Tips To Start a Business With Minimum Capital In UAE
The UAE is surely a dream country for entrepreneurs, and it’s one of those countries in the world that has converted many expects into successful entrepreneurs. Dubai and almost all the other states in the UAE have become one of the top business destinations around the globe. UAE offers an investor-friendly regime to ensure a fertile environment for the development and growth of small and big business setups.
The UAE business market has numerous reasons to attract entrepreneurs around the world; some of the considerable draws are its flexible tax-regime levying 0% tax on both corporate and personal incomes, the UAE attains a perfect location at the heart of the Middle East that makes it a privilege among others to conduct successful global trade.
The UAE has many free zones that possess advantages for new entrepreneurs, such as no currency restrictions, no customer tax, and the capacity to repatriate all profits and capital. Over the top, this country has a very basic and simple business setup or company formation process, providing a complete set of steps that are very easy to follow and guide you about how to start a business in this part of the world.
If you’re still in the initial phase of deciding to start an appropriate business in the UAE, then you may appreciate these ideas, which have brilliant success rates nowadays.
Before starting any business, the first and foremost step is to get an idea regarding the service you can provide with excellence that matches your abilities or to decide on a product that you may consider will approach every customer living in that area. So let’s have a look at these simple and fast-running business ideas.
In the modern UAE market, e-commerce grabs the biggest success rate in UAE and other parts of the world, especially after a big hit of pandemic 2019. E-commerce is considered one of the best ways to reach out to your customers. This particular platform offers many advantages. You can have 100% ownership of your business, restriction-free capital withdrawal, and if you are running an e-commerce business, you can easily have a UAE resident visa. These are a few of many of the other advantages you can attain if you are ready to try your luck in the E-business world in the UAE. This is one BIG sentence in 6 lines! I don’t see any full stop. Such lengthy sentences lose the flow and clarity. Also, it is not very well structured, and the wording is not appealing.
- Free-zone company formation and mainland company formation in Ajman and other parts of the UAE have different jurisdictions for E-Commerce business setups, so choosing a jurisdiction is the most important step before starting an e-commerce business in the UAE.
- One may perceive that for an e-commerce business, one doesn’t have to lease a physical place, but in UAE, you have to show a registered address to attain a business license.
- You may choose three suitable names for your business and pitch them to the Ajman free zone authorities. The chosen names should abide by the naming rules of the UAE. Remember, the UAE authorities have specified names that are allowed and not allowed under many situations.
- You have to submit an application to the concerned authorities requesting them for a business/ trade license.
- Develop a website for your e-business that is free from technical issues, and can serve several customers without crashing, is quick in response, and easy to browse.
- Have a bank account. You can choose any bank account, but if you select a bank in UAE, you can enjoy many advantages as local banks offer many deals and packages to entrepreneurs.
- Cast different but secure payment gateways on your website so that customers can buy your product and services from a fraud-free environment.
- Nowadays, social media works wonders in promoting e-commerce businesses, so launch your setup through different social media accounts.
One has endless possibilities in the e-business world, but some of the ideas are shared for your consideration.
- Digital marketing
- Web development
- Influencer market
- Online tutorials
Overall the UAE organizations, companies, and even households have permanent requirements for house and office maintenance regularly, and they require a person that is experienced and trustworthy. Therefore, if you start a company that provides handyman services at reasonable prices, you may attain optimal growth.
- Beauty Salon
You need very little capital to have your beauty salon, and you can even offer your services online or visit your clients at their residency. That can save you from leasing an exotic spa and enables you to earn a satisfying amount that will lead you to have your spa in mainland UAE.
The UAE has many foreigners living alone who require daily meals at least twice a day at affordable prices. Therefore, the food delivery business has a high probability of success and requires minimal capital to initiate.
Ajman is situated on the Arabian Gulf coast, and it’s the smallest state in the UAE. Ajman is situated on an area of 260 sq. kilometers approximately. The basic businesses in Ajman are real estate, construction, manufacturing, retail, business services, and transport.
To set up a business in Ajman requires detailed planning, and there are many requirements that you have to fulfill before entering the world of business in the UAE. To save yourself from all this fatigue, you can hire a consulting company that will provide services. These services may include finalizing a name for your business, determining appropriate business activities, hiring human resources, choosing an appropriate infrastructure, opening and maintaining a bank account.
Ajman free zone was established in 1988, and despite being the smallest in seven emirates, Ajman possesses one of the most developed free zones of the UAE. Moreover, free zones in Ajman possess great location, providing the capability to serve both eastern and western markets.
All the companies and businesses in Ajman free Zone can access two international airports and four seaports that lead them to flourish in the region. Ajman free zone authority is responsible for all the management and license issues.
There are numerous benefits of having a business in Ajman Free Zone, including no custom duty on any goods or service, 100% ownership to foreigners, low labor cost, no red tape, etc.
The latest and first free zone dedicated solely to the media industry formed the UAE’s emirate of Ajman. Ajman media city free zone offers an affordable and experienced platform for media professionals and companies looking for suitable business conditions for long-term growth.
It formed Ajman Vision 2021 and served as an absolute business center for the entertainment, media, and creative industry.
Steps to set your business in Ajaman Media City free zone
Ajman Media City free zone offers convenient business setup rules, and they are firm but easy to follow steps.
- Selection of appropriate activity for a business
Ajman Media City free zone offers activities like
Publishing: magazines, books, newspapers, and more online articles and content, etc.
Film: promotion, scoring, post-production, and production.
Modern media: digital media, web design, and photography.
Music: management, production, recording, etc
Consultancy: business, HR, investment, finance, and legal consultancy. Consultation results in Ajman Media city will also be great, as it’s the prime market nowadays.
Event management: sports and theatre management, seminars, and conference organizing.
- AMC Free Zone license
AMC free zone offers a range of activities under three basic categories of license.
E-commerce license: This allows the business owner to proceed in all kinds of e-business activities, including online services and online trading.
Service license: Permits transformation, reproduction, distribution of services, and production.
Trading license: gives the authority to import and export items, as well their storing and distribution.
- Package selection:
Select a package according to your business needs. Ajman Media Zone offers many packages that may include business club, bronze package, silver package, silver plus package, and gold package.
You have to fill an application form and submit it to the Media City free zone authorities of Ajman, along with other documents that may include a business plan, passport copy and CV of the manager, passport and CV of owners and shareholders, two passport size pictures with white background if it’s a UAE based company then you also have to submit a NOC letter from the sponsor.
Once you receive the certificate of incorporation, you can start your business.
These are the simple steps for a company set up in Ajman Media free zone.
Your package selection will decide your license cost, but to get a rough idea, it may start from AED 8,500 and increase as the packages go from bronze to gold. Of course, this is not the only cost you have to consider if you want to start a business in Ajman media city’s free zone. Visas and premises cost, and the cost of your organization’s size will also add to the license cost. Still, setting up a business in an Ajman-free zone will be far more affordable than in another zone in the UAE.
If you are trying to set up a business in the UAE with minimal capital, the Ajman Free zone is the best option. It offers a wide choice of business packages with a privilege of a shared office, a hassle-free registration process, no NOC required, no need to be present in UAE physically, license issuance in a matter of a day, 100% ownership for foreigners, and last but not the least 100% repatriation of profits and capitals. In addition, there are many other advantages you will be offered by the government of Ajman and the authorities of Ajman Media Zone.
A freelance visa allows you to work as an individual and permits you to work as a freelance professional. After having a freelance visa, you will be recognized as a sole practitioner. As a result, you can conduct your business without a brand name.