With its strategic location, Dubai is most advantageously situated to start an import-export business. Moreover, the modern infrastructure, business-friendly environment and supportive government set the ideal climate for business growth. Hence, the most popular license among international investors is the import-export license. Read along to explore the steps and requirements needed to obtain an import-export license in Dubai.
What is an Import-Export License?
An import-export license in Dubai is a legal authorization granted by the Department of Economic Development or a Free Zone authority that permits a business to engage in international trade activities in the emirate. It is essential to hold this license to engage in import or export activities in the UAE. However, if you are a company trading prohibited special products internationally, then you would need a special license from the customs office.
A foreign investor in Dubai seeking to obtain an import-export License must first register their company as either a trading or general trading entity. Following this, they must register with Dubai Customs and acquire an Import Export Code to engage in international trade. Import-export license fees in Dubai include various components but it costs approximately around AED 13,500 to AED 28,500. Contact a Dubai business setup consultant for a more accurate estimate for your business.
What is an Import Export Code?
An Import-Export Code (IEC) is a unique identification number issued by the customs department of the emirate where your business is registered. This facilitates unique identification of your business for customs purposes ensuring smooth customs clearance. Also, this helps the customs department keep track of import and export data for trade analysis.
Steps to Obtain an Import-Export License in Dubai
1. Choose a Business Structure
The first step is to choose a business structure that would suit your business. You can set up your business in the Dubai mainland or obtain a Dubai freezone license according to your convenience. Once you know where you are going to operate, choose an ideal legal structure. There are several options including Limited Liability Company(LLC), sole proprietorship, and public joint stock company.
2. Prepare the Documents
Before starting an import-export company in the UAE, you’ll need to get a few documents ready. You will need your trading license documentation from the Dubai Chamber of Commerce and Industry and a letter of assurance from a bank in Dubai. You will also need to submit a copy of your passport and your UAE residency visa.
The specific documents you require may vary based on your location and business structure. But here’s a general guideline:
- Trade name options
- Passport copies of shareholders and managers
- Visa copies of shareholders and managers
- Business plan
- Lease agreement for the office space
- NOC (No Objection Certificate) from the landlord
- Initial approval from the DED or free zone authority
- Trade name reservation certificate
3. Apply for an Import-Export License
Once you’ve determined your business structure (mainland or free zone) and gathered the necessary documents, the next step is to submit the license application. Make sure all the information in the application is accurate and complete, as any errors can cause delays or rejections. Clearly specify the types of goods you intend to import or export. This information is crucial for determining the appropriate license and fees. The application should also include your chosen trade name that complies with the naming guidelines of Dubai and the address of your business premises.
4. Customs Registration
Registration with the customs department is necessary to get the license. This is to ensure a smooth clearance process and compliance with all the customs regulations. The documents required for customs registration are:
- Trade license copy
- Memorandum of Association (MOA) of the company
- Passport copy of the owner
- Visa copy (if applicable)
- Tenancy agreement for the office/warehouse
- Letter requesting the IEC
- Payment for the IEC fee
Obtaining an import-export licence in Dubai involves following specific procedures and meeting certain requirements set by the government. It is essential to adhere to these guidelines to legally engage in international trade activities in the region. Since the registration has become online, the process is much easier.
Why Choose Cleritbiz For Import Export Business in the UAE
Cleritbiz is one of the top business setup companies in Dubai providing expert guidance and support services for businesses to succeed in the market. We can help you navigate the process of getting an import-export license in Dubai and successfully setting up your import-export business in the UAE within just 7 days. Book a free consultation now!
