With the internet taking over the world and making life a lot easier, people are now understanding and truly taking the advantage of e-commerce and what it has to offer. The growing e-commerce has made business setup in Dubai more prone to using the internet in the selling of every item possible. Online shopping is slowly reducing the traditional shopping culture.
With the UAE, people from different parts of the world are setting up their online stores. Therefore, if you are planning on opening an online business, there are steps that one needs to go through. Here are the steps that involve while trying to settle and open your own e-commerce site.
Choosing The Company That Suits You And The Potential
There are several options as to how one would want to open their e-commerce site. It could be an extension of a foreign parent company, it could be a representative company, a limited liability company. Depending on what the future plans of extension and growth are for the company, one could go for any type keeping in mind the potential. The most common types one would find is the subsidiary and a limited company.
Choosing Registration Place For Your Company
You would come across almost 20 free trade zone in Dubai and there are some in other parts of the Emirates as well. Whether trying to open a physical or an e-commerce site, it is important to get a license. There are two options that one would come across in Dubai- one would be registering a company in the known free zone and the other would be registering your company outside the free zone.
Opting for registration in the free zone is a great plan as well which helps you to expand in the region later and there would be no limit to the export and the import of the various goods at any time. And you will not have to pay any kind of fee as well. In free zones, one could trade outside and the costs are lower. When choosing a location, it is important that one consider all the factors that would help with the growth of your business.
Next Step Would Be Company Name Registration
Choosing a name that would fit your online store is very crucial as it would reflect the personality of your store and therefore should be a memorable one. The name would be inspected to make sure no one else has used it before. It is important to give alternative names in case the first one is not chosen and has already been taken up.
Looking Out For A Physical Office For Your Company
Although for any kind of online shop, having a physical premise is not always compulsory in many places, there should be a legal address. As Dubai authority are obliged to know about the legal address and want companies to have one. Online business setup in Dubai is quite easy with just a few steps one could easily open their company.
License Approval For The Inception Of Your Company
After the above steps have been completed, it could take up to 7 days for the completion of the licensing. It also depends on the registration authority and how long it might take to get your license.
Opening A Local Bank Account For The Company
All kind of companies no matter what one is dealing in and in which sector, every company requires a bank account. Local banks are there to offer exceptional facilities and not just for local companies but offshore companies as well.
Setting up a business is not a piece of cake especially if it is a foreign land. You require the right opportunity and more than that the right place as well. Every year thousands of big organizations and entrepreneurs look out for Freezone business setup in UAE as not just the potential the place has but the many advantages one enjoys too.
UAE is home to almost 37 free zones where you could set up your business following all the international regulations. UAE has always been a popular choice offering not just a strategic location but also low tax. It is the largest and also the fastest emerging market which supports all kinds of businesses. Here are some reasons that contribute to the effects of free zones on business in Dubai alongside the whole of the UAE economy.
Dubai attracts a lot of skilled professionals in the country because of the higher income alongside the reputation. There is a job for everyone in different kinds of sector depending on qualification and requirement. This helps in improving efficiency and also competency. Dubai is an ideal place for growth for any sector with so many markets to connect to. Dubai is often considered at the top when it comes to setting up a business- whether a small, medium or a big organization.
Therefore, these are some of the most common steps that one would come across when it comes to opening an online company in Dubai but in a smooth and hassle-free way.