Dubai has some of the best business opportunities for everyone. These include the import and export businesses as well. They add significantly to the revenue generated by the United Arab Emirates.
Since the opportunities are immense, getting started in Dubai is the right thing to do for you and your business. The emirate offers a sea of opportunities and provides a good space to grow. It also offers one of the easiest ways to start and grow your business.
With the right type of help, you can get your business started in the UAE. It is the best option for any expat to seek help.
Why should you start your import and export business in Dubai?
Dubai is the hub for investment and business. The connectability through the air, land and water route enables a better environment for those setting up a business in the emirates. This is especially true for import and export businesses.
The taxes, population and business friendly policies are also one of the things that draw people to the UAE. The UAE has a range of corporate tax rates according to your income to ensure that you pay taxes only when you have enough funds.
The infrastructural advancements have helped people get better opportunities. There are warehouses available in the city and lets you accommodate your products with ease. All the additional benefits make the place ideal for your import and export business.
How do the trade activities help the UAE Economy?
The UAE Economy depends on trade activities which have led to a strong entrepreneurial base in the country . The increase in imported products demands has made the country ideal for setting up your import and export business.
How to establish an import and export business in Dubai?
There are a few easy steps to start an import and export business in Dubai. These steps are mentioned below for you to follow-
- Get help from a company setup consultant- You can go to a business setup consultant to get your business registered with their help. They help you follow all the steps efficiently and in an orderly manner. They save you the hassle and give you the best choices for your business setup.
- Fill the application form- Fill out the application form by answering the details mentioned to get started with you business setup.
- Select the legal entity of your business – The legal entity of your business will decide the number of shareholders, the laws and taxes as well as where and how you can trade. These also decide the board of directors of the company and the investment needed.
- Select a trade name for your business- Your trade name is the identity of your company and sets you apart from other companies. When you select a trade name, do not go for anything that is too unique and difficult. Go for an exclusive but an easy to remember name. Ensure that you follow the rules of naming the businesses when finalising your name.
- Submit the required documents- Submit the documents necessary for your business setup and licence. Ensure that all the documents are submitted to avoid rejection of your application.
- Submit the required material to the concerned authorities- Submit all the required material to the concerned authorities,i.e, DED in this case. They will review the paperwork. If everything is done, you can get your licence in a few weeks.
- Open a corporate bank account in Dubai– After all the procedures are done, open a corporate bank account for your company. This will help you go about your transactions easily and in an organised manner. This will be helpful for both you and your customers.
How much does an import and export licence cost?
An import and export licence cost depends on the various factors. Knowing the exact cost can help you set up your budget and get started. This can be done by entering your details in our cost calculator. You will then get a price estimate to get started on and can plan your expenses accordingly.
How do the laws in UAE connect to my business licence?
It is essential to follow the laws set up in the UAE before you get started with your business. The government of UAE and other authorities work hard to ensure that there is no fraudulent practice in the nation. The strict measures that are taken against the frauds are also according to the law. It is therefore important to keep in mind that you comply with the rules. The new rules and regulations are made to ensure that the economy of UAE prospers and becomes a hub for investment and business instead of a oil and gas dependent economy.
Not following the rules can lead to issues such as rejection of the application for licence, termination of licence, fines and other punishments. This is why you should opt for compliance management services to ensure that you are in line with the rules.
How can RadiantBiz help with your import and export licence?
Import and export services are in high demand in the UAE currently. It is therefore essential that one realises their dreams and potential and get started with their ideal business set up in UAE. The industry has tremendously added to the country’s revenue.
In order to get started, you might need help from people who are in this field for a long time. In cases like these, you can get help from leading business setup consultants like those at RadiantBiz. Our 12+ years of experience can act like the biggest strength for you when you get started with your business set up process. Our happy clients are proof of our dedication and hard work. Our team ensures that you get all the steps done in order and on time to get your licence when needed.
Get started with your business setup with our best business setup consultants in Dubai and get the personalized touch you desire with our tailor made business strategies. Contact us now and book an appointment.