The economic growth of Dubai is largely dependent on the international market. The global market helps to expand the development of the business setup in Dubai.
Some of the things imported in the UAE are valuable metals, food items, machine parts, and various kinds of equipment. The import-export business license allows investors to make global trade. Besides, doing any local trade import and export license is a valuable document. Dubai is the perfect place for company formation in UAE due to its tax laws, and it drives foreign entrepreneurs who are keen on import and export business. Apart from its tax laws, it is blessed with large logistic facilities and business infrastructure.
Import and export is an emerging business since there is a demand for many goods from the local Dubai population, such as machinery, food items and much more. There are a few rules and regulations for import and export companies doing business in this region. The rules are meant for making the import-export process smooth.
Why Set Up Business in UAE
Business setup in Dubai is highly advantageous for foreign investors. This is because of the huge business opportunity and growth it has. Dubai is one of the ideal places for doing business because it offers unparalleled business infrastructure, zero taxation, foreign ownership, and has business-oriented laws. Apart from that, due to the strong banking network, luxury lifestyle and safety influence the foreign investors to do business in Dubai.
Where to Setup the Company?
There are many options available for investors to set up the company. For any company formation in the UAE, selecting business jurisdiction is vital and the foremost step.
There are three main jurisdictions in UAE where all the companies are created: The Mainland, offshore, and Free zone. Investors should choose one of these jurisdictions to establish their business.
What makes these jurisdictions different is the type of ownership it offers. For instance, those business formation in Dubai free zone are more flexible, plus they get full ownership of the company.
On the other hand, there are new rules and regulations for businesses set up in The Mainland and jurisdiction. You do not have to be a UAE citizen and offer full ex-pat ownership for being the sponsor. There are over 100 business activities.
Where To Get Import Export Company License in Dubai?
For availing Import Export license in Dubai, foreign investors must send an application to the economic development department, mentioning the kind of business activity they try to conduct and in which jurisdiction they want to do the business.
After getting the business license from the Free Trade Zone or the Dubai Economy, the foreign entrepreneur can successfully conduct their business operation and allow local and global trading. The company owner needs to obtain the import-export code from Dubai customs to make the trade operation smooth.
Know The Process of Getting Import/Export Code in Dubai?
The business owner has to send an application for the import-export-trading license for any of the jurisdictions it may be the Free Zone of UAE or from the Mainland of Dubai. Next, you need to register the company with Dubai customs to run the business process effectively. escort karşıyaka
Every import-export company setup Dubai needs to have a valid license to begin international trading activities. After getting the approval for your trading license, you will have to get the clearance for custom registration at the same time. There are a few essential documents require for an international trading business to import goods from other countries, which are list below:
- Valid Trade License
- Clearance from the Dubai Customs Services
- Importer trade license
- Approval for importing restricted goods
- Invoice Bill mentions the details of the good
- Delivery order details
Form a Plan
A business plan is the most foremost step before planning any business to set up. A great business plan will help to understand everything such as market competition, the demand of the products, types of business activities, knowing the required number of employees which you need to absorb, area of the office infrastructure and initial capital investment.
Searching For Sponsorship
If you want to conduct business operations in Dubai, you need to search for a local sponsor. You cannot begin a company in The Mainland location unless you have local sponsorship support. Also, a local sponsor needs to be a UAE national. There are two types of sponsorship approved in the UAE, regional and corporate sponsorship.
A local sponsorship allows you, the business owner, to take control of 49 per cent of your business’s share. In contrast, the corporate sponsor enables business owners to have the entire ownership.
Legal Priorities
A license application must be duly signed by legal authority, and a memorandum of association are the two most important documents which need to be submitted. After providing all the required documents, UAE officials will come and scrutinise your trade name and compare it with UAE’s commercial registry. After that, the Dubai Economic Department will send your documents to the higher authority for its verification. Finally, the Federal Ministry of Economy will issue the approval letter.
How do business setup consultants help in setting up a business in Dubai?
The main job of business consultants is to guide foreign investors in setting up the business in UAE. The business consultant will offer all the support required for the business to establish. They will support the business formation in Dubai to the legal aspects.
With the availability of numerous business activities, office types, settling down with a suitable company package is vital. Dubai Business set up will walk you through choosing the right free zone and support all administrative requirements. Dubai Business set up will be pleased to set up your business in any jurisdiction under the UAE flag. Their officials are well conversant and knowledgeable in the company set-up and can give you a customised experience.
