The United Arab Emirates have opened its arms to various industries. The region has always been a dominating player when it comes to oil industries, but with the passing time, it is seen that the non-oil sectors are contributing equally towards the growth and development of the nation. One such sector turns out to be the health care sector, which gives the opportunities to different businesspersons and foreign investors to invest and uplift their business targeting hospitals, pharmacies, private clinics etc. Towards the end of this write-up, you will hold a clear idea and complete information regarding setting up a pharmacy business in the UAE. Let’s start.
Healthcare Sector in the UAE
When it comes to business setup in Dubai, the healthcare sector is no longer in the waiting list. The healthcare industry has been expanding drastically and is expected to be a market of 73.52 billion AED in 2020, and 101.94 billion AED in 2025. By this, we can predict that the sector is going to expand at a drastic rate, which will ultimately give a boost to the pharmacy sector as well. We can predict that the number of pharmacies will exponentially increase in the future. So, if you are planning to set up a Pharmacy business, the UAE is the right target market. However, before starting a pharmacy business, you need to take care of certain essentials. Let’s have a look.
Essentials Required to Set Up a Pharmacy in the UAE
Before you initiate the process of setting up a pharmacy in the UAE, you need to take care of certain essentials which include the following:
- Competitors in the market
- Plan regarding the layout and structure of the pharmacy
- Local Sponsor to avail a trading license
- Initial setup cost would range in between USD 30,000-150000
- According to WHO, there should be a minimum count of 160 clients in the targeted area
The process of Setting Up Pharmacy Business in the UAE
To start a pharmacy in the UAE, certain initial steps are to be followed to complete the company registration process.
- The initial step is to Register and Obtain a pharmacy license from the Dubai Health Authority (DHA) by submitting an application
- Apply to the Health Regulation Department
- Hire a Certified Pharmacist Manager
- Register with the Municipality and Regional Health Authority
Note: To start a pharmacy in the UAE, you need two licenses:
- A License issued by the Dubai Economic Development
- License issued by Dubai Health Authority
Once you complete the entire process of registration, you are eligible enough to open a pharmacy business in the UAE. The next thing that being a business owner you should be knowing is the benefits that you will be deriving after investing in the pharmacy business.
Benefits of Setting Up a Pharmacy in the UAE
- UAE provides multiple options like Mainland, Free Zone, and Offshore to start a business. You can choose one according to your needs
- The healthcare sector is one of the major sectors, which is expected to boost in the upcoming years
- It has got robust transportation and logistics facilities that help in the movement of goods
- Great networking system with the neighbouring countries
Now, you should be aware that setting up a business is a complex process. Proper roadmap and guidance are required from the initial stage. At this point, subject matter experts or professional exports dealing with business incorporation processes can serve you better. Looking for a helping hand? Your guide is just below.
Commitbiz | Your Business Set Up Guide
Commitbiz has been serving clients across the world to incorporate their businesses, and we have been dealing with clients dealing in different industries. We stand as one of the best business consultants in the UAE as our business experts are well experienced and can provide custom solutions according to your business needs. If you like to have a word, do contact us-we’d be glad to assist.