Dubai is a metropolitan city in the UAE offering world-class infrastructure for business and for expatriates to settle in the country. Small Business Ideas in Dubai are prospective for investors to gain high returns at lower expenses.

It is important to note that for conducting any business activity in UAE, one must have a valid trade license to continue the business operations.

Best Business to Start in Dubai

Following small businesses are the best to start in Dubai. They are ideal for an easy start as well as can also scale-up successfully in the long run. For a first-time investor in UAE, it is advisable to take the assistance of an experienced Business Consultant to carry out the company formation process.

1. Restaurant & Cafeteria

The Food & Beverages sectors is always an in-demand sector in Dubai. It is one of the best business to start in Dubai. There is a requirement of a significant initial investment in the hotel business for the kitchen, seating area, ambiance, Delivery, staff, etc.

However, there are ready-made kitchens, stall units, and customized installations that will save some overheads. Also cloud-kitchen where there is no storefront. The orders will be taken via phone or mobile app and processed remotely.

The hotel business in Dubai has huge business opportunities due to the rising number of ex-pat population and their dining choices. Food business is a prospective small business to start in Dubai. The investors can start small, keep cost low and get high returns.

2. Events Management

With a large number of corporates and small and medium companies, and a multi-national community, there is an active demand for event management companies.  Event Management business is the best business to start with minimum investment amount.

It can be started with minimal investment and get contracts easily through word-of-mouth marketing, Event companies host and conduct corporate and personal events on various occasions like weddings, birthdays, media events, product launches, and more.

Event management companies can take professional licenses or set up a limited liability company with 2 or more shareholders to set up more branches and expand across UAE easily.

3. Construction

The construction sector in UAE is an ever-growing sector. It gives huge returns for investors in the UAE. Construction is a high investment area. However, project management and engineering consultancy can be setup at relatively lower expenses compared to large construction projects.

There is an immense requirement for building materials, construction equipment, mechanical and electrical works, and more for the ongoing projects in the UAE. Construction is one the best business to start in Dubai. It fetches investors an accelerated business growth when scaled-up in the long run.

4. Health and Well Being

Health and Well Being is of utmost importance for UAE residents. Many of them are health conscious and are actively in seek of wellness programs and lifestyle classes for Yoga, Dancing, Gym, etc.

The Free Zones as well as the Dubai Economy is offering professional licenses for personal trainers, gym instructors, fitness experts, coaches, etc., to start their establishments in UAE.

Hence, starting a Health and Wellness Clinic in Dubai is one of the best business choice as there is a growing demand in the region. It will help the investors to easily scale up the business venture by opening new facility to continue the business.

5. Transport

Transportation is a major business opportunity in the UAE. Though the public transport is well connected to all places in the UAE, for office commute often a vehicle is must-have for quickly reaching the workplace.

To add on to business opportunities in transport, there are chauffeur-driven services to airports, hotels, leisure, etc., that are to be fulfilled by car rentals and transport companies. Hence, there is an evergrowing demand for Transport Services Company in Dubai.

It is one of the best business in Dubai to start and then expand to other emirates by opening branches. Passenger Transport services are in all-time demand in UAE as many depend on a private passenger transport provider to commute to office.

6. Logistics

The logistics business is lucrative in Dubai. Due to the strategic location and extensive network of road, air, water transport the transit of goods in and out of UAE to other global markets is made easy.

Corporates in UAE are on a constant lookout for a trusted partner for logistics support and handle the goods transport. It is one of the best business to start in Dubai as the business ecosystem is well developed and there is a constant demand for logistics in the country.

Investors in the logistics business can apply for an export-import, trading, and eCommerce license to expand their logistics network and business operations to gain significant business results.

7. Real Estate

Dubai has got some of the world’s best properties to stay. Also, the commercial properties are of world-class standards with customized offices, warehouses, and light manufacturing units.

With the offering of long-term visas, 100% foreign ownership in Free Zone companies, tax-free status, the real estate sector in Dubai is receiving a constant supply.

The real estate sector in the UAE mostly consists of Developers, property management, and rental agents. Setting up a business activity in the real estate sector in UAE is a lucrative business opportunity.

8. Digital Marketing & Website Development

Marketing is an important aspect for companies in the UAE. There are immense marketing opportunities for organizations in the UAE to showcase their brands.

Digital marketing and website development services are much needed for the growing list of companies added to the UAE’s business ecosystem.

9. Cleaning Services

With the growing number of commercial and private residential units, the demand for cleaning services is on the rise. Cleaning Services Company in Dubai, UAE can be easily started with limited capital and staff.

It is a business that has scope to scale seamlessly depending on the new contracts obtained from large companies in UAE.

There are various specific requirements to be fulfilled in the cleaning services sector. From glass cleaning to interior cleaning and polishing services, there is immense opportunity to tap into.

10. Car Wash Services 

Car Washing Services are having a steady demand in UAE due to the sand and desert climate prevalent in the region. For maintaining the vehicles clean every one depends on Car Washing Services.

So there is an increasing demand for Car Wash License in UAE. Most of the Car Wash Centers are available in the Industrial Areas and Workshop Premises. 

However, there is a new trend of Mobile Car Wash Services that are operated by Mobile App or Online service requests. So, to obtain a Car Wash License, there are certain procedure to follow and approvals to obtain. Our team will guide you in obtaining a Car Wash License from UAE without any hassle. 

11. Day-Care Services

Child care services are much needed for the working ex-pats in Dubai to safely look after the children while they are away for work.

It requires quite a lot of networking and gains the customer trust in the beginning and as you scale up it will give u good returns.

It makes an attractive business proposition for freelancing as well as for women looking at a second income through a business venture near their home.

12. Blockchain, Metaverse & Cryptocurrency

Dubai is always first in technology adoption. It is best to start a business in the field of Blockchain, Metaverse, and Crypto Currency. Dubai is seen to be actively exploring modern technology business applications.

There numerous business applications in the field of Blockchain, Metaverse, and Cryptocurrency that investors can explore in Dubai. The Free Trade Zones of Dubai such as the DMCC offer a Crypto License for investors to venture into the latest Crypto, blockchain, and Metaverse applications.

To know more about opening a company in the UAE, talk to our expert company formation consultants right away!

Contact: Aurion Business Consultants

The post What Business is Best to Start in Dubai? appeared first on AURION.

The investors can easily coordinate the Company Liquidation Process in Dubai with the help of an expert Business Consultant. The following are the common causes of Company Liquidation in Dubai:

• Generating Low Revenues, or,
• Not-Performing to the mark to sustain the business competition, or
• Not able to scale up
• No Cash Flow to pay Suppliers and Loan Balances
• No Business Feasibility, and more.

Company Liquidation in Dubai

Company Liquidation in Dubai consists of certain steps that the investor must follow. Assessment of the company’s financial position is a pre-requisite before starting the process of company liquidation.

Also, the investor at this stage must review the company’s current liabilities and work out a disbursement plan. The company’s finance team must record all outstanding payments, claims, assets, etc.

The Business Consultants will manage the company liquidation process. They will assist in preparing financial documents, maintaining accounts, conducting financial audits, and preparing the debt recovery plan.

The investor must intimate all the creditors & debtors about outstanding bills and prepare the company liquidation plan accordingly.

As the final step, the company must terminate all employment contracts, business transactions, Bank accounts, utilities, and essentials. Also, the clearances from the Free Zone or Economic Department authorities must be ready.

At the same time, inform all the stakeholders, creditors & suppliers, customers, etc., about the closing of the company and settlement amount disbursement. After the settlement, file for the company license cancellation certificate.

Dubai Company Liquidation Steps

During the instance of incurring heavy financial losses, the investor is left with no option but to wind up the company. So, the investor will have to cancel the trade license first and then wind up the business operations.

Company Liquidation or Trade License Cancellation is an important process for any UAE-based business. Without winding up the business operations of a loss-making company, the investor will have to pay for the yearly renewals even if the company is at a loss.

Also, pay the fines for defaults, salary delays, bank charges for overdrafts, and more. Hence, it is advisable to close a loss-making company than to keep it running in most instances.

Company Liquidation in Dubai involves a set of processes. All the steps have to be executed with the utmost importance as they will hinder any future restart of the company in the UAE.

1. License Cancellation of Limited Liability Company in Dubai

Let us look at the steps involved in closing a Limited Liability Company in Dubai Mainland.

• The first step in winding up the company in the UAE is to cancel all the existing employment contracts and visas under the company.
• The termination must adhere to the labor laws. The right compensation and notice period have to be given to the employees.
• The board of directors must prepare a resolution and appoint a liquidator. The board resolution document must be attested from the Notary public.
• Assign an Authorized Company Liquidator to initiate the Company Closing process, coordinate the Liquidation Audit documentation, obtain required clearances, etc.
• Prepare all the documents along with the board resolution. (Trade License Copy, Auditor report, Authorized Signature Certificate. etc.)
• Cancel all the visas, & get the clearance letter from all the government agencies, immigration, DEWA, Etisalat, banks, customs, Ejari Cancellation, etc.
• Pay all outstanding debts and collections to and from the suppliers
• News Paper publication (English & Arabic) for obtaining No objection from Stakeholders, customers, creditors & suppliers.
• The copy of the advertisement, along with No Objection Certificate from Concerned authorities is to be submitted with all documents
• Submit all the required documents to the Department of Economic Department (DED) for assessment and review.
• The company liquidation certificate will be issued from the DED. There is a fee to be paid for the issuance of the certificate.

2. Company Liquidation in Dubai Free Zones

Across the Free zones the company liquidation process varies significantly, however here are the basic requirements of company liquidation in Dubai.

• A Board Resolution was issued to liquidate the company in the respective free zone
• Appoint a registered company liquidator to conduct the company closing procedure
• Initiate Visa cancellation of all employees before closing down
• A liquidation letter has to be submitted to the free zone approved auditor to prepare the closing financial statements
• Clearance Certificate from the free zone authority
• Other clearance certificates from telephone service providers
• All the fees have to be paid to the respective free zone authority to obtain the final cancellation certificate.

The Requirement of Liquidation Audit in Dubai

Liquidation Audit is a critical task every company has to initiate while closing down its operations. Auditors will assess all the company’s assets and create an inventory record.

The Audit will also help in arriving at the company’s outstanding obligations and preparing a report on the same. It will include the list of assets & liabilities and help in settling the creditors efficiently.

Lastly, the Company can proceed to a successful cancellation of the trade license. All the company’s assets will be converted to cash and distributed to the creditors or fulfilling any other company’s liabilities.

There are specific guidelines and business laws to distribute the assets and clear the company liability before closing down.

Who is Authorized to Perform Liquidation Audits in Dubai?

Audit and Accounting firms who are approved and registered by the UAE financial authorities in the mainland and Free zones are eligible to conduct liquidation audits.

The liquidation audit report has to be submitted for reference to the responding authorities for receiving the company cancellation certificate.

How Aurion Will Assist You?

Aurion Business Consultants are expert company liquidation agents in all major free zones as well as the mainland of UAE.

Our Business and legal experts will guide you throughout the company liquidation process. We assure you of a hassle-free company liquidation in Dubai or UAE.

To know more about Company Cancellation in UAE, connect with our expert business setup consultants right away!

The post Company Liquidation in Dubai – Key Steps appeared first on AURION.