Guidelines For Starting An Import And Export Business In the UAE

The strategic location, easy connectivity between the east and west, zero corporate tax, and investor-friendly government makes UAE a favourable destination for setting up such a business.

How to start an import and export company in the UAE?

1. Apply for a trade license

Before starting an import or export company, one must obtain a trade license from the Department of Economic Development (DED)to register the company in the mainland. Listed below are a few requirements for obtaining an import and export license:

1. Trade name choices- You must provide minimum 3 trade name choices for the business.
2. Nature of the business activity.
3. Passport copies of all shareholders.
4. UAE residence visa copies of partners (both local and foreign national).
5. Copy of entry stamp if the partner is on visit visa.
6. Emirates ID of local sponsor.

2. Obtain initial approval from DED

It is essential to obtain this initial approval to make sure you will not face any objections from the government in the future.

3. Signing of MOA or LSA

All partners and sponsors should be physically present at the time of signing the Memorandum of Association or Local Service Agreement. Due to the current pandemic situation, all these processes can be done electronically.

4. Rent a warehouse or location

For operating an import/export business based out of the UAE, it is necessary to have a physical office and warehouse to stack imports/exports. A company needs to submit the rental agreement or tenancy contract details for getting the import/export codes and customs clearance.

5. Obtain all essential approvals

Get all additional approvals depending on the nature of your business activity.

6. Make the payment

After paying the fees and a payment voucher will be issued to you.

7. Collect the trade license

The trade license can be collected from any of the DED centers or by visiting the official website of DED.

8. Customs Registration

After receiving the trade license, you need to register your import or export company with the Customs department. By doing so you will receive a unique customs code, which needs to be submitted every time your company ships goods and commodities.

If you need any guidance on import and export company formation in the UAE, the well- experienced team of Corpin Consultants can help you out. Contact us at +971 55 843 2911 or ek@corpinconsultants.com to know more about our services.