Indian investors have made significant contributions to the development of Dubai’s business industry. For this reason, the government of Dubai continues to provide excellent opportunities to these individuals. The future of business in Dubai for Indian nationals is looking bright.
In this article, you will know everything about these opportunities available for Indian entrepreneurs, in addition to some ideas for the best business in Dubai for beginners. Also, you will learn the new company registration process in Dubai. Let us observe:
- Business in Dubai for Indian nationals: What is the procedure?
- Why should you consider Dubai?
- What are the most popular sectors and activities for Indian investors in Dubai?
- How can Connect Services Middle East help you?
1. Business in Dubai for Indian nationals: What is the procedure?
1.1. Select a business activity
First, you must be certain about the nature of your company. Having a list of your business activities will give you a direction and help you decide where to set up shop. It will also assist you in determining the best type of trading license for your company. Now, it is important to note that we offer you excellent business licensing services.
1.2. Engage the services of a business consultancy
Getting advice from experts is critical before starting a business in Dubai for Indians. Business consultants will not only provide you with expertise in the field and the right ideas, but they will also help you through the registration process.
They are also very helpful with other services such as educating you about potential costs, opening a bank account, and so on. We offer affordable business setup services through expert business consultants.
1.3. Choose a trading name
To start a business in Dubai for Indian nationals, you must first choose a trading name and have it legally approved. Your company name should not contain any words that are violent, offensive, or controversial. This may result in your company name being rejected. If you want to name your company after someone, make sure to use their full name.
Whatever name you choose, it must be followed by your company’s structure; for instance, LLC, FZE. Once you have decided on a name, you must register it with the DED.
1.4. Obtain a visa
You and all of your business partners, as well as your employees, must be visa eligible. Visas are typically granted in Dubai for all types of business activities. The number of visas that can be obtained varies depending on the nature of the business and activities to be carried out.
To obtain your visa, you must submit copies of your partners’ and employees’ passports, as well as other required documents.
1.5. Register your business
For the registration of your company, you have to do it with the Department of Economic Development. You must draft an MoA (Memorandum of Association), have all stakeholders sign it, and have it notarized by the Department of Economic Development.
To obtain permission for your company’s smooth operation, you must submit and authorize all documents with the department.
1.6. Apply for and obtain your trade license
To conduct business in Dubai, every company must have a trade license. The DED primarily issues three types of trade licenses: commercial, professional, and industrial. You must choose the appropriate license type based on your business activities.
Apply to the DED or, in the case of a free zone, to the managing authority with all required documents. Then, your application will be thoroughly reviewed, and if it meets all of the requirements, you will receive an email with a payment link. Make your payment and obtain your trade license.
In addition, in this article, you will learn how to get a DED license.
1.7. DCCI membership
Apply for a DCCI membership online. With a low-cost membership, you can start a new business in Dubai right away. This membership assists you in gaining your customers’ trust and confidence. By serving on committees, you can easily influence the city’s business events.
You must go through the application process. If you have a good business idea, it will be accepted. In addition, Connect Services Middle East can help you with the process of your online company registration in Dubai.
1.8. Submit an application to the Ministry of Labor
To obtain an establishment card, apply to the Ministry of Labor. Before beginning any business activity, you must register your company’s labor unit with the Ministry of Labor. The ministry is in charge of enforcing company rules and regulations for both employers and employees. It ensures that they maintain their stability and peace.
1.9. Register your workers
You must register all of your company’s employees with the General Authority for Pensions and Social Security. It protects them from any form of exploitation before, after, or during their employment with your company.
1.10. Renting an office space
Lastly, you will need to rent a virtual office with a sustainability contract, desk space, office space, or warehouse to carry out specific business activities depending on the nature of your business. To obtain your tenancy contract, you must first register with Ejari. Get your unique Ejari number for future use.
Without a doubt, following all these steps will make business in Dubai for Indian nationals successful.
2. Why should you consider Dubai?
2.1. Government support
The Dubai government offers exceptional opportunities for business in Dubai for Indian individuals. Dubai’s authorities provide new company registration in Dubai with several tax breaks; as well as the convenience of connectivity and solid infrastructure.
Furthermore, the liberal policies emphasized Indian investors; as well as the business setup structure primarily focused on Indian nationals, allowing for the establishment of a business in as little as three working days. (With all required documents and approvals)
2.2. The location is strategic
Dubai serves as a crossroads for Eastern and Western countries and benefits from the advantages of being centrally located. With its relaxed norms and cosmopolitan population, Dubai also serves as an entry point for establishing business throughout the Middle East region.
Dubai is only a three-hour flight away from India, making it a convenient base for Indian companies to monitor and regularize their operations in the global market. Furthermore, the city is home to the world’s largest marine terminal, Jebel Ali Port, as well as the most connected airlines, Emirates and low-cost carrier Fly Dubai, making Dubai the best destination for distribution and trading companies.
A world-renowned infrastructure providing unlimited office space as well as exceptional round-the-clock communication and internet facilities is an added benefit to doing business in Dubai, UAE.
With no personal or corporate taxation, Dubai provides profitable opportunities for Indian business investors. Unlike the various taxes levied on investors and businessmen in India and around the world, Dubai not only provides a base for such depositors but also accumulates tax savings.
Nonetheless, with recent developments in the UAE’s tax system, VAT has been implemented, and excise tax is also applied to some products in the UAE. However, the tax benefits outweigh the Indian tax policies. With low import duties, free trade agreements, and double taxation agreements, you can be confident of establishing a profitable business in Dubai, UAE.
3. What are the most popular sectors and activities for Indian investors in Dubai?
You may be wondering what the best businesses in Dubai for Indian investors are. Following, we offer you a list of businesses in Dubai for Indians:
3.1. IT sector
Firstly, we have the IT sector. Smart technology, according to His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is a catalyst for happiness.
The government of Dubai aims to make its residents’ lives more convenient and less stressful by widely adopting technologies such as:
- The internet of things (IoT).
- data analytics.
- Hyperloop technology.
- Commercial 3D printing.
- And artificial intelligence (AI).
3.2. Industrial sector
According to the latest Competitive Industrial Performance Index (CIP), the industrial sector of the country is really competitive among the Arab countries. The CIP ranking is in charge of measuring global industrial competitiveness; they are based on the production and export of manufactured goods, technological depth and upgrading, and global impact.
The UAE’s industrial sector was also ranked 30th in the world in the CIP 2021, placing it in the top 20% of countries.
The UAE’s industrial sector ranked third in the Middle East, trailing only Turkey and Israel. With this, the country has risen five spots since the report’s 2020 version and nine spots since the 2017 version.
According to Gulf News, this indicates increased competitiveness in the UAE’s industrial sector, in line with the National Strategy for Industry and Advanced Technology, Operation 300bn. Meanwhile, Germany, China, the United States, Japan, and South Korea ranked first through fifth in this year’s CIP.
3.3. Transportation and logistics
The art and science of moving goods, services, and information into and out of an organization are referred to as logistics. In a business, it includes aspects of the supply chain such as inventory management and goods transportation.
Any company can benefit from a better understanding of logistics and handling it more efficiently, but with tighter funds and shorter margins; SMEs need to focus on these potential cost savings that could mean the difference between make or break.
The UAE has an excellent business environment that is supported by government incentives. The UAE has many lucrative and appealing areas. One of these is the logistics industry and any activity related to it. It is without a doubt one of the most profitable businesses in the UAE.
Hence, consumer demand is consistently high, resulting in rapid growth in domestic and global transportation. It applies to both large-scale global cargo administrations and local wholesale deliveries of various goods.
3.3.1. Dubai Logistics City Free Zone
Starting a business in Dubai Logistics City Free Zone will provide you with a plethora of business opportunities and competitive advantages in the global market. The possibilities for starting a business in this free zone are as follows.
- You can conduct business in this zone without paying taxes, both locally and internationally.
- Appropriate banking services, as well as the ability to engage modern logistics centers
- Global tax and customs payment optimization
- Capability to ensure freight forwarding activities and pricing policy optimization
3.4. The UAE food and beverage industry
Lastly, we have the food industry. As the world’s largest producer of oil and gas, the UAE is extending its arms to boost the non-oil sector to generate new revenue streams. On an international scale, the food and beverage industry is regarded as the second largest.
In the UAE, the sector has grown by 22 percent in the last five years, reaching a value of $13.2 billion by 2018. The possibilities are not constrained by geography. Let’s take a look at the UAE’s domestic and international food markets for clarity.
3.4.1. Food manufacturing industry
Business owners and investors who want to start a food manufacturing business in Dubai have the option to do so. In this case, the owner must have a manufacturing license to legally operate the business.
Plus, the permit will be issued by the Dubai Department of Economic Development (DED) following a thorough examination of the essentials provided. Furthermore, approvals from Dubai Municipality and other government agencies are required.
4. How can Connect Services Middle East help you?
You can easily profit from ideas that require a minimum investment to start a business in Dubai. In this way, business in Dubai for foreigners is easier than ever before, thanks to a lucrative business environment and rapidly expanding infrastructure.
The process can be confusing, but the expert business consultants at Connect Services Middle East can help you with everything and set up your business at a low cost. With the assistance of our legal advisors and the best packages, you can complete your registration process without difficulty. In addition, we have the best ideas for business in Dubai for Indian nationals.
We are glad to help business people around the world. Additionally, if it is your case, we can assist you with your Indian branch company in Dubai. All you have to do is email us at firstname.lastname@example.org; or call us at +971 43 316 688. We will provide you with answers to any questions you may have.
On the other hand, if you need a job opportunity, we are your best option on thetalentpoint.com. Visit this portal and apply for any job offer that suits you and your skills. Send an email to email@example.com for more.