NOW IS THE RIGHT TIME TO START A BUSINESS IN DUBAI

INTRODUCTION

There is no better time to start a Business in Dubai than now. Considering the impressive economic developments in this crowd-pleaser city, the idea of starting a business looks even more relevant. Investors from India or other neighbouring countries and foreign investors have started shifting their base to this Middle East city to grip the increasing economic reforms. Such reforms implemented by the United Arab Emirates government possess long-term visas and even complete ownership to foreign investors. 

Why is now the perfect time to Luanch Business in Dubai

Setup business in Dubai has experienced a positive impact due to the landscape of new reforms and the inflow of foreign direct investments (FDI). Here are some visa options provided by the UAE government to facilitate business reforms in Dubai: 

Long-term residency: 

Things are not the same anymore. Make Dubai your business home with the United Arab Emirates government’s wide range of long-term visas. Also known as the Golden Visa, it is an investor’s best bang at ensuring a renewable 10-year residency in the UAE. The Golden visa holders can sponsor their families as well. 

Who is eligible for this renewable UAE residency visa: 

It is open to investors, specialists in the field, entrepreneurs, scientists, graduates, frontline workers, and even humanitarian pioneers. 

The Game-Changer Visa: 

The Five year Green visa is a game changer for Dubai as it eliminates the dire need for a visa sponsor. By getting this visa on your business list, you can sponsor yourself for five years. If you are a "Green Visa holder", you can easily get a residence permit for your family members, including your spouse and children and a permit even for your first-degree relatives. 

Who is eligible? 

Skilled employees, partners, and freelancers can apply for this no-sponsor residency visa. 

ALSO READ: WHAT IS FIVE YEAR DUBAI TOURIST VISA

Entry Permit: 

UAE has provided an entry permit to seek business opportunities in Dubai without the requirement of a host or sponsor. This visa allows entrepreneurs and foreign investors to explore the wide business opportunities available in the land of sand extravaganza. 

Ready to regulate your virtual assets? 

The UAE government established the Virtual Assets Regulatory Authority (VARA) this year to formulate a regulatory framework for virtual assets such as cryptocurrencies. Apart from developing all-the-more general policies related to virtual assets, this Regulatory Authority (VARA) will regulate and issue permits to virtual service providers who plan to establish their business or company in Dubai. 

Operation 330bn 

The United Arab Emirates is actively looking to raise its industrial sector and its contribution to the overall global economy. Operation 330bn for industrial and manufacturing sectors is founded upon core goals to increase their contribution to the GDP from Dh133 billion to Dh300 billion by 2031. One of the goals is to make UAE the central hub for some of the famous future industries. 

A look at the National Entrepreneurial Project 

UAE has a wide range of projects and setups to support startups and SMEs in Dubai, which are part of significant sectors. One such project is Entrepreneurial National Project. The project aims to have 20 unicorns in the city by 2031 and to attract young and skilled professionals and foreign capital to the country. These points elucidate how Dubai can be your next business setup city. You can easily set up your startup in Dubai with all the benefits and residency permits the government allows. 

SOME DECIDING FACTORS: 

Well, if you are still sceptical in deciding to start your business in Dubai, the following four factors might help you to give your decision the correct direction: 

Is your business idea in demand: 

There is a vast difference between the hour needed and what is available. In lieu of the COVID-19 pandemic, the gap has inevitably enlarged. The question arises whether your business idea suits the requirement of serving people or is even right in times of dire consequences. You should probably take a step forward to stimulate its launch if it does. If it does not, waiting for a conducive environment or things to fall in place for your Business idea is beneficial. 

Tweak the business slightly to match the new demands: 

If the business idea slightly deviates from the in-market demands or customer requirements, consider making minor changes to your project by putting the available resources, capital, skills, and other necessary things in place. With this statement above, evaluating both immediate and non-immediate consequences play an optimal role. 

Get the business idea off the ground: 

Another important deciding factor is asking potential talents to join your company and facilitate its growth. You will probably choose the best if they are prepared to make the necessary sacrifices. Make effective use of the strategy “distribution of talent and time” 

Starting a business in Dubai? Keep the following things in mind: 

Get a registration agent 

Registering your business is the first step in setting up a business in UAE. And here, hiring an agent makes your tasks even more straightforward. Get yourself a registered agent and make your business reach growth prospects with the agents’ guidance and assistance. 

Find the perfect location. 

Your business is heading towards the right direction when it is accessible to the audience or the client population. Easy access to the audience is directly proportional to a good future profit. So, go into the research realm, and choose the best location for your best business idea. 

Final approval is a must. 

You will definitely have to get initial approval; only then can you plan to start a Business in Dubai after that you can find the perfect location and look out for an agent. Now that these things are well sorted, go for final approval to ensure there are no obstacles ahead. For this, get all your business documents and other things ready. 

Need a Hand? 

Planning for a business setup in Dubai? If so, we at Dubai Transit E-Visa will be more than happy to help you with your visa requirements with well-versed and acquainted consultants to guarantee a hassle-free visa approval experience. 

CONCLUSION: 

Popularly known as the business hub of the Middle East, Dubai can be with next business flourish city. Unlock your business idea’s growth direction with the proper guidance and advisory. Check out this article to know more about business prospects in Dubai, which will definitely convince you to a business setup there. 
The influx of foreign investors has enhanced business growth prospects in Dubai. Keeping in mind the opportunities provided and available, as well as ensuring the deciding factors in business setup, you probably have no reasons to convince yourself not to start a business in Dubai now. 

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