Healthcare or Medical business is rapidly booming at every corner of the world, and the United Arab Emirates is not immune to this fever. The people in the UAE lead a hectic work and social life. As per a survey conducted by the World Health Organization (WHO), one in three adults in the UAE is obese, and one in five has diabetes. Thus, it is now vital to provide a standard health care facility to the citizens of the country. The government has simultaneously taken many initiatives to help bring the ultimate solution. A special free zone mainly for the healthcare sector has also been launched, known as the Dubai Healthcare City. The healthcare department of the country has increased significantly in the preceding few years with the aim to provide top class diagnostic and treatment facilities to the citizens.
The government of the UAE is doing all that it can to woo medical tourists in the Emirates by rendering exceptional healthcare facilities. The UAE has a lot of benefits that help in the development of the healthcare facility. The country has an excellent infrastructure and a well-built transportation and logistics facilities that help in connecting people from all parts of the world. In addition to this, the Emirate has also adopted an innovation-driven approach for boosting the healthcare industry. All of this and many more provide an excellent opportunity for setting up a medical business in Dubai.
Business Setup in Dubai Healthcare Sector
There is no standard formula for starting healthcare business in Dubai. To register the business, and become a part of this extension it is, of course, crucial to guarantee your company is established correctly. This involves identifying the target market for your company and securing the required approvals to conduct business. While the Ministry of Health will oversee all businesses, in Dubai, the following are the incorporation options and regulatory bodies are available:
Incorporating company in Mainland Dubai can be done by the Department of Economic Development (DED) Dubai. DED allows your business to be located anywhere in the Emirates. You can build a healthcare business is an area with low leading costs or in proximity to where your target demographic resides. The steps to establish this business are as follows.
- Research on the business entity. You can either set up an LLC which will require a minimum 51% to be owned by a local sponsor, a branch of a foreign company, which is a wholly-owned subsidiary of the parent company, or a sole proprietorship, where the individual owns the liability. In the case of a Sole Establishment or Foreign Branch, a Local National Service Agent (NSA) is required
- Register your business name. This too can be done via the DED.
- Apply for primary approval. At this stage, you are supposed to know the shareholders and general manager of the entity. You must submit the forms to the department, and you will be required to produce passport copies of all concerned business people, and constitutional documents for corporate shareholder
- Apply to the Dubai Health Authority (DHA) for approval. Once the application to start a company is underway, an investor will need to address the DHA for approval to perform the necessary business activity. The DHA approval process will change depending on the nature of the business you wish to undertake
- Gather the documents and submit the same
- Get the final approval from the DHA. Once the execution of the incorporation documents, the DHA are required to inspect your facility to ensure compliance with their regulations.
- Issuance of license from DED and DHA. Once all the approvals are granted, your business license can be issued, and the process of on-boarding staff and operating your business can begin
Once all the approvals are granted, you can start your business in Dubai Mainland.
Dubai Free Zone
A separate free zone is dedicated to the healthcare business known as the Dubai Healthcare City (DHCC). It was started in the year 2002 to meet the demand and high-quality, patient-centred healthcare. DHCC aspires to provide world-class care for the UAE resident and make Dubai into a hub for medical tourism. The advantages of setting up a business in the healthcare business in Dubai are as follows.
- 100% foreign ownership
- Zero income or corporate taxes for fifty years
- Zero customs duties for goods or services
- A range of tailored-made solutions
- An excellent base to help with others working in your field
Why Start a Business in the Healthcare Sector in Dubai?
Being a developed and modern city, the population in Dubai is health-conscious and physically and financially strives to acquire the best healthcare products and services. There is immense scope for starting a Healthcare Business in Dubai if you have a basic knowledge of business setup in the UAE. Few more benefits of business in this sector are as follows-
- Supportive business environment
- Unlimited avenues for investments
- Tax haven
We at Commitbiz help many companies set up in Dubai and the UAE and can provide invaluable guidance and expertise when navigating the business climate. For assistance with setting up a healthcare business in the UAE, or expanding a global company, contact us for further information.