The fashion business is a store that sells stylish, jewelry, or other luxury goods. Opening a fashion store in Dubai can be a great investment opportunity for entrepreneurs as there is always a demand for new styles and great deals on designer clothes. However, to open a fashion business in Dubai, it requires a lot of planning and decision making. Let us understand how to open a fashion store in Dubai.
Why should you open a fashion store in Dubai?
• Huge Potential
The fashion industry holds a huge market in the regions of Dubai. If you are planning to start a fashion boutique in Dubai then you need to understand the fashion industry and market that you want to target and provide the necessary products/services accordingly.
• Wide range of location options
One of the major reasons for investors to invest in the Dubai market is the availability of different location options. Each of the options helps their business to set up the company according to the financial stability they hold.
• Easier registration process:
The process of incorporating a business in the UAE is easy if conducted with the help of consultants who have in-depth knowledge regarding the proceedings.
Requirements for opening a fashion business in Dubai
• Obtain local support
Once you have organized your business plan to set up your fashion store in Dubai. Obtain support from the national UAE local partner. The UAE national owns not less than 51% of share in the company.
• Business license and registration:
Apply to the Department of Economic Development (DED) to obtain registration and licensing.
• Rent shop premises:
Find the right location to rent your shop. And also obtain permission from the necessary authorities.
• Paperwork and PRO services
There are certifications, visas, permissions, and PRO services required from various entities required to open a fashion business in Dubai
Procedure to start a fashion store in Dubai
- Fill the application form related to business incorporation
- Submit your passport and visa copies
- Obtain No Objection Certificate (NOC)
- Draft a Memorandum and Articles of Association with a local partner
- Decide on the location of your business
- Submit the necessary documents with the Department of Economic Development (DED)
- Obtain a business license from necessary authorities
- Open a corporate bank account
Benefits of starting a fashion store in Dubai
- Taxation benefits
- There is no minimum capital requirement
- No restrictions on trading locations
- Dubai is the fastest-growing economy
- Free zone benefits
- First-class infrastructure
- Work along with government bodies
- There is no restriction in currency limitation
- Low import duty
- More options for business activities.
- There are no limitations to the number of visas.
Are you willing to set up a fashion store in Dubai?
Starting a fashion business in Dubai requires following various formalities, licensing procedures, and more. MSZ Consultancy is one of the leading business consultancy services in Dubai. We will not only assist you in how to establish business in Dubai, but will also help you in understanding the types of company formation in Dubai, and more. Get in touch with us today!