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How to start a business on marketplaces in Dubai, UAE
In recent years, online marketplaces business has experienced tremendous growth across the globe. The ease of connecting buyers and sellers in one place has opened the door for a huge number of entrepreneurs to capitalise on this lucrative industry. Experts predict that e-commerce in the UAE will reach $8 billion by 2025.
Marketplaces have become an integral part of the digital economy, changing the behaviour of buyers and the way they interact with sellers. In today's world, an online sales business can be an extremely lucrative prospect, so it's worth taking a closer look at launching one in the United Arab Emirates.
To stand out in a competitive market, it's important to start by identifying a profitable niche with growth potential and thinking about your unique selling proposition that will appeal to your target audience. Pay special attention to the criteria of demand, seasonality, content and most importantly, margin. Analysing competitors will allow you to identify the strengths and weaknesses of similar products, determining the prospects for development.
Having chosen the goods and reliable suppliers, you can proceed to the registration of business in the UAE. To begin with, it is worth deciding on the economic zone and the organisational and legal structure of the company. Among the free zones for e-commerce, entrepreneurs most often consider freezones Meydan, Shams, IFZA and many others. When choosing a suitable location, it is worth basing your choice on your long-term goals and the scale of your business. For example, if large shipments of goods are planned, you should choose a location near an airport or with warehouse rental options.
Next, you will need to choose a name for your organisation in accordance with the type of business and legal requirements. Once approved, you can apply for a trade licence, which allows you to conduct sales activities on marketplaces. The next step is to apply for a resident visa, obtain an ID and open a bank account to manage your finances.
Each stage of company registration in the UAE has a number of peculiarities and requirements, knowledge of which significantly speeds up the process. Sign up for a free consultation with Openbiz and find out how to launch a business on marketplaces in Dubai.
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