Setting Foot in the UAE? Here’s My Checklist–Just for You
Kavita Saxena
Founder and CEO of DigiSparsh, Cur8digital, and ROI-India | Seasoned Entrepreneur with Nearly 2 Decades of Experience Across Asia and the Middle East | Frontrunner in Digital Marketing | Design and Development Enthusiast
In my previous posts, I have discussed why the UAE is a dream destination for Indian entrepreneurs, one of the major attractions being its low-tax ecosystem. As of 2024, the UAE’s robust $545 billion economy positions it as a premier global hub for business expansion. (Source: IMF)
Chances are, if you’re reading this, you’re already strategizing your entry into the UAE market. But before you dive in, here’s a quick checklist to ensure you’re fully equipped for success in the dynamic landscape of the UAE.
Let’s begin!
1. The Basics
? Why the UAE?
Businesses move to the UAE for many reasons. What draws you to the UAE–low tax burden, tech infrastructure, or skilled labor? Do you plan to tap into the booming local market or leverage the UAE to enter other international markets? In my experience, pinning down the specific reasons driving your UAE expansion is always the best place to start!
? How Will You Finance Your UAE Dream?
Expanding into a new country often means making upfront investments and setting aside sufficient working capital. Therefore, it’s a good idea to explore the UAE’s funding landscape to capitalize on opportunities such as grants, interest-free government funding, and low-interest debt capital from banks. For startups and SMEs, a vast range of opportunities awaits through avenues like angel investments, venture capital (VC) funding, and accelerator programs.
? How Will You Manage the Staffing?
For startups and SMEs, relocating the whole team isn’t always feasible. Will you relocate a few key employees from India and manage the rest by recruiting local talent? Or will you be largely relying on a remote setup for your staffing needs? Each approach comes with its own set of advantages and disadvantages.
2. The UAE Market
? What Market Gaps Do You Intend to Fulfill?
Success in the UAE requires understanding the market's pulse. An in-depth study of local demands, consumer preferences, and competition will help you identify gaps in your niche and craft a winning formula to address that gap with your products and services.
? When and Where Will You Enter the UAE Market?
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Timing and location matter just as much. With a detailed assessment of market trends and your own readiness to take the plunge, you can easily pinpoint the right moment to launch. Additionally, with over 40 specialized free zones in the UAE, you can choose the location that best fits your business needs.
3. Cultural and Legal Considerations
? How Well Do You Know the UAE’s Culture?
The culture of the UAE is diverse and rich. It’s always wise to get familiar with the local customs and traditions of the city where you wish to set up your office. This will help you connect better with the locals, giving you a competitive edge.
? Do You Have a Compliance Checklist?
From registering your venture and securing the necessary permits to understanding labor laws, there are several legal and compliance requirements to be checked off the list.?
Handling it all on your own might cause burnout.
My suggestion? It’s best to seek guidance from an experienced team of professionals. My business, R.O.I Management Consultancy, has handheld numerous clients through this process–and you can be next! My team and I provide a customized, step-by-step plan for businesses looking to set up their new office in the UAE.
So, are you planning to make your UAE move anytime soon? Let me know in the comments section below!
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