Dubai is one of the happening places in the United Arab Emirates (UAE). Not only is it perfectly placed to do business with both established and emerging markets in Europe, Asia, Middle-East, and Africa, it is also an ideal hub from which one can trade with all corners of the world. This position is only strengthened by extensive road, sea, and air links. One of the major businesses that help is Dubai’s economy is the import and export business. During the last few years, Dubai import/export business has been one of the most profitable companies to invest in.
One of the best infrastructures, along with the UAE's position, makes Dubai extremely popular for export and import business. Moreover, the Dubai government has stated providing e-services to the import and export business in Dubai in order to help function smoothly and efficiently.
Import/Export Business in Dubai
Dubai import is the process of bringing products into the UAE from all around the world from one of the Emirates free trade zones or vice versa into free trade zones from the UAE mainland while matching the legal necessities of the country in terms of licensing and documents as well as permissions.
Dubai export is the guiding principle of carriage commodities as well as services of locally produced to other countries or among free trade zones of UAE and companies of the mainland as pointed out in the above lines.
Products in Import/Export Business in Dubai
The list of products allowed in import and export business are as follows-
- Crude and refined petroleum which is the widely exported commodity in the Emirates
- Diamonds, Gold, and other types of jewellery are also on top of Dubai's trading list
- Automobile and different types of transport equipment
- Broadcasting and media equipment
Import/Export License Procedure in Dubai
Dubai Customs has an online declaration and clearing system called Mirsal 2. It is an online portal that provides user guides for registration and how to get started with the import/export business in Dubai. The process of business registration can be done online, and the documents must be handed over to the Customs Officer in person. To check whether the exported or imported products fall under the forbidden category, the Customs Office does a thorough check as well. To acquire the rights for export/import activities, businesses must own a license. Here’s how you can get the license to trade goods and services in and out of the UAE.
Procedure for Export License
If an investor wants to indulge in exchange of products and services manufactured regionally in a country or among the free trade zones of the Emirates, they must acquire an Export License. The Ministry must approve the license and here are a few things you must keep in mind.
- Submit the required documents at the Customs Office
- Declaration registration payment for export must be made at the Customs Office
- Customs Declaration Certificate is provided by the office
To follow these steps, a few documents must be submitted. They are as follows-
- The licensing department must give the company an accredited Export Declaration Certificate or the Instructions of the Declaration of Goods Application (IDG) as it is necessary during customs point of entry at the airport.
- If products exported falls in the prohibited list, the exporter should have a grant from the regulatory agencies.
- A Sales invoice rendering the description of goods, quantity, and value of each piece is required from the business. An invoice should be addressed to the business outside the UAE
Procedure for Import License
If you have an import license, you will be allowed to get any commodity inside the UAE from other countries. An entrepreneur needs to keep in mind the following things-
- Bill of Lading must be provided, and the importer must pay all the fees
- The shipping agent will give the delivery order 3-4 days previous to the arrival of the vessel, and the cargo clearance completion must occur within this period
- The Import Declaration form must be provided online, where the importer must make all the required payments. Post this the company will be given a Customs Import Declaration Certificate
- Before providing the products to the cargo, Dubai Customs will check all the required documents and even the container at some instances
- Post a go-ahead from the Customs Department; the importer can designate a transport company to receive the delivery of commodities
- However, in case of any extra review, the vessel will go to the inspection area of the competent authority and only after receiving a clearance from them can the vessel exit the propositions
The documents required to follow the aforementioned steps are as follows-
- An invoice detailing the description of the total quantity of products and the value of each item directed to the importer
- Certificate of Origin stating the source of goods approved by the nation of origins Chamber of Commerce
- A comprehensive document mentioning the weight of each good in a container, packaging, and HS code for all the products
- Import Permit from the competent agencies if importer in importing restricted goods or duty exempted goods
The procedure can be daunting if you are new to this country. The ideal step is to take help from a business consultant. We at Commitbiz can assist entrepreneurs like you in starting a business in Dubai. We also provide services like business setup services, visa, IP, PRO, and license services. Contact us today, and we will help make your entrepreneurial dreams come true.