Dubai has transformed drastically over the last three decades, becoming one of the major business hubs with a more diversified and dynamic economy. Dubai has a strategic location which serves as the biggest re-exporting centre in the Middle East.
It has excellent infrastructure, international outlook and liberal government policies which are attracting investors.
Dubai's economy has a competitive combination of market, cost and environmental advantages that generates an ideal and attractive investment opportunity for local and expatriate businesses are like.
Dubai is the second-largest economic country in the whole Arab World, with over three hundred and seventy-seven billion. The contribution of the travel and tourism sector of the UAE's GDP was around AED 159.1 billion, resulting in USD 43.3 billion, which is 12.1 percent of GDP.
Dubai has stood as an excellent investment destination for business owners and foreign investors, as Dubai focuses on the core aspects of transformation and innovation. If you are interested in starting a business in Dubai, then you should have an overall idea about the thriving industries prevailing in the region.
To escalate the growth as it would help the economy and contribute more towards the GDP growth the Dubai Healthcare City fees is slashed to lure investment
Overview of the Decision
Dubai Healthcare City Authority (DHCA) promulgated revised fees for various of its healthcare, commercial and research and education contribution.
Dubai Healthcare City's governing body said the initial objective aims to lower the cost of doing business in Dubai, amplifying economic growth in the emirate and future connecting the emirate's position as a destination for choice for investment.
The DHCC free zone has already revised several fees, profiting clients, non-clinical, education and research partners, as stated in the statement.
Issuance's operating permit fees and renewal for close to one hundred and fifty clinical partners majorly hospitals and clinics have been lessened to strengthen patient care and healthcare services in DHCC.
Utilizing permit fees for inpatient and outpatient facilities have been lessened up to thirty per cent and twenty-four per cent respectively, while the diagnostic centre and medical laboratories will profit from at around thirty-two per cent reduction in the permit fees.
Other segments will profit community pharmacy and non-diagnostic medical laboratories.
To strengthen essential support services in the DHCC community such as hospitality, retail, consultancies and other professional training centres and non-clinical operating permit fees have been waived which will be profiting more than two hundred and forty partners in the free zone.
Dr Ramadan AlBlooshi’s view
Dr Ramadan AlBlooshi is the chief regulatory officer of the Healthcare City Authority, whose words upon this matter was “We strive to adopt policies that will benefit our partners and ensure the sustainability of our services at Dubai Healthcare City. As part of the directives of the UAE’s Leadership, fee waivers and reductions have been made to attract investors to the free zone.”
Why Start a Healthcare Business in Dubai?
The UAE has been swiftly growing in the field of the medical and pharmaceutical industry. It is a suitable place for business entrepreneurs as well as for the established businesses to initiate or to enlarge their business.
Here are some reasons to start Healthcare Business in Dubai.
- The UAE provides several options like Mainland, Free Zone and Offshore to establish a business
- The government of Dubai has taken numerous innumerable initiatives to escalate the medical sector. Dubai Healthcare City (DHCC) is one such organization which entitles you with setting up your business in Dubai. DHCC is often called the health and wellness destination of the Middle East.
- Presence of dedicated pharmaceutical hubs
- A gateway to enter the other neighbouring countries
- Robust transport and network system that makes it easy to operate a business
- Opportunity to cooperate with the MNCs dealing in the same segment
- The utilization of the latest technologies in the field of medical
- The largest centre that deals with diagnostic equipment
- The UAE has developed a collaboration with U.S Medical Equipment Companies
The list of documents required for setting up a healthcare business in Dubai
- Board resolution Free zone LLC for a corporate shareholder
- Board resolution FZ LLC-individual shareholder
- Personnel sponsorship agreement
- Application for license
- Articles for License
- Memorandum of association which is required in case of a corporate
- Articles of association which is also needed in case of a corporate
- Registry Identification Coder(RIC) form-corporate which is necessary in case of corporate
- RIC form-Natural person
- Checklist of legal documents to verify FZ LLC combination/ for a branch too.
Dubai is increasing in the medical field. The initiatives taken by the government over the period is escalating the industry more. This presents a vast opportunity for investors to start their business.
If you want to start your healthcare business in Dubai, our experts can help you with the documentation and with the whole process also. Commitbiz, being one of the best consultants in the Middle East are here to support and guide you in every step. For more details, Contact us. We will be glad to assist.