The UAE is an important medical and healthcare destination across the world. In the same vein, both medical and healthcare technologies are so advanced that individuals across the world visit the country for their treatments. And if you are thinking of investing in this area; starting a medical business in the UAE is one of the most prominent activities.
In this article, we will make sure you understand everything about the healthcare and medical sector in Dubai and the UAE. In addition, you will understand why the UAE is one of the most important countries when it comes to medical facilities. Likewise, we will show you a guide and the different types of medical setup in the country. Let’s observe:
- What documents do I need to register a medical equipment company?
- What are the types of medical businesses in the UAE?
- How do I minimize the costs when starting a medical business in the UAE?
- What are the benefits of starting a medical business in Dubai?
- How can Connect Free Zone assist you to start a medical business in the UAE?
     1. What documents do I need to register a medical equipment company?
Every business wishing to operate in the healthcare sector or start a medical company in the UAE must have the right approval from the authorities. And since it is linked to humans; the Ministry of Health and Prevention will undertake a thorough verification process before issuing an approval.
Similarly, all applicants must properly fill and submit all the required documents with the application form. However, in Connect Free Zone we take care of all the processes on your behalf from the beginning to the end.
- Firstly, as we mentioned earlier, you need approval from the Ministry of Health and Prevention, and the approval would indicate the authorization to import.
- Secondly, you need a warehousing license from the Ministry. In addition, the warehouse must meet the specific dimension requirements and all the facilities for safe storage of all pharmaceutical products and medical equipment. Further, the officials will inspect the warehouse and issue a certificate as proof that you can use it for storing said items.
- The Ministry of Health, drug registration, and control department must approve all medical devices.
- In addition, the business license application can be submitted to the DED; with the other approvals from the Ministry attached with it. Moreover, the government entity may provide an official intimation to the individual in case of rejection of the application form. After that, the applicant would make all the necessary corrections and re-submit the application.
- Copy of passport of the foreign national business owner.
- Business profile
- Notarized valid ISO 13485 certification.
- A valid and legal manufacturing license for all the intended products.
- Ejari or Tenancy contract.
     2. What are the Types of Medical Businesses in UAE?
There are various types of medical and healthcare areas where you can invest your money. If you want to start a medical business in the UAE; here is a list of the different available fields:
     2.1. Ambulatory centers
The Ambulatory Centers are usually known as outpatient clinics. In the same vein, this type of medical facility offers services that do not require the patient to stay overnight at the hospital or clinic. For instance, wound care, physical therapy, or minor surgery.
     2.2. Healthcare investment management
Another option to think about is a healthcare investment management firm in Dubai. With this, you are able to manage the financial assets and investments of hospitals, clinics, and healthcare providers.
     2.3. Professional development training
In order to ensure the best quality of services provided by clinics, hospitals, or any medical facilities; it is essential to have a skilled and professional staff. Therefore, you may consider starting a business to provide short-term courses about HR training, clinical skill development, social and behavioral training, and professional development training.
     2.4. Higher education providers
The educational area is thriving all across the world and when it is about education for healthcare or medical sectors; there are many possibilities. Similarly, you can start a technical healthcare education firm, junior medical college, or a medical university in Dubai.
     2.5. Medical publishing
Certainly, this industry targets both students as well as healthcare professionals. That is to say, the medical publishing marketing encircles several formats such as clinical research papers, medical journals, medical books, online content, and databases.
     2.6. Non-Profit healthcare organization
On the other hand, you can also plan to start a non-profit organization in Dubai in order to assist disadvantaged individuals or people in need across the UAE.
     2.7. Private Clinics and Hospitals
This is a great option because hospitals and private clinics get individual care as well as quality services. In other words, the population of Dubai and the UAE are all about the quality of everything such as education, medical facilities, career, lifestyle. Therefore, this type of business is very profitable and of course, you need the required permission, approvals, and a private clinic license to operate.
If you want to keep learning; read our article about the importance of trade licenses.
     2.8. Healthcare consultancy
The healthcare and medical industry is quickly advancing and evolving each year. Moreover, the competition is really high; thus, that is where healthcare consultancy comes in. That is to say, that is where the experience consultants in your firm can assist these medical providers to stay a step forward and achieve their goals.
     2.9. Importation and Supplies of Medical Equipment in the UAE
The government of the country is always encouraging investors and entrepreneurs and liberalizing its policies in order to boost the healthcare industry and improve healthcare standards. In the same vein, the overall healthcare expenses of the UAE are expected to reach 4.5% of the country’s GDP by 2026. Therefore, this is a great opportunity to start a medical business in the UAE.
More specifically, an importation business or a pharmaceutical equipment distribution. However, here is a list of what you need to minimize the cost when starting a medical company in the UAE.
     3. How do I minimize the costs when starting a medical business in the UAE?
     3.1. Choose the Right Jurisdiction
You can always decide to start a business in the jurisdiction you want. For instance, there are 3:
- Mainland.
- Free Zone.
- Offshore.
Whether you are choosing a Mainland business formation or a Free Zone company formation; all of them have their positives and negatives. Similarly, some jurisdictions are beneficial for a particular type of business; and not for other types of activities.
That is to say, you can talk to us and discuss what jurisdiction suits the type of medical business you want to start; and where you can establish it at the minimal initial cost. Further, with us, you can acquire the best advice regarding your business. In addition, it has been an important factor that allowed us to help several businesses across the UAE.
     3.2. The Right Emirate
A previous misconception in the UAE was that Dubai was the only emirate in the country supporting business or investment. However, that was cleared over the years. Today, entrepreneurs from all over the world understand that the 7 emirates welcome investment with open hands.
In addition, the different regulations for company setup are similar to a certain level. On the other hand, not all emirates suit all the different business operations. Moreover, the advantages of starting a medical business vary from emirate to emirate. Therefore, choosing the right emirate with optimal growth prospects is a great option to reduce setup costs.
     3.3. The type of medical activity
The type of medical activity you are planning to establish is directly linked to the business formation cost. Likewise, you can choose a business activity with fewer setup expenses if you have budget restraints. However, if you let us know your budgetary options, we will assist you to choose whatever suits you.
In addition, we will provide you with the most productive advice about the medical activity you want to start. Thus, it will have a minimum setup cost for the company and the best turnover in a short period.
     3.4. Hire a Reliable and Skilled Business Setup Consultant
Business setup consultants and services have an important role in decreasing the costs of starting a medical business in the UAE. That is to say, in Connect Free Zone we can guide you with the type of license you must obtain, the jurisdiction that will suit you about starting the business at minimal cost, and with the best outcome, with the right process, and the best advisable legal structure.
Above all, hire only a well-established and reputed company setup consultants or services in the UAE.
     3.5. Leasing or hiring a commercial space
In some emirates, building from nothing is less expensive than in others. However, you must make sure you establish your medical business at an ideal location. Similarly, you can talk to us and inquire about the cost-effectiveness of some spaces at the perfect location for the medical business you want to start.
     4. What are the Benefits of Starting a Medical Business in Dubai?
Here is a list of all the benefits you will obtain when setting up a medical or healthcare business in Dubai or the UAE:
On the other hand, here is a list of benefits of setting up a free zone company in the UAE.
- Medical Tourism: the advantageous location of Dubai has turned it into a great option when it comes to medical tourism. Similarly, year after year this practice has been progressively increasing and thus; attracting foreign investors to a great extent.
- Complete Ownership: when you start a healthcare business in Dubai or the UAE, you are able to obtain full ownership of the company’s share. In addition, if you need to carry on a business liquidation, you can take back all the profits earned and the amount invested.
- No Corporate Tax: a distinctive factor that usually attracts many investors to the healthcare industry in Dubai is the exemption of corporate tax for almost 50 years; making it a burden-free area.
- No Customs: when you start a healthcare business in the UAE, you obtain relief from the customs responsibility that you need to pay.
- Strategic Location: the city provides several options for investors in regards to location. For instance, options like Mainland, Offshore, or a cheap Free Zone are positions to fulfill your business expectancy. Further, Dubai Healthcare City (DHC) is a fully dedicated medical free zone that aims to increase the number of investors.
- Multiple Collaboration: Dubai’s location has got no limits when it comes to industries performing in any domain. Thus, it is much easier for medical and healthcare industries to collaborate with different companies.
     5. How can Connect Free Zone assist you to start a medical business in the UAE?
In Connect Free zone we care deeply about our partners; working with us you will take advantage of packages, discounts, and standard pricing if you want to start a business in any of Dubai’s Free zone or Mainland. In the same vein, we can sponsor your company in the UAE so you can set up with no hassle in Mainland Dubai.
Dubai’s Mainland and Free Zone have several differences; learn about them in this article.
In Connect Free Zone we have more than 20 years of experience working not only with medical businesses but also with all types of companies all across the UAE; that led us to acquire the best experience we need to guide you to achieve your company’s objectives and set up easily in the country.
Here we will ensure you find the greatest business destination for your company. In addition, we will make sure you take advantage of all the benefits all jurisdictions offer you. What do we do? We compare free zones’ locations, rules, and regulations regarding your company’s PRO services and objectives.
Would you like Connect Free zone to help you start a medical or healthcare business in the UAE?
If you want us to start working side-by-side with you and assist you to start a healthcare business in the UAE; or if you have additional inquiries. You can send us an email via contact@connectfz.com. Or if you want, call us at +971 4331 6688.
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