The United Arab Emirates is known for holding multiple records at an international level. The ground stands as an international platform when it comes to the tourism industry, and is highly known to attract millions of global tourists. In the year 2019, the region has made a significant move by attracting more than 16.7 million visitors, which is a massive move. According to the reports published, there has been a significant rise in the increase in overnight visitors in Dubai, which amounted to 5.1%. The tourism sectors have been one of the major players in uplifting the nation’s economy and are targeting to hold more than 23 million visitors by 2025.
Such a massive growth widens the opportunity for business investors who are keen to invest in the tourism business or is looking forward to starting a tourism business in the UAE. This guide focuses on highlighting the growth and business opportunities in the sector. If you are a business investor and looking forward to incorporating or expand your tourism business, then this guide is a must for you.
The Tourism Industry in the UAE
Holding the background of an oil-based economy, the region of UAE has successfully transformed itself as an international tourist spot. For the year 2019, the top six markets that contributed to the tourism business in UAE are:
- Saudi Arabia-756,000
- United Kingdom-586,000
It can be seen that the UAE is a hot-bed for the tourism business at a global level. It is also to be noted that the upcoming Expo 2020 is expected to be a game-changer for the tourism business industry. According to the projections, the event would attract more than 25 million visitors within six months. Thus, proceeding ahead with the business incorporation in Dubai turns out to be a smart move. However, certain steps need to be followed accordingly.
How to Start a Tourism Business in the UAE?
To start a tourism business in Dubai, one has to proceed through the following steps:
- Make sure regarding the services that you are willing to serve
- Select a preferable business structure
- Select a specific location
- Keep the required set of documents ready
- A duly filled application form
- Notarized copy of the certificate of experience
- Copy of business plan
- Identity proof of the business investors/shareholders
- Address proof of the business investors/shareholders
- No objection letter from the Civil Aviation Authority
- Submit the documents mentioned above to Dubai’s Department of Tourism and Commerce Marketing (DTCM)
- Upon approval, collect the relevant business license.
- Pay the required license fee
- Start the business operations
Benefits of Incorporating a Tourism Business in the UAE
1.Massive Ground that Attracts International Tourists
Dubai is one of the highest target destinations when it comes to the tourism industry. Holding a diversified culture, the Emirate stands as one of the top ten tourist destinations of the world. This turns out to be an outstanding opportunity for the business owners to step forward and proceed ahead when it comes to starting a tourism business.
2.Strategic Business Location
Another benefit that drives the business owner to set up a tourism business is the strategic location the Emirate holds. By setting up a tourism business in Dubai, it becomes straightforward for business investors to expand their entity in other parts of the UAE and the neighboring countries.
3.Provides Tax Exemption
The payment of tax is one of the major concerns when it comes to business owners. Now, understanding the fear of business investors, the Emirati government has exempted the tax payment. This turns out to be one of the primary reasons for business owners to proceed ahead and invest in Dubai.
4.Easy Availability of Business License
Obtainment of a business license is one of the mandatory requirements when it comes to starting a business entity in the UAE. Now, when it comes to travel business, a travel agency license is required to be obtained by the business entities, which permits the body to perform the operations legally.
The UAE has got a government that is keen to build a better future for the inhabitants, immigrants and the rest of the world. The Government of Sheikh Mohammed holds visionary leadership that looks into providing the best business establishment services to the business owners. The government has initiated multiple strategies like Dubai Tourism Strategy, Dubai Medical Tourism, to strengthen the region as the ultimate destination when it comes to the tourism industry. These diversions help global business owners to go forward and invest in the nation.
6.Complete Repatriation of Business Capital and Profits
Most of the time, the business investors are worried about the company liquidation process and the taxes that need to be borne by the entity at that point. Well, Dubai sets the business owners free from this concern. The region offers complete repatriation of the capital invested and profits earned during the business cycle.
Why Avail Professional Services?
There are several benefits that a business investor can avail by joining hands with business experts. Some of them are:
- The business incorporation proceedings are carried out at ease
- Time and resources can be utilized in a much productive manner
- Lessens the burden to a great extent
- Market insights into the related industry can be easily known
- The legal procedures get handled easily
- Each of the tasks is carried out in a professional manner
How Can We Help?
With the idea of providing the best and simple incorporation process, Commitbiz Consultants seeks forward to help the business professionals, investors, and owners to start their business in the UAE. Providing customized solutions suiting the business needs is one of our KPI’s that has made as one of the top ten business consultants in the UAE. Our advisors are well-versed with the relevant business setup proceedings and can guide you expertly to carry out the pertinent operations in a hassle-free way. In case you hold any doubt or query, do have a word with our experts. Contact us today-we’d be glad to assist.