The retail store in Dubai is gaining a lot of popularity. With the increasing consciousness of customers, businesses need to focus on what the customers need. Shopping has become one of the most important parts of the Dubai economy.
Setting up a retail business in Dubai is a pretty profitable option. Dubai is the main hub for shoppers. There are a variety of malls with a wide range of collections. It won’t be wrong to say that the fashion sector in Dubai is growing with each day. Businesses considering starting a retail business need to have a retail license.
Reports suggest that the retail sector in Dubai contributes around 22.85% of the economy. There has been a significant transformation from the basics to the advanced level. The customers are now looking to value the property to get extensive benefits. Setting up a company in Dubai can help to drive significant profit.
How to set up a retail store?
Retail shops are thriving. Therefore, it is highly crucial to choose an option that will allow growth in the long run. Dubai has a significant population. Therefore, businesses must focus on providing the best item.
If you are considering setting up a retail business in Dubai, you need to understand the basics. The economy in Dubai is growing. The building of various shopping malls has also contributed to the development of various investment opportunities.
Dubai is the hub for setting up a retail business. If you want to set up a retail business, you need to understand which location would be the best. Mainland Company Setup is definitely one of the best places to start your retail business. However, if you plan to start an online retail business, you can start a business from any location.
The things to consider while setting up a retail business in Dubai include the following:
Draft a business plan
To get faster approval for your retail license, you need to draft a strong business plan. However, you should refrain from drafting just a basic business plan.
When you set up a retail business in Dubai, you need to know the entire market. Therefore, before creating any business plan, you should consider doing proper market research on the same.
While creating a business plan, you should define your goals clearly. You need to know who your target audience is. Moreover, there are several retail businesses in Dubai. Thus, the competition will be huge. Why should people choose you over your competitors? While this may sound like a stupid question, this is actually really helpful for your business.
Define your business activity
What will you be doing? If you are starting a retail business in Dubai, you need to define the activities clearly. When you know the kind of business activity you will be setting up; you will understand the type of license you need.
The government also needs to provide approval on the same. The process of starting a retail business in Dubai will vary depending on the type of business you’re starting. If you are starting a clothing business, you will need specific approval from the government. Similarly, if you start a food or jewelry business, the approval will be different. Depending on the business you are starting, you will need a particular kind of approval from the government.
Business License and registration
Getting a retail business license isn’t easy. You need to make sure that you have all the legit and valid documents to get benefits. At the same time, you must submit all the proper documents.
The Department of Economic Development in Dubai will be analyzing your profile. This government-regulatory body will provide you with the license only if you meet all the criteria.
Hire a local agent
If you are new to Dubai and want to start a business, you might as well work with a local agent. The local agents are professionals in their field. They can assist you in getting easy approval to conduct your business activity.
Business Link UAE is one of the most prominent local agents you can trust. With years of experience and service to different clients, we help them get license approval easily.
Hire skilled employees
Once you have received the license, you need to hire professional and skilled employees. Moreover, before you choose a manager for your retail store, you need to conduct proper research about them.
Choosing the right manager can be extremely beneficial in the long run. The skilled manager will play an important role in helping you conduct your regular operations.
Nonetheless, you should check the type of license you are getting. Individuals, in some cases, may get an Intelaq license. However, in that case, you will be barred from hiring any staff. Individuals with an Intelaq license can only hire contractors to manage their business.
What documents are needed for registering a retail store in Dubai?
Once you decide to start a retail business in Dubai, you need to determine the documents. Business owners without sufficient documents will never receive approval from DED. This will, however, impact their business functioning too.
Some of the key documents that you need to start a retail business in Dubai include the following:
- Passport copy of shareholders and managers.
- UAE residence visa copy.
- Proof of residence for every owner.
- Lease agreement for the retail shop.
- No objection certificate
The paperwork and documents for starting a retail business in Dubai will vary depending on the type of business you’re starting. If you want a shop on contract, you need to get in touch with the Dubai municipality. However, the other regulatory bodies can also help you easily start a retail business in Dubai mainland.
Setting up a retail store in the Dubai free zone
The Dubai free zone is one of the most strategic locations to start your business. If you start a retail business in the Dubai free zone, you are likely to get a shopping or recreational facility.
The free zones offer a wide range of facilities to business visitors. Therefore, Business Setup in Dubai can be pretty profitable. The rise of business opportunities in free zones is allowing most companies to start from here.
Moreover, there are many investors for the Dubai free zones because of the possibility of international trade. If you want to start a retail business in Dubai, the free zone is a great start. However, you should be careful about the risks involved as well.
How to start a retail store in the Dubai free zone?
It would help if you took your time to research the Dubai free zone so that you can decide accordingly. The key to starting a retail business in the Dubai free zone include the following:
- Choose the free zone where you want to establish your business in Dubai.
- You need to take approval from the Government of Dubai so that you can register the business.
- Apply for the trade license depending on the business you’re starting.
- Register the business with free zone authorities.
- After getting the registration certificate and business license, make sure to pay the fees.
Why choose Business Link UAE?
Business Link UAE is committed to serving the customers. No matter what type of business you are establishing in Dubai, we can quickly help you get the license. All you need to do is share your requirements and handle everything gracefully.
For more info:
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