Do you wish to set up your own business in the United Arab Emirates? There are plenty of business ideas to consider. With the UAE being home to some of the world’s dream destination cities such as Dubai and Abu Dhabi, Best Business Ideas to Consider In the UAE are endless business opportunities that you can start provided you have enough capital. Whether you are a citizen of the UAE or an expatriate, the country offers an inclusive investor-friendly environment that allows you to start a successful business venture without much fuss.
With so many marketable business ideas, you may find yourself spoilt for choice. This article narrows down the top 12 best business ideas for your consideration within the UAE. They include;
- Tours and travel agency
- Oil trading company
- Real Estate
- Cleaning company
- Restaurants and eateries
- Labour agency
- Gift shops
- Construction company
- Online trading
- Health facilities
Let’s take a deeper look
1.Tours and Travel Agency
The UAE receives scores of tourists every day from all over the world. Most of them simply jet into the country for sight-seeing and vacation. Best Business Ideas to Consider In the UAE a tours and travel agency enables you to take advantage of this traffic to make good money. With this business in Dubai, Abu Dhabi or anywhere else within the country, you are bound to make good money all year round.
2.Oil trading company
Oil is at the backbone of the UAE’s economy, and the product has largely contributed to the growth and development of prominent UAE cities such as Dubai. Trading in locally extracted oil is quite costly due to high taxation and many regulations. The best way to engage in oil trading in the UAE is to operate as an overseas trader. This way, you get to benefit from the UAE’s low taxation rates and easy, affordable company incorporation process.
For this business, you will need to register your company, choose an appropriate name, pick a sponsor and obtain all necessary legal licenses. You also have to obtain a residence visa as an overseas trader.
Dubai and Abu Dhabi are two cities in the UAE that host millions of multi-racial residents. Some live and work in these cities, while some are simply tourists on a vocational visit. The demand for real estate facilities for residency is therefore quite high. Similarly, with the many corporate organizations and companies in these cities, business premises are also in demand.
There are various ways you can make money through real estate investment in the UAE. The first is investing as a real estate developer owning one or several properties. Optionally, you can open a real estate property management agency and offer your services to the property owners.
Another way you can invest in real estate is to engage in real estate flipping, which basically involves buying real estate property, refurbishing it and reselling it for the profit. It is also one good way of making money.
There are various consultancy services you can offer in the UAE, depending on your niche. A very good example is a tax and VAT consultant company to help corporate organizations handle their tax liabilities and litigate penalties.
To open a consultancy service company, you need to be well informed and up to date with trends in your field of specialization. You also need to obtain legal licensing and credentials.
A cleaning company is one of the businesses you can start in Dubai without much capital or effort. You can offer mobile cleaning services for residential, commercial and industrial premises. Best Business Ideas to Consider In the UAE can as well deal with other cleaning services such as car-wash and carpet vacuuming.
6.Restaurants and eateries
Opening a restaurant, eatery or just a simple dine-in at the heart of Dubai or Abu Dhabi gives you access to a wide market of consumers that you can serve in your establishment or through online orders and home deliveries. You can as well offer catering services for the various ceremonial and formal events around the city. Best Business Ideas to Consider In the UAE you play your cards right and stay ahead of competition with strategic positioning and good quality service, any restaurant business idea in the UAE is bound to be booming on a daily basis.
A labor agency can be a good business to start in the UAE. Basically, this entails recruiting several people with specific technical and physical skills, and hiring them out to companies in need of these particular services. It is a profitable business with low risk that you can start easily with moderate capital.
E-commerce solutions are a very marketable venture currently in the UAE. They require less capital to start, and have an impressive success rate. Consider starting an e-commerce solutions company in the UAE if you have the necessary resources and expertise.
With the UAE being an all-year round hotspot for tourists from all over the world, a gift shop is quite an enticing business prospect. Provided you locate your business strategically near prominent tourist attractions, you can bet you’ll have a stable market for your merchandise. Best Business Ideas to Consider In the UAE you offer a dynamic and lively inventory of souvenirs and mementos, and diversify your stock to include foods, beverages, snacks and treats as well as basic personal effects for convenient availability. Remember also to offer competitive prices for your merchandise.
The UAE is continuously growing and developing. With many real estate investors seeking to establish residential, commercial and industrial properties all over the country, owning a construction company automatically puts you in a stable and highly marketable business. With such a business, you stand to come into a windfall of fortune from multiple contracts if you play your cards correctly.
If you have the know-how and the capital, you should definitely try establishing a construction company.
The best thing about online trading is that you tend to evade several costs and taxes that come with physical trading. You have no rental bills, no unnecessary taxes, no strict trade license requirements and you can work from home. Online trading also gives you access to a wider network of potential customers. You can personally supply customers or have an on-staff delivery person, depending on the size and budget of your business. You can trade literally anything online in the UAE provided it is legal, ranging from foodstuffs to office furniture among others.
If you have the necessary qualifications, starting a personal health facility with good quality health services can make you good money in the UAE. With the high population in cities like Dubai and Abu Dhabi, one out of 10 people suffer from certain medical condition that could constantly use your services. Best Business Ideas to Consider In the UAE many tourists flocking the country have a hard time adapting to the climate and weather conditions of the UAE, therefore you are bound to receive constant clients if you offer quality treatment services.
In addition to your health facilities, you can as well open a pharmacy or a drug store chain.
Also read: Successful Businesses to do in Dubai
The UAE is an investor-friendly country with a growth-oriented vision. It is also diversely populated with people from all walks of life, offering a wide market for various business opportunities. A Step By Step Guide on How to Start A Business In Dubai UAE supports investors with low corporate tax rates and a friendly company incorporation process.
You can thus comfortably start a business of your choice and reap handsomely, as long as you have enough capital and qualifications to do so. You also have to make peace with the law by obtaining relevant documents and additional paperwork required. There are endless plausible business ideas to explore in the UAE. You just need to find your niche, position yourself shrewdly and offer the best there is.
Get in touch with Vigor Business Set up Company Formation for more ideas to start your business in Dubai.