Healthcare is a booming industry the world over. Modern healthcare is no longer restricted to medical treatments; it has spread to varied streams like wellness and looking & feeling good.
Dubai has superior healthcare services in both public and private healthcare streams. With the availability of specialized Freezones and modern infrastructural facilities, setting up a business in Dubai healthcare makes absolute sense to a large number of business owners. Dubai healthcare business setup presents itself like the opportunity knocking at your door.
Dubai Healthcare City (DHCC) is one such government organization which empowers you with setting up your business in Dubai healthcare. DHCC is called the health and wellness destination of the Middle East.
DHCC Investments is broadly divided into two categories.
- The Medical community: It is spread across 4.1million sq. feet (i) and has a host of hospitals, Outpatient clinics, commercial offices, and other retail spaces.
- The Wellness community: It is spread across a massive 19 million sq. feet.
Types of businesses in Dubai healthcare city:
There many areas where you can look into investing in terms of commercial & retail spaces and wellness. We are listing these down to make it easier for you to comprehend.
- Clinical outpatient: This includes setting up an outpatient facility in a multispecialty hospital, outpatient surgical clinic, and single specialty clinic, diagnostic centers (radio diagnostics and clinical laboratory), clinical research center, stem cell therapy center, and pharmacy.
- Health care support: Medical transcription, medical coding, and medical billing services, patient education service and third-party administration.
- Healthcare management: This can also be healthcare investment management.
- Clinical inpatient: This includes general hospital, specialty hospital, palliative care, nursing home, rehabilitation, and long-term care, geriatric care and hospital teaching positions.
- Professional and management development training: Continuing professional development, educator’s professional development, human resources training and development, social and behavioral training and development and management training.
- Higher education providers Like medical universities, Branch University, junior college, and technical education provider.
- Healthcare consultancy: Healthcare architectural & engineering consultancy, healthcare medico-legal consultancy, healthcare strategy, and planning consultancy, IT management and system integration and clinical research organization.
- Child skills development training: This includes solely child skills development center
- Technical and occupational skills: Hospitality and tourism training, tourism training and healthcare awareness training.
- Educational service provider: Student support and academic support services
- Publishing: Publishing of manuals, guides, catalogs, books, and magazines
- Academic service provider: This includes university representative office and academic liaison office
- Association(non-profit): Professional association
- Non-academic service provider: Largely functioning as an infrastructure provider
- Executive research
- Outsource: Outsourcing of professional support
- Event management Organizing business events, festivals, and exhibitions
- Regional headquarters: Marketing office, call center office, back office, and admin office
- Research and development
- In the case of a branch, there is an additional category of hotel and leisure service which includes, hotel accommodation, hotel administration office, and guesthouses.
Business set up in Dubai -Process
The process of company formation in Dubai under DHCC is largely dictated by two variables
1) Type of business 2) Ownership patterns.
Type of business can be either Freezone LLC (Limited Liability Company) or Branch.
The ownership pattern applicable in Dubai company formation can be 3 types mainly.
- Ownership by corporate only
- Ownership by individual only
- Ownership by individual &corporate
The list of documents that need to be furnished to Dubai Creative Clusters Authority for establishment and registration in the Dubai Healthcare city can vary from the business type and ownership type.
On a broad level, the following documents are required for Dubai healthcare business set up.
- Board resolution Freezone LLC for a corporate shareholder
- Board resolution FZ LLC- individual shareholder
- Personnel sponsorship agreement
- Application for license.
- Articles of association (required in case of a corporate)
- Memorandum of association (required in case of a corporate)
- Registry identification Coder(RIC) form- corporate (required in case of a corporate)
- RIC form- Natural person
- Checklist of legal documents to verify FZ LLC combination/for a branch.
For a free zone limited liability company, the business set up process takes place in 8 steps. For a branch company, the process is of 7 steps only.
The detailed process Dubai company formation in DHCC is described below
- DHCC provides information to the applicant: This can be via their website, sales brochure or directly through sales tele-helpline.
- The signing of the reservation agreement: The applicant signs the reservation agreement and pays the admin fee and about 10% of annual rent (ii) to confirm the reservation of the place.
- Application submission for provisional approval: Once the applicant submits the application, the DHCC reviews it and gives a provisional approval or a rejection. This response takes about 2 weeks’ time. In case of rejection, the 10% annual rent is refunded. The process continues for provisional approval
- Legal documents submission for company registration: Following provisional approval, the applicant must submit legal documentation as per checklist. Applicant must also pay registration and license fee.
DHCC then takes about 2 working days to review the legal documentation
- The signing of the article of association and memorandum of association and deposition of share capital (not an application for the branch).
- Commercial license and legal agreement issuance by DHCC 2-5 working days
- The signing of a commercial license and legal agreement in DHCC office
- Transfer to Partner relation manager for lease renewals, expansions etc.
Minimum capital requirements: Freezones LLC in Dubai healthcare city have a minimum capital requirement of AED 300,000 for clinical and AED 50,000 (iii)for commercial. Branch establishments have no minimum capital requirements.
Company formation in Dubai healthcare city has advantages galore. In case you plan to set up in a free zone you get the advantage of 100% tax-free (no income tax, no customs duty, no corporate tax). You also get to have 100% ownership of your business.
There are attractive low operating costs, state of the art facilities and modern superior infrastructure to harp on. There are no bureaucracy and excellent business support services in Dubai to compliment your business set up in healthcare city.
However, in complicated and niche area such as healthcare, it is advised to seek the assistance of Commitbiz business consultants. At Commitbiz we are fully versed with not just licensing & registration procedures, but also are aware of field-specific business nuances of company formation in Dubai. We have guided multiple business owners to successfully set up business in Dubai healthcare city.
To get in touch, contact us today to materialize your ideas into successful business ventures.