How do you set up a business in Dubai mainland? These are the factors and considerations involved in the process. Learn more.

1. A Complete Guide to Starting a Business in
Dubai in 2023
The gold city of Dubai is one of the hottest business destinations in the world
today. It offers a business-friendly regulatory environment, top-notch
infrastructure, and a cosmopolitan lifestyle. This has made Dubai a haven for
corporates and entrepreneurs to start their businesses in the city. It offers
immense opportunities to scale your business.
According to the United Arab Emirates Ministry of Economy, the UAE has
retained the number 1 position in the Global Entrepreneurship Index for two
consecutive years, 2021 & 2022.

2. (Source:https://www.moec.gov.ae/documents/20121/82728/Why+UAE.pdf)
But how do you set up a business in Dubai mainland? What are the factors and
considerations involved in the process? Let’s explore them in detail here.
1) Business Ideation & Market Research
Identify a niche business idea that is in sync with your skills, experience, and
interests. Then you need to know the depth of the market before you take a
deep dive. Conduct a
comprehensive market study to assess your business's product viability and
financial feasibility. This ensures that you start your business on a strong footing
and minimizes the chances of failure.
2) Comprehensive Business Planning
Your business plan is a document that acts as your GPS and also helps you to
raise finances for your venture. So, you must develop a detailed business plan
that outlines your goals & objectives, types of products or services, sales &
marketing strategies, and financial projections. Competition analysis helps you
take stock of the current market conditions.
3) Selecting the Right Business Structure
The legal structure you choose will determine the level of control over your
business and the compliance requirements. Business setup in Dubai Mainland
can take different legal forms. The business venture can be a sole proprietorship,
a partnership, or a limited liability company (LLC). Each structure has its features,
benefits, and requirements.

3. Please ensure that the name of your business meets the naming guidelines and
reflects its brand identity.
4) Business Registration & Licensing
You must register your business with the Department of Economic Development
(DED) and obtain the requisite licenses to commence operations. The licensing
requirements vary based on your business type and location. Free zones offer
100% ownership and several other incentives to foreign investors.
5) Obtaining Local Sponsorship
A local sponsor or partner is required if you want to establish your business
outside the free zones. They are UAE citizens or companies who will hold a
majority share in the business. An explicit agreement will delineate the terms &
conditions of the sponsorship.
6) Opening a Bank Account
It is necessary to have a corporate bank account. You can open an account in
any of the local and international banks such as the Commercial Bank of Dubai,
HSBC, Citibank, Standard Chartered, etc
7) Choosing the Right Location
Select the right location to set up your office premises. Ensure that it has the
necessary infrastructure for the smooth running of your business and is closer
to your target market. You must also establish a strong online presence with a
good website and social media profiles for your business.
Final Note
Once you complete all the legal requirements and get an office space, you can
start networking by attending industry events and joining professional
associations & local business groups. Get in touch with legal professionals and
business consultants for specific guidance.
Source: https://virtuebizsetup.ae/blog/a-complete-guide-to-starting-a-
business-in-dubai-in-2023/