The gaming business is exponentially increasing its fame in the UAE. Investors are looking forward to setting up either an online gaming or a physical gaming business in Dubai. Either way, how do you start an online gaming business in Dubai?
The following are the best tips to put into account when starting an online business in Dubai;
- Plan your gaming business
- Match your business into a legal entity
- Get your gaming business registered for taxes in the UAE
- Create a Financial account for your business
- Obtain a professional gaming license
- Create a website for your online gaming
- Promote your business
If you want to build your gaming business in Dubai, the above steps will guide you on your gaming business setup easily. And so, the gaming industry in Dubai is worth 1.2 billion AED as disclosed by Newsweek. Additionally, the data has it above 80% of UAE residents uses their smartphones to play games.
Averagely, a UAE gamer is deemed to spend $115 yearly compared to Saudi Arabia, which equates to $68 per year. The above figure reveals how lucrative the gaming business in Dubai is as opposed to other cities. Therefore, starting a gaming business in Dubai is something every investor should be looking forward to start.
On top of that, Ubisoft, which is the world’s largest gaming developer and publisher, has developed a gaming studio and academy in Abu Dhabi, especially in one of the free zone called Twofour54. Additionally, Tencent Gyms as Dubai Academic Freezone one of the world-leading online gaming companies decided to set its regional headquarters in Dubai. This has made other gaming developers and publishers crave to launch their business in the UAE.
Thus, it is needless to say Dubai is the best city to start your online gaming business. There are lots of benefits accompanied by setting up your gaming business in Dubai such as more business opportunities and collaboration with other brands.
That being said, how do you set up a gaming business in Dubai? Let’s jump right in;
How to Start an Online Gaming Business in Dubai
Yes, you’ve landed a profitable business idea to start and don’t know where to start, don’t worry, we got you covered. In this article, you’ll learn some of the best tips to consider when starting a gaming business in the UAE.
These steps will help you craft a well and legally approved business in Dubai.
Let’s get started;
Step 1; Plan your gaming business
Planning is crucial for every entrepreneur. Once you’ve failed to plan on your business journey, it will be hard to get things into place when things have turned sour. And so, planning your gaming business will help you come up with essential elements to strengthen your business.
Therefore, planning will help you to discover the following in your gaming business;
- The cost needed for the business
- The target market for your business activities
- The exact amount to charge your clients
- The name of your business
Thus, this first phase of your business setup will give you a road map on which path to follow. For instance, you can’t start a business if you are clueless about how much you need to spend for it to be successful.
Therefore, you need to figure out the cost of computers, employees, printers, computer monitors, and specialized computers that facilitates gaming activities. This might need a vast amount of money. Thus, the cost of starting a gaming business might vary depending on the equipment you’ll invest in your business.
Similarly, planning will ultimately help you to come up with the name of your gaming business. This is commonly known as a trading name. So, choosing the right name for your business plays a big role in the development of your business. There are rules to adhere to when naming a company. For instance, avoid copyright issues, use simple words, and easy-to-remember names.
Once you’re done selecting the name of your business, identifying the target audience and the budget for your business, move to the next tip.
Step 2; Match your business into a legal entity
You’ll be required to form a legal entity of your choice. This might include limited liability company (LLC), sole proprietorship, corporation, and partnership.
Creating a legal entity such as a corporation, or LLC safeguards you from being held accountable, especially when your company is sued. Therefore, if you don’t know anything about a legal entity in Dubai, kindly reach out to Vigor Company to guide you through the whole process.
Step 3; Get your gaming business registered for taxes in the UAE
Before you open your gaming business you can endeavor to register for federal taxes that were imposed in the UAE for all businesses. However, this will solely depend on the type of business structure you did embrace in the United Arabs Emirates.
Step 4; create a financial account for your business
Dubai has several financial accounts you can ever think of to open for your gaming business. When you start a business, it is important to open a bank account to separate your finances and your business money as well.
In addition, mixing your business and personal accounts might render your assets such as your car, home, and other valuable items at risk, especially when your business is sued. Nonetheless, having financial credits might help you get better rates when collaborating with other business partners.
Step 5; obtain a professional gaming license
The UAE authorities cannot permit you to start a business in Dubai without a valid business license. Generally, to get a gaming license in Dubai, you can visit DED, commonly known as the Department of Economic Development in the UAE to obtain your gaming license.
And so, to start a gaming business in Dubai you must have a valid trade license from DED. Similarly, the UAE provides an E-channel system in Dubai where licensing applications can be done online as well.
Therefore, you can get a trade license from a free zone or other places of your choice. Starting a gaming business in a free zone will come with the following benefits;
- Business full ownership
- Tax-free area
- Export and import activities
Step 6; create a website for your online gaming
Most business prefers to have an online presence so that they can interact with people from all walks of the world. Therefore, after you’ve defined and set your business in place, consider setting up a website.
The majority will say they don’t have web skills or design techniques hence, they can’t make a business website, right? There are several website builders such as Godday, WordPress, and more you can use to build your site.
Additionally, you can watch YouTube videos on how to build websites using the above website builder and develop your site perfectly. It is easy and faster.
If you want to go viral, go online.
Step 7; promote your business
Promoting your gaming business is something you must execute to attract more leads and traffic to your business. There are different social media sites you can promote your gaming business such as Pinterest, LinkedIn, Twitter, Facebook, and more.
Nonetheless, if promoting your business seems demanding, you can hire a social media expert to help you with business promotion.
Similarly, for any unclear steps when starting your gaming business in Dubai, always consult Vigor Company Formation and all your issues will be sorted.
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