The import and export business in Dubai is flourishing, given the Emirate’s strategic location and access to international trade routes. The United Arab Emirates (UAE) government has played its part by investing a billion dollars in warehousing and transportation infrastructure.
But before you proceed to set up an import-export business, you must avail the appropriate license. In this article, get a detailed understanding of the legal document.
Why Start an Import and Export Business in Dubai?
There are numerous reasons for starting an import-export business in Dubai. Some of the reasons are:
- Business-friendly Environment: Dubai is attracting entrepreneurs from across the world by promoting business-friendly regulations such as tax optimization.
- Government Support: The UAE government is investing in infrastructure, negotiating free trade agreements, and providing other necessary assistance to enhance the import-export business.
- Strategic Location: Dubai is situated at the crossroads of Asia, Africa and Europe giving you access to the vast market.
- Top-notch Infrastructure: Access to top-notch infrastructure enhances the import-export business operations in Dubai. You can easily conduct business, such as moving cargo, through the well-connected sea and air routes.
Process of Availing an Import and Export License in Dubai
To obtain the import export license in Dubai, you need to follow a specific process. Read on to learn the involved steps:
Select Business Activity
Visit the Dubai Department of Economic Development (DED) website, which contains a list of business activities. Select the option ‘general business activity’.
Choose a Trade Name
Considering the local laws and regulations, a trade name must be chosen that appropriately reflects the business activity.
Determine Jurisdiction
You can start an import-export business in Dubai either in the Dubai mainland or in any of the freezones. Depending on the jurisdiction, you must approach the relevant authorities for company formation in Dubai.
Fill Application
To obtain the export license in Dubai, you have to complete the application process. It involves filling out the application form, preparing and submitting the necessary documents, and paying the requisite fees to the government authorities.
Register with Dubai Customs
You have to register the business with Dubai customs to obtain an import-export code. You can use the code to clear customs when importing and exporting items.
Which Documents must be Submitted to Obtain the License?
You have to submit specific documents to avail of an import-export license in Dubai. Some of them are mentioned below:
- A filled application form which highlights the business activity and materials to be imported and exported.
- Copy of Emirates ID (In case of a mainland company formation)
- Copy of the residence visa
- Duly attested copy of the company’s Memorandum of Association (MoA)
- Passport copies of shareholders
- Trade name options
Benefits of Availing Import Export License in Dubai
By obtaining an import-export license, you can enjoy a number of benefits. Some of them include - your business being legalised, availing tax incentives, and having full ownership of the company. In addition to that, the import duty cost is lower compared to other countries, and you get access to a larger market due to the free trade agreements.
How Can BSW Help?
Business Setup Worldwide understands the complexities involved in starting an import-export business in Dubai. We offer business packages in such a way that you don’t have to face any kind of hassle. Our consultants will take care of all the business requirements, including the application process and documentation. Contact us for more information, and we will be glad to help you.
