Dubai has got one of the largest markets when it comes to trading and business. Ranging from technology to clothing, to beauty products, it is a well-suited destination for every type of business. The cosmetic industry is one of the largest profit-making sectors in the world, which has got a massive market in every corner of the world. According to the statistics presented by Euromonitor International, UAE, consumers spends US$239 per capita on cosmetics and personal care products. This gives a clear picture that there is a vast scope for the cosmetic industry, and it’s targeting Dubai as the next beauty capital of the world. If you are a business owner or an investor planning to invest in the business, you can choose the cosmetic industry that holds enormous potential.
This guide will highlight the core reasons that will help you to understand as to why you should proceed ahead in this industry and start a business in Dubai. Let’s deep dive.
1.A Tourist Destination
When it comes to tourism, Dubai stands as one of the preferred destinations. Millions of tourists visit the city every day, which again leverages the business opportunities for the traders settled over there. When it comes to cosmetic business, Dubai is a well-known destination, and tourists do buy products as they find it to be unique that holds an international brand. The region has got flexibility for the traders to trade in any currency, and that’s what it plays a significant role in leveraging the business to a great extent.
Dubai is known as a multi-cultural city that turns out to be home to millions of expats in the world. People who belong to different nationalities are present there, and every individual has got a different taste when it comes to buying cosmetics. So, there exist enormous opportunities for businesses persons to come forward and establish their roots.
3.A Wide Range of Products
Now, when it comes to the cosmetic industry, there exists a vast collection when it comes to diversions of products. You can focus on all segments to target different customers and increase business revenue. Some of the products are stated below:
- Creams, lotions, gels etc.
- Face Masks
- Cleansing and Conditioning Products
- Electrical products like straighteners, curlers, fixers
- Perfumes, Deodorants
- Skin Products etc.
4.Easy Availability of Business License
Now, when it comes to the incorporation process, every business has to obtain a specific license that permits them to carry out the business operations. Now, in Dubai, before you start a cosmetic business, you need to hold certain licenses from the approved Government Authorities. One of such licenses is a commercial license which gets issued by the Department of Economic Development, Regulation HS/001, issued by the Public Health and Safety Department.
Another parameter that provokes the investors to come forward and invest in Dubai is that there exist numerous location options like Mainland, Free Zones and Offshore, which holds specialized features. Before you select the appropriate location for your business, you need to make sure that you have a complete idea regarding each of the location.
6.Access to International Market
Dubai serves to be one of the international gateways that opens up ways to other international markets. Once you have incorporated your business in Dubai, and has boosted up it’s growth accordingly, you can expand your business in the other Emirates, or in the neighbouring countries like Oman, Bahrain and Qatar. Moreover, it leverages the business brand as it gets international recognition and ultimately holds higher goodwill in the market.
7.Low Tax Rate
Now, when it comes to business, the investor or owner gets worried when it comes to dealing with tax proceedings. In the UAE, the government has made flexible rules to attract more investors. The working professionals are exempted of Income-tax payment, and when it comes to business, recently the VAT has been introduced in the UAE, which mandates the entities to pay a VAT @5%. So, the moment you start your cosmetic business in Dubai, you don’t need to worry about tax payments.
Thus, you can see that the above reasons turn out to be the most provoking features that grab the attention of business owners and investors. Starting a business in UAE turns out to be a smart and profitable option, and Dubai is considered to be one of the most significant business hubs. Now, to incorporate a business, you need to keep in mind that it involves legal proceedings, which needs to be abided by accordingly. Business owners at this point work smartly by opting for business consultants who can guide them accordingly in the incorporation process.
Commitbiz Consultants, one of the top business consultants in the UAE, has been continuously providing the incorporation services to the esteemed clients accordingly. Our business experts are well-versed with the incorporation and business proceedings and can guide you accordingly at each step. They do take the initiative to understand your business and provide customized solutions suiting the business needs. If you hold any query or doubt, do contact us today-we’d be glad to assist.