For decades, trading has been one of the most sought-after business practices in the UAE, ultimately securing a globally 32nd rank for promoting export and import business opportunities in Dubai. UAE has been progressively establishing itself as a crossroads for foreign trade with developed and developing markets in various regions. Its strategic location on the global map, an 8-hr flight for an almost two-thirds majority of the world, makes it one of the most attractive options for import and export activities locally and abroad.
Entrepreneurs wishing to leverage these benefits can advance in the trading sector, starting with issuing an Imports and Exports License in Dubai. Those who already have an approved license can leverage the huge capacity of their issued license by exploiting the untapped potential of the following variables:
The central location of the UAE supports an extensive range of road, marine, and aviation networking lines. Together with boosting logistics, these links tremendously benefit the imports and exports industry all across the world. Dubai continually extends the far-reaching scope from oil to non-oil industries, as can be seen by various flexible solutions for investors, entrepreneur-friendly laws, intelligent consultancy services, and easy import and export procedures.
The versatility of exports and imports licensing makes it one of the most appealing commercial licensing options for new business investors. Here investors have the liberty to trade various items under one trading license. This could range from cosmetics, jewellery, plastic products to fabrics, cars, broadcasting equipment, etc. Furthermore, trade licensing also facilitates a variety of approaches for conducting a business. For instance, investors can import items in wholesale and later sell them to the local vendors, establish a commerce hub locally to import from outside markets and re-export to the markets outside the UAE, or simply collaborate with an e-commerce trade license in Dubai whereby you are importing goods and selling them to the domestic markets.
Convenient Import and Export Procedures
The UAE government has made it increasingly convenient for foreign investors to register new business setups or issue trade licensing by offering various alternatives in every category, such as selecting the right jurisdiction. Every jurisdiction has its own set of rules and regulations, including its import and export methodologies. So, whether you plan to operate in the Free zone or the UAE Mainland, there is always a flexible window in the documentation, legal requirements, and registration concerns. However, your procedure of getting an import and export license in Dubai must be approved from the customs department before you can carry out any import and export activity locally or abroad.
Easy of Setting up a Trade Business
Being one of the most prominent import and export hubs, UAE receives its reputation by the simple process of establishing a trade business from anywhere in the world. Investors have the benefits to trade various items under one issued license in the UAE mainland. However, Free Zones allow a complete tax exemption in the areas of imports, exports and customs.
Supporting Trade Laws
The UAE governmental authorities actively encourage a diversified economy providing support in every legal aspect for the new investors. Similarly, Dubai Trade Law has been designed with the same approach backing up the policies to encourage fair competition, protect business owners and customers’ concerns, and form a stable foundation for small to medium-size enterprises and other companies. You can leverage the tax advantages as well as the open-door policies in Dubai. Furthermore, having a membership in GAFTA, Dubai offer the new investors a comprehensive range of trading benefits.
According to Fortune Business Insights™, The global marine port services market is projected to grow from $73.91 billion in 2021 to $101.98 billion in 2028 at a CAGR of 4.7% in the forecast period.
Assistance from Professionals in Dubai
You must understand that every product that you wish to trade will also affect the customs fee you’ll have to pay. So, it is wise to have a prior collaboration with the UAE customs and understand the local import and export procedures’ legalities.
Foreign investors with limited knowledge of legal aspects and resource capacity can seek assistance from commercial agents in Dubai such as Corporate Business Services (CBS). Obtaining an import and export license is a considerably comprehensive procedure that requires various approvals, permits, and additional licenses in some cases. When your partner with a local commercial agent, you can ease the process with their all-inclusive capacity and networking capabilities.
Having the right assistance will ultimately help you begin your import and export business activities in Dubai, understand duty requirements and specific procedures for every trading transaction, ultimately safeguarding your company in the long run.