Dubai is one of the most preferred vacation destinations in the world. And it is also considered as the commercial capital of the UAE. Hence it is one of the most sought-after places for people with business minds to move to and try their luck.
Points to keep in mind before venturing into business in Dubai
- Revenue is high
- Expenses are low
- Money making is easy
Even though reading these points it may seem that business booming in Dubai, UAE is easy, it is not that simple. There are certain loopholes in the system.
- Visa loophole- you can get your visa for free(that if you have contacts) or by paying some amount. It is not illegal or legal but if none finds out no one knows.
- Policy loophole- Nothing new that you might do or a new idea you might come up with is not stated in the law as illegal.
- Education loophole- There is legal advice providing firms that will give you fake degrees and they do it legally. Once you have the ‘attestation services’ covered you’re good to go.
- Business card loophole- You can create a business card for any business and there is no way to verify your claim.
- Registration loophole- And just like fake degrees there is no way to verify a registered business.
- Legal court loophole- If you have any cases pending against you or any lawsuit just make sure your company is registered to the name of a very powerful local Arab who had contacts and no one will be able to touch you.
If you are planning to start a business in Dubai you can get more info here. Read More: 10 Things to keep in Mind while starting a Company in Dubai
What business should you do?
If you are to ask me the best business opportunities in Dubai, it is any business that requires the least investment that you can give and gives the best revenue while capitalizing on the fact that others haven’t noticed. And even though you may take disadvantage of the loopholes in the system but you must never ever do anything illegal. At the end of the day, honesty does pay off.
Although there are innumerable opportunities for you to bank upon, I would still list some of the businesses which you can invest in and work at:-
- Construction- With each passing day, new buildings and megastructures are being constructed in Dubai. This opens a wide array of opportunities for you in the construction sector.
- Oil and gas- This one is a no-brainer, all cities in the Middle East are vast reservoirs of oil and other natural energy resources. This sector still has enough room for new investors.
- Foods and snacks- This is one business that flourishes everywhere and Dubai is no different to it. One can pile up cash by investing in the right direction.
- Tourism- As already stated Dubai is one of the most sought-after vacation destinations in the world. Hence this is another venture where you can invest.
- Energy- And while there are more than enough people already working in this field, there is enough room for others to try their hand at this.
- Trading- Here the major source of income for people is export and import. Any marketable product can be traded and hence you can venture into it.
- Travel agency- With tourism comes traveling complimentary. This business can give you more return that you can imagine.
- Real estate- Along with construction this business goes hand in hand. Flourishing all the same.
- Entertainment houses- The nightlife in this city is happening. You can set up a pub or club in this city.
- Job agencies- You can open an agency for skilled workers who need the right platform to showcase their talent.
Looking for Business in Sale? Read More: 10 Business for Sale in UAE
At last, I will again say the same thing any business that requires the least amount of investment and can give you more return than you can imagine. And any work started with honesty and legally will pay off.