The roots of any business can be easily incorporated, and tasks can be carried out in the most suitable global business destination, Dubai. Serves an open ground for multiple business industries, the region has set its target forward to pave out new ways to uplift the medical industry. According to the latest reports, Dubai has set its arms open to welcome doctors and dentists from ten different nationals. Starting a medical business in UAE serves as a smart investment option, and the recent initiative will uplift the potential to a great extent. If you are planning to start a business in the UAE, then you can surely move ahead with the medical industry.
An Initiative by Dubai Healthcare City (DHCC)
A destination dedicated to the healthcare industry; Dubai Healthcare City has been established to uplift the healthcare sector in the UAE. The DHCC stands as one of the top free zones in Dubai, which serves to be home to multiple divisions of the healthcare industry that includes healthcare, medical education, research, pharmaceuticals, medical equipment, wellness and allied support services. The DHCC is responsible for delivering the healthcare license required for the medical business incorporation process.
One of the strategic moves that have been taken by the DHCC is to welcome more doctors and dentists from ten new regions. At present, the DHCC community has got more than 4,200 licensed professionals from 111 countries, with diversification of 40+ languages. The ten countries taken into consideration for DHCC framework includes:
- West Africa and the West Indies
The move will increase the demand for medical centres, and as a result, the business opportunity in the healthcare sector will shoot up. If you are planning to start a healthcare business in the UAE, then this is the right time to go ahead with it. The region of UAE provides multiple locations where you can start a company such as:
- Sheikh Khalifa Medical City
- Dubai Healthcare City
- Sharjah Healthcare City
Let’s move forward and see the process of incorporating a healthcare business in Dubai.
How to Start a Healthcare Business in Dubai?
It is important to note that the DHCC provides the following option for business entity types, namely, Free Zone Limited Liability Companies and Branch Office.
Pre-Requisites of Starting a Healthcare Business in Dubai
Absolute essentials that are required to be kept handy before you go ahead with the incorporation process are stated below:
- A minimum capital of AED 300,000 to start a free zone company
- A minimum capital of AED 50,000 to open a commercial office
- Filled application form for the business license
- Drafted Memorandum and Articles of Association
- Passport and Visa of the shareholders
Steps to be Followed for Starting a Healthcare Business in Dubai?
To incorporate the healthcare business, the following steps are to be taken into consideration:
1.Select the Appropriate Business Structure
The first task is to select the appropriate business structure. Based on the business requirements, you need to need to select a suitable structure. An LLC is the most opted business structure that demands a local sponsor to hold 51% of the company shareholders, and the rest 49% will be held by the owner.
2.Reserve the Company Trade Name
In the next move, you need to decide the company trade name, and it is to be done via the Department of Economic Development (DED).
3.Select an Appropriate Location
Location matters a lot when it comes to business incorporation. Before you proceed towards acquiring land via Government or local party, you need to make sure that the location is easily accessible.
4.Apply for DED initial Approval
To acquire the initial approval from the DED, exact information regarding the shareholders needs to be presented to the respective department.
5.Apply for DHA Initial Approval
Another approval that you need to look for is to acquire the initial DHA approval. All the necessary documents need to be submitted accordingly as required. The approval process will depend on the nature of your business and its related activities.
6.Obtain the Respective Licenses from DED and DHA
Finally, after obtaining the approvals, you need to collect the respective licenses from both DED and DHA. Once you have obtain the same, you get a green signal to carry out the business activities and acquire the respective staff according to the business needs.
Now, you can see that the complete incorporation process turns out to be a tedious one if one is not friendly with the legal and incorporation proceedings. The best and smart way to carry out the process is to have a word with a business consultant who can understand your business requirements and help you to incorporate the same in a hassle-free way. At Commitbiz, we provide an entire range of business incorporation process, and has been helping multiple clients across UAE to carry out the business setup tasks. Our business experts are well-versed with the business tasks, and can cater customized solutions according to your business needs. In case you hold any query or doubt, feel free to contact us-we’d be glad to assist.