Meydan Free Zone has been coveted by eCommerce businesses in recent years. With this fact well established, there is truly no better place to start your eCommerce business setup in Dubai than in the Meydan Free Zone – especially after it onboarded Noon.
If you already have an eCommerce business license, you probably know how beneficial it can be. The ease of working from your own space, being able to present a digital catalogue of your offerings, as well as the quick and safe online transaction system, make eCommerce more desirable. Plus, with Dubai’s fixation surrounding all-things retail, an eCommerce business will not do you wrong!
According to the Meydan Free Zone, UAE’s eCommerce market is aiming to reach a whopping $17 billion by 2025, with a steady upward trend in the years post-2025 as well. This is affirmative of the city’s dedication to the growth of the eCommerce industry.
So, if you are looking to establish your eCommerce in the Meydan Free Zone; this is the extensive guide you were looking for!
Why are eCommerce businesses so beneficial in the UAE?
It is no surprise to see eCommerce businesses thriving in the UAE. This is one industry that is rapidly growing by the day in the Middle East and Africa (MENA) region. Owing to the approx. 9.5 million people in the country who are avid internet users – the UAE proudly is home to one of the largest B2C eCommerce markets in the region, and across the globe. But, what incentives are present for those setting up an eCommerce business in UAE?
Quickly developing eCommerce market
The UAE boasts one of the quickest-growing eCommerce markets in the region – surpassing the Kingdom of Saudi Arabia, even while having only one-third of KSA’s population. To have an eCommerce business in Dubai would mean offering your products to a population that is constantly on the lookout for the next-best products.
With the introduction of the Dubai eCommerce Strategy, the city aims to position itself as an international logistics hub within the GCC. This is to be done by increasing the share of the economy to AED 12 billion by 2023.
Government support for businesses
As mentioned in the Doing Business 2020 reports, UAE comes in at number 16 in a ranking of countries that made conducting business easy. In the report, the UAE managed to beat countries such as Germany, Canada, Japan, and China.
The ranking was based on government efforts that were targeted toward making the process of company formation in the UAE easier. Not only has the UAE managed to make itself a relatively tax-free economy, but has also encouraged Free Zones, such as the Meydan Free Zone to flourish and prosper. All in all, allowing for the growth of a business environment will serve to be beneficial to entrepreneurs.
Home to eCommerce hosting platforms
While you may continue selling your products through marketing them on social media and your website, the benefits of selling through eCommerce platforms are incomparable.
The UAE is home to noon.com which is currently the largest platform in the Middle East, while also having a regional presence for Amazon – the global eCommerce giant. It is undeniable that these platforms have much to offer to your business, all while allowing you to reach a greater audience, deal with international customers and maintain an online catalogue of your offerings.
What do you gain by setting up your company in the Meydan Free Zone?
Having been voted as the #1 Digital Free Zone, Meydan FZ is home to many eCommerce businesses. Located close to key areas such as Sheikh Zayed Road and Downtown Dubai, it has quickly become a desirable free zone to house your business in. Some more benefits of the Meydan FZ are:
- 100% foreign ownership
- Exemption from corporate and personal tax
- Complete repatriation with zero restrictions
- 100% repatriation of financial assets
- Quick and efficient bank account setup
Steps to set up an eCommerce business in the Meydan Free Zone
Like any business, you must take some steps before you proceed with your application to obtain a business license. While it may be a relatively simple process to undertake, it’s best to seek professional guidance for the same
Here is how you can get your eCommerce license
Find your niche
Do your research and find out what it is that you want to sell. The desire to offer something unique may take over – it’s natural. However, always remember there is no harm in choosing to sell a product that is high in demand either. Your success will be based on the quality you offer to your customers!
Select a business name
Your name should ideally be a representation of what your business offers. This is because it will become a way for your customers to identify your brand. However, you should not get carried away as the UAE has put parameters in place with regard to business names. Avoiding terms that are offensive/blasphemous is crucial. Ensure you pick something that abides by the guidelines set by the government.
The next step is to set up social media handles and buy a domain name for your website in order to boost the brand’s online presence.
Obtain an e-commerce license
You must secure an eCommerce license to legally run your online store in the UAE. Keep in mind, that you will incur severe fines if you are found to be conducting business without a valid eCommerce license.
You can start operating and expanding your digital empire as soon as you have your Dubai eCommerce license!
Looking for guidance? Work with the best!
Setting up your eCommerce business in the Meydan Free Zone can seem overwhelming. This can be due to having to manage paperwork for business licenses and employee visas. Not having accurate information about the process of company formation in Dubai can also result in this feeling. Working with Business Link ensures the availability of your company formation advisors, who offer end-to-end guidance on all-things business! Our aim is to become your #LinkToSuccess. Because of this, our experts have your back until your business is ready to operate!
Work with the top business setup advisors in UAE! Get in touch today.