Starting an ecommerce site in Dubai? 3 Important Things to Remember
The internet is making the world a much smaller place, with tons of room to make lots of eCommerce websites in practically any country. Now you can set up an online shop pretty much anywhere in the world and gain your notoriety, fortune and fame from much further away, and much more effectively than ever before. The online marketplace is the place to make money in today’s technological era: it’s much cheaper than buying local and the options are endless! There are some things you need to know if you would like to setup your Ecommerce website in Dubai:
- You must have a good knowledge of the UAE laws, mainly Dubai laws, and be prepared to do extensive researching into your particular building sector that you’re aiming for. You need to have a viable business plan, market forecast conditions, as well as being ready and able to find your resources, either through your bank or locally but with credibility. A local plan can lead to a potential government support. Often, many law firms will help you find out everything you need to know in most situations.
- The law in Dubai requires having a local partner to hold at least 51% of shares. The partner doesn’t have to contribute start-up investments or even participate financially at all, all you have to do is cover remunerations. As an alternative, there are multiple freezones in Dubai where you can open your own company by yourself without any sponsorship by a local.
- Nowadays, it is easier to get a Payment Gateway Provider in the UAE but we recommend you to stay away from most of them. They will overcharge you or they will simply take 1-2 months just to approve your account, if you are lucky. As an alternative, we recommend 2Checkout, a US based payment processor and setting up an account with them is very simple. 2Checkout charges between 3.9 – 5.5% per transaction, plus a small fixed fee, and they do accept AED as the currency. No monthly or yearly fees, which is not a common practice in most payment gateway providers in the UAE.
Don’t let the warnings get you down, though, you can’t make an omelet without cracking a few eggs first, anyways. What a great opportunity to make money, and open up your business options! Take the incentive and step out into the world and see how much more you make expanding your business! You have to be prepared for everything to really get involved in business anyways, and the risks are well worth the investment. If you’re particularly worried, find an investment lawyer to look into your options; find a good web design company and start making your Ecommerce platform in Dubai or Abu Dhabi today!