With the increase in the number of visitors and the number of people staying in the UAE, the need for more healthcare is imminent. The health care industry is a growing industry and is no longer only restricted to treating medical illnesses. It nowadays also comprises of looking physically fit and even mental health.
This makes establishing a healthcare business in Dubai a very lucrative option for people in industry and entrepreneurs all over the world.
How to Setup a Health Care Business Onshore?
Setting up a business in the emirate of Dubai has its features and benefits. These benefits include better transport between places, proximity to your client base and affordable real estate. In case you like to set up a healthcare business in Dubai, you must first take approval from the Dubai Health Authority (DHA).
Steps to Setup an Onshore Business
Certain actions need to be followed if you want to establish your healthcare business in Dubai Onshore.
Choose the Company Structure
The options for setting up a business include a Limited Liability Company (LLC), a Branch of a Foreign Company or a Sole Establishment.
The LLC will need at least 51% of the company of a local sponsor, whereas the rest of the 49% of the company would be headed by you. In a branch company, the parent company will wholly own the subsidiary company, and in case of a Foreign Branch, an Emirati National Service Agent (NSA) is required.
Set a Company Name
This step needs to be performed with the help of the Department of Economic Development (DED). While the LLC or a Sole Enterprise can have various names, a branch office will have the same name as of the parent company.
While choosing the name of a company, it must be taken care that the name is not already being used by any other corporation or business else it would not be possible for your company to use the name.
Acquire an Office
Choosing a suitable location to set up the business is a significant decision as this decision will impact the working the business. It does not matter how the land is acquired, via the government or using the help of a local party, and the location plays a crucial role in shaping the future of the business.
Get Approval from DED
Before starting a business, you need to acquire approval from the Department of Economic Development. The required forms must be submitted to the DED with the passport copies of all the individuals related to the business along with the rest of the essential documents.
Get Approval from DHA
Once the process of the incorporation has initialized, the owner needs to get the approval from DHA. DHA stands for the Dubai Health Authority. The approval from DHA will depend upon the nature of the business. The authority will also look at the feasibility study and the proof of expertise.
Sign the Documents
It is essential and compulsory to get the necessary incorporation documents signed before the setting up of a business. The representatives of the local sponsor and the foreign partners need to be present during the signing.
Issuance of a License
Once the signing has been done and all the approvals granted by the concerned authorities, the company can begin onboarding of the staff and commence its business.
By following the above-mentioned procedures, an investor can set up its healthcare business in onshore Dubai. There is also a free zone which has been established, especially for health care in Dubai.
Dubai Health Care City (DHCC)
The Emirate of Dubai has also established Dubai Healthcare City (DHCC). DHCC is a specialized free zone which caters to different health care businesses. The benefits are more if you open a healthcare business in the DHCC. This free zone was established in the year 2002 with the aim of making the middle east as one of the leaders in global healthcare.
There are two different types of communities in DHCC, which are:
The Wellness Community
The wellness community comprises of all the business which are not directly related to the health of a person such as a massage, nutrition centre, etc. This community spans an area of 19 million square feet.
The Medical Community
This community consists of many hospitals, outpatient departments, clinics, offices etc. and span to an area of 4.1 million square feet.
Benefits of Setting up a Business in DHCC
There are many benefits of setting up a healthcare business in DHCC, such as:
- The investors are given 100% ownership of the company
- Flexible real estate designs according to the industry
- Access to first class medical care
- No taxes (Income tax, Corporate tax or Personal tax) for a duration of fifty years
- No customs duties on the goods and services
- State-of-the-art medical facilities
With these benefits, setting up a company in the DHCC is very beneficial for the prospective investor. As the healthcare sector is booming in the UAE, the incorporation of a healthcare business either in the free zone or onshore Dubai will be a sagacious decision.
We at Commitbiz will help you understand the different rules and regulations of Dubai and will help in the business incorporation process. We also offer many other services which will help the company to reach its full potential. For more details on the services provided, contact us – we'd be happy to answer your query.