How to Start a Manufacturing Business Setup in Dubai?
MANUFACTURING BUSINESS SETUP
The future lies in manufacturing business in Dubai, it is something that one needs to learn. One can learn many things from books, manufacturing, traveling, learning about production in factories, and simply understanding, how the product is produced versus just moving boxes and sell products.
To lead as a global manufacturer one has to pick the right people in the right place because then management will become a lot easier, constant learning and re-educating are the most important factors. Human resource is a big challenge for entrepreneurs and one can cope with this by talent grow within the organization, giving the people tools to grow by providing educational platforms in the area where they feel weak like finance & operations, etc., this is something a constant investment needed to be made in the people working with an organization.
Definitely, Dubai is the land of opportunity and it is a young country so one can come across many opportunities for business growth. In the early 2000s it was not only construction but also retails, properties, and everything that was growing. An entrepreneur can find an opportunity to serve in the b2b space or building construction products that are having good scope.
Parallel to tax exemptions and other business perks Dubai has its geographical privileges that provide the manufacturers to access the corners of the world through air, sea and land routes.
Dubai’s industrial sector’s outlook is quite promising, as the emirate is working on a well-diversified strategy to promote the sector with a key focus on knowledge-based, sustainable and innovative industries.
The latest official data from Dubai Exports revealed that the emirate’s industrial exports jumped 31 per cent in the first-quarter of 2019 to Dh42 billion, as compared to Dh32 billion for the same period last year. India was the top export destination for industrial goods from the emirate, accounting for 11 per cent followed by eight per cent each to Turkey and Oman, five per cent to China, and four per cent to Japan in Q1 this year.
The industrial sector is the fourth largest in Dubai’s economy with 9.2 per cent contribution to its GDP at a value of Dh36.8 billion in 2018. Metals was the highest contributor with 26 per cent followed by 15 per cent machinery and transport, 13 per cent F&B, 11 per cent each for rubber and mineral products, chemicals and pharmaceuticals and wood and paper products.
Globally, manufacturing has shown an appetite for adoption of digitisation with the explosion of technology-based innovation. In this content and the objectives of the Dubai Industrial Strategy 2030, Dubai has been working tirelessly with its partners on various initiatives to ensure that the emirate becomes a global platform for knowledge-based sustainable and innovative industries.
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Mainland Company Setup
Possible to operate from UAE
No Capital requirements
No currency restrictions
Employment visa processing made simple
Repatriation of profits and capital
No audit requirements
Minimum responsibility and maximum benefits
Single person can open up an LLC
The maximum number persons or employees an LLC can have is 50
Corporate bank account in UAE
Presently, there is no requirements to deposite the share capital in UAE local bank.
Draft the MOA and AOA
Help in obtaining approval from DED
Registering the company name
Acquiring out an office space