Dubai works as a trading hub because of its geographic location. Economic activity is growing rapidly in Dubai. Entrepreneurs and investors from all over the world are coming to Dubai to start their Business activity. There is a wide variety of ideas available to start your business in Dubai.
Starting an Import Export Business in Dubai can be quite lucrative for entrepreneurs and investors. The potential for growth for an import export business is huge in Dubai. But you will need to make the right business decision.
Dubai is one of the places on earth that supports all kinds of new business activities with its rules and regulations. Aside from the tax benefits, you can take advantage of the country’s well-developed market by starting an import export business in Dubai. With thorough market research and a well-crafted business plan, you can make a significant profit from your investment.
However, the complications of starting an import export business can be quite scary. Company Setup Consultants can help through the whole process so that you can start your own import export business and start your business operation in no time.
How can I Start Import and Export Business in Dubai?
The process of starting an import export business in Dubai is pretty similar to starting a typical small-scale business. However, starting an import export business in Dubai comes with some variations.
If this is your first time starting a business in Dubai, the process might confuse you. Company Setup Consultants can guide you through the whole process of starting an import export business in Dubai.
Here are the steps to start an import export business in Dubai:
1. Select a Company Name
The first step of starting an import export business is selecting a company name and getting it approved by the Dubai Department of Economic Development. When selecting a name, you must abide by the rules and regulations of the Dubai government. You must make sure that the name has not been used before and does not contain any profanity.
2. Pick a Business Location
Choosing a suitable location is very important as it will highly influence your business activity. For your import export business, you can start your company in Dubai’s mainland, free zone, or offshore. These locations in Dubai come with different advantages unique to them.
When choosing a location for your import export business, you must make sure that the location complements your business activity. The location you choose must be aligned with your business plan.
3. Rent an office space
You will also need to rent an office space in Dubai that will work as your base of operation. You will need to consider the size of your business, the number of employees, and the time to make the renting decision. You must also consider the location of the office space.
A reputed location for your business will improve your brand image and make it more acceptable and trustworthy.
4. Apply for the Trade License
Next, you will need to acquire a trade license to start your business operations legally in Dubai. You can acquire a trade license from the Dubai Department of Economic Development (DED). You can apply online for the trade license.
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5. Apply for an import-export license
You will also be required to apply for an import-export license to start an import export business in Dubai.
6. Submit the relevant Documents
When you apply for a trade license, you will also need to submit the relevant documents to the authority. The documents required for the trade license will vary depending n the type of business activity. When submitting the documents, you must make sure that the documents contain accurate and updated information. Otherwise, the process will get lengthy.
7. Submit Visa Applications
You can not forget about the visa. You must collect a resident visa to reside in Dubai and conduct your business operation. After collecting a resident visa, you will be able to sponsor your family, friends, and employees.
8. Pay Fees and Collect the license
Once your documents are approved by the authority, you will need to pay the relevant fees. The approval process might take some time. Once you pay up the fees, you can collect your trade license. After collecting the trade license, you can legally start your business operation in Dubai.
9. Open a Corporate Bank Account
Once you get your license, you should open a corporate bank account. As an import export business, you will be handling a lot of local and international transactions. A corporate bank account will allow the secure transaction. You must choose an institution that suits your business activities.
Benefits of Starting an Import Export Business in Dubai
The growing economy of Dubai is offering lucrative opportunities for all types o start-up businesses. With an import export business, you can also take advantage of these opportunities.
Here are the benefits of starting an import export business in Dubai:
1. Quick Setup
You can set up a business in Dubai pretty quickly and start your business operation in no time. Dubai government also supports all businesses with its rules and regulations.
2. Tax Benefit
The tax benefit is one of the main reasons entrepreneurs and investors come to Dubai to start their businesses. You will not need to pay any type of personal tax in Dubai. It means you can retain 100% of the income you generate from your business.
3. 100% ownership
If you are starting your business in the free zone of Dubai, you can have 100% ownership over your business. However, you will need a sponsor if you plan on starting your business in the Dubai mainland.
Documents Required to start an Import Export Business in Dubai
Here are the documents you will need for an import export license in Dubai:
- Completed application form
- Passport copy of the proposed owner/s
- Passport size photographs- 2 Copies
- Visa copy – can be either a visit visa or a residence visa
- NOC letter from the current sponsor in case of a residence visa
How can we help to to Start an Import and Export Business in Dubai?
If you want to start an import export business in Dubai, but you do not know where to get started, then you are in the right place. This is because Company Setup Consultants has helped numerous entrepreneurs from all over the world start various businesses in the UAE. Contact us today and hit the ground running.
To Speak with our Experienced Business Consultants for further information and assistance, call us at +971-582-595-164. Send a WhatsApp Message for Chat Query on +971 582595164 or email us at [email protected].
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