Did you know that the global textile industry is worth around $1 trillion?
The textile industry includes basic fabrics, raw materials, finished clothes and technical textiles. With social media and fast fashion growing faster than ever before, there has never been a better time to invest in the international textile industry.
Textiles are a global market and the industry is growing fast. For example the Indian textile industry employs around 45 million workers and is expected to be worth more than $209 billion by 2029.
However when it comes to starting a new textile company, there is no better place than Dubai. Perfectly located for international shipping and textile exports, Dubai comes with a host of benefits to ensure your investment is nothing less than absolute success.
Interested in starting a business in Dubai? You’ve found the right blog. Here’s everything you need to know about the Dubai textile industry and how to start a textile business in the UAE.
What Is the Textile Industry?
The textile industry consists of all economic activity surrounding the design, manufacturing, and distribution of cloth, clothing, and other textile materials. While these products are generally made from natural ingredients, modern techniques have enabled companies to make synthetic materials from artificial chemicals and compounds.
The textile sector has evolved in the last few decades to be more efficient. Modern equipment and technology have enabled companies to make durable materials as well as technical textiles through a greener manufacturing process. This means using less energy and reducing the overall carbon footprint of the manufacturing process.
When it comes to modern technology, no industry has evolved as quickly as the Dubai textile industry. Significant investments have been made over the last decade to make the entire country more environmentally friendly. This included a number of investments into the local textile sector.
The Textile Industry in Dubai
The textiles industry in the United Arab Emirates has steadily grown over the last few decades. This is true for both the manufacturing and retail sectors as Dubai has become the shopping capital of the world.
The textile sector in Dubai is valuable for investors that wish to build factories to create textile products such as clothing, as well as retailers who wish to design and sell clothes in the apparel industry. Dubai has become one of the most popular vacation destinations in the world. With over 16 million international visitors travelling to Dubai every year, the retail sector has boomed.
This has led to Dubai being responsible for over 10% of the entire country’s gross domestic product. The majority of this is in the retail and tourism sectors of the city.
Dubai is home to the largest shopping mall in the world. The Dubai Mall has over 1,200 stores spread across four entire floors. This makes it the retail centre of the entire country.
Dubai and the United Arab Emirates are also tax-friendly locations. This further encourages consumers to travel and spend money. This makes it the best location to open a shop or retail store in the world right now.
Why Invest In the Textile Industry?
The textiles industry has never been more popular. Social media and modern marketing have grown the fashion apparel industry over the last few years. Fast fashion has taken over, with most consumers finding and making purchases completely online.
This makes it even easier for you to invest in the textile sector as you can enter the market as an online store. Investing in an online store requires much less capital but is still a great way to sell clothing and merchandise in the UAE and around the world.
If you’re asking yourself why you should locate your business in Dubai, the answer is simple. Dubai has one of the most effective and efficient transportation and logistics centres in the world. The Dubai airport is one of the most efficient airports in the world, handling over 20 million passengers every year.
This means that you can easily set up a warehouse and manufacturing facility in Dubai to support global sales. There are tons of online platforms available for you to easily sell your products online. Platforms like Shopify even offer marketing tools to help build brand awareness for your online business. This is also very valuable when looking to purchase materials for your textile business, it has never been easier to source these items online in bulk saving you money and time.
There are also tons of website builders and APIs available to streamline the process. This makes designing and launching your online store quicker than ever before. The quicker you can get your online store up and running, the quicker you can make money.
How To Set Up an eCommerce Business in Dubai
Setting up an online store or eCommerce business has never been easier. With the help of powerful online tools, you can set up an entire online store without even having to code. Here’s a quick guide on how to get an online store up and running.
Step 1: Finalise Your Product
The first thing you should do is finalise your product. The online space is highly competitive. This means that you need to spend a lot of time perfecting your product and making it stand out from the competition.
Investing in professional photography can also be beneficial as you’ll need to upload high-quality images to your website and online store.
High-quality images help set your product apart from the competition. With thousands of online stores offering millions of products, having quality marketing images is an absolute must. These images can cost a bit of money to get done professionally but are completely worth it.
Step 2: Set Up an Online Store
The next step is to set up an online store. While this used to be very complicated in the past, new platforms have emerged to make the entire process easier than ever before. Platforms such as Shopify offer eCommerce solutions built into the website builder.
This means you can buy your domain, design your website, and upload stock to an online store all in a single platform. The best part about this is that most of these platforms are incredibly affordable. With packages that range from as little as $20 a month, it has never been easier to get started with an eCommerce store.
Step 3: Invest In Marketing
As mentioned before, marketing is important. In addition to investing in product marketing, you should consider marketing your entire online business. This includes purchasing ads on social media and even SEO marketing to boost your website’s search engine ranking.
SEO marketing is one of the most effective forms of marketing as most people will use Google to find the products or services they need. SEO marketing directly influences your search engine ranking so that your business shows up first.
How to Start a Business in the UAE
Starting a business in the UAE can be done in just a few weeks. With the help of professional consultants, most of the work can be done for you. Here’s a quick guide on how to start a business in the United Arab Emirates.
Step 1: Find a Good Name
The first step to starting any business is to find a good name. When choosing your name, make sure it’s something catchy and simple. This gives you the best chance of creating a brand that customers can quickly recognise and fall in love with.
Step 2: Open a Business Bank Account
The next step is to open a business bank account. To run any business, you will need to keep an accurate record of all your finances. Modern business bank accounts manage to collect your statements to create financial statements automatically.
This can help save you a lot of time while also enabling you to keep a close eye on all your finances throughout the year.
Step 3: Apply for a Business License
Once you have your affairs in order, you can go ahead and apply for a business license. If your business is a mainland business, you will have to go to the Department of Economic Development. However, you’ll need to visit the Municipality in the Emirate in some cases.
This process can get complicated, which is why it’s advisable to hire a professional consultant to help you through the process. Professional business consultants are aware of the local laws and speak the language. This makes the entire process a lot quicker to go through.
Benefits of Starting a Business in the UAE
Starting a business in the UAE comes with a whole host of benefits. From opportunities to low taxes, Dubai is one of the most attractive locations for foreign investment. Here are some of the benefits you can expect when starting a business in Dubai.
Easy to Set Up
Starting a business in Dubai is a lot easier than you may think. The government has reduced the amount of red tape to encourage more people to invest in the country. In addition to this, professional consultants are available to help you through the entire process.
There are no personal income taxes in the United Arab Emirates. In addition to this, corporate taxes are far less than in most other countries in the world. This means that by simply moving your business to the UAE, you can save money every year on your taxes.
Dubai is located in the centre of the world. This means that you can ship your products to any corner of the world efficiently. This is particularly important in the retail sector as most sales are not conducted online.
How to Get a Long-Term Visa
One of the major benefits of investing in Dubai is the ability to qualify for a long-term visa. These visas are reserved for business owners and entrepreneurs that bring in significant investments to Dubai and the United Arab Emirates. Here’s how to get a long-term visa by making an investment in Dubai.
Step 1: Entry Visa
The first step to getting your long-term visa is to enter the country. This can be done on any kind of visa including a simple tourist visa. Once you have entered the country, you can begin the process of applying for an investor visa.
Step 2: Apply for an Investor Visa
The investor visa application will look different depending on the kind of visa you want to get. However, most investor visas will require you to submit proof of health insurance, a good conduct certificate from the Dubai police, your current UAE visa, a no objection letter from the bank, your passport, and your latest bank statements.
Step 3: Medical Examinations
Once your application has been submitted, you can then go ahead with your medical examinations. This exam generally requires you to undergo an X-ray as well as a few blood tests at a certified medical centre. This usually takes a few days but is compulsory for all visas.
Step 4: Supply Supporting Documents
Lastly, you can submit all supporting documents to the necessary authority. This includes your company registration documents and bank statements to prove that you have enough funds.
The amount of funds needed will vary depending on what visa you’re going after. The Golden Visa is the longest visa option that requires an investment of at least AED 10 million.
Invest in the Textile Industry in Dubai
When it comes to what kind of business to invest in, the textile industry offers plenty of opportunities. If you’re thinking about location, nothing beats Dubai.
Dubai is one of the best places to start a new business. With a booming local economy and favourable tax regulations, you are destined to thrive. Investing in the country is one of the easiest ways to secure a long-term visa for you and your family.
If you have any questions or want to learn more about the benefits of starting a business in Dubai, feel free to contact us today.