Steps to start an export business from India to Dubai 2023
If you are considering starting an export business from India to Dubai, this is a great time to do it. The UAE is well-known for its oil wells, seven-star hotels, wealth, business streets, and vast desert lands. Imports of goods and services into Dubai account for 68.48 percent of GDP. With such large numbers, Indian entrepreneurs, investors, and businessmen stand to gain significantly from doing import-export business in Dubai. In this article, you will learn everything about how to start an export business from India to Dubai. Let us observe: 1. An overview The import and export business is an industry that meets the demand and supply for goods and commodities across jurisdictions and countries. As a result, import-export licenses are in high demand. They define an import as a commodity that is brought into one country from another. It is a product of the sending country. A commodity exported is one that is sent or transferred to another country. In the receiving country, it is an import. International trade refers to the exchange of goods and commodities. Hence, international trade has had a significant impact on the UAE’s economy. Many investors look forward to doing business in the UAE, as it has great relations with several countries. This is why it has become in the main hub for international trade in the Middle East. Starting an export business from India to Dubai is therefore a popular business venture. This business is popular for the following reasons: For foreigners, it is really easy to start a business. It is strategically located between the continents of Asia, Europe, and Africa. People can easily travel to and from anywhere in the world. This is because of its location. The UAE is in the center. It has excellent global connectivity via air and sea routes. It has an excellent time zone, allowing for seamless coordination and trade with both Eastern and Western countries. 2. Dubai import and export business license Import-export firms must apply for a trade license and register their export business from India to Dubai. To do so, you must submit an application to the Department of Economic Development (DED). Import and export businesses must obtain a Commercial License and register as a Limited Liability Company (LLC). 2.1. How much does an import-export license in Dubai cost? The following are the import-export license fees in Dubai for a few Emirates in the UAE: Dubai: an import-export license will cost around AED 24,000 in Dubai. In Sharjah, you will have to pay around AED 23,000 and up for this license. The license will cost AED 24,000 in Ajman (approx.). The license will cost AED 20,000 in Ras Al Khaimah (approx.). Please keep in mind that the figures discussed for Dubai import-export license fees are estimates and may vary depending on your specific business needs and operational activities. Hence, the Dubai import-export license fees are determined by the territory from which the business is conducted, as each authority has set its own fee for obtaining the license. 3. What documents are required to obtain an import-export license in Dubai? You must submit the following documents for applying for the license: Options for trade names Commercial activity. All shareholders’ passports have been copied. Partner’s UAE residence visa (copy). They will require a copy of the entry stamp or visa page; this is in case the partner is on a visit visa, Copy of local sponsor’s passport and Emirates ID 4. How to begin an export business from India to Dubai? All companies doing business in Dubai must follow specific regulations regarding business setup, business license, company naming, business activities, and more. This section will walk you through the steps of starting an export business from India to Dubai. 4.1. Collaborate with Connect Services Middle East The first step in launching an export business from India to Dubai is to join forces with Connect Services Middle East. Our professional services will handle all aspects of your import-export business license, company registration, and setup process, allowing your import-export company to trade legally. Hence, we will also assist you with all Dubai customs documents required by this government agency, as well as obtain external approvals on your behalf. 4.2. Select a trading name Secondly, we will assist you in deciding on and registering your company name with the UAE Registry Office. You may use your name in the company’s trade name, but it must be used in its entirety rather than just your surname or initials. In addition, the business name must adhere to the UAE’s naming policies, which include the prohibition of offensive or profane language, as well as references to Allah or Islam. 4.3. Determine your trade license’s business activity Thirdly, outlining your import-export business activities is required for your Dubai import-export business license. Your import business license allows you to carry out several activities that the Dubai Department of Economic Development (DED) has specifically defined for this business and company type. Penalties may apply if you fail to list all of your business activities. To align your license application and business activities, it is best to work with a company formation expert like us. Additionally, we can help you get your trade license. 4.4. Establish the legal structure of the company In Dubai, all import-export business categories require an import-export business license. The legal requirements of the UAE government for this type of company structure require a local sponsor to collaborate with a foreign entrepreneur or investor. The local sponsor must be an Emirates citizen and own at least 51% of the import and export company. When trading in UAE customs territory, export-import business owners must apply for a Commercial License and register their company as a Limited Liability Company (LLC). According to the Dubai Customs agency’s legal requirements, company structure laws require foreign entrepreneurs and investors to apply for a business license from the Dubai Department of Economic Development (DED). After obtaining their trade licenses, these companies must register as an import-export
