When it comes to starting a small business, many modern investors and entrepreneurs opt to do it in the UAE. Due to the robust working environment, business-friendly legislation, and a helpful government, local businesses in UAE enjoy increasing surplus and generate large revenue right from the start.
It’s not difficult to start a small business in UAE, and if you follow the appropriate steps, you can get it up and running in two to three weeks. It is therefore advised to contact the business advisors at Index Office Services, who offer comprehensive business support by handling every aspect of company formation in the UAE at a reasonable rate.
8 best small business ideas to start in the UAE
Entrepreneurs who want to open a small business in UAE must submit an application for a small business license in order to legally conduct their operations. The best news is that getting a small company license in the UAE is fairly inexpensive, and here are some of the ideas to start a small business in the UAE.
- Event management
- Health and wellbeing
- Real estate
- Web development
- Cleaning services
How to open a small business in UAE
a. Finalize your company’s legal structure
The availability of a wide range of legal business structures is one of the major benefits of establishing your small business in the UAE. In the UAE, you are able to establish a single proprietorship firm and take full ownership of the company.
b. List down the business activities
You must select from a list of more than 2,000 legal business operations kept on file by the DED that correspond to your needs. Before submitting a licensing application in the UAE, all legal companies are required to list certain activities. Make sure you don’t miss out on any legal operations because local businesses in UAE aren’t allowed to engage in activities that aren’t authorized by their license.
c. Choose a trading name
Since it is a necessity when applying for the initial approval certificate, trade name reservation is crucial. Small businesses and well-established corporations alike must secure a distinctive trading brand for their organizations. Additionally, you want to maintain a name that accurately describes your business endeavors and isn’t in any way deceptive. Make sure you adhere to all the naming convention rules that the government has established.
4. Get a good office space
The benefits of renting an office space in the UAE include avoiding large upfront real estate investments and the complexity of selling the property once you decide to leave the country. Additionally, Index Office Services offers reasonably priced virtual offices so you can start your ideal business remotely in the UAE.
5. Choose a business license and other additional approvals
Once you have completed all of the aforementioned processes, you should submit an application for a small company license. To demonstrate their legality in the UAE, businesses must always have a current business license.
Do you have any commercial endeavors in the UAE that aren’t permitted by your small business trading license? If so, don’t be alarmed. All you have to do is request additional approval from the relevant bodies for such activity.
6. Open a bank account
In order to manage the many financial activities related to your small business in UAE, you must open a corporate bank account in the UAE. Working with a bank that delivers solid banking services and long-term business advantages is essential. Additionally, be careful not to rush your selection and pick a bank only after doing extensive research.
7. Control visas
After the implementation of new visa changes that give you the ability to get multiple visas, managing visas for you and your family members in the UAE is simpler than ever. As a result, you can also apply for visas on behalf of your relatives and domestic help. Additionally, the size of the office space you get for your small business affects immigration permissions.
Consult Index Office Services
We are right there to support you to start a small business in UAE. Right from several tax exemptions to the repatriation of profits, just get in touch with us and we will guide you through every step.
Call us now for a free consultation…!!!