Open a company in Dubai
#1
Just Joined
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Joined: Jun 2011
Posts: 3
Open a company in Dubai
Hi guys,
I am checking the best option to open a company to rent a kiosk in a mall (IBN Battuta) to sell some imported products. I think that to retail I need to open an LLC with a local sponsor (no freezone allowed, but from the other side I think that IBN Battuta is an exception?).
The problem is that the cost they are asking me is around 70K-80K AED just to open the LLC, and the business I don't think that it will be so profitable to get back this investment in a short term. Do you know any company that can help me with this and/or can you give me some information about the process?
I have also heart something about a Local License just valid in the mall, but to get clear information here is a nightmare
Thanks!
I am checking the best option to open a company to rent a kiosk in a mall (IBN Battuta) to sell some imported products. I think that to retail I need to open an LLC with a local sponsor (no freezone allowed, but from the other side I think that IBN Battuta is an exception?).
The problem is that the cost they are asking me is around 70K-80K AED just to open the LLC, and the business I don't think that it will be so profitable to get back this investment in a short term. Do you know any company that can help me with this and/or can you give me some information about the process?
I have also heart something about a Local License just valid in the mall, but to get clear information here is a nightmare
Thanks!
#2
Re: Open a company in Dubai
do a search on LInks on google, not sure if they will be able to help or not but I have friend who have visa's via them. You will need alot of cash, and IBN is a poor location to retail.
#3
Re: Open a company in Dubai
Nandito,
I would avoid Ibn batutta- its a dieing mall with low footfall. Retailing in Dubai is horrendous due to high rental prices, I would seriously question the validity of opening one store here and certainly in a mall such as Ibn Battuta. May I ask what your product is and if his would be a one off independent retail outlet or do you already have stores elsewhere?
I would avoid Ibn batutta- its a dieing mall with low footfall. Retailing in Dubai is horrendous due to high rental prices, I would seriously question the validity of opening one store here and certainly in a mall such as Ibn Battuta. May I ask what your product is and if his would be a one off independent retail outlet or do you already have stores elsewhere?
#4
Just Joined
Thread Starter
Joined: Jun 2011
Posts: 3
Re: Open a company in Dubai
Thanks for the reply guys!
I know that the rentals are high, and maybe it does not work, but this is something that I want to try for long time back.
I have selected the IBN Battuta mall because the rentals are cheaper, and I have analyze some of the business that are there and seems that they are selling quite ok in comparison with the rental price. We also have quite good margin on the products. We are importing accessories hand made from the Philippines. It is an independent retail outlet, no more stores.
The problem I see is to set up all the process, that the cost are getting crazy. Just to create the LLC with 2 residence visas I have calculated 90K AED! Crazy...
I have been investigating and looks like we can operate with a JAFZA license, but I need to check...
Any help will be more than welcome, I will contact these guys from links, I already have the phone. Thanks!!
I know that the rentals are high, and maybe it does not work, but this is something that I want to try for long time back.
I have selected the IBN Battuta mall because the rentals are cheaper, and I have analyze some of the business that are there and seems that they are selling quite ok in comparison with the rental price. We also have quite good margin on the products. We are importing accessories hand made from the Philippines. It is an independent retail outlet, no more stores.
The problem I see is to set up all the process, that the cost are getting crazy. Just to create the LLC with 2 residence visas I have calculated 90K AED! Crazy...
I have been investigating and looks like we can operate with a JAFZA license, but I need to check...
Any help will be more than welcome, I will contact these guys from links, I already have the phone. Thanks!!
Last edited by nandito; Jun 24th 2011 at 6:00 pm.
#5
Re: Open a company in Dubai
Hi Nandito,
Well good luck, I would play it very cautiously before investing your own money though. There are a few jewelery retailers there all ready so you'd need either a unique sellling point or great prices.
One of my friends in the UK has a small jewelery business- she started selling at Spitalfields market in london and now has a lot of stockists which is her main income- yes she has to sell at a wholesale price but the volume is much better than what she can sell on her own in one location. Have you considered selling wholesale to any of the retailers here or getting an agent?
Get a facebook page started and a website start promoting your product whilst you look for the best way to sell your product.
I havent seen any pop up stores here which is a shame as this would be perfect for a business such as yours.
All the best
Well good luck, I would play it very cautiously before investing your own money though. There are a few jewelery retailers there all ready so you'd need either a unique sellling point or great prices.
One of my friends in the UK has a small jewelery business- she started selling at Spitalfields market in london and now has a lot of stockists which is her main income- yes she has to sell at a wholesale price but the volume is much better than what she can sell on her own in one location. Have you considered selling wholesale to any of the retailers here or getting an agent?
Get a facebook page started and a website start promoting your product whilst you look for the best way to sell your product.
I havent seen any pop up stores here which is a shame as this would be perfect for a business such as yours.
All the best
#6
Just Joined
Thread Starter
Joined: Jun 2011
Posts: 3
Re: Open a company in Dubai
Hi Nandito,
Well good luck, I would play it very cautiously before investing your own money though. There are a few jewelery retailers there all ready so you'd need either a unique sellling point or great prices.
One of my friends in the UK has a small jewelery business- she started selling at Spitalfields market in london and now has a lot of stockists which is her main income- yes she has to sell at a wholesale price but the volume is much better than what she can sell on her own in one location. Have you considered selling wholesale to any of the retailers here or getting an agent?
Get a facebook page started and a website start promoting your product whilst you look for the best way to sell your product.
I havent seen any pop up stores here which is a shame as this would be perfect for a business such as yours.
All the best
Well good luck, I would play it very cautiously before investing your own money though. There are a few jewelery retailers there all ready so you'd need either a unique sellling point or great prices.
One of my friends in the UK has a small jewelery business- she started selling at Spitalfields market in london and now has a lot of stockists which is her main income- yes she has to sell at a wholesale price but the volume is much better than what she can sell on her own in one location. Have you considered selling wholesale to any of the retailers here or getting an agent?
Get a facebook page started and a website start promoting your product whilst you look for the best way to sell your product.
I havent seen any pop up stores here which is a shame as this would be perfect for a business such as yours.
All the best
The problem is that I don't understand how can be so difficult to do all the paperwork and have a clear idea about how to set up a company in this country. I was investigating and looks like with the store itself I cannot issue visas and I need to rent also an office. Crazy...
Thanks for the help!
#7
Re: Open a company in Dubai
Thanks! Let's see how it goes, I will keep you posted. I think that the product is really nice, but of course we need to sell it.
The problem is that I don't understand how can be so difficult to do all the paperwork and have a clear idea about how to set up a company in this country. I was investigating and looks like with the store itself I cannot issue visas and I need to rent also an office. Crazy...
Thanks for the help!
The problem is that I don't understand how can be so difficult to do all the paperwork and have a clear idea about how to set up a company in this country. I was investigating and looks like with the store itself I cannot issue visas and I need to rent also an office. Crazy...
Thanks for the help!