Dubai has become one of the leading international business centres and regional hubs in the world. It has quickly emerged as one of the best places to do business in the Middle East due to its state-of-the-art infrastructure and world-class professional environment. Other factors that have made the emirate an ideal base for multinationals and other companies is the city’s strategic location, tax-free living and strong economic outlook which is effectively allowing many investors to target markets in Central Asia, the Middle East, Africa, the Asian Subcontinent and the Eastern Mediterranean.
The emirate is also going to be hosting EXPO 2020 which is the world’s largest trading event that is estimated to bring in around 25 million visitors during the span of October 2020 to April 2021. This means that many new prospects and business opportunities will present it as well as spur even further development in the emirate and the country as a whole.
There are many small business start-ups that require small investments that can successfully grow in the city. These sectors and in demand due to the continuous rise in population which is opening up many new business opportunities for investors. Below are some of the areas that are currently excelling and in demand to which people can invest their time and wealth for a better growth.
It is one of the easier platforms to get the work and residence permit. It also provides more opportunity to present the business to other geographical entities as trading has a multinational environment and culture.
Ecommerce (Online Business)
One of the fasting growing trends in Dubai are online businesses as it is one of the most cost effective areas to invest in. the popularity of Ecommerce is growing in demand and popularity as even the government has introduced many of their services to be conducted through their online website. An example of an online business is SOUQ.com whose valuation is reportedly $ 1 billion.
With only a small investment, Restaurants, Coffee shops, cafeterias, Typing shops, management, marketing, advertising, HR and many other services based businesses are thriving at a rapid pace in the city.
Travel & Tourism Business
Tourism has become one of the core businesses in Dubai. Due to EXPO2020, this sector is expected to grow tremendously as more construction of new hotel complexes and other tourist infrastructure are set out because of the influx of visitors during the EXPO and leading up to it.
In terms of what entrepreneurs can expect their initial investment must be for small business start-ups in Dubai, one must take in account the jurisdiction, fee and residence visa. For a free zone license the fees on a yearly basis will is $ 570 per month and residence for three years is $ 1500.00. For main land license the investment will be around $ 13300.00 and residence will be $ 1089 for duration of three years. For an offshore company the fees will be $ 2700.00 annually and residence visa will be on a yearly basis.