Growing Opportunities In Different Business Sectors Of Dubai Dubai is the business center of entire Middle East and one of the fastest growing economies. Dubai's economic strength is based on the thriving small businesses in the city. The main revenue comes from the oil industries, but the city is now diversifying to others sectors like travel and tourism, real estate, aviation, financial services, and infrastructure projects. Top four reasons to invest in Dubai Dubai as a Business Hub- Dubai has attracted a huge number of investors and business dealers due to its developed economy and support offered by the government to start small business or industry. Not just the citizens of Dubai but also foreigners can invest in these business opportunities. The Foreign business provides a major increase in the economy. Shopping center- Dubai is known as the "shopping center of UAE". The majority of the visitors get attracted to Dubai for shopping as they can buy articles at a much reasonable rate. It has more than 60 shopping centers and has one of the largest shopping malls in the world. The government of UAE helps and supports the establishment of businesses thus, starting a business in Dubai is a very easy and convenient task. The government also encourages the investors and grants incentives for starting a new business. The business laws in Dubai are in favor of the investors and provide them with a tax-free environment. Given below is an elaborated list of businesses in Dubai. 1. Travel and Tourism Tourism is one of the booming sectors in the economy of Dubai. Dubai, being the shopping capital, attracts a large number of tourists. Dubai has many tourist attractions and five-star hotels that cater to up to 50 million tourists. Dubai is the major hub for importing as well exporting of flowers. There are many flower shops in Dubai that attract tourist from all over the world and for more info please click here offshore company formation in dubai 2. Infrastructure and Construction Dubai has recently developed large construction projects. The city is known for its high-rise buildings and skyscrapers. Burj Khalifa, the world's tallest building, is situated in Dubai. The property market is immensely growing, and real estate is now one of the biggest sectors in Dubai. After Oil and Gas industry, Dubai is known for skyscrapers. Everyday new structure and buildings are being erected. This has led to the growth of new opportunities for professional builders and engineers, and they are now investing in the construction sector. 3. Energy sector Dubai is formerly known as the core of Energy sector. The competition in the energy business sector is huge; still the opportunity for investment is available to maintain the various generations' facilities for energy In Dubai, you are given plenty of opportunities; you get benefits of best economy based on strong administrative foundations. Authorities of Dubai have divided the city in different economic jurisdictions. You can start different types of businesses in Dubai bases on type of business and location; types are divided in three main categories which are Mainland, Free Zones and Offshore. Another thing to remember is that Dubai welcomes foreign investment but there are rules and regulations that must be followed. In order for you to enter in Dubai, UAE you need to have sponsor, a sponsor will take your responsibility. Importance of a sponsor can be determined by the fact that for any purpose if it is business or you are just visiting you must have a sponsor. When it comes to start a business in Dubai you are require having a sponsor, any kind of business needs a sponsor or service agent. In mainland a local resident or a of United Arab Emirates based company act as a sponsor, for professional service you need service agent as sponsor and for setting up a free zone business you also need a sponsor, in this case free zone acts as your sponsor. Business setup in Dubai mainland requires you to have a valid license issued by the administrative authority. The name of the authority is Dubai Economic Development (DED); it is a government agency responsible for issuing the business licenses. Renewal of the license, cancellation and upgradation are also handled by Dubai Economic Development (DED). To ease the investors Dubai Economic Development (DED) operates for different localities, thought scrutiny process of the application is strict but department ensures the quick application processing. In Dubai mainland, Dubai Economic Development (DED) issues four types of licenses, commercial, professional service, Branch office and industrial license. To setup your business in Dubai mainland under commercial license you are by law mandated to have the help from local UAE resident which is also called local sponsor. Local sponsor is by law hold the 51% shares of your business and you will hold only 49% of shares. However you are given full administrative rights. You can draw contracts with local sponsor and allocate a yearly fee for being a sponsor. Local sponsor sometimes work as silent partners. Local sponsor can be an individual or it can be a UAE based company or group. However, if you are setting up a business which involve professional services you don't need to have a local sponsor, in that case you only need a service agent. Service agent works on your behalf and helps you deal with the local administrative authorities to start your business. You are allowed to hold 100% of your professional business and service agent will only be paid once for the service he offered. Free zones are special economic zones in Dubai which are specially designed to attract the foreign investment. Free zone based business are fully owned by the investor and there are plenty of options to choose with. Every free zone in Dubai has a governing authority or free zone authority. For business setup in Dubai you would need deal with the free zone authority. You may be asked by the authority to provide different legal documents before you finally give the go ahead in form of license by that authority. Free zone offers different attractive options for foreign investors such as you are given 100% of ownership of your business. There are many options free of tax you can avail like no personal income tax, corporate tax exemptions. There are different types of business setup options in Dubai free zones like you can start of your business enterprise as a limited liability company or service provider organizations, there are different licensing options. Business setups in free zones are allowed to perform international trades. When time comes you can easily wind your business. There is less paper work involved when it comes to end your business from a free zone.