Saturday, February 4, 2023

The Best Course of Action for Starting a Business in Dubai While Working Full-Time

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The United Arab Emirates ensures fair pay and a healthy work-life balance for all of its employees. Despite these advantages, a research found that about 50% of UAE inhabitants still harbour entrepreneurial aspirations. The fact that the UAE, and Dubai in particular, is one of the best places to start a business only serves to stoke that flame.

Given that the majority of new businesses fail within their first year, the security of having a consistent money stream as a backup is one of the reasons why so many employees wish to launch their firm while still working full-time.

You must adhere to a number of laws and permissions if you wish to start your own business and keep your day job.

In Dubai, is it possible to launch a business while still working?

Yes, if you obtain a licence from a free zone that doesn’t require a NOC, you can launch a firm in Dubai while you’re still employed (no objection certificate). Many free zones in the UAE no longer require employees to obtain permission from their current employer in order to launch their own business due to changes in UAE law.

It could be challenging to ask your current company for a NOC. Due to the nature of your work, certain employers may reject your request. Some organisations could be reluctant to issue a no-objection certificate due to concerns about security, compliance, or proprietary information as well as competition.

However, most companies are reasonable and will accept it if you launch a company to pursue a personal goal, particularly if your company does not compete with theirs. Most likely, your business Plan will be on board and ready to offer a no objection certificate.

However, you might need to resign from your position and launch your own business once you are no longer employed if your current employer declines to offer a no objection certificate.

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UAE labour law amendments

The UAE adopted new regulations for flexible and part-time work. The new rules recognise part-time employees and provide them a comparable amount of vacation time. Additionally, it states that if their present company permits it, employees may launch their own businesses or work from home.

After one year of service, departing employees are qualified for a full end-of-service gratuity under the new law. Prior to this, employees could only receive their compensation after five years of service with the corporation. You can check out the Business Setup Dubai for more information.

Steps for launching a business in Dubai

Starting a business in Dubai entails four essential steps:

1. Choosing a name for your company: You must decide on the name of the business and the operations your company will conduct.

2.Obtaining a business licence: After deciding on a name and business focus, you must submit an application for approval to the Department of Economic Development (DED). Your business licence, the Memorandum of Association, the Certificate of Incorporation, and other legal documents will be provided to you after approval.

3.Applying for and acquiring a work visa: It’s time to launch your Dubai company. You may also submit a visa application on behalf of your family and employees.  Phentermine For Sale

4.Opening a bank account in the United Arab Emirates: As soon as you receive your licence, you should do so. In the UAE, it is impossible to launch activities without a business bank account.

Low-cost business ideas

Here are some low-cost business ideas to take into account if you want to launch your own enterprise in Dubai.

Trading: Given that Dubai is a well-known commercial hub, it is not unexpected that the e-commerce industry there is experiencing tremendous growth. With Dubai’s e-commerce licence, you can run your business from any location. You can exchange anything, including drop-shipped goods and handcrafted crafts.

Food delivery marketplace:In Dubai, the market for meal delivery services is expanding. The coolest part is that you can compete without even owning a restaurant. You can use a delivery service you run to pick up and transport food from neighboring eateries to people’s homes. As an alternative, you can build a local restaurant and cafe affiliate network online and make a small commission on each click-through. You can visit the start a cafe in Dubai for more information.

Social media marketing: In Dubai, there are numerous companies who wish to increase their internet presence. Social media marketing is one way. Due to the time commitment and occasionally complexity of social media marketing, many businesses prefer to work with a specialist who can focus entirely on it in order to successfully develop their brand.

Consultancy:Working in the consultancy sector has historically been a lucrative career option in Dubai.Additionally, it is simpler than ever to get your hands dirty in the business world of today. You can offer guidance on everything, including marketing, human resources, and accounting. To get started, all you need is an engaging website and a proven track record of success in your niche..

Virtual assistant: To get started, all you need is an engaging website and a proven track record of success in your niche.  Almost all skills are in high demand, including administrative support, meeting facilitation, and marketing. 

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