How much does it cost to Starting a Business in Dubai?
Getting started with a business in Dubai
Starting up a business in Dubai is a dream for many entrepreneurs. Setting up your dream business in Dubai can provide you with many benefits along with a wide range of opportunities. Dubai is a region where every type of business prospers when done with a proper understanding of legal aspects and following all the procedures properly. But the main question is, how much is the cost of starting a business in Dubai? Let’s find out.
One has an option of business set up on offshore, free zone, or mainland region. While every region has its benefits and importance, all of them have one thing in common that all of these set up locations require low tax payments and all these regions are leading global business hubs.
Setting up a company in Dubai will also require some money for various procedures. Money issues may interfere significantly with the business setup. This money is required for basic steps like licensing and is even used to pay the workers. With money flowing, one can spend on business without the worry of running out.
People, therefore, take a loan or save money in advance for such issues concerned with business setup. While money is definitely the most important thing required for business setup, the amount of money required differs with the place where the company is situated in addition to the type of business that needs to be set up.
The cost of setting up a business in Dubai depends on the type of the business that has to be established (manufacturing, trade, services, or retail); however, while budgeting, these are the guidelines that one should take care of:
- Legal costs: The legal costs include business setup costs, professional fees, government fees, and other such costs. It starts from AED 7347 and goes up to AED 36732. This is the approximate cost of setting up a business in Dubai in the trade, retail, or services sector. Manufacturing is not included in these costs.
- Lease of the place where the business will be set up: A lease of the space where the business company will be set up is required. It is necessary for insurance of the business license which is required to run any business in UAE as per the rules.
Commercial office space in Dubai, start from AED 110 per square feet per year and can range up to AED 735 per square feet per year. Retail spaces can range from AED 330 per square feet per year to AED 1837 per square feet per year. The prices in other emirates may be cheaper. No licenses are issued without the lease of the workspace.
- For Visa: Visa costs up to AED 7500 and partner visa around AED 4500.
- Different businesses cost different ranges of money- Different types of businesses cost different money in Dubai as every business has different requirements. A grocery store setup will cost around AED 75000–80000. Setting up a restaurant will require AED 60000–70000, these prices may vary depending on how luxurious you require your restaurant to be.
However, AED 40000-45000 may be required to incorporate a company whether it is in a free zone or by a sponsor. This estimated cost is exclusive of the rent and other expenses required.
Operations of business can be started once the above mentioned factors have been taken care of. Enough money should be kept in hand to handle the expenses of the business for initial four to six months. While the business margins in Dubai are good, staying profitable is one of the biggest challenges faced.
Radiantbiz provides all round solution to all business setup queries whether it is an offshore, a mainland or a Freezone setup. We are transactional banking and trade finance experts and will help you in managing your corporate bank account. Some of the packages provided by us at Radiantbiz are-
- We can help you Setup your Company for Goods Wholesale in Dubai Mainland Company with AED 18,900. Office space is on us with DED Ejari. Get your trade license in 24 hours with a guaranteed corporate business account, Free basic VAT consultancy, free company stamps, and business cards.
- Setup Company in Dubai Based Free Zone with AED 12,500 and get 3 business activities in one license without the hassle of being physically present. Free bank account opening assistance, Free business cards, and company stamps along with free basic VAT consultancy provided.
We provide many such offers for Business setup in UAE. Contact Us now to book an appointment with our experts.