Guide to Setting Up an Import-Export Company in uae
Learn the crucial procedures for establishing your business in the United Arab Emirates, along with some extra information needed to launch import-export ventures.
Register your company in Dubai or the United Arab Emirates.
First and foremost, you must register your import-export business in the United Arab Emirates (Dubai) by precisely outlining your company’s operations and the precise import-export activities you intend to carry out throughout the company formation procedure. In order to acquire the appropriate trade license, this is crucial.
Next, decide whether a Limited Liability Company (LLC) or another structure better meets your needs as a business. Decide on a distinctive new company name and obtain the Department of Economic Development’s (DED) or the appropriate free trade zone authority’s initial approval. Your trade license is available online or at the DED service centers.
Obtain a license for import and export.
The following paperwork is needed to apply for an import-export business license:
- The recently formed company’s Trade License Memorandum of Association (MOA)
- A copy of the business owner’s passport
- A copy of the residence visa page or entry stamp
- Office/Warehouse Tenancy (Rent) Agreement
- Request letter for the import-export code
- Payment of import-export code fees
How to Apply:
Send in your application: Send your application to the Department of Economic Development, including the name of your company and the specifics of how it operates. The cost could range from AED 20,000 to AED 24,000, depending on the particular emirate you’re applying for.
Give e-channel services permission: To get an entry permit and speed up the import-export business setup process, use the e-channel service.
Turn on the status change: You can either activate your status change inside the nation or by leaving and returning to the Emirates. In order to obtain your Emirates ID, you must also pass any necessary medical exams.
Select a workspace.
In general, Dubai requires a physical office. Considerations such as operating in a free trade zone or being close to ports and logistics facilities can help you select an appropriate site. When choosing, it’s critical to take your business plans into account.
Get a visa.
Usually, you’ll need a visa that is specific to your circumstances and the type of business you run. The following are typical visa choices:
UAE Residence Visa: Usually good for two years, this visa is required to live and work in Dubai. You must be a shareholder in a company based in Dubai or have a job offer.
Investor visas are valid for three years and are required if you plan to invest at least AED 70,000 in your import and export company in Dubai.
Free Zone Visa: Usually good for two or three years, this visa is suitable for companies operating in Dubai’s free trade zones.
For compliance, speaking with a business setup consultant or legal expert is advised because visa requirements and costs differ.
Handle compliance and customs
Running an import-export company in Dubai necessitates rigorous adherence to legal requirements as well as a brief understanding of customs regulations.
All imported items must be declared to UAE Customs in order to determine the relevant taxes and duties. In order to calculate applicable tariffs and duties, it’s also critical to correctly classify goods using the Harmonized System (HS) codes. Inaccurate classification may result in fines and delays at the customs office.
To make financial transactions for import-export operations more efficient after you receive your license, think about opening a local business bank account.
Experts in Dubai’s import/export procedures, such as freight forwarders or customs brokers, can assist you with handling all paperwork and expediting the customs clearance process.