Business in the UAE is booming like never before, be it large, mid-sized or small, and it’s the best time to be in business, at least since the global slowdown of 2008-2009 changed the business world as we know it, says an article published in Emirates 24X7 News in September 2014. If you are planning to take advantage of the various opportunities in the UAE, then you must do your research extensively and invest carefully.
Where to Invest Your Money
Here are few avenues you might want to consider while setting up business in the UAE.
1. Real Estate – Architects come from all over the world. The UAE is continuously evolving in terms of construction to meet the international standards of investors and tourists alike. Although the real estate sector is cyclical in nature, it offers high growth opportunities.
2. Financial Services – Since business is booming in the UAE, firms need financial services, such as accountants, auditors, bookkeepers and more. If you have a solid background in financial specialties, this is one sector in which you can make huge profits by setting up a financial services consultancy.
3. Food Sector – With the rise in population, the demand for food is increasing every day. The UAE does not produce much of its own food, but imports most of it, therefore prices tend to be high. Also, the country has a significant culture of eating out in restaurants and cafes, especially in busy shopping malls and at important landmarks.
4. Trade – Liberal laws, such as zero personal, corporate, wealth and capital gains taxes with nominal custom duties, make it a haven for the trade. It is safe for both shipping and banking, which is an added bonus.
5. Job Agencies – Hundreds of people come to the country in search of a job every year. Establishing a job agency for skilled and unskilled employees can help you harness the opportunities in the field. It is fairly easy to hire people from all around the world, except a few restricted countries.
6. Bars and Night Clubs – The expanding tourism sector has given the much required boost to other sectors related to it. This sector offers immense opportunities for expansion as you grow. Alcohol licenses are generally given out to 4 and 5 star hotels.
Other emerging business opportunities in the UAE are transport, construction, healthcare, security and more.