Did You Know Which Business In The UAE Is Rapidly Growing?
I have traveled to many countries in the world. Still, the only country with a sense of acceptance, liberalism, exceptionally innovative, takes pride in their own culture and heritage and is a hub of business is one and only-UAE. Over a very short time, UAE has established its image as a diverse destination, offering high-quality and top-class infrastructure, attraction range, and hospitality.
During the last decades, the growth in business and financial service, tourism, and trade logistics has played a vital role in boosting UAE’S emergence as a global business hub. As for 2021-2022, UAE is expected to see a rise in business investments worldwide and will also increasingly offer multiple business activities and opportunities to people!
Why Is the UAE Called A Global Business Hub?
You must be wondering why the UAE is known as a global business hub? And why do people willingly want to invest in businesses in the UAE? So, there are several reasons for that- which will surely give you a clear answer as to why UAE is considered a global business hub!
Some of the factors which play an important role in making UAE a successful global businesses hub are:
- UAE widely supports local businesses.
- It offers endless opportunities and attractive business investment options for people all around the world.
- There are various top business consultants in the UAE.
- It has a culture of acceptance and liberalism for everyone.
- Attractive advertising schemes and the use of advanced information technology.
The Rapid Growing Businesses In The UAE!
One of the best things UAE is currently doing is relying less on oil and gas production and focusing on the development of other departments. Several things make UAE unique from the rest of the Middle East, but rapidly growing businesses make it stand out! So without any further ado, let’s have a look at the rapidly growing business in UAE and investment options:
● Travel and Tourism
Travel and Tourism have always been successful businesses in the UAE- since UAE is said to be a country of foreigners. Recently, the world has seen a rapid growth of these businesses in UAE, so starting a business in UAE- Travel and Tourism should be one of your main choices. Through proper research and choosing the right location for business, this might be a great step towards a successful business in the UAE.
● Restaurant Business
If you are looking for a place to extend your food chain or opening your restaurant branch globally, then UAE is a good and profitable place to invest in. The increasing rate of tourism is boosting various other fields as well- so it is safe to say that the restaurant business has been rapidly growing in UAE, and investing in this business promises you a high turnover!
According to the predictions in the next five years, the sector of real estate in UAE is expected to grow up to approximately 111% more than the current market. Above all, tourist attraction and increased foreign investments create more scope for the real estate field. So to start a business in the UAE, a Real Estate agency can be a good choice!
One of the fastest-growing businesses in the UAE currently is the construction business. This is because UAE has been making massive investments into improving and building its infrastructure- intending to have the best infrastructure in the entire Middle East. So, therefore, apart from being the rapidly growing business in UAE, construction has opened thousands of doors for the best investors and employers. So if you are considering a business investment in UAE, then considering the construction business could be a good option.
● Healthcare sector
During the last two years of the pandemic, the importance and demand of the healthcare sector have increased rapidly in the UAE. UAE provides hundreds of opportunities in this field, and above all, the developed infrastructure has created a sense of ease for business investors to invest in this sector. So keep the important thing in mind, get the approvals and license, and invest in this sector easily.
According to research, UAE has been the largest contributor of E-Commerce solutions in the Middle East. The good news is with less investment and minimal knowledge about E-Commerce, you can easily step into this field. As a result, you can enjoy a successful E-Commerce solutions business in UAE.
● Consultancy service
During the last 1- 2 years, there has been increasing interest in the consultancy service in UAE. Regardless of any field, having intricate knowledge can benefit you- you can easily start a consultancy service in UAE. Thus, there’s more demand and increasing interest in this field, so this can be a good business option for you in UAE.
● Beauty products and Salon
With time the UAE has witnessed an overwhelming increase in the demand for salons and beauty products. The pros of the beauty field are that bor died or require a high-level degree, neither a large amount for investment. We know that with the need for beauty products and Salon will only rise, starting a beauty products business or opening a salon in UAE has a higher success rate in the future!
The Procedure to Start A Business In The UAE
If you are first-time investing or starting a business in UAE or have no clue how, to begin with, then worry not! We know that starting a business is a very important decision and a lot of things need to be considered, such as planning, budgeting, set up, and decision making.
The following steps will help you out to understand the procedure to start a business in UAE:
- First of all, select your business activity or business type.
- As the UAE is divided into three economic zones- free zone, mainland, and offshore- you must carefully select a jurisdiction.
- Select a legal form/structure for your business- it is a really important step.
- Get the approval of your business’s name and activity from The Department of Economic Development (DED)-the approval is very important before you move ahead.
- Apply for your trade license. They are four types of trade license in UAE- also known as business license:
- Professional license
- Commercial license
- Tourism license
- Industrial license
You can apply for any of the trade/business licenses mentioned above.
- Another mandatory step is to register your company.
- Get the external approvals- that could be governmental and non-governmental agencies.
- Prepare and submit the Memorandum of Association(MoA)
- Now, rent an office or apply for a shared workplace.
- Get the tenant contract and ejari.
- Before getting your trade license, you need to get initial approval from the Department of Economic Development(DED)
- Now finally, you can collect your trade license by submitting some required official documents and government fees.
Looking to start up your own business or invest in a business in the UAE?
If you are willingly looking forward to starting a business in the UAE, knowing and choosing Ajman Media City Free Zone could benefit you!
What is Ajman Media City Free Zone, And Why You Should Trust It?
The Ajman Media City Free Zone is a recently formed free zone in Ajman, UAE. It was founded with the goal of fostering a professional and trustworthy business environment. It offers an ocean of unlimited opportunities and incentives for people who want to start a business in the UAE or looking to make business investments in the UAE- it is not wrong to say that it is a paradise for entrepreneurs!
Facilities provided by AFZ are:
- Provides endless opportunities for entrepreneurs.
- Ensures good profit on their investments.
- It provides better incentives as compared to other Free zones.
- The most noticeable feature is that it provides support until the business has flourished and reaches extreme heights.
Advantages of choosing Ajman Media City Free Zone Maketeb:
- AFZ has low operating costs for businesses and offers a variety of businesses. Therefore, the cost is its most attractive feature for business investors.
- Easy and reliable company setup Ajman Media City is another advantage of choosing Ajman Media City Free Zone.
- This company offers numerous benefits for freelancers, too, and the most prominent one is getting a freelance visa, Ajman.
- It offers an exemption to almost all kinds of taxes.
- It offers several other benefits to the business investors, including- early release of a trading license, allowing multiple shareholders to invest in a business, multiple visa options, and much more.
Without any hassle and hesitation, we want you to register with Ajman Media City Free Zone!