If you’re looking for a new setup and your background is related to the medical field, medical equipment company is the best option. There are numerous benefits to starting this type of business, including higher margins, overall revenue, and larger profit margins than any other type of business venture.
Requirements to Start a Medical Equipment Trading Business in Dubai?
The main requirement to start a Medical Equipment Trading Business in Dubai is to have a valid UAE residency. Other than that, the documents required are:
- Residency visa
- Passport with visa
- Health insurance card
- National ID card (for non-residents)
- Copy of Emirates ID card (for residents)
- You must have a minimum of 5 years of experience in the medical sector.
- Bank statement for at least six months, showing income from trading
- You must have a valid license or certificate from the relevant licensing authority, issued by the Department of Economic Development (DED).
- You must have a valid business license and register it with the concerned authorities.
- You must have adequate financial resources to run your business and meet all statutory obligations.
- You must be able to provide proof of age and identity documents for yourself, your partner, and any employees who will be working with you on the business premises.
Type of License Required for Medical Equipment Trading Business in Dubai?
A medical equipment trading business in Dubai requires a type of license from the Dubai Health Authority (DHA).
The DHA has several different types of licenses that are required for any business or trade in the city. These include:
- Medical Equipment Trading Business License:
This license is issued to any individual or company that trades medical equipment and other medical supplies. The applicant must have an active bank account in the UAE and evidence that they have been operating successfully in their field before they can apply for this license.
- Private Medical Equipment Trading Business License:
If you wish to trade medical equipment but are not interested in dealing with patients, then you will need this type of license. You will be able to sell your products and services directly to patients, but only within the confines of your premises or premises owned by you.
- Private Medical Supplies Trading Business License:
This license allows you to sell your products and services directly to patients and other healthcare professionals such as doctors and nurses. Your customers must be patients who are registered with one of your customers who has already been licensed under the Private Medical Equipment Trading Business License category.
- Business License:
This is required for any business that deals with products or services that are related to medicine and health care. This type of license is issued by the Dubai Trade Licensing Office (DTLO). The business license can be obtained from DTLO by paying the fees and getting your company registered with DTLO. You need this business license if you want to run your business legally in Dubai or any other country where you plan to operate your business.
- Trade License:
This is also known as a “Manufacturer’s License” which is required if you want to export your goods outside Dubai. This type of license is issued by the Dubai Customs and Trade Center (DCTC), which issues it after verifying that all necessary documents have been submitted by an applicant company and its foreign partners before approving it for export outside UAE borders.
How to get a License to Start Medical Equipment Trading Business in Dubai?
If you are interested in starting a medical equipment trading business, you need to get a license from the Dubai Department of Economic Development (DED). This is required by law and will help you operate legally.
The process of obtaining a license is quite complicated, so it’s best to start with an application and then work your way through the process.
There are three main options when applying for a trading license:
- Holders of existing licenses or businesses who have completed at least two years of operation can apply for an entrepreneurship license from DED. This requires proof that you have been operating for at least two years, as well as evidence that your business meets all legal requirements and has been operating within Dubai’s borders.
- New entrepreneurs who want to start their businesses can apply for an entrepreneurship license from DED after completing their first year of operation as a sole proprietor (if they’re not already). The application process includes providing details about the company, its proposed activities, and any relevant experience or qualifications held by its founder/s.
- In some cases, new entrepreneurs may be able to apply directly to DED without having first obtained an entrepreneurship license from DED.
Benefits to Start Medical Equipment Trading Business
Dubai is a perfect place for the medical equipment trading business.
There are many advantages to operating a medical equipment trading business in Dubai. The following are some of them:
- Low Cost: It is one of the reasons why people prefer operating a medical equipment trading business in Dubai. You do not have to spend much on buying and maintaining an office or warehouse space. You can use a small space and start your business within a short time with minimum investment.
- Low Taxation: The salary tax for employees is very low in Dubai because there is no income tax for employees who have an income from their businesses, including those based on rental income, interest income, and commissions earned from sales made by them. This way, you will not have to pay any taxes on your salary or any other type of income earned by you as an employee in Dubai.
- High Profits: The profit margin of medical equipment is very high, which attracts many people to invest in this business.
- No Capital Required: You don’t need any capital to start medical equipment trading business in Dubai, as the vendors will provide the equipment at a discounted price and you just need to purchase it from them after getting it inspected by a professional engineer or technician and get it insured by a reliable insurance company (like Allianz).
- No Risk: As most of the vendors are local, there is no risk involved if you buy from them directly instead of going through an agent as they will be able to give you the best price for their products due to their relationship with their suppliers.
- Lucrative business: Medical Equipment trading business is a lucrative business that can be run from home. This helps to save time and money by not having to travel all over the place, sometimes just as much as half of your day!
- Growth of the medical industry: The medical industry is growing at an exponential rate, so there is always a need for new equipment, which means there will be plenty of customers looking for you!
- High in Demand: There are tons of opportunities for growth in this area because more people are becoming aware of the benefits of using these types of products, so demand is high!
Read More: How to Start Daycare Business in Dubai
How to Start Medical Equipment Trading Business in Dubai?
Starting a medical equipment trading company in Dubai is a profitable business venture that can be started by people with a good knowledge of the medical equipment market, sufficient capital, and the right connections.
- Conduct market research to identify the types of medical equipment that you can trade in the UAE.
- Prepare a detailed business plan to find out how much you need to invest in your business.
- Choose a trading name for your business and register your company with DED.
- Get a valid license from Dubai Municipality.
- Lease an office space and set up your office.
- Get all the necessary equipment needed to run your business.
- Hire competent staff members who will help you run your business effectively.
- Establish relationships with suppliers and bring in stock for sale.
- Market and advertise your products to reach out to customers and sell your products at highly competitive prices.
Start your Medical Equipment Trading Business with AIG Corporate Services Provider
Are you looking for a way to start your own medical equipment trading business in Dubai? We have the right solution. AIG Corporate Services Provider helps you to set up your own medical equipment trading business in Dubai, under the guidance of experienced experts. We have helped many people like you to start their businesses and we are here to help you as well.
We have extensive knowledge of how to run a successful trade and provide you with the best services possible so that you can succeed as well.
For further help please contact us.
We hope that this has helped answer some of your questions about how to start a company in Dubai, LLC, or a branch office.
Medical equipment trading companies in Dubai can do an array of things such as imports, exports, and leasing. The UAE is not just a hub for medical equipment manufacturers but various other vital industries that make the business world go round. A trader in Dubai needs to understand all the factors of trading in the UAE before venturing into this business sector. The companies that deal in this field need to understand the market demand for medical equipment in the UAE and its requirements accordingly. If you are planning to Start a Business in UAE, then you should get familiar with the market trend of medical equipment trading. This will help you understand your target audience better and what they’re looking for when they buy such units.