After the pandemic, we humans are forced to take a U-turn towards our livelihood. We have now immersed ourselves by indulging in the new normal which is A.K.A social distancing. This pandemic has forced us to make ways that work differently than they used to be but, it also taught us that due to the technological advancements we are not left behind in any stance. But, it’s just we have to take a different path to make the work done.
This change has also affected the traditional on-site jobs which are now flipped upside down with the new shenanigan that is work-from-home. Working from the comfort of your home is now a thing that is seen worldwide. Not only that but, now even businesses can be run be from your bedroom it’s just you need to have a stable internet connection and of course, capital to make that work.
If you are an ex-pat or a resident of the UAE, you need to have some paperwork done before plunging into the world of online business, and we through this blog will going to give you ten essential steps which will be going to help you start an online business in the heart of skyscraper and the land of desert.
1. Choosing the jurisdiction of your company
There are two options available for you Mainland or Free zone. It’s your wish where you want to set up your business according to its nature. If you opt for a Free Zone license then you have to partner with a distributor in the UAE.
Whereas, if you opt for Mainland it gives you total freedom to sell your products directly without hindrance to the local market. It’s basically offshore, the companies which are associated on the mainland are licensed by the department of economic development.
2. Registering your business name
Registering a name will give an identity to your business. There are a set of rules which needs to have adhered to while choosing a name. It should be abided by keeping in mind the UAE’s law and other components. After you have picked a name then the next step is to check the availability of that name and after that third step is to obtain a license. For instance; genuineessay.co.uk is a registered business name and no one locally or internally is permitted to take this.
3. Initial approval certification
After the registration of your business name, comes the step of acquiring initial approval certification from the authorities. This is needed to commence your e-commerce business, you simply need a NOC, in order to get going ahead.
4. Obtaining license
The most important step is to obtain an online business license for your venture, in this, you have to basically ask for a permit that will allow you to work in the UAE on the digital platform. There are a number of licenses in the UAE, pick the one which suits your business activity;
• E-trader license
• Virtual company license
• Portal license
5. Obtaining a memorandum of association
If you are doing business with a sponsor or a partner you need to write a Memorandum of Association and submit that to the Department of Economic Development. This step is needed if your business falls under Mainland jurisdiction.
6. Visa application
The good thing is that you don’t need to be present in the UAE while running your online business. But, you should have a legal UAE address of your business, as it’s a UAE permit requirement, and that has to be fulfilled. If you wish to be in UAE through this permit you can have 3 years visa also you can sponsor your family members and your employees too.
7. Opening a business bank account
You have to open a corporate bank account in any international or local bank in the UAE. Through this account, all your transactions and dealings will be done and documented. You should choose a bank which offers the best services.
8. Hosting a website
The main thing through which you will earn and serve potential customers is through a website. As being an online business this is one of the most needed and important steps to set up your virtual presence among the people. This is the medium through which you will sell, earn a profit, and gets recognition. Ideally, it’s best to register a domain that is the same as your business name like dissertation help uk should have a website somewhat dissertation help.ae or if taking the 1st one then disserationhelpuae.com.
9. Finalizing payment options
How you will going earn? In AED, US Dollars, or in some other currency. If your business is targeting only UAE residents and cater to this geographic location only then having AED and even cash on delivery (COD) is a nice option. However, if you are targeting internationally then as always the option of USD or even GBP is a great choice but, providing COD internationally will not work. Virtual money like PayPal and even accepting Bitcoins is now widely getting a symbol and a reliable mode of payment.
10. Shipping providers
Shipping plays a significant role in making or breaking your company’s reputation. You need to have a reliable channel through which you can transport your products to the customers. Be it locally in the UAE or internally, you have to be vigilant while choosing this option.
There are many channels available for shipping in the UAE;
- Naqel Express
- SMSA Express
To sum up
Digitalization and e-commerce have infested the roots deep into us including the business stream too, and this transition has become strong after the pandemic strikes us, humans. UAE has a very straightforward process to run an online business. It is explained in ten essential steps by us in detail which will make you understand even the minute element. In accordance with the UAE government and its economic department 1st, the person needs to pick the jurisdiction which will determine their business operation in the geographic location which he chooses. After that, the following steps will be easy for you to follow.