Until recently, crude oil and natural gas were the primary commodities for import export business in Dubai. But now, Dubai has developed to a great extent and is on its way to becoming a smart city; a lot has changed. Today, the trade commodities also include non-oil products.
According to the statistics, the export and re-exports of the member companies of the Dubai Chamber of Commerce rose 20% annually in the first eight months. As surprising as it may sound, member companies’ total exports and re-exports during the January-August period surged to Dh 177 billion. This growth indicates that this is the right time to start export and import business in Dubai. Moreover, the main import partners are India (17% of total imports), China (9.1%), and the United States (9%).
Now, if you’re wondering how to start an import-export business in Dubai, you must read ahead. This blog will walk you through everything there is to know about export business in Dubai. It covers everything from the benefits to the required document and the process to the cost. So, let’s dive in.
What Are the Benefits of Import Export Business in Dubai?
There are several benefits of the import and export business in Dubai. Here are some of the most prominent ones that attract entrepreneurs from across the globe.
- You don’t have to pay any taxes, be it income, corporate, or personal tax. This is one of the most attractive benefits of doing business in Dubai.
- Dubai offers a well-developed infrastructure. Dubai has a modern airport and seaport that accommodate large shipments, making trading activities easier. Therefore, it is perfect for conducting business activities in the UAE and other countries.
- The government facilities provide adequate flexibility for growth facilities and ease of business.
- If you decide to set up your import export business in any of the Dubai free zones, you won’t have to pay import taxes. Therefore, it doesn’t limit but enhances the scope of earning profits.
- Another significant advantage of doing an import export business in Dubai is that you can enjoy easy access to the regional markets.
What Are the Main Import and Export Commodities in Dubai?
Now that you are aware of the benefits of import export business in Dubai, let’s look at the primary import and export commodities:
Export Commodities
- Crude Petroleum
- Gold
- Refined Petroleum
- Broadcasting equipment
- Diamonds
- Cars
Import Commodities
- Gold
- Broadcasting Equipment
- Food business
- Diamonds
- Cars
- Jewelry
What Are the Required Documents for Starting an Import-Export Business in Dubai?
Although the import-export business setup process is easy, the paperwork can be tedious. You need to gather various legal documents, get permissions and file them all on time. Here, we have mentioned the primary documents you’ll need to start your registration process.
- A copy of your passport.
- A copy of your visa or an entry permit.
- 2 colored, passport-size photographs. (It’s best to check for the exact dimensions before getting it printed.)
Furthermore, there are a few additional documents you will need to submit. Depending on your business’s size, nature, and commodities, these may vary. Therefore, you can contact the company set-up experts at the UAE Expansion India branch to get a detailed list of these documents.
What Is the Process to Start an Import Export Business in Dubai?
The process of starting an export-import business in Dubai is straightforward. Here’s an overview of the process:
Step 1. Select Business Activity
The first step is to decide what commodity you want to trade. Accordingly, you can choose later what type of license you need to acquire.
Step 2. Choose a Company Name
Next, you must decide on a suitable name for your company. When determining a company name, you must abide by the UAE government’s strict yet easy-to-follow naming guidelines. The business experts at the UAE Expansion India branch can help you with this. Moreover, once you decide on your company name, you must legally register it with the concerned authority.
Step 3. Choose a Location
You have two options when it comes to selecting a location for your import and export business in Dubai. You can either set up your business in the mainland region or any one of the free zones. Furthermore, many free zones offer direct links to the major ports, airports, and highways, making them best suitable for import-export businesses.
Step 4. Apply for Initial Approval
Next, you must gather all the required documents, submit them to the concerned authorities, and apply for initial approval.
Step 5. Rent an Office
Once you decide on the location, you must rent an office in the selected area. Remember to check out the place in person before finalizing it. Moreover, you must register it with Ejari to generate your unique Ejari number and tenancy contract.
Step 6. Apply for License
Once you rent an office space, you must then apply for your import-export license in Dubai. Gather all the required documents and submit them to the concerned legal authority. Also, ensure to double-check all the documents before the final submission. If everything seems in place, the government officials will issue your import-export license in Dubai. Furthermore, you must pay the required license fee within 24 hours of receiving your license.
What Is the Cost of Starting an Import Export Business in Dubai?
It is challenging to provide you with an exact breakdown of the cost of an import and export business in Dubai. However, to give you an idea, the import-export license cost in Dubai could be approximately AED 20,000 to AED 30,000.
To get an accurate estimate of the cost of starting an import and export business in Dubai, you can connect with the business setup experts at the UAE Expansion India branch.
Start Your Import Export Business in Dubai
After reading the blog, we’re optimistic that you’re well acquainted with the primary information for starting an import-export business in Dubai. However, that is not enough. It’s best to get in touch with the business setup experts to learn all the necessary details.
The business set-up consultants at the UAE Expansion India Branch are well-versed in the import-export business setup process. Therefore, they can help guide you at every step, from refining your business plan to collecting essential documents.
Moreover, they will get the necessary permissions on your behalf and acquire your business license at highly affordable rates. All you need to do is call them, and they will take care of the rest while you focus on other important business matters.
