How to start an import export business in Dubai

Homes today are filled with both local and global brands. Anyone desiring a foreign brand can now easily find it in domestic markets. Gone are the days when people relied on relatives and friends to bring products from abroad. This shift is largely due to international traders who act as matchmakers, helping buyers and sellers connect in foreign markets. In UAE, the hub of global businesses, the internal trade scene is booming like never before. If you have made the choice of starting an import export business in Dubai, you are on the right path. 

Dubai’s impressive geographical location, state-of-the-art infrastructure, and investor-friendly policies make it a perfect hub for international trading. Let us uncover amazing facts about international business in Dubai. We will also explore how to successfully start an import export business in Dubai, its requirements, and costs. 

UAE’s thriving international trade sector: 

The import export sector has been significantly shaping and contributing to the UAE’s economy. You will be amazed to know that in the first quarter of 2024 alone, the nation’s non-oil foreign trade reached an all-time high of more than AED 1.3 trillion! This milestone speaks volumes about the size of the internal trade market of the nation.  

The business opportunities for import and export in UAE for entrepreneurs are limitless. Here are some benefits of starting import export business in Dubai: 

1. Ideal geographic location: Dubai is strategically located at the crossroads of Europe, Asia, and Africa. This advantageous position makes it easy to reach global markets, connecting businesses with numerous buyers and sellers worldwide. 
2. Top-class infrastructure and logistics: The UAE continually updates its infrastructure. With modern ports, well-developed roads, and advanced logistics facilities, transporting and shipping products beyond borders is seamless. 
3. Strong ties with countries: The UAE has maintained cordial and strengthened relationships with countries like India, Turkey, Iraq, and others. In fact, trade with these nations is increasing year on year. 
4. Conducive and supportive environment: The UAE government is known for its remarkable support for startups and businesses. They implement initiatives and policies that facilitate smooth setups and operations. 
5. Less restrictions on trade: The UAE embraces a free economy, opening its doors to the world and welcoming international trade without constraints, making it easier to conduct business. 
6. Free trade agreements: To enhance its position as a global hub, the UAE has signed free trade agreements with many countries and trade groups across the world such as GCC FTAs, US FTAs, etc 
7. Tax and customs benefits: The UAE is known for its friendly tax environment. In international trade, you can save significantly due to reduced customs duties. 
8. Flourishing demand: The demand for goods from countries like India and the U.S. is increasing in Dubai. Similarly, Dubai’s products are also gaining popularity in other nations, creating ample opportunities for import export companies in Dubai. 

How to start import export business in Dubai? 

If you want to launch an import export business in Dubai, the first step is to obtain a trade license. An import export business license in Dubai is a special permit that legally allows you to participate in international trade in the city. This means you can sell products sourced from Dubai to the rest of the world, or bring goods manufactured outside the UAE and sell them here. There is a specific process that needs to be followed to obtain this license. 

Here is the step-by-step process to get licensed and start an import export business in Dubai: 

Step 1 – Choose your business location: 

Dubai offers two main economic zones for starting import export business. You can operate on mainland or free zone. In each zone, you will need to work with specific government bodies and adhere to particular regulations. 

Step 2 – Register your trade name:  

Your business name is what makes you recognizable. In international trade, you need a name that stands out globally. Make sure it meets the UAE’s naming rules to avoid any penalties or issues. 

Step 3 – Select the legal structure of your business: 

You have several options for structuring your business, including a Limited Liability Company (LLC), sole proprietorship, or as a branch of an international company. Your choice will depend on your goals for control and other factors specific to your business. 

Step 4 – Get initial approval from DED: 

You must obtain a No Objection Certificate (NOC) from the Department of Economic Development (DED) confirming that the UAE government has no objections to your import export business in Dubai. 

Step 5 – Choose office space: 

Next, you will need to find a suitable office space for your business. In Dubai, you have the option of a flexi-desk as well. Your requirements will depend on the nature and scope of your business. Be sure to register the lease contract on the Ejari portal. 

Step 6 – Get your business registered: 

After finalizing the above details, you must register your business with the Department of Economic Development (DED). It is advisable to seek professional guidance to navigate the legal procedures smoothly. 

Step 7 – Apply for the import export business license: 

To obtain your business license, you must complete and submit an application to the relevant authority—either the DED for mainland businesses or the appropriate free zone authority. You must also provide the necessary paperwork and pay the application fees. Once your application is reviewed and approved, you will receive your trading license. 

Step 8 – Register with Dubai customs: 

Registration with Customs Department is essential for all import and export companies in UAE. Similarly, Dubai imports and export business must get registered with Dubai Customs. You will need to submit the necessary documents along with your trade license. Once your registration is successful, you will be allocated a customs code that is used for importing, exporting, and clearance. 

Step 9 – Open a business bank account: 

Then, you might as well open a bank account for your business to manage all receipts and payments related to import export operations.  

Step 10 – Obtain the necessary visas: 

You must also obtain a suitable visa for yourself to legally stay and work in the Emirates. You may also want to secure visas for your dependents like your family members. You can even get a maid visa in Dubai for your domestic workers. The requirements will depend on your specific situation. 

Documents needed to start import export business in UAE: 

You need to keep the following documents ready for smooth import export business setup in Dubai: 

• Description of business operations 
• Proposed trade name options 
• Memorandum of Association (MOA) 
• Copy of passport of business owner 
• Local sponsor’s passport and Emirates ID 
• Copy of residence visa, visit visa 
• Office lease agreement 
• Letter requesting IEC (for obtaining IEC code) 

Note: Additional documents may be requested as per your business case. It is best to advise our Dubiz experts about your requirements. 

Cost of starting an import export business in UAE: 

The cost of import export trading license starts from AED 6,000* in RAKEZ Freezone. In Dubai mainland, the cost for the necessary commercial license can start from AED 12,000*.  

Other than Dubai, in Ajman, you can obtain an import export business license starting at AED 5,655*. 

Note: These costs are subject to your specific business needs, nature, and location. For detailed assistance, contact one of our experts at Dubiz Business Setup. 

Go global with Dubiz! 

The benefits of trading internationally, especially from the fantastic city of Dubai, present a golden opportunity. It not only opens doors to international markets, driving immense growth and profits, but also helps businesses gain a global brand presence and solidify their networks. However, setting up an import export business in UAE requires a meticulous process to be followed. 

If you need any help or consultation, Dubiz is always available. We are your one-stop shop for all the essential business services in Dubai. With us, you do not walk but run toward your success. Our experts bring years of knowledge and experience to guide you through your company formation in the UAE. We will help you secure your import export license in Dubai in no time and handle all approvals and legal formalities on your behalf. Additionally, we will assist you with: 

• UAE Company registration 
• Visa & PRO services 
• Bank account opening 
• Marketing 
• Business centers 
• Golden visa and more 

Get in touch with us today at +971 562986853 or WhatsApp us at +971 501309366. You can also drop an email at info@dubiz.co for any inquiries.  

FAQs 

1. What is IEC code in UAE? 

IEC stands for Import Export Code, which is an authorization document granted to businesses in the UAE by the relevant customs department. It allows businesses to import goods from foreign countries into the UAE or export goods from the UAE to foreign countries. 

2. How to get IEC code in Dubai: 

To register your business with Dubai Customs and obtain the code, you can follow these steps: 

1. Visit the website www.dubaitrade.ae
2. Click on “Service Center” 
3. Select “Dubai Customs” 
4. Next, click on “Request Business Registration” 
5. Fill in the required information, attach the necessary documents, and submit for approval. 

You can check updates via the email address you provided. 

3. How to find importers and exporters in Dubai? 

Here are some ways to find importers and exporters in Dubai: 

• Trade shows and exhibitions 
• Local business and trade associations 
• B2B platforms like eworldtrade, Alibaba 
• Local distributors 
• Business directories or embassies 
• Free zone authorities 
• Dubai Chamber of Commerce 
• Local business consultants 

4. Which license is needed for import export business in Dubai? 

You will need a trading or general trading license from the relevant authority to legally operate an import export business setup in Dubai. 

5. What are some lucrative import export business ideas in Dubai? 

Here are some top UAE’s traded goods and services, recognized as the best import-export business in Dubai: 

• Petroleum products 
• Gold, diamonds & precious metals 
• Jewellery   
• Auto parts 
• Electronic goods 
• Motor vehicles 
• Aluminium 

6. Who are the top trading partners of UAE? 

The UAE’s top import export trading partners include Saudi Arabia, China, India, Iraq, Hong Kong, the US, Japan, Turkey, and Switzerland.