How To Start A Textile Business In Dubai?

For a number of business people, Dubai is developing into a major business destination. The textile industry in Dubai has contributed specifically to large-scale employment opportunities and it is renowned as one of the fastest-growing industries in the UAE. You need to consult with a well-developed business consultant company in order to know how to start a textile business setup in Dubai if you are an entrepreneur. A well-established consultant company will suggest the right path, provide you with guidance on every step and make it easy and successful. Some important factors to keep in mind for the textile business establishment are given below:

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• The textile field is rapidly shooting up in Dubai, it is a flourishing industry and is highly beneficial.
• By permitting the textile company to differentiate from an oil-based economy into a non-oil diversified economy, it has played an active role in setting up the economy of the country.
• Massive employment possibilities for the masses have been built up due to the establishment of textile companies.
• You can choose a business establishment in its manufacturing department, if you are a business person who is interested in or specializing in the textile industry.

Process Of Textile Business Setup In Dubai

1. Decide Your Trade Name:- A name that directly presents the connection of your services or products, an attractive name must be chosen for your company. Complying with the rules and regulations of a trading name specified by the government of the United Arab Emirates is very important. Not utilizing any controversial word in your business name is a very essential rule. Using a religious name is strictly prohibited. First of all, you must ensure to utilize the full name, as specified in your passport, in case you decide to hold your company after the name of an individual. You need to register it in a legal manner, when you decide the name of your business.
2. Choose a Suitable Location:- You must choose a location where you can entice the right public that does not assist you to capture the market right from the. It would backfire if you select a location where your objective public can’t locate your warehouse or shop easily. You must make sure that the location you have selected fulfills all your needs for your business. Remember to register it with the DLD once you decide on the location.
3. Choose the Structure of your business:-
   A special structure or framework has to be chosen by each business for its company. How you wish to conduct your business and its legal unit, depending on this your next move will be carried out. It would help you ahead by pointing out the right and necessary legal structure.
   With a single stakeholder or many partners, you can establish your textile business as a Limited Liability Company. You no longer need a local sponsor with the application of rules about overseas ownership. In Dubai you can be 100% proprietor of your business
4. Submit Documents for Initial Approval:-You need to present all the required documents to the relevant legal department and authorities, once you have decided on the legal framework of your business. You would receive the initial approval for establishing a textile business in Dubai, only when they would inspect all the paperwork and if all looks well. You can obtain your business license to run your business activity in a legal manner after completing all the procedures.
5. Obtain Your Business License:-The last step in order to set up your textile business in Dubai is getting a business license for your textile business. The Dubai DED would issue your trade license, once your license application and all the documents are sanctioned by the respective authorities. In order to issue trade licenses, the only agency hired by the government of the UAE is the Department of Economic Development.

Documents Required For Textile Business Setup In UAE:

The essential documents required for textile business setup are as follows:

• The owners and stakeholder’s passport and visa copies.
• Each and every stakeholder’s personal ID card.
• Proof of trade name reservation
• Proof of initial approval
• Article and Memorandum of Association
• Contract of Lease.
• Paid-up capital

Benefits Of Textile Business Setup In Dubai

Benefits of textile business setup in Dubai are as follows:

1. Mass population:- Dubai is renowned as the hotbed for international or national tourists. In order to target various markets and grow the business turnover Dubai serves as an advantage for the business people. For overseas expatriates of over 200 nationalities with varying tastes, Dubai is considered as a home for it.
2. Tax Benefit:- Business people feel relaxed when it comes to tax payment by setting up their business in Dubai as Dubai provides full tax exemption. A VAT action that requires to be borne by the business units and is fixed at 5%, this is currently fixed by the government. Many tax advantages can please you by setting up a textile business in Dubai.
3. Full Repatriation:- We have noticed that very often business people get stressed about the fact that after the company’s liquidation they will have to pay taxes and extra charges. In Dubai a businessman can withdraw
   With the complete profit earned and capital invested, Dubai permits the flexibility to run the required procedure with ease.

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