Dubai’s rapidly growing healthcare industry provides incredible opportunities for entrepreneurs. World-leading hospitals, state-of-the-art medical supplies, and healthcare practitioners use the latest medical technologies to increase the healthcare of the United Arab Emirates’ citizens and residents. How to start a medical supplies business in Dubai comprises several essential steps.
In this article, we’ll look into the following:
- How to start a medical supplies business in Dubai: Step-by-step
- Cost of opening a medical supplies business in Dubai
- How to get customers for a medical supplies business in Dubai
- Why work with Trade License Zone to start your business in Dubai
The healthcare industry in Dubai and the wider UAE is undergoing a remarkable transformation, driven by substantial government investments and increased demand accelerated by the global COVID-19 pandemic. This burgeoning landscape presents an enticing opportunity for entrepreneurs and investors in the medical supplies sector.
Dubai’s business-friendly environment, coupled with its strategic location and supportive regulatory framework, has positioned it as a prime destination for those seeking to establish and expand their medical supplies businesses.
However, navigating this sector entails adhering to specific regulations, with oversight from both the UAE Ministry of Health and Prevention (MOH) and the Dubai Health Authority (DHA) required for businesses to trade medical supplies. This approach ensures the quality and safety of medical products in Dubai’s thriving marketplace.
How to start a medical supplies business in Dubai: Step-by-step
Step 1: Partner with Trade License Zone
Partner with a business setup specialist such as Trade License Zone. We simplify the process of starting your medical supplies business in Dubai. Our professional team is on hand to quickly and efficiently get your company incorporated and legally compliant. We’ll support you throughout the process of obtaining a commercial trade license until you are ready to begin trading – and beyond.
Step 2: Choose a legal structure
When starting a medical supplies company in Dubai, you must choose a legal structure for your company. Opting for an LLC with the UAE Department of Economic Development (DED) is the most straightforward option for this particular industry. This defines your business’ jurisdiction, business activities, and trade license types.
Trade License Zone has guided more than 30,000 businesses in their journeys to opening in Dubai and the UAE. Our specialist team can help you, too.
Step 3: Select a business jurisdiction
Starting a medical supplies company in Dubai requires various government approvals and a commercial trade license. This means that the legal jurisdiction is limited to a Mainland business setup instead of a Free Zone setup. The benefit of setting up a Mainland entity is that it enables you to trade directly within Dubai’s market.
For those unfamiliar with these processes, this step might seem daunting. Trade License Zone’s highly experienced team is on hand to guide you through the entire process.
Step 4: Reserve your business name
Selecting a company name in Dubai entails navigating a strict procedure. The UAE’s Registry Office administers this process: trade names must avoid offensive or blasphemous language and should not reference Islam or Allah. Opting for a personal name must be in its full form, without abbreviation. To ensure compliance, you must submit three prospective trade names for availability checks. Trade License Zone offers expert assistance during this intricate step, guaranteeing that your chosen names adhere to the established regulations.
Step 5: Choose your business activities
Trade licenses are mandatory for all businesses in the UAE. Before selecting a trade license type, you must choose the business activities your company will conduct, such as Medical Equipment Trading, Medicines Trading, Mechanical and Engineering Equipment Trading, Medical and Surgical and Requisites Trading, and Medical, Surgical Equipment and Instruments Trading.
Your chosen business activities must align with your trade license type. Failure to select suitable business activities for your trade license may result in severe fines from the UAE government if your business carries out any unlisted business activities.
We at Trade License Zone will guide you through this complex step.
Step 6: Registering with the relevant health authorities
You must register all the medical supplies you wish to trade in Dubai with the UAE Minister of Health and Prevention and the Dubai Health Authority. These authorities must approve all medical supplies before they can be imported and traded in Dubai and the UAE.
Step 7: Rent office and warehouse spaces
In the case of a Mainland business setup, you have flexibility in renting office and warehouse spaces. However, the DED must approve your offices and warehouse space for all medical supplies businesses in Dubai. Dubai boasts office and warehouse spaces of different sizes and amenities to suit every budget and business need.
Step 8: Apply for Initial Approval
Applying for Initial Approval is the second most crucial step in this process. The DED must grant Initial Approval for your medical supplies business, and this process involves submitting documents, such as your passport, visa, business plan, rental agreements, registration certificates, and more, to the DED for review and approval.
Step 9: Apply for your trade license
Once your company’s Initial Approval certificate is issued, you can submit your commercial trade license application to DED for approval. You must submit your trade name reservation certificate, rental agreements, initial approval certificate, supporting documentation per the application requirements, and a completed trade license application.
After your trade license application has been approved and you’ve paid for your trade license, you can open a corporate bank account and begin trading your medical supplies business in Dubai.
With decades of expertise, Trade License Zone can assist you from start to finish, saving you time, effort, and money.
Cost of opening a medical supplies business in Dubai
The cost of opening a medical supplies business in Dubai is AED 20,000 – AED 25,000. This figure includes the cost of obtaining your commercial trade license to start a medical supplies business in Dubai. Other costs you must factor into your planning are government fees, additional business setup costs, office and warehouse space rentals, and more.
How to get customers for a medical supplies business in Dubai
To attract customers to your medical supplies business in Dubai, consider leveraging LinkedIn’s powerful tools. Use targeted LinkedIn ads to reach a broad audience while also running LinkedIn Sales Navigator campaigns to connect with key decision-makers in healthcare institutions in Dubai. This combination of broad reach and focused engagement can help you establish valuable connections and expand your customer base effectively. Additionally, attending relevant healthcare industry events and establishing partnerships with local healthcare providers can further enhance your visibility and credibility in the Dubai market.
Why Work with Trade License Zone to start your business in Dubai
When starting a medical supplies business, Trade License Zone is your trusted partner in business setup in Dubai. Our expert team provides guidance and support for you and your business from start to finish. We’ll streamline the legalities, from trade name selection to opening your first corporate bank account, visas, trade licenses, office and warehouse spaces, and more.
When you partner with Trade License Zone, you won’t be navigating your entrepreneurial journey solo. Our team is dedicated to transforming your vision of establishing a thriving medical supplies business in Dubai into a successful reality. Contact us today to start your business in Dubai!