What Business Can You Start in Dubai with $5000 (approx. AED 18,500)
UAE is a cradle for successful businesses and innovative ideas. It is strategically located in the heart of the Middle East, making it the epicentre of business and finance activities between the West and the East. Naturally, this attracts people from around the world, inviting them in with the promise of a thriving economy and supportive business culture.
Business setup in UAE is profitable, and you can get started with minimal investment. Amidst Dubai’s big money and big business, there is a community of entrepreneurs bootstrapping their way to the top. There is no secret to this success- you only need to depend on your passion, skills, and commitment.
But before you think about what business to set up in Dubai, you must first ask yourself- what are my skills, and how can I use them to solve a problem that people might have? Each of you has something unique to offer.
Once you identify your skills and corresponding market demands, you can move on to the next big question.
How Can I Start My Business with Minimal Upfront Investment?
Dubai and the wider UAE provide plenty of low-cost business setup opportunities for entrepreneurs across industries. The country boost a 0% tax rate and is host to several free zones to provide 100% ownership of company/assets to non-residents. You can start your business with AED 10k or AED 50m.
Once you have setup your business in UAE and build a strong clientele, you can easily expand as your grow, acquire proper infrastructure, and eventually move into a physical working space. So, to turn your entrepreneurial dreams into a reality in Dubai, you must first start.
Here are some of the businesses you can start in Dubai with AED 18,500 (approx. $5000).
Low-Cost Business Setup Ideas in Dubai, UAE
Wellness and health are essential parts of everyday life in the UAE. In 2018, healthcare expenditure was AED 50.3 billion (3.4% of GDP) and predicted to rise to AED 53 billion in a single year.
If you have the needed skills or qualifications, you can start your wellness practice without any additional capital. Once you acquire your business license, you can teach health management or design nutritional plans without the need for infrastructure or equipment setup.
You don’t need years and years of experience to become a valuable business consultant to others in your industry. As long as there is an audience for the advice you are providing, you can run a successful consultancy business in Dubai, UAE.
To set up a successful consultancy business in the UAE, all you need is your license, a functional website, maybe a few business cards, and you are good to go. Based on your experience and scope of work you can earn anything from AED 250 ($70) per hour to AED 2,000 ($550) per hour. Your consultancy business success and value solely relies on your industry expertise and a good laptop.
Much like consultancy, tutoring is another business that allows you to use your existing skills to start working with a range of clients. Tutoring is a great low-cost business setup as you can teach practically anything – an instrument, a language, martial arts, grooming, fitness, illustrations, and academic subject such as Maths, Science, and History.
Worldwide, the education industry is one of the fastest and steadily growing business industries. As long as you have the basic infrastructure and qualifications, you can run a successful Tutoring/Instruction business setup in the UAE.
All business ideas have one thing in common- they need a website. Businesses want to reach the right audience and make better, faster conversions. If you have the skillset needed to make that happen, you can run a successful business in Dubai for little to no initial cost.
All you need is a laptop, a few basic tools, and a commitment to build better, more innovative web designs. Web design allows you to work with a wide range of local and international brands across various sectors and industries.
Everyone uses their phone to buy things these days. The online buying tendency and spending capacity are rapidly growing, and with the market being relatively new, there is an enormous scope of E-commerce business ideas available to you.
It’s easy and affordable to get an E-commerce license in Dubai. Once you have taken care of all the legalities, you can start with no upfront stock or warehousing cost. You can use a dropshipping company to manage and deliver all your products on your behalf.
BEAUTY SALON & PRODUCTS
Are you a qualified beautician? Then, setting up a beauty salon or spa might be the best business opportunity for you in Dubai, UAE. The global beauty and personal care industry is booming and is estimated to grow positively over the coming decade.
Again, the start-up cost is minimal. Whether you are a licensed practitioner, a beauty expert, or a cosmetic manufacturer, you can set up a Salon Business in the UAE with minimal investment and a basic infrastructure setup.
Residential house cleaning is no more an exclusive service need of the rich. The faster and busier people get, the less time they have for dedicated house cleaning and keeping. Setting up a Cleaning Service in Dubai is easy and cost-effective.
All you need to bring to your job is a good work ethic, an appropriate business license, and some good cleaning supplies. Once you have established your cleaning business in the UAE, you can expand into commercial cleaning and charge more for your services.
Tourism is critical to Dubai’s staggering growth. People travel to Dubai for business, pleasure, and health. Even amidst a global pandemic, the hotel occupancy rates in Dubai increased to 71% in December 2020. There is a whole range of services covered under Dubai tourism, everything from food, hospitality, and safari travel to visa processing and lifestyle management.
As long as you have the skill, the right tools, and the authorized business license, you can set up a business that caters to the constant influx of tourists in Dubai and the other UAE regions.
Setting up your Business in the UAE
The first thing you would need to set up your own business in Dubai is to acquire a license. A Business License is where you spend the most money when starting a small business in the UAE.
A Professional License for a single partner company, with all the processing costs, will cost somewhere around AED 10k-12k. A professional license allows for 100% ownership of the company for foreign investors. You have to appoint a local agent for administrative formalities only. They do not have any direct say in everyday business operations.
Once you have approval from the DED and submit all your necessary documents, you can cut down on additional expenses by doing the following:
- Forgoing a foreign or English business name
- Avoiding the use of European business names
- Limit the no. of business partners mentioned in the license
- Renting a virtual office space instead of a physical office
- Have an Ejari in your name
There are a lot of factors that come into play when deciding which business setup works for you and how you can go about it. While UAE bolsters a supportive business environment and culture, there are a lot of rules and legalities involved. Business formation Consultants in Dubai can help you manage your business license and visa processes with no additional costs or delays. Work with the industry experts to make the process easier for you and set up your business in UAE without any hassle.