Dubai is one of the most preferred locations for starting a trading business in Dubai. It has the best high-tech infrastructure, modern facilities, a luxurious lifestyle, and ample business opportunities. No doubt, entrepreneurs from across the world always show interest in investing in Dubai.
It might surprise you to learn that Dubai has 3,000 start-ups, with 200 of them founded by Indians. There are various factors that attract Indians to do business in Dubai. And in this blog, we’ve covered everything from aspects, advantages, documents, processes, and even trading business ideas in Dubai.
So, if you’re interested in starting trading in Dubai, we suggest you read ahead.
What Are the Factors That Attract Indian Entrepreneurs to Do Business in Dubai
There are many factors that lure many Indian entrepreneurs to Dubai. A few most prominent ones are as follows:
- The UAE’s strategic location allows entrepreneurs to expand their startup business in the Middle East and Africa.
- Indian entrepreneurs get access to a pool of diverse and global talent. Moreover, startups have permission to hire people from anywhere around the world. Also, they can later ask the employees to relocate to Dubai.
- It’s a popular fact that Dubai offers ease of business setup. The government provides flexible policies, rules, and regulations. Therefore, trading in Dubai is not much of a hassle. Moreover, they don’t have to pay any type of taxes.
- The Dubai government offers a long-term residential visa to talented expats. It’s popularly known as the Golden Visa. Along with this visa come many benefits and friendlier government policies that make staying in Dubai with your family easier.
- Next is Intelak, a Dubai-based technology and innovation hub. It supports start-ups in the early and late stages. Moreover, Intelak offers resources, mentorship, and tools to entrepreneurs to start and grow new businesses.
What Are the Types of Trading Businesses You Can Start in Dubai?
There are several types of trading businesses that you can do in Dubai. Here is a list of some of the best trading business ideas in Dubai:
- Since Dubai offers a luxurious living standard, people in Dubai are very fond of maintaining the same attire. They’re very much interested in accessories, garments, and jewelry. So, opening a luxury boutique in Dubai is an excellent business idea.
- Another option is automobile trading. There is enormous potential to earn profits through this business as people in Dubai are very fond of luxury cars.
- Given the technological advancements of Dubai, starting electric computer accessories or construction equipment & machinery trading is also a good idea.
- Dubai is known as the land of gold. But it’s not just famous for gold but also other precious metals. People from across the globe visit Dubai to buy metal and jewelry especially. Hence, starting a precious metal trading business in Dubai is also an incredible idea.
There are various other trading business ideas in Dubai that you can pursue. You can get in touch with the business setup experts at UAE Expansion India Branch to learn about more such business ideas.
What Are the Required Documents to Start a Trading Business in Dubai?
To give you an idea, here’s a list of the primary documents you need to start a business in Dubai.
- Photocopy of passport
- 2 passport-size photographs
- An entry visa
Besides the document listed above, you will be required to submit a few more. Although it is easy to arrange documents to start a trading business in Dubai, it’s best to take the help of business setup professionals. They can help you with a detailed list of documents.
What Is the Process to Start Trading in Dubai?
Here’s an overview of the process of starting a trading business in Dubai:
In the Case of a Free Zone Trading Business
- First, decide on a company name and check the name availability.
- Next, select the business activities you wish to conduct.
- Look for suitable office space and register it with Ejari. Furthermore, obtain your unique Ejari number for future reference. You can also sign a virtual office service agreement with your company.
- Gather and submit all the required documents. Also, pay the fee for a general trading license to the concerned free zone authorities in UAE.
- Once the officials approve your application, you will get your trading license.
In the Case of Mainland Trading Company Registration
- Reserve the desired trade name for your company and get approval from the DED (Department of Economic Development).
- Get a court notarization and other external approvals if required. These can vary based on the nature of your business or the type of activities you choose.
- Look for office space and sign a tenancy contract. Moreover, remember that registering your office with Ejari is mandatory.
- Submit all necessary documents and general trading license fees to DED (Department of Economic Development)
- If everything seems in place, the DED officials will issue your license.
There are a few additional steps involved in the process. But to get acquainted with those, it’s best to get in touch with legal experts.
What Is the Cost of Starting a Trading Business in Dubai?
It is challenging to give you a complete breakdown of the costs involved. However, to provide you with an idea, the cost of setting up a general trading company in Dubai can be anywhere between AED 30,000 and AED 50,000. To get the details of all the costs involved in starting a general trading business in Dubai, you must reach out to experts at the UAE Expansion India Branch.
Start Your General Trading Business in Dubai With UAE Expansion
Now that you are fully equipped with all the necessary information about setting up a general trading business in Dubai, we’re optimistic that you can easily start one. However, there are still a few details that you must be aware of for a hassle-free process. Therefore, getting in touch with the business setup experts at the UAE Expansion India branch is best.
They are well-versed in the entire process and guide you at every step. They will take care of everything from business ideas to advice, gathering documents, getting approvals, and getting your trading license. Moreover, they can wrap up the whole process faster and get your license in just a few days. All you need to do is give them a call, tell them your requirements and sit back. As a result, you will have your license quickly, and you can easily start trading in Dubai.