How to Open a Fashion Store in Dubai?

Dubai, a thriving metropolis known for its elegance and innovative trends, is a magnet for fashion gurus and entrepreneurs. With a diverse population that has a taste for high-end and unique fashion products, Dubai offers a growing fashion scene ripe with opportunities.

With a population of over 3.5 million people who have ample disposable income and diverse tastes, Dubai is a prime location for fashion stores. According to Euromonitor International, the fashion industry sales in the UAE are projected to reach USD 12.3 billion by 2025.

Are you ready to open a fashion store in Dubai? Read this guide to understand the requirements and steps to make your dream a reality.

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Steps to Start a Fashion Business in Dubai

Starting a fashion business in Dubai is straightforward, but it’s wise to seek help from business experts at Unicorn Global Solutions to navigate the rules and regulations.

 Partner with a Local Sponsor

The fashion industry in Dubai requires business owners to have a local sponsor who owns 51% of the company’s shares. The sponsor can be a person or a business organization based in the UAE. The role of the sponsor can vary based on the agreement.

 Settle on a Trade Name

Decide on a trade name for your store. Ensure the name is unique and relevant to your business. Once chosen, obtain a No Objection Certificate (NOC) and get the name approved.

 Apply for Business Registration and License

Apply for business registration and the specific license required for your fashion store at the Department of Economic Development (DED) or the relevant Dubai Freezone Authority.

 Submission of Documents

You will need to submit the following documents to obtain registration and licenses:

– Memorandum of Association (with local sponsor)

– Articles of Association (with local sponsor)

– Retail space rental/lease agreement

– Application form

– Passport copy

– Visa copy

 Rent a Retail Space

Select a strategic location for your store, ideally close to your target market. Once chosen, pay the necessary fees and secure permissions from the relevant authorities.

 Open a Bank Account for Your Fashion Store

Choose from the many international banks available in Dubai. Submit the required personal and business-related documents to open a bank account.

 Hire Workforce

Recruit a qualified workforce for your store in Dubai. Ensure they can handle sales, customer service, and other operations. Providing training can help improve service quality.

Benefits of Starting a Fashion Store in Dubai

Opening a fashion outlet in Dubai offers several advantages:

 High Disposable Income

Dubai’s residents are known for their high disposable income, which translates into more spending on luxury and high-end brands.

 Strategic Location

Situated at the crossroads of Europe, Asia, and Africa, Dubai is a popular hub for international business, making it easily accessible to the global fashion market.

 Tax-Free Zone

Dubai’s tax-free environment, with no corporate or personal income tax, makes it an attractive destination for business ventures.

Tourism

Dubai attracts a large number of tourists annually. Lavish fashion stores and fashion events draw crowds, providing a significant opportunity for investors.

 21st Century Infrastructure

Dubai boasts supportive infrastructure and premier shopping centers, providing ideal locations for establishing high-end fashion stores.

 Government Initiatives

The Dubai government offers various incentives and grants to support individuals in setting up their businesses in the city.

How Unicorn Global Solutions can Assist

Dubai’s fashion-forward mindset and superb clientele present an excellent opportunity for entrepreneurs to establish their fashion outlets. As a businessperson, it’s crucial to conduct thorough research and understand the legalities involved in setting up a successful fashion store.

While you focus on delivering the best products and services to your clients, experts from Unicorn Global Solutions can handle the legalities of starting your business in Dubai. Contact us to book a free consultation with our consultants and take the first step toward launching your fashion store in Dubai.Text us on WhatsApp or call us today.

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