Embarking on an entrepreneurial adventure is not easy; you need to be prepared and, above all, carefully study the market in which you wish to develop your business. Before you start considering your company's legal structure and registration, we recommend researching the thriving sectors in the United Arab Emirates, particularly in Dubai.

Why choose Dubai?

As you may have heard in the media over the past few years, the United Arab Emirates have become, in just two decades, a destination where anything is possible. Favored by tourists and coveted by investors, it is a place that has developed at an extraordinary pace, and the trend has continued to grow year after year. This can be explained by several factors that have led small and large companies to relocate to or even establish themselves in the country. One of the attractions of setting up a business in Dubai is its tax system, which encourages businesspeople to develop their businesses. Today, it is easier to establish a company in Dubai because the government has relaxed the rules. In addition, the post-COVID-19 period has caused economic damage worldwide and prompted people to rethink their future. The inhabitants of the United Arab Emirates depend on oil, and knowing that it will one day run out, they have decided to invest in thriving sectors such as real estate, tourism, and entrepreneurship.

The most profitable industries in the United Arab Emirates

1- The real estate sector

Known as one of the world's main expatriate hubs, Dubai's population is 70% foreign. With more than 16 million tourists last year, Dubai has retained its position as the fourth most visited city in the world for the fourth consecutive year, making Dubai's real estate market highly lucrative and offering numerous opportunities. Valued at USD 5.4 billion with an average annual growth rate of approximately 5% during the forecast period, this industry is one of the most sought-after in the United Arab Emirates due to the massive increase in property purchases and sales in the country. You can now establish a real estate company in Dubai with 100% foreign ownership, particularly in property development, property management, and brokerage.

2- Import-Export Activity

Importing and exporting in Dubai are highly lucrative sectors. Given Dubai's central location and economic diversity, launching a business specializing in import-export is a wise choice and will offer you numerous opportunities for expansion and profitability. Establishing your business in a free zone such as DMCC can facilitate its success by providing zero import and re-export duties, along with advanced logistics and transportation infrastructure. Trade is one of the most important industries in the United Arab Emirates (Dubai), which is also the wealthiest country and the 25th-largest exporting country, while exporting a wide range of products. The UAE is a member of the World Trade Organization, and the UAE is a major trading partner for countries around the world. As a member of the World Trade Organization (WTO), it can export to a large number of WTO members at very low tariffs.

3- E-Commerce

Improved logistics, confidence in digital payments, and enhanced security are all factors that have contributed to the development of the e-commerce industry in Dubai. It is even possible to establish your e-commerce business in Dubai and then manage it remotely from another location while benefiting from low taxation. E-commerce experienced rapid growth during the pandemic. The process of ordering products with one click attracted attention. An entrepreneur can launch an e-commerce business and capture the regional, national, and international markets. In Dubai, the e-commerce market is as lucrative as any other market. Studies show that approximately 91.9% of Dubai's population has access to the internet.

4- The tourism sector in the Emirates

Tourism is the backbone of the country and makes a significant contribution to the economy's GDP. The tourism sector is expected to account for approximately USD 280.6 billion by 2028. Dubai, in the United Arab Emirates, has been ranked the world's most visited city by international tourists. The steady increase in the number of tourists in the country creates an opportunity for investors. Tourism is the backbone of Dubai and makes a significant contribution to the economy's GDP. Dubai's main attraction is shopping. Dubai offers the best market for gold, jewelry, clothing, and many electronic products. Dubai is a perfect combination of ancient and modern attractions. The United Arab Emirates' economic growth rate has increased dramatically due to the growth of Dubai's tourism industry.

5- Information technology

Whether for personal or professional use, technology has created a strong dependency in people's minds. Whether it is a small business or a multinational corporation, every activity is considered incomplete without the involvement of technology. Dubai is a hub for international technology companies. The Dubai government is implementing policies and initiatives to stimulate technological innovation and attract technology entrepreneurs. It has also taken serious steps to strengthen the country's IT infrastructure and help businesses operate efficiently, with the aim of becoming the world's smartest city. Over the years, Dubai's free zones have attracted many technology start-ups. Information technology services, including IT companies, web development, mobile applications, and software, are in high demand. The Dubai government has also taken serious steps to strengthen the country's IT infrastructure and help businesses operate efficiently.

A tailor-made solution

One of the strengths of our firm lies in its expertise and solutions tailored to everyone's needs. Our team strives to offer you every possibility for establishing a company and expanding your business in Dubai. If you have any questions or are hesitant about starting a business in Dubai, do not hesitate to contact one of our advisors: we are here to help you succeed in the United Arab Emirates. More information at support@merritt.group.