Sports are the stress-busters that strengthen us to live healthily. According to the statistics, more than one million people prefer athletic events in Dubai. It shows people’s interest in sports activities. Moreover, the government has built various sports clubs and training facilities to promote sports.
A growing sensation in sports owes to the increase in sports equipment. The demand for sports equipment is also increasing these days. So, it’s the perfect time to invest in sport equipment businesses.
Sports equipment includes golf shops, sporting goods stores, bowling alleys, stake board shops, bicycle stores, surf shops, etc.
If you’re ready to start your business, then continue reading to know the process, paperwork, and cost.
Steps to Start a sports equipment business in UAE
1. Decide the legal form
Initially, you have to choose the legal form of your business.
Initially, you have to choose the legal form of your business.
Sole Establishment
In this legal form, a foreign citizen or expatriate is the proprietor and a UAE citizen works as a regional agent.
In this legal form, a foreign citizen or expatriate is the proprietor and a UAE citizen works as a regional agent.
Civil company
civil company legal form allows you to have more than 2 overseas resident partners and a UAE citizen who works as a regional agent.
civil company legal form allows you to have more than 2 overseas resident partners and a UAE citizen who works as a regional agent.
LLC or limited liability company
When starting an LLC, the UAE citizen has 51% of the shares and the foreign investor has 49% shares.
When starting an LLC, the UAE citizen has 51% of the shares and the foreign investor has 49% shares.
2.Choose a unique trade name
A trade name distinguishes your business from competitors. Also, it reflects the nature and form of your business. You should prepare at least 3 to 4 names and present them before the respective department. The department will check for any violations and then, approve the eligible business names.
In UAE, you have to follow a few naming conventions before finalizing the trade name.
A trade name distinguishes your business from competitors. Also, it reflects the nature and form of your business. You should prepare at least 3 to 4 names and present them before the respective department. The department will check for any violations and then, approve the eligible business names.
In UAE, you have to follow a few naming conventions before finalizing the trade name.
3.Get initial approval
Initial approval is mandatory to proceed with the business setup process in UAE. The government grants a preliminary approval that indicates no objection to starting your business. But, it doesn’t give you the authority to run your business. Business owners have to proceed few other steps to start the business activity.
Initial approval is mandatory to proceed with the business setup process in UAE. The government grants a preliminary approval that indicates no objection to starting your business. But, it doesn’t give you the authority to run your business. Business owners have to proceed few other steps to start the business activity.
4.Draft LSA and MOA
MOA is a compulsory document for company formation. It contains the details of board members, shareholders, rules to operate the company, and so on.
The businesses owned by non-GCC residents need a local service agent or LSA from UAE.
MOA is a compulsory document for company formation. It contains the details of board members, shareholders, rules to operate the company, and so on.
The businesses owned by non-GCC residents need a local service agent or LSA from UAE.
5.Extra approvals
Based on the business activity, you might need extra approvals from the government.
In this stage, you can approach our NHBC experts to go through all the government approvals.
Based on the business activity, you might need extra approvals from the government.
In this stage, you can approach our NHBC experts to go through all the government approvals.
6.Business License
Once completing all the above steps, it’s time to apply for the business license. When applying for a business license, it depends on the sole activity of your company.
After getting the license, start practicing your business activities in Dubai.
Finally, you can collect the license from service centers or through official websites.
Once completing all the above steps, it’s time to apply for the business license. When applying for a business license, it depends on the sole activity of your company.
After getting the license, start practicing your business activities in Dubai.
Finally, you can collect the license from service centers or through official websites.
What are the documents required to start a sports equipment business in Dubai?
After receiving the approvals and registrations, you have to open a corporate bank account and start dealing with the business.
After receiving the approvals and registrations, you have to open a corporate bank account and start dealing with the business.
What is the cost of a sports equipment business setup in the UAE?
Sports equipment business setup is not a fixed cost. Instead, it depends on factors like approvals, location, etc.
As per the rough calculation, the business setup cost will be around AED 15,000 to AED 20,000.
Sports equipment business setup is not a fixed cost. Instead, it depends on factors like approvals, location, etc.
As per the rough calculation, the business setup cost will be around AED 15,000 to AED 20,000.
Start your sports equipment store with NHBC consultants
Most people start a business that is linked to their previous careers. If you get proper guidance, you may crack any industry with great confidence.
NHBC business setup experts ensure continuous support throughout the company formation process. Sports academy, sports equipment store, sports club, or any business, you must be familiar with the rules and regulations. A dedicated business setup firm like NHBC can help you cover the process and ensure seamless approvals.
Book your free consultation! Dubai is a competitive market, so work smart right from the beginning.
please call us at +971 58 500 8643 or email us at [email protected] and we will get back to you at the earliest.
Most people start a business that is linked to their previous careers. If you get proper guidance, you may crack any industry with great confidence.
NHBC business setup experts ensure continuous support throughout the company formation process. Sports academy, sports equipment store, sports club, or any business, you must be familiar with the rules and regulations. A dedicated business setup firm like NHBC can help you cover the process and ensure seamless approvals.
Book your free consultation! Dubai is a competitive market, so work smart right from the beginning.
please call us at +971 58 500 8643 or email us at [email protected] and we will get back to you at the earliest.