Pharmaceutical Business Setup in Dubai Mainland
Due to the COVID-19 outbreak, the pharmaceutical industry is rapidly developing around the globe. In addition, this industry is one of the fastest-expanding sections in the retail industry. There are many factors why the healthcare industry is so profitable in Dubai and the UAE. However, the pharma industry in the UAE requires an in-depth understanding of the Ministry of Health’s protocols and requirements. In this article, you will learn everything about how to set up a pharmaceutical business in Dubai Mainland. Therefore, make sure to read the important information about the documents and all tasks involving the setup process. However, also learn about all the advantages of setting up this type of business in the UAE. Let’s observe: 1. Pharmaceutical Industries Pharmacies are one of the most popular places in malls and are also among the rapidly rising areas in the local retail sector in Dubai and the UAE, both residential and commercial. However, some of the newest pharmacies are part of a wide local or CGG branch of international brands highly popular. Individuals wanting to establish a pharmacy in Dubai or the UAE may take advantage of brand name popularity and links to broad supply chains. Some business partners like C-UAE will assist you to choose a property based on a detailed market analysis. However, the selling of pharmaceutical goods in the country is allowed to both UAE nationals and foreigners. Nonetheless, they must register with the government bodies in charge and comply with the UAE laws and regulations. Business setup is sometimes an expensive process, learn about our guide to launch a low-cost business in the UAE. In other words, the government is working to guide medical tourists to the UAE by offering the best infrastructure and healthcare facilities. The country is strategically located to become the transport network by linking people from different countries. These important factors are one of the best options for why individuals want to Start a Pharmaceutical Business setup in Dubai. 2. Advantages of setting up a Pharma Industry in Dubai Mainland Healthcare Tourism: Dubai’s physical location has made it an easy choice when it comes to medical tourism. This practice has been continuously attracting international investors and entrepreneurs every year to a large extent. Full ownership of the company: you obtain full control of the business’ share when you start a business in the medical sector in Dubai. However, you can always take back the income earned and the amount invested if you opt for company liquidation. No Corporate Tax: the exemption of corporate tax for almost 50 years is one of the most motivating factors for investors and entrepreneurs to set up a pharma industry in the UAE. No Customs: you are relieved from custom duties when you start a medical company in the UAE. Strategic Location: the city grants investors several options about location. These options such as Mainland and Free zones were created to meet the needs of the different companies appropriately. In addition, the Dubai Healthcare City (DHC) is a dedicated free zone for healthcare and medical businesses. Multiple Collaboration: when it comes to businesses working in every domain, the location of the city is the best. Likewise, it is easy for companies in healthcare and medicine to work with other firms. 3. Why establish a pharmaceutical company in the UAE? Since the last decade, the UAE has grown massively in the pharmaceutical and medical industries. For existing firms and business entrepreneurs, it is one of the best destinations to establish their company. Here is a list of the key factors that make the UAE a good destination: The government has put into practice different measures to make the medical industry grow. A link for neighboring countries to join. Presence of the best business hubs for pharmaceuticals. The massive infrastructure of networks and transports streamline the different business operations. The unique opportunity to partner with the different MNCs. The adaptability of new technologies in the medical and pharmaceutical sector. The biggest center managing diagnostic equipment. The country has a strong relationship with important equipment businesses in the United States. The country offers several options for setting up a business such as Mainland and Free zones. 4. What is the difference between Mainland and Free Zones businesses? For businesses operating in the United Arab Emirates, there are 2 main jurisdictions: Free zones and the Mainland. These jurisdictions feature a different set of rules; therefore, companies must have a full understanding of them to construct a good business strategy. Free Zones These special economic zones were created to improve the country’s economic activities by giving profitable tax and business incentives to potential investors and entrepreneurs. However, businesses located in this area are not able to sell their services or products outside the region. Mainland Businesses located in the mainland jurisdiction can provide services and trade anywhere within the UAE and internationally. The UAE has many advantageous places to start your business, learn why you should setup your business in Dubai Mainland. 5. Things to have in mind before starting in the pharma industry in the UAE However, before you submit your application and gather all the necessary documents, you must consider the next key factors: Location: the location of your company is crucial and it will condition your clients and income. You or a consultant partner must perform an in-depth investigation on similar companies in the area to examine the market you are entering. Competitors: you must extensively examine your competitors will make you learn the products and goods they offer to their clients. Size and Oversight: it is important you ensure your company meets the minimum requirements. In addition, a licensed pharmacist must manage the business and needs to be present at all times. 6. How to start a successful pharmaceutical distribution business? Planning This is the first part of the process of how to do a Pharmaceutical Business setup in Dubai. This step is when you plan the foundation of your business. You can
