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Opening a business in Dubai. Any experience?

Kokaka

Contributor
Read Millionaire Fastlane
Aug 9, 2019
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Hi all.
So as some of you know, Im a starting entrepreneur in the beauty business.
So yesterday, I got a very good proposition from a partner who wants to open an advanced beauty clinic in Dubai.
She is from Dubai herself and has had 2 businesses, so the Idea is that I stand for the machines and the training and she does the management, staff and precediour.
Because of the rules of Dubai, I need to find a sponsor that hold 51% if I dont want to open in a Free-zone, I dont want to that.

So does anyone have some experience, stories or insight on how it is to open a business in Dubai? You can read up alot online but its always fun to hear from real people.
Thanks
 

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Optimusnorm

PARKED
May 20, 2021
2
0
1
Hi all.
So as some of you know, Im a starting entrepreneur in the beauty business.
So yesterday, I got a very good proposition from a partner who wants to open an advanced beauty clinic in Dubai.
She is from Dubai herself and has had 2 businesses, so the Idea is that I stand for the machines and the training and she does the management, staff and precediour.
Because of the rules of Dubai, I need to find a sponsor that hold 51% if I dont want to open in a Free-zone, I dont want to that.

So does anyone have some experience, stories or insight on how it is to open a business in Dubai? You can read up alot online but its always fun to hear from real people.
Thanks
Hi there,

I'm Dubai based (still working a slowlane job but now working on some fastlane ideas in my free time finally).

You don't need to find a local sponsor anymore in Dubai for many kinds of businesses. The rules changed recently. It's best to find a company that specialises in business formation services and get the latest info on what kind of company structure you can put together for your beauty business idea.

Dubai has a high cost of living, most of it's population are expats who have little to no long term security, and it's suffering from high inflation and still has many unclear rules and procedures when working or setting up a business. Anyone who lives in Dubai knows the rates of businesses like cafes, restaurants, beauty salons coming and going within 1-2 years is much higher than in developed markets. If you don't want your business to vanish in a couple of years you'll need to do a lot of homework about Dubai, the location of yours salon, your target market and you'll need to be extremely conscious of costs - local people don't always do details and the broad figures you are given for set up and running will soon inflate significantly if you are not prepared.
 

Kokaka

Contributor
Read Millionaire Fastlane
Aug 9, 2019
132
80
64
Hi there,

I'm Dubai based (still working a slowlane job but now working on some fastlane ideas in my free time finally).

You don't need to find a local sponsor anymore in Dubai for many kinds of businesses. The rules changed recently. It's best to find a company that specialises in business formation services and get the latest info on what kind of company structure you can put together for your beauty business idea.

Dubai has a high cost of living, most of it's population are expats who have little to no long term security, and it's suffering from high inflation and still has many unclear rules and procedures when working or setting up a business. Anyone who lives in Dubai knows the rates of businesses like cafes, restaurants, beauty salons coming and going within 1-2 years is much higher than in developed markets. If you don't want your business to vanish in a couple of years you'll need to do a lot of homework about Dubai, the location of yours salon, your target market and you'll need to be extremely conscious of costs - local people don't always do details and the broad figures you are given for set up and running will soon inflate significantly if you are not prepared.
Hi.
Thanks for the advice about finding a company that helps with the structure.
I know there are the Free Zones but I really want to open in Jumeirah or other "prime" locations. With the new rules, can you as a foreigner open outside the Free Zones?

Also appreciate the point about how the local people present numbers. Will be very concous about this in the future.

I think this plan can work because I was able to find the perfect partner. She is from Dubai and worked with establishing foreign companies there, she is also passionate about beauty and has a degree in it. So I have a foot in to Dubai through her.

Happy for the advice and if you have any tips on what to look out for, what can work for my benifit etc, if the people are trustworthy or not etc.

Thanks you so much and good luck with your fastline ideas
 

Optimusnorm

PARKED
May 20, 2021
2
0
1
Hi.
Thanks for the advice about finding a company that helps with the structure.
I know there are the Free Zones but I really want to open in Jumeirah or other "prime" locations. With the new rules, can you as a foreigner open outside the Free Zones?

Also appreciate the point about how the local people present numbers. Will be very concous about this in the future.

I think this plan can work because I was able to find the perfect partner. She is from Dubai and worked with establishing foreign companies there, she is also passionate about beauty and has a degree in it. So I have a foot in to Dubai through her.

Happy for the advice and if you have any tips on what to look out for, what can work for my benifit etc, if the people are trustworthy or not etc.

Thanks you so much and good luck with your fastline ideas
My pleasure - I'm not up to speed with all the latest rule changes so would advise speaking to someone who does company formation full time, or even a lawyer from firms who handle company formation.

You mentioned your partner is "from Dubai". Is she actually a UAE national or someone who was born in Dubai? Most people in Dubai are expatriates, who have less clout and influence than an actual citizen.

Everything tends to take longer in Dubai usually, unless your partner is someone very high up who gives orders. It's a place of many nationalities, and trust is sometimes difficult as some people have very different ideas about what is fair business compared to others. It's worth vetting anyone you work with carefully and looking for evidence of their claims they make - a place like Dubai is all about appearances and people tend to exaggerate a lot as a result.

Anyway I wish you luck. If you manage to get to Dubai anytime soon let me know as I doubt I would be travelling much this year.
 

Putt

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jan 1, 2020
86
130
125
Get a good PRO and life will be easy here in the UAE.

New ownership rules for most trading businesses allow you to fully own and operate anywhere within the country. That being said, there are certain freezone options in the direction of JBR and JLT.

I go through the proecss a lot both for myself and people I work with so happy to answer any questions about living or doing business in the UAE.
 

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