U.A.E Archives

Article, U.A.E

How do Dubai Government Agencies Support Start-ups?

January 7, 2019

Dubai and the UAE are a big hit for setting up new businesses and investing. Do you know that almost 1,700 new trade licenses were issued by the Department of Economic Development (DED) in just the month of May this year; and overall 26,000 transactions were recorded relating to new business registrations and licensing, out of which, almost 12,600 cases were for renewal of existing trade licenses. This data surely proves that this region is enhancing its image as a global business hub.

So why is UAE is becoming increasingly a popular destination for new businesses? It’s because both the government agencies and other companies encourage and support startups. Various initiatives are taken to promote business talent for investing in this region and then supporting them in their initial years of operation.

Let us see some examples of what support has been provided to startups and how can you benefit from it.

Business Initiatives by Dubai’s Department of Economic Development (DED)

Dubai’s DED has a primary objective to give a “supportive environment for creativity and excellence”, while assisting in developing a region that is suitable for investing and bringing in local and foreign businesses. They are aiming to be supportive towards various startups in helping them set up and then succeed in their operations.

DED provides all required information comprehensively on their website; for example, the eight steps to set up your business in the UAE and also various initiatives to assist and promote business investment and startups.

Some examples of these initiatives are:

A recent verdict which cleared companies in Dubai from any past accrued fines (prior to 14 April 2018) and encouraged to renew their licenses within the grace period that ends in 2018.
Another package was announced helping with fines and licenses in times to come, by permitting companies to pay the fines and renewal fee in easy monthly instalments, and allowing them to shelve their trade licenses, if required, for up to a year.
A Commercial Compliance Package, designed with an aim to inform business owners and steer them to operating excellence.

Dubai Chamber of Commerce and Industry’s Startup Hub and Google Partnership

Dubai Chamber of Commerce and Industry’s website has a startup hub, providing helpful guidance for new enterprises. The ‘Frequently Asked Questions’ are very useful for people wanting to find how to get started and they also have regular programmes for various startups on subjects like entrepreneur education and gaining market access.

In addition, Tejar Dubai, which is an entrepreneurs’ development programme has been designed to find and cultivate promising entrepreneurs between 18 to 35 in the UAE. This programme caters to young Emiratis having new business ideas, but might not have either the needed skills or experience to work on it. They offer training (between 3 to 6 months) to prepare these young businessmen to launch and then operate their new business successfully.

Dubai Chamber has also recently got into a partnership with Google to offer a competitive edge to its members in terms of being found online. Dubai Chamber confirmed that the initial members who register on Google My Business (which is a free option allowing businesses to create listings so that they stand-out better online), could get a chance to take part in exclusive digital marketing training in the near future.

Hello Business Hub by Etisalat

This telecommunications company is committed to returning to society and it supports various initiatives in social welfare, education, culture, and international relations. Etisalat also offers critical support for various enterprises, especially startups. If you search ‘Hello Business Hub’, you will get a list of ways you can be helped with your new businesses, like how to get it started, how to increase profitability or productivity etc.

This company also provides an ongoing support center for important new business requirements such as company registration, banking, and insurance, licensing, getting office furniture, etc. They also have a unique and one-of-its-kind ‘onboarding’ programme, aiming to assist new enterprises to get their communication requirements as fast and simply as possible and assistance in terms of zero upfront costs, a personalized visit to your office to discuss your needs within a day and flexible packages. You could pick from a Business Quick Start office bundle which includes broadband internet, latest tablets, laptops, voice, and other devices, or you could choose the more inclusive Business in a Box, which includes high-speed internet, world-class IP telephony, and integrated IT support. Lastly, Etisalat can also give you a tailor-made solution after which you can run your services on an online portal.

Instant License Initiatives by DED

There are many instant license initiatives that have been taken by DED with the exemption of Tenancy for one year. Setting up a business in Dubai has become very quick and simple than ever before; this is in line with DED’s vision to assist business owners in starting and expanding their business operations without getting stuck in lengthy and tedious processes and administrative formalities. Dubai has recently launched an “instant license” initiative to permit entrepreneurs and investors to get commercial licenses instantly; yes, literally within five minutes. An instant License means getting a commercial license issued in just one step without the requirement for the Company’s memorandum of association and even the site’s lease contract for the initial one year only. The license would be granted for a period of a year without even presenting a formal official lease, but all the required documents would have to be presented on renewal. This initiative will surely reduce the human interaction by almost 90 percent by automating the earlier manual licensing procedure.

So, if you are thinking about setting up your business in Dubai or UAE, rest assured that there is enough support from these agencies for you. We, at IMC, are committed to assisting you in case you want Dubai company incorporation or PRO services in Dubai or UAE. Please feel free to call us at +971 43709963 or visit us at https://intuitconsultancy.com/ae/or just write an email to [email protected].

Article, U.A.E

The Booming Sectors in Which You can Set up Your New Startup in UAE

January 7, 2019

With its thriving economy, advancements in technology, and an array of exciting opportunities for entrepreneurs, UAE is the place to establish your startup. But do you wonder which sectors a sure-shot bull’s-eye to start your business in UAE? In this article, we will talk about the main sectors, which have seen tremendous growth in the UAE and even globally.

Beauty and grooming

Data shows that beauty is a huge sector in the UAE, with customers shelling out over USD 9bn on their beauty and personal care products in the year 2016. And these numbers are only expected to grow more in the next few years. The five top-most categories in beauty segment are fragrances, skin care, hair care, colour cosmetics, and men’s grooming. This growth trend along with newer technologies and international trends offer immense opportunities for establishing your startup businesses in this sector in the UAE if you dream to dig big returns.

How can you take advantage?

Using modern technology and adding the latest tools and apps to your business offering is the key today. You could back it up with some major beauty influencers on social media, and do remember that Instagram is especially quite popular these days. Some examples are use of artificial intelligence or big data to identify the suitable skin care products for your customers. You could offer personalized recommendations or some other technology which would resonate with the tech-savvy millennial consumers.

Artificial intelligence (AI)

In today’s times, AI has become a global game changer and offers big opportunities for businessmen in the UAE. As per the data and estimates by PwC, this sector would contribute approximately USD 15.7tr to the global economy by the year 2030, with about USD 96bn just in the UAE. The UAE government has AI on its top-most agenda and has also launched a strategy for developing the same in 2017. The sectors they would apply AI in are healthcare, technology, and education.

How can you take advantage?

AI’s impact is forecasted to be significant and it would cover all the sectors and industries. One way to take benefit from this booming sector is to develop new AI technologies along with the government support and then sell them globally. It’s also a good idea to become an expert in AI and offer technology consulting services to various organisations. Other option is to review your own sector and find how AI could help to save costs and improve productivity or further enhance your offering of products or services.

E-commerce

E-commerce is yet another area where there is a huge scope. Globally, this sector shows worldwide sales of about USD 1.86tr in 2016 and it’s only expected to shoot up to more than double by 2021. The online sales only in the UAE are slated to be around USD 10bn in 2018, which was USD 2.5bn in the year 2015. As the consumers throughout the world have become more tech-savvy, they prefer using social media and handy apps to know about various products and to engage with their favorite brands. Everything is just a click away – be it buying a product online or be it finding reviews on various products and services available in the market.

How can you take advantage?

Start an ecommerce business in the UAE and be a part of this new revolution. You could target some specific markets or go full swing into international markets if your budgets allow. Pick any range of products or just focus in one particular area. Some popular product types for ecommerce are software, beauty, electronics, and clothing and fashion accessories.

Just make sure to use the latest tools or apps, and mobile technologies to form a connection with your consumers.

To conclude, the UAE is a great option of start up your enterprise, especially if it’s in some booming sectors like we discussed. So if you make up your mind for company formation in Dubai in one of these sectors or JAFZA offshore company formation, do get in touch with us, and we will be more than happy to help you with all the formalities.

Newsletter, U.A.E

UAE Latest Business News: Dubai free zones recorded 22 percent trade growth in the year 2018

December 31, 2018

Dubai free zones recorded an all-time high growth of total trade volumes by 22 percent year-on-year in the first nine months of 2018, as per the Dubai Free Zones Council. The authority which manages the emirate’s 24 free-trade sections including Dubai International Financial Centre (DIFC), Dubai Media City, Jebel Ali Port zone, and others said that the free zone trade was at the top with $107 billion or AED 394 billion, which made up 41 percent of Dubai’s total trade in this period. China stood first as Dubai’s most important and significant free-trade partner recording a total trade volume of $16bn or AED59bn in this time period, followed by Saudi Arabia recording $9.3 billion or AED34.2 billion and then with India at $9.2 billion or AED 34 billion.

Dubai Duty Free records $52m sales during discount days

Dubai Duty Free hosts an annual 72-hour sale, which also marked its 35th anniversary this year and raised an astounding AED191 million ($52.33million). The anniversary discount which was applicable from 18 to 20 December presented an extra 25 percent discounts on a huge range of products at the Dubai International and Al Maktoum International airports. An airport retailer shared that the sales figures on 18 December totaled to almost AED42.89 million and AED41.25 million on December 19. However, the final day sales shot up to a great new height to approximately AED106.80 million. The highest selling category was cosmetics with sales figures of about AED46 million, with a close second of AED35.48 million sales of watches and AED34.23 million of perfumes.

Tech firms stand as one of the most searched job postings on LinkedIn in the UAE

Technology-based job positions figure on top as one of the most popular job searches on LinkedIn in the UAE. There were about 10 jobs, which collectively got about 940,000 views in 2018. A business development manager position at Amazon was at the top, followed by a position of a lead railway engineer at ABB and the job of a front office assistant at the Marriot Hotels Dubai Marina complex. The 4^th position was taken by the receptionist and administrative post at Huawei, followed closely by an account job at White Aluminum Enterprises, a customer service officer at Majid Al Futtaim who is fluent with Arabic, a personal assistant position at Emaar, a role of a project manager at Temenos, business analyst position at Dubai Careers and lastly, an assistant brand manager role at Nestle were some of the most viewed job postings.

DEWA is going to partner with a Dubai startup on getting AI innovative solutions

The Dubai Electricity and Water Authority or DEWA have recently signed a memorandum of understanding (MoU) with a startup in Dubai named Whizkey Future labs to design innovative solutions with an aim to change the existing electricity and water utility business models. The partners are going to use Fourth Industrial Revolution technologies like artificial intelligence (AI), robotics, the blockchain, etc for improving efficiency, productivity, and quality of their service. The MoU was signed when DEWA was participating in the 5th Dubai Future Accelerators program, organized by the Dubai Future Foundation.

Newsletter, U.A.E

UAE Latest Business News: UAE brought in 40 percent of Foreign Direct Investment in the Arab region in 2017

December 31, 2018

The UAE succeeded in attracting almost 40 percent of FDI in the Arab region in the year 2017, as per a top official of the Ministry of Economy. Ahmed Al Saleh, who is the undersecretary for foreign affairs at the Ministry of Economy, said that the UAE has been leading the way when it comes to FDI inflows in this region. He further said that the UAE got 40 percent of FDI inflows into the Arab and Western Asian nations and approximately 23.3 percent of FDIs went to the Middle East and North Africa regions in the year 2017, totaling to $130 billion of cumulative FDI inflows, which was 8.7 percent more than 2016.

A whooping $330bn worth of cheques were processed in the UAE in 2018

In the 11 months of 2018, almost 22.5 million cheques which were worth AED1.2 trillion about $330 billion were handled by the UAE Clearing Cheque System, as per the data released by the Central Bank of the UAE (CBUAE). The cheques processed between January to November were almost 80 percent of the total cheque value processed in whole of 2017, which stood at AED1.5 trillion, as reported by the state news agency WAM. Seeing the monthly data, about 2.1 million cheques, which totaled to AED97.8 billion were processed during November as against AED118.2 billion handled in the same month last year.

Abu Dhabi offers a waiver on duties on industrial imports

The government recently announced that the industrial inputs that are imported into the emirate of Abu Dhabi will now be exempted from the customs duties as of January 15. The Abu Dhabi Department of Economic Development (ADDED) and the General Administration of Customs declared in a media briefing held in the capital about the tax waiver, which is a part of a stimulus package offered by ADDED to the industrial sector of Abu Dhabi. The list of exempted materials included the raw materials, equipment, machinery, and spare parts.

Dubai envisions expanding the Islamic economy to amount to 10% of GDP by 2021

The Dubai Islamic Economy Development Centre (DIEDC) has the vision to enhance the Islamic economy’s contribution to the city’s GDP to almost 10 percent (it was 8.3 percent in 2018) by implementing and using more new and modern technology by the year 2021. This decision comes as a part of a five-year strategy announced by DIEDC in 2017 with an aim to expand three major sectors of the Islamic economy, which includes Sharia-compliant products and services. The approach will be focusing on enhancing knowledge and skills, industry standards, usage of digital technologies especially in the sectors of Islamic finance, halal products, and also Islamic lifestyle like fashion, styling, and tourism.

1 billionth passenger welcomed on the Dubai International Airport

The billionth passenger recently flew from the Dubai International Airport, making it one of the world’s busiest airports. Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum said that they had reached a new milestone are definitely headed towards a brighter future. It was a nine-year-old boy flying in from Orlando, Florida, who was chosen as the honorary billionth passenger. As a part of the celebration, the child and his family were welcomed by the Dubai International’s chairman.

Newsletter, U.A.E

UAE Launched Phase 2 of Tourism Tax Refund Scheme on 16th December

December 26, 2018

UAE’s Federal Tax Authority (FTA) launched the second phase of the Tax Refunds for Tourists Scheme on Sunday, 16th December 2018. The first phase went into effect on November 18, 2018, and it covered major hubs like Dubai, Abu Dhabi, and Sharjah international airports. FTA launched phase 2 with full preparations and expanded the scheme to a total of 12 air, land, and sea ports across GCC country. The scheme entitled eligible tourists to recover value-added tax (VAT) refund claims incurred on their purchases.

Phase two scheme took forward the previous phase by implementing the scheme nationwide. The scheme covers Abu Dhabi, Dubai, and Sharjah international airports. There are inclusions of three airports in phase two that are Al Ain International Airport, Al Maktoum International Airport, and Ras Al Khaimah International Airport.

Furthermore, phase two also covers two sea ports and four land ports. The sea ports include Zayed Port in Abu Dhabi and Port Rashid in Dubai. The land ports include Al Ghuwaifat Border Post in Abu Dhabi, Hili Border Port and Al Madheef Border Crossing in Al Ain, and Dubai’s Hatta Border Exit.

Khalid Ali Al Bustani, FTA director general said: “We have witnessed great turnout among retailers to register for the Tax Refunds for Tourists Scheme and their numbers continue to increase.” He further added that 3,800 tax refund requests are processed under phase one of the scheme on daily basis.

Khalid Ali Al Bustani also said, “The FTA coordinated with the system operator Planet, running all necessary experiments to ensure the scheme is implemented smoothly and accurately.”

Khalid Ali Al Bustani emphasized on the fact that implementation of the scheme shall enhance the appeal of UAE as a tourist destination, improve internal trade and solidify the country’s position as a commercial hub for the region.

Newsletter, U.A.E

Abu Dhabi Launches First Digital Courtroom of the World

December 21, 2018

Abu Dhabi has launched the world’s first digital courtroom on Sunday. Launched by the Abu Dhabi Global Market Courts (ADGM Courts), these courts will revolutionize the way in which court proceedings are carried out. The courts will let the plaintiffs and respondents upload their documents using the online portal of ADGM Courts.

The digital courts shall have the power and authority to handle disputes of civil and commercial nature between parties. Since it is a digital platform, the courtroom will be paperless and use the digital screen to display the relevant documents during the court hearing. The parties shall have access to all the information as both plaintiff and respondent shall upload the necessary document using the online portal of ADGM Courts before the court hearing. Any update or change shall be notified to the party in real time.

Ahmad Al Sayegh, Minister of State and Chairman of the ADGM Courts said “Technology and innovation have been disrupting every aspect of our lives and the judiciary sector is no exception. The best innovations to come out of this sector are those that allow us to creatively manage the growing demand for transparency, information, speed and effectiveness,”

Linda Fitz Alan, registrar and chief executive of ADGM Courts said “We can do the court hearing by video conferencing, not every party has to be present in the courtroom. In fact, everybody can be on a screen if that’s the most efficient way. The judge overseeing the case will be the only person who has to be present inside the digital courtroom during the hearing because we are a public court. For anyone else — the lawyer, plaintiff and respondent — if there’s no particular need for it, they can all be on screen in different places,”

She further added, “We have some rules that determine the steps that need to be taken before coming to court, but essentially once a case is registered it will be brought to the court within 14 days to a month after which the judge will begin managing the case.”

Article, U.A.E

How to Apply for Residency Visa in UAE

August 24, 2018

If you are thinking of moving to UAE then PRO services in Dubai would be of great help. With effect from March 2016, the immigration department of the country has changed the process of applying for a visa in UAE. Thus, to comply with the changes in laws, PRO services assist individuals to get through the process smoothly. In this article, we will talk about the process of getting residency visa in UAE.

How to Get ResidenceVisa in Dubai?

There are two different ways through which an individual can get a residence visa in Dubai. They are;

Process of Getting Resident Visa by Becoming an Employee or an Owner of a Company in UAE

One of the easiest ways of becoming a resident in Dubai is to become an owner of a company. UAE grants resident visa to all nationalities barring exceptions. The procedure to obtain residence visa in Dubai is as follows.

Step 1: Register 100% expatriate owned free zone company in UAE with the help of IMC Group. The process shall take minimum 2 weeks in case of most free zones.

Step 2: After completion of the registration process, IMC Group shall help you in applying for Investor Visa and Company Immigration Card. The process shall take around 2 weeks.

Step 3: The last step involves undergoing various medical tests like x-ray, blood test, etc. to get the visa stamped on the passport for 3 years. The process shall take minimum 5 to 7 days.

After completing of the above process and obtaining the residence visa, IMC Group also helps in getting Family Visa and Employment Visa. An individual/investor having residence visa can lease or buy property in UAE. We also assist employees in getting Employment Visa by signing an Employment Contract with a UAE company.

Process of Getting Resident Visa by Owning Property Worth More than 1 Million in Dubai

An individual of any other nationality (except from the restricted countries by the UAE government) owning the property of more than AED 1 million in Dubai is eligible to obtain 6 months multi-entry visa or 2-year residency visa. However, an individual cannot work under these visas.

There are certain conditions that need to be complied to in order to obtain 6 months multi-entry visa or 2-year residency visa.

Conditions for 6 Months Multi-Entry Visa for Property Owner

An individual should own at least one property in UAE whose value is more than AED 1 million
Only the person whose name appears on the Title Deed can apply for the visa
The property must be handed over
The visa should be renewed in every 6 months

Conditions for 2 Years Visa for Property Owner

An individual should own at least one property in UAE whose value is more than AED 1 million
The property must be habitable
The property must be owned without a mortgage

IMC Group is a leader in providing PRO services and assists you in availing residence visa in Dubai. If you have any query or want further information, you can reach us on our contact number or email us and we will be happy to assist you.

Article, U.A.E

Setting up a Fitness Club in Abu Dhabi

August 22, 2018

UAE has been encouraging many domestic and foreign fitness companies for investing in their market. The statistics say that the UAE fitness industry in 2016 stood at about $380m. Many well-known fitness companies came and set up their business in the UAE; for example, the famous American brand Gold’s Gym and UK-based Fitness First. Recently with more innovation there in this industry, there has been a shift towards more functional training. Therefore, there are ample opportunities in this sector in the UAE.

What entity to choose to set up a fitness club?

You could set up a fitness club in Abu Dhabi as a limited liability company (LLC) in Abu Dhabi, but there are some compulsory requirements that are listed by the Department of Economic Development, which should be met.

Before opening a fitness club, you must obtain an authorization from the following:

The General Authority for Youth and Sports Welfare
The Department of Health
The Emirates Bodybuilding and Weightlifting Committee

There are some other mandates such as the person who is obtaining the license to open a Fitness Club, should be at least 21 years old or more of age. He/she should also submit a copy of a registered tenancy contract and a memorandum of association.

How to get a license in a Free Zone for a gym or health club?

If you are thinking of opening a health club or gym in a Free Zone, then there are a few regulations that you should know. The activities of the health club or gym that are permissible should only strictly limit to:

Physical training or exercising for weight loss/ fitness
Meditative sports like yoga or tai-chi
Various types of massage

What are the gym license activities that are non-permissible?

The gym license activities which are not permissible would include but shall not be limited to the following:

No medical or physiological treatments for diseases like rheumatism etc.
Use of electrical machines for therapy or diagnosis like ultrasound machines etc by untrained or unqualified staff
Patients having infectious diseases not to be allowed entry or exercise and perform any activity in the fitness center
Using the fitness center for staff accommodation is not permitted
Noisy sporting activities and causing disturbance
No women staff to be employed in the men’s health clubs or fitness centers
No men staff to be allowed entry to ladies health clubs/fitness centers

Are there any special conditions for setting up a gym?

Instructors as well as the guests or users of the health club should wear appropriate gym wear.
All the staff should maintain proper personal hygiene.
All staff giving massages in the health club should be qualified from DOHMS.
Weight-loss diets should be only prescribed and also supervised by the qualified nutritionists only.
The gyms or fitness center should be mandatorily equipped with the following:
- Should be located at the ground floor of a building and its premises cannot be used for any other activities than what is stated in the license
- There should be proper lighting and ventilation as per the given standards; for example, the fitness centre must have fans, exhaust fans and outlets that can cater to the whole premises
- The premises cannot be used for storage or for accumulation of the goods
- A fully-furnished office is mandatory for carrying out the administration role. It should be able to manage activity with 30m²
- First-aid box should be always available
- Cleanliness and maintenance of the premises
- Things like anti-bacterial soap, disinfectant and tissue paper should be available
- Proper cleaning area like sinks and drains should be provided (should be as per the guidelines specified)
- Electric insect killing machines should be installed and regular pest control should be done
- Pedal garbage bins with a lid should be provided
- Employees must be dressed in a proper uniform with the company’s name or logo
- A map with the proper location and address of the centre should be provided
- Smoking should not be permitted in the premises and there must be apt signage informing about the same

The fitness or gym trainers will be required to have valid visas and show their competence and needed qualifications and experience in the industry, besides having a valid trade license.

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