Latest reports indicate that the fashion sector is booming in Dubai with a gross market value of $12.3 billion. It is a great time to invest in setting up a fashion business in the Emirate.
Steps for Setup your Fashion Store in Dubai
The DED (Department of Economic Development) is the key authority tracking various aspects related to incorporation of businesses in the UAE. Here are some of the steps that you should keep in mind:
- Fill up the application form for incorporating your business.
- Submit copies of your visa and passport.
- Draft the Memorandum and also the Articles of Association in tandem with your local partner.
- Choose a suitable business location.
- If you are operating as a wholesaler, opt for a business center.
- Post submission of necessary documents, you will have to pay the license fee as well.
- Post approval, you can collect your business license.
- Once this is garnered, you can go ahead with operations for your business.
- Hire suitable employees and then open your corporate bank account.
The legal permits obtained after this process will help you in dealing with retail or local garment distribution in Dubai along with imports and exports.
Key Advantages of Setting up a Fashion Store in Dubai
- Full tax exemptions.
- Multiple options for locations.
- Global gateway to vast markets and opportunities.
- Zero restrictions on currency.
- Flexibility for recruiting global workforce.
Also Consider for Open Fashion Store in Dubai
Dubai has a thriving fashion industry with the Emirate boasting of a cosmopolitan and global population across 200+ nationalities. Naturally, there is huge demand for fashion stores operating across multiple segments and categories in the market. Dubai is also a huge destination for tourism, drawing millions of visitors annually and this naturally enhances scope of your business.
Dubai offers varied options in terms of locations for establishing your fashion store. There are various choices including Free Zones, Mainland and Offshore. Dubai offers a simple process of establishing and registering businesses and the whole procedure behind business incorporation is quite simple. GCC Filings is your best option for business incorporation and all assistance related to VAT registration in UAE, VAT return filing, auditing, accounting and a whole host of other services.