Driven by the demand for IT Services in UAE; start-ups and entrepreneurs are obtaining IT services company licenses to offer specialized IT Services for organizations in UAE.

The growth of IT related business attracts global investors to UAE. Especially with the pandemic, the demand for IT services in organizations has gone up tremendously.

To stay competitive in the digital world, IT services have a vital role to play. IT provides the perfect infrastructure and platforms for the organization to grow digitally.

How to Open an IT Services Company in UAE?

Opening an IT Services company in UAE is a straightforward process. There are ample choices for entrepreneurs in UAE to start an IT-based business.

To keep the business setup cost low, the Free Zones in UAE are the ideal choice. They offer world-class facilities and amenities along with an IT Service license all at an affordable business setup package with visa quotas to hire employees.

An expert Business Consultant will assist you in the process of obtaining an IT service license, and UAE residence visa application submission. They will ensure you have a seamless business setup and continued business operations by getting all the paperwork and clearance approved.

Steps in Setting Up an IT Services Company in UAE?

To establish an IT Services Company in UAE, the first step is to get the trade name approval. A suitable name must be registered for the company with the respective Free Zone authority. Following are the steps involved in setting up an IT Services Company in the UAE.

• Choose the right business activities and the company structure depending on the number of shareholders. Prepare the shareholder agreement and memorandum of association with the respective Free Zone.
• Submit the required documents to the Free Zone authority and pay the required business license fee.
• Choose the right office space for your IT business based on the budget. Get the tenancy contract for the office space from the free zone.
• Proceed to obtain the investor visa and get it stamped on the passport. Now you can legally start business operations from the newly registered IT company.

Top Free Zones in UAE offering IT Services License

The Free Zones in UAE offer exclusive discount offers for investors aiming to establish an IT business in UAE.

There are few Free Zones offering the perfect infrastructure and business support services for entrepreneurs to start their IT Services business in UAE.

1. Dubai Airport Free Zone

Dubai Airport Free Zone is one of the premium choices for every entrepreneur in Dubai. Get the prestigious Dubai Address and set up your company in the top-rated Free Zone in the world.

Situated adjacent to the Dubai International Airport, it is a perfect choice for IT service companies to invite and conduct meetings with clients who are always on the go.

The Free Zone offers attractive business setup packages with a shared office, Flexi Desk, executive office, etc., and business infrastructure that is conducive to IT services business.

2. Dubai Technology Entrepreneur Centre

The Dubai Technology Entrepreneur Centre is a perfect Launchpad for IT services companies, start-ups, freelancers, and entrepreneurs to start any IT-related business ventures.

DTEC offers ample business infrastructure such as a testing laboratory, meeting rooms, conference rooms, cafes, office spaces, business support services, and more.

This free zone has a well-built ecosystem to support IT companies’ growth and expansion of the business communities.

There are a host of business activities under the IT service license in DTEC that investors can venture into at affordable business setup fees.

To know more, read: Start a Company in DTEC

3. Dubai Silicon Oasis IFZA

Dubai Silicon Oasis IFZA is another popular Free Zone for IT Services in Dubai. The Free Zone has dedicated amenities for supporting IT Service companies and entrepreneurs to test the software products.

Also, it provides access to start-up accelerators where entrepreneurs can secure funding for their projects subject to approvals.

There is a robust IT start-up community growing in the IFZA Free Zone. IFZA offers one of the low-cost Business Setup Packages for IT Companies in Dubai.

There are a variety of Office spaces available ranging from shared desks to fully furnished offices, and other facilities to support IT Service businesses to easily grow in the region and beyond.

4. Sharjah Media City

Sharjah Media City is a dynamic Free Zone in the Emirate of Sharjah offering a wide range of business license types for IT Companies.

IT Services are one of the most sought-after business activities among start-ups to meet the growing demand from organizations in the UAE.

Sharjah Media City provides office facilities, conference halls, meeting rooms, shared work areas, etc., for IT start-ups to easily scale up their business at lower business setup fees.

Contact us now to get an IT Services business License in Sharjah Media City Free Zone.

5. Sharjah Publishing City

The Sharjah Publishing City is the newest Free Zone in Sharjah. Located near the Sheikh Mohammed Bin Zayed Road, and near the Sharjah International Airport, the Free Zone is a perfect choice for start-ups and entrepreneurs to easily start an IT company at the lowest setup cost.

The highlight of the Free Zone is the Dual License issued for the investors and getting the investor visa stamped to the passport in the shortest time. Dual License allows Free Zone companies to expand beyond the Free Zones and strengthen their presence in the mainland of UAE.

Hence, for start-ups and investors looking for an easy IT business setup in a hassle-free way and obtaining an investor visa at the earliest; SPC Free Zone is the right choice.

To know more about the procedures of opening an IT Service Company in UAE or a Software Development Company in Dubai, talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

The post IT Company License in UAE – How to Start an IT Services Company in UAE? appeared first on AURION.

In Dubai, the most common and in-demand businesses always are Restaurants, Real estate, and car rentals. It is mainly due to the large ex-pat population here who have relocated for jobs from their home country.

Hence, there are immense opportunities for businesses while catering to the basic requirements of the Expat population in the UAE.

Type of Industry Sectors for Setting Up a Company in UAE

With growing digital adoption and internet penetration in the region, there are certain booming businesses in the digital space like eCommerce, Edu-Tech, Digital Marketing Agencies, etc.

Then there are Essential & Lifestyle Services businesses that receive great traction and demand which are Cleaning Services, Logistics Services, Technical Services, Equipment Leasing, etc.

Setting up an innovative business establishment in such niche areas will help achieve Significant market growth and stability easily as there would be very limited competition among the niche.

Let have a detailed look at each of the niche segments. The list is not exhaustive. There are numerous innovative business ideas and niche segments in Dubai that provide immense business opportunities and have a growing demand requirement from the consumers in the region.

Business Opportunities meeting Basic Consumer Needs

1. Restaurant

The Food and Beverages Segment in UAE is highly fragmented and includes a wide range of offerings starting from roadside stalls to 7-star hotels. So, identifying a niche with significant demand is important to succeed in the restaurant business. Dubai is home to more than 200 nationalities.

Hence, there is a sure shot demand for native cuisines of all these nationalities. Setting up a hotel that serves authentic cuisines of a specific national would make you stand out from the competition.

Things to Know for Setting Up a Restaurant in the UAE

Important aspects to consider here are the following:

1. There are certain Approvals from the Food Safety Department, Dubai Municipality for the floor space

3. Get the required Food Safety Certificates – ISO 20000:2018, HACCP, HALAL, etc.,

4. Choose the location close to a residential, office, or easily accessible tourist location, have ample parking facility, etc.

5. Finalize on the Space required and get the Tenancy Contract

5. Get all the kitchen equipment from trusted partners, with approved quality checks

6. Submit the documents to the Department of Economic Development (DED) to obtain the Restaurant License.

7. Choose the right company structure (LLC Company /Professional License) depending on the number of Shareholders.

Prepare the Shareholding Agreement accordingly and submit to the DED along with other documents and fee for obtaining the restaurant license.

2. Real Estate

The Real Estate sector is always an on-demand business in Dubai due to the growing demand from the ex-pat population and foreign investors.

There are various subcategories in real estate where you can start a company like the real estate agency, real estate brokerage, real estate funding & investment, real estate development, real estate consultancy, and more.

Though the real estate market like all other sectors is witnessing a downturn due to the Pandemic, the overall demand for businesses in this field is never going to lower. Property Management Companies are always in demand for providing property deals and real estate information to consumers intending to find new apartments in UAE.

3. Car Rentals

Car Rentals in Dubai are yet another essential service for foreigners, tourists, and the ex-pat population. Most of the residents in the UAE are short term residents or are here for less than five years.

Car Rentals are the most convenient option for the ex-pat population as they can avoid the risk of owning a depreciating asset and the allied costs of registration, renewals, and insurance.

The Car Rental business is lucrative in the UAE. However, there is a relatively significant investment (when considering the cost of the fleet – mostly leased). There is a requirement of having a physical office (150 Sq.m) with a parking facility for cars.

Having an Online Platform to facilitate booking, a GPS tracking facility for car tracking, a service agreement with maintenance shops for repairs, insurance coverage, etc., are overheads to be considered. There is an approval (No Objection Certificate) from RTA required for setting up a car rental service in Dubai.

Business Opportunities in the Digital Sector in Dubai

With the growing digital adoption by consumers in UAE, there are numerous online-based businesses available now in the region. Ecommerce based businesses are the most common one seen in UAE that is on a rise in recent years.

Followed by eCommerce, is the Education Technology-based businesses that develop intelligent applications, video tutorials, online classes, etc., focused on children, college students, and professional training students.

Another most popular business category is the Digital Advertising and Marketing Agency that has grown over years in Dubai. These are relatively low-cost business setup where professionals in the field of Digital Marketing join together to start a company.

The major cost overhead here would be the skilled employee salary, technology platform investment, and digital resource availability for the employees.

Business Opportunities in the Essentials Services

The essential and lifestyle category in UAE is another high demand sector where there is a lot of business opportunities for new entrepreneurs. Under the essential services is the most popular one is the cleaning services and followed by logistics support services.

There is a huge demand from the residential and commercial establishments in the UAE for Cleaning Services. With most of the households run by working people, the availability of cleaning services is on a rise always.

Similarly, the organizations in the UAE require a Cleaning Service Management Company to handle the facility cleaning and maintenance periodically to keep the surrounding apt for business ambiance.

On the logistics Front, courier companies, document clearing services, document handling companies, consumer courier drop-offs services, etc., are in much demand always in the UAE. 

Also, for general trading companies in UAE having assistance for International Trade, providing financial support, a Letter of Credit, equipment leasing, etc., is a must-wanted service.

Hence, in a nutshell, there are a lot of niche business opportunities in UAE that entrepreneurs can tap into by setting up a Free Zone or Mainland Company in the UAE.

To know more about Business Opportunities in UAE, talk to our expert team right away!

Read more about “5 Strategic Industry Sectors Ideal for Foreign Direct Investment in the UAE“.

The post Industry Sectors in Dubai for Establishing Successful Businesses appeared first on AURION.

Cleaning Services License in UAE is gaining popularity as there is a growing demand for the service from newly constructions and existing large organizations. Also, the modern homes of the working class are also looking for professional cleaning companies for home cleaning requirements.

Cleaning Services Company in UAE – Demand from Residential and Commercial Consumers

Real Estate Analysts in the UAE estimate that almost 50000 new residential units are to be added to the property market in the year 2020. This will further raise the demands for cleaning services companies as there would be growing requirements for maintaining and carry out regular cleaning activities in these apartments.

On the corporate side, the demand is driven by large numbers of hotel apartments, hotels, office spaces, manufacturing facilities, hospitals, and many more. The Scope of Cleaning services Companies are extensive; It can be classified into specific services depending on the exact customer requirements.

Main Categories of Cleaning Services in UAE:

• Residential Apartments (Flats, Town Houses, Villas)
• Commercial Cleaning (Offices/Manufacturing/Hospitals)
• Industrial Cleaning (Equipment/Machinery)

Sub-Categories in Cleaning Services

Cleaning Services Companies can be categorized based on their exact business activity. Following are a few Sub-categories where Cleaning Services Companies facilitate their operations.

1. Streets Cleaning Services

There are special contracts for cleaning streets, footpaths, and markets by manual or mechanical tools. Dubai Municipality regulates the activity and the business license is subject to the approval of the Dubai Municipality.

2. Sea & Shore Cleaning Services – This activity enables companies to collect and dispose of marine waste and pollutants.

3. Building Cleaning Services – Residential, Government, and Professional premises

For example, Cleaning and maintaining huge office blocks such as the Dubai Airport Free Zone. It requires an administration team to handle the operations such as washing each floor, external glass cleaning, restroom & laundry cleaning, and more.

4. Advertising Signboards Cleaning – Cleaning of the large signboards fixed on streets and road cleaning.

5. Runways & Roads Cleaning Services – Manual and mechanical cleaning of runways and roads.

6. Yacht Cleaning Services – Yacht interior and exterior cleaning, polishing, restoration, brightening, interior cleaning, vinyl treatment, etc.

7. Car Cleaning License – Car Cleaning Service activity includes car wash using automatic or manual washing station activities.

How to Start a Residential Cleaning Services Company in Dubai?

To start a Residential Cleaning Services Company in Dubai, the business must register with the Department of Economic Development (DED) to obtain the required cleaning services license.

Based on the Shareholding pattern, the investor can decide on the company structure and license types. For Mainland Companies in UAE, there are two Business License categories that are right fit for the Cleaning Services Companies:

1. Professional License, or,

2. Commercial License

Alternatively, Cleaning Services License in UAE can be easily obtained from the Free Trade Zone also. However, for Cleaning companies aiming to employee a number of ground level staffs, take a warehouse, etc., mainland of UAE will be the right choice to keep the overall cost low and easily expand the market reach.

Professional License in Dubai – Things to Know

• 100% Ownership of your business
• Register as Sole Proprietorship or a Civil Company
• Appoint a UAE national as a Local Service Agent (LSA)

Commercial License in Dubai – Things to Know

• Must appoint a UAE national or Local Sponsor
• Local sponsors will own 51% of company shares and the rest 49% by the foreign investor
• The company will be registered as a Limited Liability Company

Documents Required for Setting Up a Cleaning Services Company in UAE

• Completed business application form for the Cleaning Services company setup
• Trade name for approval- 3 names
• Passport copies of shareholders
• Entry Stamp/Visa page/residence visa of the investor
• NOC from the current sponsor if the shareholder has a residence visa
• Any additional approval required if any

Step by Step Procedures: How to register a Cleaning Services Company in UAE

The Process of Registering the Cleaning Services Company with the Department of Economic Development (DED) is as follows:

• Choose the required business activity from the activity list
• Select the company structure (Sole Proprietor/ Civil Company/LLC Company)
• Get the tradename approval
• Get initial approval from the DED, Dubai.
• Prepare and sign the LSA Agreement (for Professional License) or the Memorandum of Association (MOA) for Commercial License
• Rent a physical office and submit the Tenancy Contract & Ejari. A mainland company must have a physical office as a mandatory requirement for obtaining a business license.
• Submit any additional approval if any
• Pay the fee and get the Business License

Things to Look for Before Setting Up a Cleaning Services Company in UAE

Cleaning Services Company Setup in Dubai is relatively easy but there are various costs and process to be in place to continue in business such as the following:

• Competition from other similar players
• Workforce requirements and logistics support
• Equipment and supplies
• Expertise in the Sub-Categories to expand business services

1. Highly Fragmented Market and Intense Competiton

The investor must be well aware of the market scenario in the UAE. The cleaning Services sector is a highly fragmented industry with a lot of small and large players intensifying the competition.

2. Large Office Space and Warehouse Facility Requirements for Cleaning Services Company

Cleaning companies would require heavy equipment, machinery, disinfectants, and related cleaning essentials in large volumes to cater to their clientele accordingly.

Hence, Investors have to account for huge upfront expenses and set up a support system to effectively procure, manage, and consume, the required essentials. It must achieve consistent profitability to continue business operations.

3. Heavy Investment and Operational Cost of Cleaning Service Company

The Cleaning Services business requires a lot of investment in logistics, essentials, labor, warehouse facility, office space, etc.

The operational costs are to be on a higher side always, investors must have a solid business plan to sustain the operations.

Why Choose Dubai Mainland for Setting Up Cleaning Services Company?

For Cleaning Services Company mainland company formation is the ideal choice than a Free Zone due to the requirement of region-wise operational flexibility and setting up branch offices anywhere in UAE.

1. Flexibility to Employee More Staff

Also, Cleaning Services is a heavy labor-intensive sector that requires employing a huge number of contract staff, in-house staff, part-time workers, etc.

So, for obtaining work-permits, applying for employee visas, gaining more visa quotas, a mainland company would be the right fit.

2. Easily Scale-up the Business Operations

There would be a requirement of having large office spaces or a warehouse to store the cleaning essentials and other required support systems. Again, locating an ideal warehouse would be more cost-effective in the mainland of Dubai.

3. Identify your Niche Area in Cleaning Services Sector

The scope of a Cleaning Services Company varies depending on the list of business activities that will be included in the business license while setting up the business.  

There is an all-time demand for various types of Cleaning Services in Dubai due to the ever-growing infrastructure and real estate investments in the region. So, investors can choose their niche area of cleaning services and set up their cleaning services company to scale up easily.

To know more about the procedures to open a Cleaning Services Company in the UAE, Connect with our expert Business Consultants right away!

Read more >> “How to Start a Manpower Supply Company in the UAE?“.

The post How to Start a Cleaning Services Company in UAE? – All Things to Know appeared first on AURION.

Also, there is immense growth potential in the country and the business landscape of UAE is quite promising with many businesses waiting to venture into several high-value projects.

The technological advancements are driving huge business growth in the region. Additionally, they open up new opportunities for many businesses in the feild of healthcare, aviation, shipping, tourism, and more.

So, here are few of the upcoming Industry Sectors in UAE for Foreign Direct Investment. These are industries are expected to be the future of UAE and drive growth.

1. Healthcare sector in UAE

The Healthcare sector in Dubai is going through a technology transformation with a key focus on research and development.

The healthcare and Pharma sectors in UAE have displayed a remarkable level of readiness in facing the Covid-19. The efficient way of tackling the patients at the hospital as well as the drive-in test centers helped UAE to contain the pandemic.

Growing Confidence in the UAE Healthcare Sector

Along with the efforts from the front line staff at health centers and the National Disaster & Recovery Unit, the national sterilization drive helped a long way in combating the virus in the UAE.

Also, the medical research facilities and healthcare infrastructure in the UAE are all set for tackling the virus. Furthermore, UAE has the support systems like ICU units, makeshift hospitals, ventilators, PPEs, and testing kits in place to keep things under control.

Investments in Healthcare and Pharma sector

In the UAE, government investments in healthcare accounted for around USD 15 billion in 2018. The private sector healthcare spending is set to grow at a CAGR of 9.5% from 2018 to 2022.

Similarly, Foreign Direct investments into healthcare, pharma, and medical equipment sectors over the past five years are seeing an enormous spike. Also, the FDI in this sector is having a valuation of about AED 3.82 Billion (2015-2020). So, the FDI investment, more healthcare services, medical equipment trading and manufacturing units will be set up in UAE.

So, Medical Research facilities and healthcare centers are given high priority by the UAE government. Also, it will help in elevating the medical standards of the region and convert UAE into a popular medical tourism destination in the Middle East.

2. Aviation Sector in the UAE

The Airports of UAE, especially Dubai Airport have become the prime infrastructure to power economic growth in the region. UAE is investing significantly in the aviation sector, with the state-owned Emirates Airlines and the airport infrastructure on the key focus.

Dubai is a strategic location and the airports and seaports facilitate trade and transfer of people between the east and west as well as the north and the south.

Airports Expansion, Technology Adoption, and Promoting Trade

The Airport expansions and equipping them with the newest technologies is a continuous and essential process. Additionally, to maintain a competitive advantage as a leading global aviation hub, UAE is investing heavily in the aviation sector.

So, efforts are focused on building the infrastructure for providing sufficient air space capacity to meet travel and Airline parking demand.

Airport Free Zones in the UAE Facilitating Trade and Supporting Economy

Additionally, investments are channelized for implementing essential technological advancements to facilitate smooth passenger and goods movement through the airports

With the opening of the new airport near Dubai South, the Al Maktoum International Airport. It has added additional capacity to handle the growing passenger traffic and space for halting aircraft. These free zones are also ideal for taking an Air Cargo Business License in UAE.

Aviation has been the heart of UAE’s economic transformation, the airport free zones are set up to promote business opportunities and seamless trade and business set up to support economic growth

3. Shipping Sector in UAE

Dubai is investing heavily in the shipping sector, with the Dubai Maritime City Authority and the Jebel Ali Port driving a significant volume of trade operations and managing international shipping lines.

The value of UAE’s investments in the ports and marine industries sector exceeded USD 66 billion between 2014 and 2017. The amount of cargo handled by UAE ports is increasing on a year-on-year basis and was worth USD 3.2 billion as of 2017.

Shipping is a Major Support System for Trade and Export Business in UAE

UAE plays an active role in bringing in significant foreign investment to the region and the shipping sector is one of the major lifelines to support the UAE economy. Dubai is in constant effort to connect aviation, shipping, and road transport to create a transport link that will help in seamlessly transporting goods across the UAE and overseas.

The free zones and mainland trading companies, warehouses, distributors, other logistic and freight forwarding and shipping companies are the ecosystems that make up the overall shipping and logistics network in UAE

4. Tourism Sector in UAE

As part of Dubai’s efforts to boost tourism and investment in the region, Dubai is setting up 50 regional offices across the world. An AED 1 billion fund and plans for subsidized housing for entrepreneurs are to be launched to target new areas of opportunity and move ahead with the non-oil dependent sectors.

Low-Cost Tourism Infrastructure and Entrepreneur Support

Also, build a future economy focused on low-cost tourism infrastructure. UAE is planning for building an economic research center, incubators, and accelerators and space for entrepreneurs in the tourism sector to grow their business.

Covid-19 has hit hard the tourism industry; however, it can be seen as a short-term slow down. Once the international borders are open and airlines start flying, the tourism sector will bounce back. Dubai has some of the world’s best hotels and travel destinations in the world.

Many tourism infrastructure projects are scheduled in the coming years. It includes the completion of hotels, hotel apartments, amusement parks, etc. Dubai is aiming to welcome the tourists in full-fledge once the pandemic situation eases and travel restrictions will be lifted.

5. Real Estate Sector in UAE

Real Estate sector is the face of Dubai. The property rental yields in Dubai are higher than the other popular financial markets such as New York, London, Singapore, and Hong Kong.

With a multitude of real estate projects completed such as the iconic Burj Khalifa, Dubai Mall, Dubai International Airport, Palm Jeremiah, and more, the city is in a continuous development phase. With the Government-funded infrastructure projects in line and more real estate project investments sanctioned, real estate investment in Dubai is one of the major support systems for the UAE economy.

The stable political situation in UAE, world-class lifestyle, business opportunities, tourism, and shopping areas make it a perfect choice for ex-pats to settle. Dubai has one of the world’s best luxury residential properties. Recently Dubai is also building districts that are focusing on affordable living too with attractive financing options.

The absence of a property tax makes it a lucrative choice when compared to other global destinations.

Most Attractive Real Estate Investment Options in UAE

• Purchasing a residential property in Dubai
• Purchasing a commercial property in a freehold mainland area and renting it out
• Buying commercial and hospitality facilities and taking the franchise for operating hotels and resorts
• Starting a real estate investment firm in the mainland or the free zones

Hence, in a nutshell, Dubai is an investment hotbed with a huge business opportunity across the core industry sectors as well as other niche sectors. Depending on your business expertise, and domain knowledge it is very easy to secure a business license and channel your investments in Dubai as per your interest.

To know more about the business opportunities, and resident visa via property investment, talk to our expert business consultants right away!

The post 5 Strategic Industry Sectors Ideal for Foreign Direct Investment in the UAE appeared first on AURION.

Businesses are Trying for a Comeback

Most of the sectors such as Airlines, Tourism, hospitality, etc., were completely shut and are opening up partially to serve the public in need. With work-from-home, social distancing, disinfection drives, complete lockdown. UAE is constantly trying out all means to curb the virus spread.

Businesses on a global scale have their cash flow affected due to the suspended operations. However, businesses are trying to make a comeback with innovative measures to sustain and sail through the downtime.

Stimulus Packages Launched by the UAE Government

Businesses are welcoming the Stimulus packages offered by the UAE Government. It is aimed at SMEs in the region to sustain and get through the downtime. UAE Ministry is cutting the fees of most of its business support services to:

• Support and promote business activities
• Reduce the cost of running the business

SMEs and entrepreneurs are looking at new ways of doing business and finding our new supply-chain opportunities.

Preparedness Plan by Businesses

Businesses have mapped out a preparedness Plan. To sustain their business operations and sail through the tough times, businesses have initiated the following:

• Work from home for employee safety and continuing business operations
• Technology Transformation and Digital Adoption
• Conducting Virtual Meetings
• Creating a platform for online shopping, eCommerce, & online transactions, etc.

Stimulus Packages from UAE Government Entities

1. Central Bank of the UAE (CBUAE)

The CBUAE launched an AED 100 billion incentive as part of the comprehensive Economic Support Scheme. It is for retail and corporate customers affected by COVID-19.

The stimulus package from the Central Bank will be channelized as an AED 50 billion zero-cost loans for all banks operating in the UAE. Also an AED 50 billion for freeing up the bank’s capital buffer. The scheme is to provide temporary relief from payments of principal and interest on all outstanding loans. It is for all affected private sector companies and retail clients for a period of up to 6 months.

2. Dubai Economic Stimulus Package

Dubai Government has launched an AED 1.5 billion economic stimulus package for the next three months. It is also aimed to support the companies and business sectors in Dubai. The economic stimulus package is focused on key industry sectors that are affected such as commercial trading, retail, tourism, energy, etc.

Along with the Stimulus Package, the Government of Dubai has introduced a couple of initiatives such as:

• Temporary freezing of market fees
• Reduction in customs fees on imported products sold in Dubai only,
• Cancellation of bank guarantee for customs clearance.

3. Abu Dhabi Economic Stimulus Package

Abu Dhabi Government has also launched a dynamic economic stimulus package to support and sustain the business ecosystem intact in the region.

Water and Electricity subsidies for individuals and commercial & industrial sectors, exemptions of commercial and individuals from a variety of activities and fees.

4. Additional AED 16 Billion Stimulus Package

The UAE Cabinet also approved an AED 16 billion package to support the national economy and support business sustainability.

UAE is making all efforts to reduce the business setup cost and employee management cost to all-time low rates.

5. Dubai Free Zones Economic Stimulus Package

The Dubai Free Zone Council has announced a set of initiatives in the form of the following:

• Deferring of rent payments for 6 months
• Facilitating installments for payments
• Refund of security deposits and guarantees
• Canceling fines for companies and individuals
• Permitting temporary contracts for free movement of staff between companies operating in the free zones
• Relief Packages for Bank Customers & SMEs

6. Economic Relief Initiatives from the UAE Banks

Banks in Dubai have also offered relief packages for businesses and individuals. Initiatives such as the following are being approved by the major banks in the UAE

• Lowering of credit card cash advance charges
• Zero percent easy payment plans on school fee
• Deferring of 3-month installment without fees for finically impacted individuals
• Many more cash-saving schemes and the elimination of additional charges

Business Readiness to Achieve Long-Term Sustainability

Businesses in the UAE must have a preparedness plan to tackle the hurdles ahead. A clear contingency plan including all main aspects is a pre-requisite for the business to scale up and be back on track.

All core functions of the business must be re-structured to re-start the business processes effectively. Businesses must be growing lean and all redundant workflows and processes must be eliminated. The core business process must be on the focus and exploring innovative ways.

Enhanced Product Quality and exceptional Customer Experience are Must-Haves

Delivering services or products with minimal cost, enhanced quality, and improved customer experience will be the key to win in today’s dynamic world. Business operations, employee engagement, supply chain, finance, etc., must be closely monitored and analyzed.

It will help in lowering operational costs, reduce overheads, and enhance productivity. Achieving long-term sustainability is crucial for businesses today and to get there a clear business continuity strategy must be in place for all the businesses.

To know more about the Company Formation in UAE, talk to our expert team right away!

Read more about “How Businesses are Transforming into ‘New Normal’ in Dubai?“.

The post How Businesses in the UAE are Scaling Up After the Lockdown? appeared first on AURION.