Dubai has emerged as one of the top locations for conducting business. It has a vibrant international economy, liberal tax laws, and first-rate social and economic infrastructure. It is hardly surprising that Dubai has attracted so many company owners.
Here is a list of the top 5 rising business setups in Dubai for aspirant entrepreneurs who wish to launch their own company there.
Export and Import
The import and export industry is extremely profitable, ranking first on our list of industries. Starting an international trade company in Dubai may be profitable for growth potential and profitability due to the city’s geographic importance and economic variety.
Healthcare
While COVID-19 has presented many difficulties, it has also shown fresh prospects for Dubai’s health-tech industry. By 2025, it is projected that the UAE’s healthcare industry would bring in AED 39.4 billion. One of the six key sub-sectors for the city is designated as “Pharmaceuticals and Medical Equipment” in the Dubai Industrial Strategy 2030.
When considering a free zone company formation, healthcare investors should primarily take into account three areas:
- Medical Technology Innovation– Modern technologies and automation are emphasised in a significant portion of DHA’s Dubai Health Strategy 2021’s innovation-focused component.
- Health Travel – The COVID-19 travel limitations slowed the growth of the medical tourism industry, but the UAE has recovered, and by 2023, it is anticipated that medical tourism revenues would reach AED 19.5 billion.
- Expanding Local Demand– As demand rises along with the population over the next six years, local investors are anticipated to assist healthcare providers in Dubai in growing their operations.
Actual Estate
With 70% of its population made up of foreigners, Dubai is regarded as among the top expatriate hotspots in the world. According to a survey by Forward Keys, 4.88 million visitors were the year before, making it the top destination city for business setup in Dubai.
This makes the real estate market in Dubai extremely lucrative. Dubai’s real estate industry offers a wide range of options, including brokerage, property management, and real estate development.
Information Technology
Due to the Dubai government’s ongoing implementation of programmes and regulations to promote technological innovation and draw in digital entrepreneurs to make Dubai the world’s smartest city by 2022, Dubai has grown to be a hub for worldwide tech-based firms.
E-commerce
Dubai’s retail e-commerce sector hit a record $3.9 billion in 2020, growing 53% YoY, driven by the COVID-19 pandemic’s digital transformation.
One important factor in the development of Dubai’s e-commerce industry is the city’s acceptance of “smart government” projects and programmes. The growth of the e-commerce sector in Dubai has been aided by better logistics, trust in digital payments, and enhanced security.
The target market is greatly expanded compared to brick-and-mortar retailers, which is the nicest part. Even better, you may create an e-commerce company in Dubai, take advantage of the city’s advantageous tax regulations, and operate it remotely from another place.
Get in contact with us to begin the process of free zone company formation. At each step of the procedure, we will help you out with everything from document generation to submission management, translation support, bank account setting, approval requests, and advice services.