The days where Dubai was just a desert are far behind. Now it’s an entrepreneur’s paradise with endless opportunities. In the past few years, businesses have made tremendous growth and significantly profited. Now with the development of Free Zones in Dubai, there has been a growth spurt. This can be credited to the various benefits provided by the Free Zones. These include no tax and one hundred per cent repatriation benefits. Another vital factor is full ownership without requiring a sponsor. Unlike the mainland, which requires a UAE national to hold 51 per cent of shares for any business, the Free Zone has no such requirement, thereby cutting costs on an annual basis.
For those looking to set up a business in Dubai, Free Zones are the perfect choice taking into consideration cost to benefits. Now let's take a look at the various businesses that can be set up in these Free Zones.
The E-Commerce market in Dubai is immense, with every individual shopping online for every commodity, including clothes, shoes, watches, accessories, groceries, etc. The market is set to grow by a staggering 24.6 per cent according to a report by Arabian Business. The Free zone authorities further have independent power to issue licenses, thereby pacing up the process and helping one establish their business faster
In Dubai, job opportunities are on the rise. This is primarily due to the increase in the number of businesses being set up. However, this means increasing job opportunities but all firms cannot filter and choose apt candidates. This is why a recruitment agency in Dubai has immense potential. Tie-ups with big firms can lead to huge revenue by just doing background checks and other verification processes to filter candidates for a job. It is almost a no-risk job with very minimal investment.
Dubai's free zones have world-class infrastructure. Another key point to be kept in mind is that connectivity in the free zones is great. If we look at the Dubai Airport Free Zone, it is right next to the International airport. This proves to be a great boon while importing raw materials and other equipment. This serves as an additional cost cut as exporting materials is far easier to due to easy access to Jebel Ali Port as well as the International Airport.
For any business to become reasonably popular, advertising is the key. Advertising agencies do not have to depend on walk-in customers, nor do they have to be strategically placed. This is why it is ideal for an advertising agency.
The Free Zones in Dubai accommodate a lot of businesses. However, these businesses require logistics services. This includes transportation of raw materials as well as manufacturing equipment to ports and seaports as well from such ports to the manufacturing units.
The catch in a bookkeeping business is that it applies to all businesses. Bookkeeping businesses are already making remarkable returns. This is because the market is too wide for financial businesses, as every business runs on finance. DIFC is one of the best locations when it comes to setting up your financial business in Dubai.
This is another industry which is again in demand. Security services provide various types of services to protect assets, businesses etc. These include warehouse protection, vehicle protection, parking protection, building protection. Every business requires security. This is why a large scale security service can be set up in Dubai to provide to all of the free zones’ enterprises.
Another booming service in the emirate, cleaning services are in demand. A team of cleaners have to be assigned, following which different models can be adopted. This is because different enterprises will require a different method of cleaning, e.g. offices will require simple cleaning, but manufacturing units will require rigorous cleaning. Hence it is advised to have specialised services for different clients.
Consultancy services have immense potential in Dubai. The benefits, by far outweigh the challenges in the field. It is important, however, to have an in-depth knowledge of the field before venturing into it.
Health and Fitness
Fitness has now become a priority for the majority of the world. With numerous corporations in the free zones, a fitness centre can catapult your net worth into a significant amount. Fitness centres all over the world are now in demand.
How much does it cost to open a company in Dubai Freezone?
It depends on the freezone you choose. For Dubai Airport Freezone, you can start a company with AED 1000 as the minimum share capital.
How do I choose the right freezone for my business in UAE?
You can choose specified free zones according to your chosen activity.
What are the benefits of opening a company in freezone?
There are many advantages and some of the few are 100% foreign ownership, full repatriation benefits, tax exemptions etc.
Which is the best business to do in Dubai freezone?
It depends on the activity you choose. Each zone is designated for specific activity so that you can choose accordingly.
Which is the cheapest freezone in Dubai
Dubai Silicon Oasis, JAFZA, Dubai Media City, and sJAFZA are some of the cost-effective free zones in Dubai.