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A striking variation and growth rate has been observed in online shopping, post-pandemic. The study conducted by Mastercard reveals the growth in online shopping depicting 73% more consumers of the UAE purchasing online than they ever did before. The study also projected a shift from cash payment to digital payment by the consumers. As per the report by EZDubai, it can be interpreted that the e-commerce sector of the UAE is continuously rising since 2021.
The e-commerce market is expected to reach $8 billion by 2025 from $5 billion in 2021.
The internet penetration is 105.5% in the UAE and with a GDP – per capita of more than $40,000, there is a strong possibility of an online shopping uptrend.
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It’s simple if you know the procedure, let’s have a glance:
Study the market trend:
Before starting with the venture, it is important that you study and analyse the market trend. Select the type of business format that is acceptable in the market and also feasible for you. You can select one out of the B2B (Business to Business), C2B (Client to Business) and B2C (Business to client) models.
Select the Company name:
Everything can only be started after the finalization and approval of the company’s name. You can obtain a license from the concerned authority and begin happily on the road to success. There are certain rules which have to be followed while selecting a name. Abbreviation of your name, name representing religious, foul, controversial or copy of another company is not tolerated. Check the list of rules to be followed or your business consultant can guide you.
A suitable location is a good start:
Location does play an important role in setting up an e-commerce business in Dubai. A freezone and the mainland are two locations that are approached by the business owners. You can have a physical office or virtual office depending on the business structure and services to offer. You can check which authorities to proceed with further. Every location has something unique and there are ample benefits like 100% ownership, no corporate tax, 100 % repatriation on gains and capital and so on.
Begin with an E-commerce license:
Once the initial activities are done you can apply for the e-commerce license.
The Department of Economic Development (DED) is the governing authority to issue the e-commerce license in the mainland, the UAE. For respective free zones, you have to abide by their rules and regulations.
Is your e-commerce website ready?
You need to have a fully functional website for calling out the customers and retaining them. A simple and presentable website is the call of an hour. You can get your website developed by agencies that provide such services without getting baffled. WooCommerce is a popular plugin of WordPress used for this purpose. There are plenty of options available. You can select the one which suits you. If you have a team of developers on the board, you can get the job done by them.
Payment Gateway
An appropriate payment gateway can sort out your daily transactions. In every country, there are some payment gateways that work seamlessly and are functional. You’ll have to check which one is the most popular choice in Dubai. Here is a list of a few:
After all the basic requirements you are ready to go.
Important criteria to be kept in mind:
- You have to be above 21years of age
- Complete the payment within 24hrs after submitting the registration form
- Must have a valid Emirate id
- Approved company name
- Completed registration process
- Renewal of the license as per the given time frame (generally it is on an annual basis).
If you are done with the above listings then you only have to submit the required documents which are more or less the same as required for business setup in Dubai UAE
This blog intends to keep you updated with the latest practices and regimes. We are a reputed firm with experts on board, who can guide you and be your torchbearer. We will be happy to solve your query by phone and mail. We also have an expert, available on chat to provide you with basic answers. Visit our site for more details or inquiries.
