Business setup in Dubai – Throughout the world, the economy has taken an impact because of covid-19. Challenges were brought to us by the pandemic, but it also unveiled new opportunities. Low import duties, low tax rates, free trade agreements, strategic locations, a competitive economy, state-of-the-art infrastructure, and many other benefits make the United Arab Emirates (UAE) one of the world’s best to deal business.
If you are looking for a business setup in Dubai in recent times, here are some pointers on Dubai’s most flourishing businesses.
Business based on renewable energy resources
As long as traditional energy resources exist, they will continue to be in use as long as they perish. We have been moving to an era where renewable energy sources are more relied on. In terms of technological improvement and considering long-term resources, investments in renewable energy resources are known to be wiser, so financial institutions say.
Consumption of renewable energy has gone up drastically in ten years worldwide. It had increased from 124.1 million tonnes in 2008 to 561.3 million tonnes in 2018. UAE has enormous potential when it comes to solar energy generation and wind power energy generation. They also have huge areas for tech start-ups like public-private joint ventures, inter-government start-ups, and private start-ups. The dedication of the UAE towards renewable energy has been flourishing over the years.
Agriculture as a form of business
A few months back, talking about national food security would have been considered an outdated anachronism by the global system. Throughout the entire lockdown, continuous deformation in supply chains has brought this matter into the light for national governments. The government’s objective is to ensure that the country survives the lockdown period without importing food.
In accordance with the worldwide Food Security Index 2019, the UAE had ranked 21st. The government of UAE has launched the National Food Security Strategy 2051. This strategy emphasizes the production of local food by utilizing modern technologies. When the whole world was under complete lockdown, Pure Harvest Smart Farms, a UAE-based agro-tech start-up specializing in tomato cultivation during environment-controlled farms, secured $120 million investment commitments and a fresh $20.6 million funding.
Business involving digitalization, e-commerce, and automation
The current pandemic crisis has stepped up the megatrends like advanced robotics in a number of fields like medicine production to education and digitization of products, services, and total automation. The demand for digitalization, e-commerce, and automation is now operated from the perspective of quality perfection and business process optimization. Still, it is also considered unavoidable in COVID-19, and the fear of new emergencies occur anytime and derange production. Technology advancement has provided a number of solutions for monitoring remote business setup in Dubai, which is already primarily utilized for logistics and production with minimum human involvement.
The switch from human resources to robotics in manufacturing foundries and lines is highly time-consuming and expensive. The idea of production security from emergencies like COVID-19, saving human-related expenditure like salaries, insurances, pensions, and leaving behind competitors with flawless machine quality and perfection will be very helpful.
The application industry is one out of so many sectors that have thrived during the COVID-19 lockdown. UAE residents have started using apps to meet their needs for everything, starting from grocery to food delivery, online learning, fitness and health, online working, and even psychological state support. In light of the “new normal,” low coded app development has also grown with leaps and bounces in recent months. The apps designed with minimum coding knowledge are going to stay. This has also opened the door for a new breed of developers to enter.
Online teaching is a profitable business in 2021
The pandemic hit the schools and universities hard. All over the world, as well as UAE, has taken their learning online. Most students have not stepped into a classroom physically since all of this started. The UAE made distance learning mandatory, just like all over the world. Since the beginning of the pandemic, 95%of schools have practiced online learning. So, as it has panned out, online schooling is an advanced industry to get into right now. It is very cost-efficient as all you need to have are the qualifications, a laptop, and some good internet connection.
Applications are nothing new, but they saw a rush during this pandemic. People have been looking for easy and simple ways to get things delivered, keep in touch with their family, entertain themselves, etc. because of this rush, the demand for app development has skyrocketed in popularity. This has been an excellent start-up plan since low code app development needs minimal knowledge of coding.
If you plan to start a business during this period and require professional advice, you can contact the Dubai Business Setup company. We provide our customers with ample facilities. If in need of help to start up your company, do not hesitate to contact us.
Select the Location Wisely
This is another very important step when it comes to planning a business start-up. Locating a business can help optimise accessibility, convenience, and even costs. Setting up a business in a growing economy would not do you any good if your customers cannot reach you.
The best-suited area for your business would be anywhere which is most profitable for your business. This not only means that you get more customers, but the rent is cheaper, and the daily commute is easier. The best way to judge a location solely depends on the type of service or product you are selling.
If you plan to set your business in a Free Zone company and Mainland, you must select it based on a few criteria. The few requirements are costs, distance, and if it is suitable for your product, trade, or service.
If you are planning on renting a place, the tenancy contract must be concluded. Basic amenities like storage, telecommunication, and infrastructure should be provided. However, apart from these basic requirements, other services offered can vary greatly.
Confirm Your Visa Eligibility
Gathering a visa that permits you and your employees to stay in Dubai is essential to run the business. The majority of the business can get a visa. However, the numbers can vary depending on the nature of the business, size of the office, and category of the employee or investor.
If your start-up in Dubai is a local or international business company, you need to work beside your sponsor to get the visas. The visa application process is not too strict here, and almost every business is welcome. Nevertheless, asking your sponsor to apply for your visa is oftentimes a good idea.
Apart from your passport and other legal requirements, you need a letter from the sponsor. The letter must have your and their personal information highlighted along with the reason for the visa and other relevant information.
Dubai, UAE is the perfect and best city if you want your business to boom. However, you should have enough contacts and connections with local agencies to have a fruitful business there.
One of the leading names in that industry is Dubai Business Setup Consultants. We offer a vast variety of services and can help you set up a free zone, mainland, and even offshore businesses.
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