In the age of streaming, the retail sale of music and video recordings has faced significant challenges. However, innovative retailers have found ways to thrive by adapting to the changing market. For example, some businesses have created unique in-store experiences that combine music, art, and community events. Others have focused on offering personalised services, such as custom vinyl pressing or curated music collections. Additionally, many retailers have leveraged digital channels to reach a wider audience and offer convenient online shopping options.
The UAE offers a favourable business environment for entrepreneurs looking to enter this industry. With its strategic location, growing consumer market, and supportive government policies, the country presents a promising opportunity. By focusing on niche products, offering personalised services, and leveraging digital channels, entrepreneurs can successfully navigate this dynamic market. For an entrepreneur looking to enter this industry, here are the business activities you can choose from under your business license.
4762.00 – Retail sale of music and video recordings in specialised stores
This business model involves the sale of music and video recordings in stores that cater specifically to these products. These stores often have a curated selection of items, focusing on particular genres, artists, or formats.
These stores are not general retailers but have a specific niche within the music and video industry. They offer a carefully chosen range of products, often catering to the tastes of dedicated fans or collectors. Staff members typically have a deep understanding of music and video, allowing them to provide expert advice and recommendations. These stores may sell unique formats or limited editions that are difficult to find elsewhere.
Examples of these stories include vinyl record stores, classical music stores, blu-ray disc stores, k-pop stores, and indie music stores.
Third-party Approval: Third-party approval from the MRO is required for business activity 4762.00
Filing of Economic Substance Return: Business activity 4762.00 is exempt from this requirement
Anti-Money Laundering Compliance: Business activity 4762.00 is exempt from this requirement
4762.01 – Retail sale of musical records, audio tapes, compact discs and cassettes
This business model involves the sale of physical music formats, such as records, audio tapes, CDs, and cassettes. These stores often cater to collectors, audiophiles, and those who prefer the tangible experience of owning physical media.
The primary focus is on selling physical music formats, which have a unique appeal to many collectors and music enthusiasts. These stores typically offer a wide range of formats, from classic vinyl records to modern CDs and cassettes. Many stores have a curated selection of music, often focusing on specific genres, artists, or time periods.
Third-party Approval: Business activity 4762.01 is exempt from this requirement
Filing of Economic Substance Return: Business activity 4762.01 is exempt from this requirement
Anti-Money Laundering Compliance: Business activity 4762.01 is exempt from this requirement
4762.02 – Retail sale of video tapes and DVDs
This business model involves the sale of physical video formats, such as video tapes and DVDs. These stores often cater to collectors, home theatre enthusiasts, and movie buffs. The primary focus is on selling physical video formats, which have a unique appeal to many collectors and movie enthusiasts.
These stores typically offer a wide range of formats, from classic VHS tapes to modern DVDs. Some stores cater specifically to home theatre enthusiasts, offering a wide range of movies in high-definition formats, as well as audio and video equipment.
Third-party Approval: Business activity 4762.00 is exempt from this requirement
Filing of Economic Substance Return: Business activity 4762.00 is exempt from this requirement
Anti-Money Laundering Compliance: Business activity 4762.00 is exempt from this requirement
4762.03 – Retail sale of blank tapes and discs
This business involves the sale of blank recording media, such as audio cassettes, videotapes, CDs, and DVDs. These products are primarily used for recording and storing music, videos, or data. The primary focus is on selling blank recording media, which are used for recording and storing content. These stores typically offer a wide range of formats, from audio-cassettes to DVDs. Some stores may also offer customisable options, such as blank CDs or DVDs with custom labels or packaging.
Third-party Approval: Business activity 4762.03 is exempt from this requirement
Filing of Economic Substance Return: Business activity 4762.03 is exempt from this requirement
Anti-Money Laundering Compliance: Business activity 4762.03 is exempt from this requirement
4762.96 – Blank Cassette Trading
Blank cassette trading refers to the buying, selling, and trading of blank audio cassettes. This business model is often associated with music collectors, audiophiles, and those who prefer the nostalgic appeal of cassette tapes. The primary focus is on blank cassette tapes, a physical recording medium that has seen a resurgence in popularity in recent years.
Blank cassettes come in various types, including standard C-60, C-90, and high-bias cassettes. Some traders may offer customised options, such as cassettes with specific labels or packaging. Entrepreneurs in this field should be aware that a significant portion of blank cassette trading occurs online, through platforms like eBay, Discogs, and specialised cassette forums.
Third-party Approval: Business activity 4762.96 is exempt from this requirement
Filing of Economic Substance Return: Business activity 4762.96 is exempt from this requirement
Anti-Money Laundering Compliance: Business activity 4762.96 is exempt from this requirement
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