Dubai has one of the world's fastest-growing economies, making it a perfect commercial hub. Among the several business options accessible in Dubai, import and export are one of the most important.
Along with modern infrastructure, the UAE's geographical location makes it desirable for export and import business. Therefore, the Dubai government has launched several measures to help this industry.
While seeing the growth of the import-export business, it is good to start a business in Dubai.
Read this blog if you need additional information about the growth of an import-export business or how to establish one.
An Outlook on Dubai Import-Export
Dubai is the best location in the Middle East to start an import and export business due to the numerous advantages in duty-free exports, state-of-the-art port facilities, and world-class infrastructure purpose-built for accelerating international trade activities.
The Emirate of Dubai offers a secure location to global import & export companies with a robust legal and financial ecosystem that nurtures business activities by protecting the rights of the companies registered in the state.
Since ancient periods, imports and export have been one of the oldest trade activities carried out in Dubai. Apart from the trade businesses, import & export businesses are Dubai's most profitable business activities. Furthermore, supportive trade regulations for local and international traders encourage them to take on challenging international trade and business opportunities.
What Should One Consider Before Doing Import and Export Business in Dubai?
Before starting an import and export business in Dubai, one should have a,
- Thorough, in-depth knowledge of the market
- Check the competitors in the market
- Analyse what types of products can be imported and exported
- Analyse what kind of license is required for your business
What are the Products that Come Under the Dubai Export-Import Company?
The products which Dubai imports and exports are,
- Crude and refined petroleum
- Gold, diamonds, and other sorts of jewellery
- Automobiles and different modes of transportation
- Broadcasting and media equipment
Dubai Export and Import Procedures
Foreign investors who like to start a company in Dubai should learn about the export and import in Dubai.
When importing goods, a company must go through Dubai Customs and provide the following documents.
- A customs declaration form for the importation of goods
- If you're trying to bring any restricted goods, you'll need a permit.
- Delivery orders
- The invoices accompanying the merchandise
- The packing lists
- A certificate of origin
- The trade licenses
- DFSA declaration
Dubai Customs Services will issue the DFSA declaration. The same documentation is required when exporting items from Dubai.
How to Start an Import-Export Business in Dubai?
One should follow a few procedures before starting an import-export business in Dubai. For example, if you want to start a Dubai export-import company, you can follow the below steps.
1. Choose Your Trading Activity
The first step in starting an import-export business in Dubai is deciding what you want to trade. This will determine the sort of licence you require. The general trading licence is ideal for trading numerous, unrelated commodities - anything from vehicle components to shoes.
There are several import-export business ideas in Dubai if you are unclear about what to trade. Dubai imports and exports various goods, including jewellery, vehicle and aeroplane components, food and beverages, cosmetics, and clothing.
2. Finding a Trading Name
When naming a business in Dubai, a few factors to consider. First, you must follow a systematic yet simple set of naming standards.
In short, avoid using disrespectful or immoral words. In addition, you must make sure that the name you want to use is accessible for registration.
3. Strategic Location
You can begin your import and export business on the Dubai mainland or in a UAE free zone. Because many free zones have direct linkages to ports, airports, and major roads, this structure is typically best suited to import-export enterprises.
In addition, free zones provide complete exemption from all import and export taxes, no currency limitations and the ability to repatriate all money and earnings.
4. Apply for Your License
If you're wondering, "How can I acquire an important licence in Dubai?"
Here is the place to look.
Suppose you wish to start a company on the Dubai mainland; in that case, you can apply for your trade licence directly to the Department of Economic Development (DED) or municipality in your selected emirate or the management authority of one of the UAE's free zones.
A business formation professional may assist you with this stage in any scenario, coordinating the entire application procedure on your behalf. The specific documentation necessary to establish a general trading company in Dubai will vary depending on your business activity and location. However, in most circumstances, you will be requested to provide:
- Filled application form
- A copy of the intended owner's passport
- Two coloured passport size photos with white background
If you want to know more, read about the import-export license in Dubai.
5. Custom Requirements
You must consider customs procedures if you intend to trade with the rest of the globe. While establishing your business in a free zone can help you avoid import and export taxes. In addition, you will still need to get a Dubai import export code from the Federal Customs authorities.
You may get your code by contacting the customs department of the emirate where you want to establish up shop. Most of the time, you will be expected to provide:
- A copy of your general trading license
- A copy of your passport
- Details of your trading activities
6. Visa Services
You can apply for visa services for you and your employees in addition to your company licence. While applying for the visa, a business consultant can assist you.
You can sponsor others for visas as a UAE company licence owner. This might be a spouse, parent, kid, or a domestic worker such as a maid.
The maximum number of visas you may apply for is determined by the size of your company, the structure you choose, and, in the case of dependent visas, your earnings.
From the above blog, it is clear that Dubai's import and export business is rapidly expanding. So, if you want to establish a business in Dubai, you may consult with a business expert. Business consultants have years of experience in their field. They will communicate with the various departments and assist you in addressing the difficulties.
We at Business Setup Worldwide would like to make your job easier. If you seek skilled business advice, we will assist you. Furthermore, we would appreciate it if you could contact us with various queries. Please contact us for additional information and to realise your ambitions so that the entire process is successful and time-efficient.
1. Does a local sponsor need for import-export business in Dubai?
2. How to do an import-export business in UAE?
The steps for starting an import-export business in UAE are,
⮚ Choosing the relevant trade activity
⮚ Finding a suitable trade name
⮚ Selecting a strategic location
⮚ Applying for a license
⮚ Visa requirements
3. What are the Dubai import-export license fees?
The fees of an import-export license in Dubai are around AED 25,232.
4. List out a few import and export companies in Dubai.
The few import and export companies in Dubai are,
● Eastpac International
● Van Leeuwen Pipe and Tube Middle East
● Mister Light Electrical Installation Trading LLC
● Al Mazroui Icas LLC
● Apex Trading Co WLL
5. Is the import-export business in Dubai profitable?