai has increased dramatically in recent years. The UAE has outlined a plan to increase its non-oil exports and tourist industry to double its gross domestic product to 3 trillion dirhams ($820 billion) by 2031. The massive infusion of foreign wealth has aided Dubai’s economy even further.
2. Ease of Doing Business
Establishing a new business in Dubai is simple because of helpful government agencies and cutting-edge infrastructure. You can easily access the local and international markets for trading. Also, the seamless connectivity to the rest of the world via airports and ports makes importing and exporting items easy. Finally, the various funding options available in Dubai may aid your company’s rapid expansion.
3. Zero Taxes
You won’t have to pay taxes when you open a business in Dubai, which is one of the significant advantages. Dubai exempts all residents from all taxes, including personal, corporate, and income taxes. However, some businesses may be required to pay a 5% VAT on specific commercial operations.
How to start a business in Dubai – The Company Formation Process
Starting a business in Dubai from India is easy if you follow the proper steps. The complete process is broken down into simple steps for you below:
1. Choose a Business Activity
You must be very clear about the nature of your business. A list of your company’s operations can help you decide where to set up your business and will point you in the right direction. It will also assist you in selecting the appropriate trading license category for your business.
2. Decide Your Trade Name
You must choose and register your company name with the UAE Registry Office with the assistance of the Trade License Zone.
The company’s trade name may include your name, but it must be used entirely rather than just your surname or initials. The company name must comply with the UAE’s naming regulations, which state that no offensive or vulgar words or allusions to Allah or Islam are permitted.
Some more rules must be adhered to. Thus, it will be wise to consult experts well-versed in the naming rules.
3. Rent Office Space
To carry out certain business operations consistent with the nature of your enterprise, you will need to rent an office space, warehouse, or virtual office with a sustainability contract in Dubai. Furthermore, you must register with Ejari to receive your tenancy contract and save your unique Ejari number for future use.
4. Apply for and Receive Your Trade License
To conduct business in Dubai, every company must obtain a trade license. The three main trade licenses offered by the DED (Department of Economic Development) are commercial, professional, and industrial. Based on your business operations, select the appropriate license type.
Send your application and supporting documentation to the DED or, in the case of a free zone, the administering body. Your application will be carefully reviewed, and if it meets all of the requirements, you will be sent an email with a payment link. Pay the fee to obtain your business license.
5. Apply for a Visa
After requesting your trade license in Dubai, you can apply for your visa and open a corporate bank account. Your visa may allow you to sponsor family members and employees’ visas, depending on your meat dealing license.
6. Open a Bank Account
You must establish a business bank account. This will allow you to manage your finances better and keep track of each transaction.
Document required for start business in Dubai for Indian
When applying to open a business in Dubai from India, you must submit the following paperwork:
- Passport copies
- Passport size photographs
- Entry visa or stamp page
The setup professionals at the UAE Expansion may provide you with a comprehensive document list depending on your business activities.
What Is the Cost of Starting a Business in Dubai for Indians?
It is difficult to provide a detailed breakdown of the costs associated with establishing an Indian company in Dubai. To determine the actual cost, you must consider the business’s size, type, office space, jurisdiction, and more.
To give you an idea, the business cost in Dubai from India can range from AED 10,000 to AED 30,000. You may contact the UAE Expansion India Branch business setup specialists for a complete breakdown of the costs.
Start Your India Business in Dubai
Starting a business in Dubai from India is now easier than ever, thanks to the city’s favorable business climate and ever-expanding infrastructure.
The process can be complex, but the knowledgeable business experts at UAE Expansion can assist you with everything and set up your company at a low cost. Use our legal counsel to complete the registration process quickly. All you have to do is contact us, and we’ll take care of the rest.