The investor-friendly environment of the UAE empowers business owners to launch their dream ventures in the country, and the tax-friendly regime helps them generate sizable revenue. Here, we discuss some of the best business ideas in Dubai by taking into account your business requirements, budget, target market, the domain of interest, and much more.
Top 7 Successful Businesses in Dubai
1. Restaurant/Food Outlet Business
The massive inflow of tourists in Dubai combined with the breathtaking architecture makes opening a restaurant in this region a no-brainer. You can offer delicious food, open theme-based food outlets, and experiment all you want with your new business in Dubai in the foodstuff sector.
The investors need to apply for a food license to launch their restaurant business in the UAE. You can acquire the same from the Department of Food and Safety and apply for external approval to DTCM (Department of Tourism and Commerce Marketing).
2. IT Services
The surge in the Information Technology sector is out there for everyone to see. It was among the quickest industries to adapt to the “new normal” after the outbreak of the COVID-19 pandemic. You can explore diverse business opportunities in the IT sector when you launch your company in the UAE. These include app development, SaaS services, biotechnology, technology for finance, and many more.
You can establish your IT services company in any of the specialized free zones to reap maximum rewards. Free zones like the Dubai Silicon Oasis (DSO) and Dubai Techno Park (DTP) offer lucrative business opportunities for IT business aspirants.
3. Marketing Management
The UAE is home to several leading marketing management companies. Its position in the list of some of the best business ideas in Dubai is indisputable because companies of all sectors and sizes need a marketing management team to handle their front. You can offer a host of services that include branding, paid-ads marketing, organic lead generation, etc.
It’s your responsibility to showcase your expertise in this field by offering top-notch marketing management services to your clients. This will help you build an impressive portfolio to capture new markets and make a name for your brand in Dubai’s lucrative marketplace.
4. Project Management
Business aspirants looking to open a project management company in the UAE are moving in the right direction. It’s a lucrative business industry with multifold opportunities up for grabs. You need to connect with the business licensing authority to obtain your project management company license.
In case some of the business activities aren’t covered in your issued license. You can apply for external approvals and get them added. You can provide expert advisory services, project timeline management, event planning, and much more via your project management firm.
5. Garment Trading Business
The garment trading business ranks among the most successful businesses to start in Dubai because of the favorable market conditions. You can easily set up your textile trading business in the mainland, free zone, or offshore region based on your business requirements.
The UAE’s government empowers you to manufacture, export, and distribute the garments within the country and to other nations as well. You can get in touch with the business experts at Shuraa, and we’ll help you obtain the garment trading license at minimal costs by taking care of all the legal procedures for you.
6. General Trading Firm
The general trading sector is quite blossoming with bright opportunities for trading companies, thanks to the top-notch transport facilities and cost-effective business formation in the UAE. All you need to do is apply for a general trading license by getting in touch with the concerned economic department and submit all the required documents and approvals.
You can import, export, and re-export numerous commodities. The list of permissible items includes foodstuff, ornaments, electronic accessories, home decor, and a lot more. Note that the trading of alcohol, drugs, etc., doesn’t come under a general trading license.
7. Tourism Business
Be it for business or recreation – Dubai remains everyone’s favorite spot and the tourism industry continues to be among the best businesses in Dubai. Tourism opportunities include improved surplus in various subcategories like medical tourism, sports tourism, and cultural tourism among several others.
The UAE was vigilant with its safety protocols which resulted in it being among the few countries to allow inflow of tourists after the initial wave of the pandemic. Passionate entrepreneurs can launch their tourism venture in the Emirates by providing their touch of creativity.
What are the Advantages of Forming a Company in Dubai?
Listed below are a few advantages of setting up your dream venture in Dubai:
- You have dedicated industrial zones and business parks established in the UAE that cater to your specific needs. You have technology parks, academic zones, and industry-specific free zones as well.
- Don’t need to worry about resource availability when you form your company in Dubai. The advanced infrastructure and digitized business functioning ensure there aren’t any hiccups in your day-to-day business life.
- Setting up your venture in the Emirates is also beneficial because startups and SMBs get a low barrier to entry. You can repatriate 100% of your profits and capital gains, and there aren’t corporate taxes that you’re liable to pay.
Top 7 Business Ideas in Dubai – What’s Your Pick?
Dubai is very welcoming to various business industries, and if you follow the right path, you can establish your company here in a quick time. Which category does your business model belong to among these top 7 business ideas in Dubai? Even if it doesn’t, you don’t have to worry. All you need to do is collaborate with the experienced consultants at Shuraa. We’ll help you set up your company in the UAE.