Opening your own business is such a rewarding experience. It takes so much planning, dedication, and decision making. One of the biggest decisions you can make is deciding what industry to get into because you want to make sure it’s successful. That’s why entrepreneurs from around the world are taking advantage of the growing economy in the UAE and the booming retail industry in Dubai.
The retail industry has grown worldwide and has been proven to be successful in the UAE. You can take part in this growing industry with the help of the best retail industry consulting firm in Dubai. Let MSZ Consultancy guide you through the entire process to successfully setup your retail company.
Out of all the successful industries in the UAE, retail is one that has been proven successful time and time again. One of the reasons this area has seen so much growth is because of the population. The country continues to grow year after year, with more people moving in. Those new people to the country need a place to purchase essential items, right? So retail is a great business to have in an area that’s growing so rapidly.
Tourism is also huge in the UAE, which is another reason retail sales have skyrocketed. Millions of people visit the UAE each year and make purchases while they are there. In fact, the Department of Economic Development (DED) released a study showing that purchases from tourists account for about 20.4 percent of overall retail sales. That’s a pretty big number!
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The Future of the Retail Market in the UAE
This may surprise you, but the future of retail is a storefront. That’s right! Brick and mortar stores are expected to remain relevant. Online shopping may have increased over the years, but retail stores are still expected to dominate even in 2030.
However, there may be some changes made to the typical store. Reports expect store locations to become showrooms and focus on delivering brand experiences.
Some other predictions expect to see over 650,000 square meters of retail space pop up in Abu Dhabi and 3.7 million square meters to develop in Dubai. So, the good news is that it doesn’t look like the popularity of retail stores are going anywhere anytime soon!
What You Need to Do to Open Your Retail Business in UAE
It takes a lot of work to get your own business started. There’s a lot of planning involved and regulations that have to be met. MSZ Consultancy can help make the process easier by guiding you through the entire setup.
Here are the steps that have to be taken to start a retail business in the UAE:
Draft a business
Find a local sponsor (if you’re planning to open on the Mainland) who will hold 51% of the company shares.
Find a competitive location for your business.
Register your business with the relevant authorities:
Department of Economic Development
Chamber of Commerce, etc.
The business license is issued from the governing bodies.
What Are the Benefits of Starting a Retail Business in UAE?
The retail industry in Dubai has proven to be successful year after year. Here are some of the reasons that have helped boost this industry:
The UAE is a big tourist destination
The UAE attracts millions of visitors each year. Tourism sales account for a large portion of retail sales.
There is an increasing number of residents in the UAE, which demands more presence for retail stores.
The UAE is constantly working to improve the technology sector. Recently an AI robot was introduced to help improve the retail industry.
Complete Repatriation of capital invested, and profits earned
The UAE provides complete flexibility to business owners to repatriate the capital invested and profits earned during the business cycle.
The UAE’s tax benefits are one of the biggest draws for business owners. You won’t have to worry about corporate or personal taxes.
Exposure to the international market
The UAE is in a strategic location surrounded by Saudi Arabia, Oman, and Qatar. This location provides a secure gateway to investors who want to get into the international market. There’s also a Double Tax Treaties Agreement in place that will allow UAE companies to do business in numerous areas without having to pay double taxes.
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The retail sector has proven to be a successful investment. There are also multiple opportunities within the industry in the UAE, including:
Beauty retail industry
Invest in the Booming Retail Industry in Dubai
Now you know about the advantages of setting up a retail business in Dubai, are you ready to get started? At MSZ Consultancy, we are proud to be the best retail industry consulting firm in Dubai. We truly care about our clients, and it shows! We’ve helped thousands of entrepreneurs successfully form their business in the UAE, and we are ready to do the same for you! Don’t wait! Call us today at +971 52 544 1248 to get started with your FREE consultation!
WHAT WE DO?
At MSZ Consultancy, we take the business dream you have and make it a reality. That means we help you completely build your company from scratch. We start with the idea you have, then we walk you through the setup process, and give you the tools you need to become a self-reliant, successful business owner.
HOW DO WE HELP?
We help make business setup simple. We have a unique team of business setup consultants, lawyers, and PRO executives that help with all your business needs. Not only do we get your business registered, but we can help with paperwork, legal advice, and provide financial expertise.
WHY CHOOSE US?
MSZ Consultancy takes pride in being the best business setup consultant in Dubai. We truly care about our customers, and it shows in our services. We tailor our services to fit your exact business needs. We are easily approachable, we stay on top of business trends to offer innovative strategies, and we never compromise on the quality of our services.
Business Services for Your Retail Company
At MSZ Consultancy, we understand that it takes a lot of time and dedication to keep a business running successfully. That’s why we help make things easy with our corporate services. We provide assistance with paperwork, getting a local sponsor, finding a location for your business, and more. We will do whatever it takes to make things easier on you!
We can help you protect your work and create more revenue with our trademark registration services. We specialize in registration, renewals, amendments, and all matters pertaining to protecting your intellectual properties.
If you have a business on the Mainland, then it’s a requirement for you to have a local sponsor. A local sponsor is a UAE national who will own 51% of the shares in your company. We have access to reliable sponsors that you can trust with your company.
Paperwork is extremely time-consuming, and if there’s a simple mistake, then it could cause a big problem in your plans. That’s why we offer Public Relations Officer services to handle all of your documentation and clearing services.
Bank Account Assistance
Once you open a company in the UAE, it will be important to have a bank account there to keep track of your assets. However, no bank is the same. Each bank has different requirements for opening a corporate account. We will make sure you have everything you need to get your account setup.
If you plan on importing, manufacturing, re-exporting, and distributing products in Dubai, then you will need to get your products registered. This is especially important for beauty products, food products, and health supplements. MSZ Consultancy is very familiar with the product registration process and will make sure everything is registered without any issues.
It can be difficult finding a location for your retail store, especially if you’re not familiar with the area. That’s why we have Business Centers in strategic locations throughout the UAE. We can help you find a fully furnished building, or a blank space to make your own. Whatever it is that you’re looking for, we can find the perfect fit.
Liquidating your company is a difficult decision that no business owner wants to make. If you have to make this painful decision, we will help you get through it. We can help you get everything together to start dissolving your business and guide you through the entire process.
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Would you like to speak to one of our business consultants in Dubai for setting up a business in Dubai? just submit your necessary details and we will get in touch with you shortly! we are a leading consultancy in Dubai
1407, Mai Tower, Al Nahda, Dubai United Arab Emirates, P.O.Box 19845
"We are not a law firm, any legal advice required by our clients will be outsourced to a license law firm in Dubai". We are a corporate services provider license by the Dubai Economy license number 788195.*