How to start a profitable business in the United Arab Emirates
Year after year, market trends are changing according to new mechanisms, transformations, and commercial behavior of each area and country; therefore, the types of businesses, investment alternatives, and other sources representing income are altered Overtime.
Among the types of profitable businesses that we will see below for the year 2018 in the United Arab Emirates, there are alternatives from different sectors, such as internet businesses, environmental businesses, specific investment, and physical.
For this reason, we have organized them by categories that will allow you to evaluate and analyze the development of the particular business, its operation, and its viability in this country. Remember to keep in mind that preferably the profitable business options should be the ones that we like to develop the most and with which we can feel more comfortable because, without a doubt, this is a factor that will enhance the results.
A fundamental aspect that you must consider is that if you want to operate in this country, you must have a business license. Although it seems to be a complicated marketplace, it offers several profitable businesses that can be installed there.
Profitable Businesses in the United Arab Emirates
Dubai is the most modern and progressive emirate of the United Arab Emirates, which is developing very significantly and dynamically. Investors establish their companies in Dubai because they know the city’s potential and future. The town is characterized by exemption from tax services and payment of merchandise rights, located in a higher ratio than in the rest of the United Arab Emirates.
One of the most pertinent aspects when building a brand new company in Dubai is the cost of its creation. Likewise, the business community is very interested in this town to invest because they can create tax-free businesses.
Since you can open a free zone company or an offshore company, the free zone company is owned by the person who built it, and there is no requirement of an agent or a sponsor for the management and the link.
How to start business in the United Arab Emirates
When starting a company in Dubai in its various free zones, it is essential to note different rules and regulations, procedures, and fees related to the other zones. Many free zones require business owners to have minimal capital if they set up a new business in Dubai, compared to simply opening a new branch of an existing company or industry.
Company formation in the Dubai Free Zone is highly beneficial because it allows for full ownership of the company and can be established by one person on their own. Likewise, an investor can also open a Dubai bank account in this setup and own property.
Incorporating or registering offshore companies in Dubai and registering trademarks requires specialized knowledge. There are currently various companies that offer these technical services to help the investor start a company in Dubai. These companies help with business creation, including trademark registration, PRO services, accounting services, and payroll services.
Advantages of doing business in the United Arab Emirates
There are several reasons why investors choose entrepreneurship over so many other up-and-coming professions. Some people discover their ability to develop ideas from a very young age, and others work for a company until they mature their vision to run a business. But one thing all successful entrepreneurs have in common is the ability to use an opportunity in a suitable backdrop at the right time.
Regardless of how you get to this place, an entrepreneur’s greatest weapon is the ability to innovate—giving the individual the power to bring a unique solution to market, winning the hearts and minds of the target market.
One of the benefits of doing business in the United Arab Emirates is that you can get help from business establishment services consulting companies that can help draft various documents required to establish the company in Dubai. They even manage the presentations and take care of the multiple legalizations.
They also help you obtain visas and work permits for employees. They offer partnership options in the case of an offshore company or a branch. They also help to bring the various approvals required by the different ministries and departments and establish the bank accounts. In short, company formation consultants make business creation services in Dubai much easier.
Dubai is considered an ideal place to invest. It has a robust and competitive economy, rich in strategic locations and scattered with world-class infrastructure. It is a city with great economic potential and home to wonders that amaze the world.
From skyscrapers that defy gravity to underwater hotels that amaze and never cease to amaze. But, behind the success of these wonders were entrepreneurs who took the idea to a favorable environment and used the resources to launch the project and then transform it into a worldwide sensation.
Entrepreneurs can invest in a decent, profitable, and feasible place for customers. Dubai exhibits all of these qualities and offers 0% tax on most types of business, meaning a much higher return on investment compared to other highly taxed cities worldwide.
List of the most profitable businesses in the United Arab Emirates
Dubai is a potential market for promotion and marketing professionals because different advertising services can be started from home, and as the business grows, it can reach an entire establishment.
Also, Dubai is famous for fashion clothing because it is one of the most popular destinations for shoppers. After all, clothing is a lucrative field for investing in the UAE. Many applicants with knowledge and experience in the clothing and apparel industry are looking for trending and profitable apparel business ideas to set up their own companies.
The Global Textile Industry, particularly the Clothing Industry, has seen notable changes. The supply of wholesale clothing is increasing worldwide in all industry sectors, be it menswear, womenswear, clothing children’s, and baby clothes.
If you hold an innovative mind and a prospect at home, then Dubai’s arts and crafts industry has been created for enterprising people. Still, you can also sell the product globally from online marketplaces.
Senior man with needle and thread working over new item of fashion collection in his workshop or studio.
Also, the transport industry is highly integrated with Dubai, and starting a business in the automobile industry is a perfect proposition for new entrepreneurs, also having significant franchise opportunities.
The contract, as well as following the actual terms stipulated in it.
Energy, ecological, and sustainability businesses
These are the profitable businesses that have been classified according to their operation and characteristics in the ecological and sustainable sectors.
Biotechnology in health in the United Arab Emirates
Although technology will be firmly rooted in activities at a general level of the human being in the coming years, the truth is that it represents high viability in terms of investment and setting up a business to obtain profitability and profits. Therefore, biotechnology applied to the health sector can be a great income alternative for entrepreneurs who want profitable businesses in the United Arab Emirates.
Clean transport in the UAE
One of the constant concerns of the world at a general level is the means of transport since in the vast majority its use supposes the elevation of pollution levels. In this sense, the efficient means of transportation and do not emit any polluting gases will have comprehensive advantages in the market of this country.
Read more: Top Business Opportunities in Dubai you need to know!
Clean energy in the United Arab Emirates
One of the most significant challenges and, at the same time, most unique requirements is the use of services and products in the energy sector that work to provide clean energy in industries such as wind energy, solar energy, nuclear fusion energy, storage of batteries, biofuels, bioenergy, among others. These strategies represent not only a response to a local need, mainly but also a profitable business opportunity for entrepreneurs.
Sustainable housing in Dubai
The use of home automation is one of the biggest trends that continues its course and development in the market, which is why it promises to become one of the most profitable sectors. It is a system that allows homes not only to be self-efficient with respect to energy, but also to work systematically and represent good opportunities for entrepreneurs and improved conditions for the environment.
Food businesses
Undoubtedly one of the largest sectors and with the highest demand is the food sector, so that we will see below the profitable businesses in the United Arab Emirates in this sector:
Food with environmentally friendly packaging
For the same branch, in search of better options and conditions for the environment, food plays a fundamental role if we think about the number of packages that we acquire every day. For this reason, the food sector has become a boom, mainly aimed at those companies whose packaging does not represent a potential risk to the environment; that is, they are ecological.
Vegetarian food Dubai or Abu Dhabi
More and more individuals are entering the vegetarian foodstuffs sector due to different factors that lead them to it. However, with the growing demand for this type of food, the supply is not enough, so it is necessary to implement and set up profitable businesses that offer vegetarian foods to respond to the demand that arises.
Business in applications and digital systems United Arab Emirates
Last but not least, all those profitable businesses work with the use of digital systems, applications, and others. Let’s see what the United Arab Emirates offers in its main cities, Abu Dhabi or Dubai, in this sector that is so important worldwide:
Mobile applications in Dubai or Abu Dhabi
It will not be long before mobile phones become one of the essential tools of human beings if it is not yet. Mobile phones will become our means of work, entertainment search engine, wallet, entry key, and much more than we can imagine. Therefore, mobile applications would become one of the most profitable businesses in the United Arab Emirates and the rest of the world. The fundamental factors that the entrepreneur who decides on this business must consider will be innovation, efficiency, ease, and usefulness. In this way, he will be able to achieve the best results in the development of the business.
3D printing UAE
Until less than five years ago, 3D printers were entirely out of the reach of people in general since their use was only allowed for a few, as is the case with companies. However, currently, anyone who has the money for it can access one, only that the prices are still too high and the systems are still in the process of being finished.
Natural interface on mobile devices in the United Arab Emirates
These are technological systems that allow the user to access or interact with their devices without the fixed need to be subject to control systems, connections, cables, etc. Rather, and they can manage it from their gestural movements. In addition to this, the methods in the natural interfaces should also have operations based on the voice, gestures, or movements without the touch of the hand, communication, and thought.
Although some corporations are already operating on it, this business’s demand will be too high.
Usage and cloud services in United Arab Emirates
The cloud has become one of the essential tools for companies and workers, entrepreneurs, students, and others, since it is a system that allows the user to store files, documents, images, videos, and others, safely, for what, in case of formatting your computer, losing the key or simply losing your files, they will be stored and saved in the cloud without putting you in danger.
Due to the great utility of this mechanism, there are many companies that, in some way, begin to see the cloud as a system with which they must work hand in hand, as is the case with online courses, and programs, among others. Operating with the cloud represents high profitability because, in the growing market of the United Arab Emirates, this already means a necessity.
Undoubtedly, the United Arab Emirates has earned worldwide recognition for establishing itself as the most critical trade center located in the Middle East. Its international business center has presented considerable alterations and transformations for the market in recent years. Commercial activity has doubled in the United Arab Emirates, so many entrepreneurs from other countries set their sights on this country to set up a profitable business or invest in one of the great opportunities that are most in-demand.
Many business success stories in the country
The Cartier brand is a highly successful and prestigious business in the United Arab Emirates, and it represents one of the oldest jewelers in the world. All the time, celebrities and people of great power acquire this brand for their presentation. This successful business contains a brand of impeccable quality, positioning itself as one of the best jewelers in the UAE.
In addition to jewelry, they sell clothing and bags of superior quality; being a brand highly captured by the thousands of consumers in the region, it also has a significant cultural history, positioning itself at an international level. Channel is another high-value brand in the UAE, and it comprises a major global distributor of perfumery and other luxury items for a personal presentation. It is also one of the most competitive brands in the market and has a seal of superior quality compared to global competition.
This brand is from France and has branches almost all over the world, representing the elegance and culture of high society in its many products that can have a very high value outside the standards of the everyday community.
Gucci is the quintessential brand of high-quality glasses. It also has a wide variety of products in terms of clothing, perfumery, jewelry, and other personal presentation items available to all audiences.
It is mainly of superior quality Italian handicrafts, with international branches distributed worldwide. It also has its shoe line, which is widely successful in the UAE.
Hermes is another well-known company in the UAE. It is a company dedicated to luxury goods whose cost can be well outside the purchasing power of several societies. It is said that they have an article in crocodile skin adorned with rubies, valued at more than 140 thousand pounds.
The company has thousands of branches distributed throughout the world, representing a very high-quality seal for the consumer and luxury items for luggage, ornaments, jewelry, clothing, and other personal presentation items.
Christian Louboutin is another high-quality shoe brand that has been very successful in the UAE, with thousands of products sold in the region, and is a highly successful multinational company.
The products of this prestigious brand are sold for 490 Euros. For the value of its brand, thanks to its performance in the United Arab Emirates, there are some unique products of this brand that have crystal inlays valued at up to 6,000 dollars, which makes it a highly prestigious brand in the world of footwear.
Prada is a prestigious brand in the country, which has achieved considerable strength in the territory, has thousands of branches globally like other prestigious brands, and represents a case of high impact and success in the UAE.
This brand sells clothing, jewelry, and other personal presentation items that have achieved a very high-quality seal in the region, with thousands of satisfied customers.
Different scams and frauds that have occurred in the country
Fraudsters strive to attract victims, to fall into the trap of scams and deception. Authorities have been warning residents about fake messages circulating in the UAE recently.
The first scam aims to trick people into believing that they have won a cash prize from a well-known hypermarket. Residents have to share their personal information, including credit card details and Bank accounts, to claim the reward. The second scam allegedly comes from bank representatives who have to update the victim’s account statement. Victims are then asked to provide information regarding their bank accounts, debit card numbers, and sensitive PINs.
Once the scammer owns all the account details of the scammer, the suspect proceeds to steal funds from the bank account in question.
Scammers’ third most common scam involves posing as an officer from the Bur Dubai police station, calling their victims if they do not initially respond to the SMS. Al Ameen Service stresses that all text messages contain suspicious links and urges residents not to open links from unknown sources.
