Dubai is one of the most popular destinations for tourists worldwide. The UAE stands out among Middle Eastern countries for its cutting-edge technology and exceptional travel experiences. The UAE has become a top tourist destination in recent years, with Dubai leading the way. From the Burj Khalifa to Dubai Parks & Resorts and Ferrari World, the UAE government continuously works on projects to enhance its tourism sector. Unsurprisingly, Dubai is becoming a hub for tourists and entrepreneurs looking to establish their businesses.
Why Choose Dubai?
Data shows that over 15 million tourists visit Dubai each year for leisure or business. Official projections estimate that by 2027, tourism will contribute AED 116 billion to the UAE's GDP—accounting for 5.4%—and will directly or indirectly support over 750,000 jobs. These figures present a significant opportunity for business enthusiasts to establish a thriving travel company in the UAE. Additionally, the country attracts entrepreneurs with its prime locations, excellent infrastructure, strong government support, and simplified visa requirements.
Post-Pandemic Boost in the Travel Industry
The COVID-19 pandemic severely impacted nearly all industries, including tourism, which was one of the hardest hit. However, as the saying goes, "There is always light at the end of the tunnel." The tourism industry experienced an unexpected boom post-pandemic, and it continues to grow, presenting a ripe opportunity for those looking to enter the tourism business.
Advantages of Setting Up a Tourism Business in the UAE
The UAE offers numerous opportunities for starting a tourism business. Notably, the UAE government now allows foreign nationals to start a business with 100% ownership. Previously, foreign nationals wishing to open a tourism company in the UAE were required to have a UAE national as a 51% shareholder. However, this requirement has been removed, enabling foreign nationals to establish a tour operator company in Dubai without needing a UAE partner. Nevertheless, foreign nationals must still appoint a UAE national as an agent to manage sponsorship arrangements.
Advantages:
- Growth in the Travel Sector
Dubai is the premier tourist hub of the Middle East, attracting millions with its rich culture, towering skyscrapers, luxurious lifestyle, and world-class amusement parks.
- Simplified Documentation Requirements
To attract businesses, the UAE government has streamlined the documentation process, making it easier than ever to start a venture in this beautiful country.
- Prime Locations
Dubai’s strategic locations give travel businesses a significant edge, connecting travelers to destinations around the world.
- Free Zones
Dubai offers numerous free zones that present various business opportunities, including lower taxes, 100% ownership, and a simplified visa process.
How to Proceed With Setting Up a Tourism Company
To start a travel agency in the UAE, you’ll need to complete several steps, including adhering to rules and regulations. Here are a few key pointers to guide you through the process:
- Pick a Company Name:
Your company name is your first impression, so think creatively. It should be catchy and professional. While terms like "Global" and "International" can be appealing, there are specific rules for their use. Additionally, religious terms, including God's name, cannot be used in any language.
- Apply for the License:
Each country has its own set of rules for startups, and Dubai is no exception. However, as mentioned, the UAE government has simplified the licensing process, allowing businesses to start with ease.
- Open a Corporate Bank Account:
Opening a corporate bank account is essential for smooth transactions and building trust. It’s crucial to choose a reputable bank, as a poor choice could harm your business’s reputation.
Required Documents for a Travel & Tourism Company
To set up a travel company in the UAE, you will need several key documents, including:
- Business License
- Passports & Photographs
- Office Space
- Approval from the Department of Tourism and Commerce Marketing (if applicable)
How Markai Corporate Services Can Help
Partnering with corporate service providers is important, especially in a competitive environment where setting up a business involves extensive documentation and legal procedures. Markai Corporate Services plays a crucial role in supporting startups by offering comprehensive business solutions.
From setting up your company and opening bank accounts to providing legal assistance, MarkAi Corporate Services is the one-stop solution for all your Travel and Tourism Company needs.
