Dubai is one of the most attractive markets in the region for retailers with growth opportunities in the UAE. Setting up a retail shop in Dubai can be very advantageous and growth-oriented for entrepreneurs and business people. To start a retail shop in Dubai, there are some requirements that a businessman needs to adhere to. Let us understand the process to open a retail shop in Dubai
Procedure to start a retail shop in Dubai:
- Do a market analysis:
When you are planning to start a business in the UAE the first step is to understand the market and the target audience. It is very important in order to understand the intensity of the market. This will also help you in the break analysis period and growth of your company. Having a complete picture of this will guide you to set up a business in the UAE in a smooth manner.
2. Business Plan for setting up a retail shop in Dubai:
Prepare a business plan in order to set up a retail shop in Dubai. It has to be done after comprehensive market analysis. A business plan is mandatory for the progress of the business.
3. Find a local Sponsor:
To set up a business in Dubai, one has to appoint a local sponsor. A local sponsor will have 51% of the shares of the company and the remaining goes to the owner.
4. Choose a suitable location:
Selecting a suitable location is the next step for business setup in Dubai. The factors to be considered are the total cost required to set up a shop, customers’ needs, etc.
5. Business registration and licensing:
The business owner has to obtain a Trade license in order to set up a shop in Dubai. Apart from this the necessary certificates and approvals from the Department of Economic Development (DED), before setting up a business in Dubai.
6. Hire employees:
You will need to hire a manager to oversee the operations of the shop, you will also have to provide a visa to the employees if you want to hire them.
7. Submit essential documents to the government authority:
- Memorandum of Associaton
- Passport and visa of the shareholders
- Business application form duly filled and signed by the shareholders
- Initial capital to invest
- Blueprint of the business plan
Contact MSZ Consultancy for to start a Retail shop in Dubai:
To carry out business in Dubai in a smooth manner, it is important to consult expert business consultants who will help you in incorporating your business in the UAE and carry out all the functions in an easy way.
MSZ Consultancy will guide you at every step of starting a business in Dubai. Our business experts are well versed in professional proceedings and will help you in the incorporating process until the end. Get in touch with us today!
Find out how much it cost you to setup your Dream Business
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