Global pandemics resulted in a gloomy 2020 for many people around the world. Lock-downs throughout the country forced people to retreat to their homes for months. However, the light at the end of the tunnel is that people began to rediscover their hobbies and old desires. For example, many amateur bakers have improved their skills during locking and are now interested in the formation of offshore companies. Dubai is a paradise for large and small businesses, thanks to many tax incentives, the best infrastructure, skilled workers, and business-friendly laws. So, if you are a baker who looks forward to the set up an offshore company in Dubai, you have come to the right place. Read on to learn more!
Why is Dubai the Best Place to Start a Small Business in Covid-19 Pandemic?
This is a well-known fact that Pandemic Covid-19 has a detrimental effect on investment and business in dubai growth throughout the world. However, because most countries continue to ramble by fighting the results of the pandemic, the UAE government has succeeded in opening the way for the establishment of easy offshore companies. Below are some reasons why Dubai is the best place to set up your baking business:
The UAE government has introduced various steps to help small business owners. For example, suppose you are worried about the cost of offshore Dubai companies. In this case, you don’t need to worry. You will immediately benefit from fees, online company registration steps, soft payment structures in monthly instalments, and other criteria.
Advantages Given by Banks and Other Financial Institutions
The bank has also introduced loan repayment holidays and relief costs to help small businesses start to follow the Covid-19 pandemic. In addition, prominent financial institutions such as Dubai’s international financial centre, the global market of Abu Dhabi, etc., is depressed start-up financing.
Better Tax Incentives
However, understanding everything on your own, especially if you are new to Dubai can be a bit of challenge. In such instances, your best course of action should be to work with the best uae law firms. They will be able to guide you, do the paperwork and help you get the incentives for your business.
Dubai is home to foreign nationals from around the world, most of which like to pamper themselves with well-made elegances. Thus, small business owners such as bakers can significantly benefit from the features mentioned above.
Basic Steps of Starting a Bakery Business in Dubai
Like other businesses, there are special steps that need to be remembered when opening a business in Dubai. From creating a full evidence business plan to deciding on the type of goods to be sold, here are steps to set up the offshore company in Dubai.
Make a Business Plan
First and foremost, a baker or someone who hopes to start a baking company must come with a plan. The determinants of a good business plan include the type of goods, service area accessibility, management team experience, etc. Investors will consider the characteristics that set your business other than others before pouring their time and resources to be the same. For example, wedding catering is completely different from the commercial working with distributors in the nearest area.
Come Up with a Business Model and Structure
Bakery’s business structure can be the only establishment where expatriates can fully have a company. You can also start your bakery as a civilian company, which offers two or more expatriates and local sponsors in the form of UAE nationals. Finally, the bakery can also function as a limited liability company where UAE and EX-PAT residents will each have 51% of the shares and 49% of the shares.
Select Your Business Niche
Before doing any business assignments, you need to determine your skills in baking, the cost of offshore Dubai companies, and destinations. You can also look at the local market to get some perspectives about this problem. For example, you might know that people constantly pour their money into a superior bakery in creating cupcakes, wedding cakes, birthday cakes, and so on. If your goods are quality higher, you can charge premium costs.
Choose Your Business Name and Location
The business name of your bakery must be in such a way that it grasps people’s attention instantly. Choosing a business name in Dubai holds great importance because you also have to ensure that it does not conflict with the law of naming in the UAE. For example, you cannot use blasphemous words; Refer to popular organizations, etc.
Your business location is very important and will directly play a role in the amount of profit you will receive. You can take your choice of suburban environments, industrial districts, shopping plazas, and so on. Other business models that get traction in 2021 sell products through shipping services through websites.
How to Get a Bakery License in Dubai?
The license of a bakery is an important aspect of the formation of offshore companies in Dubai. In addition, the bakery must be following the “food code” local, an initiative by the Dubai Municipality Food Control Department to guarantee the application of safety requirements. If you want to get your license, you must provide the following information:
- Interior design layout for all business places
- Highlight all the entry points and out of your business
- Room for processing food
- Space for storing food
- Windows and ventilation systems
- The location of food equipment pieces to be used to process food
- Dishwasher and other equipment
- The kitchen area must be at least 250sqft or 40% of the total, which is wider.
- Walls, floors, and ceilings must be washed, not absorbed, fireproof, brightly colored, smooth, non-toxic, and without cracks. The base must fade adequately for a drainage intersection.
- Double-sink washing facilities with hot/cold water.