The logistics sector is one of the leading revenue-generating sectors in the world involved in the transportation of resources, commodities, and knowledge across distances. It comprises every aspect of the supply chain including inventory management and goods transport.
With a huge potential for growth and expansion, setting up a logistics company in UAE is a great decision for any. UAE has shown steady growth in the economy and balanced development in all economic spheres over the years. UAE is indeed a great place to start a logistics business as there are various benefits to starting one in UAE. Did you know that the logistics sector is one of the most profitable in Dubai? There are many logistics companies based in Ras Al Khaimah and Free Zone Areas. In this article, we would like to provide you with important and necessary information regarding setting up a Logistics Company in Dubai.
Advantages of Setting Up a Company in Dubai
Some of the major benefits of setting up a company in Dubai are as follows:
- Free Zone benefits
- First Tier infrastructure
- No limit for currency restrictions
- Low import duty
- Dubai’s fast-growing economy
- No minimum capital requirements
- No limits for a trading place
- Assistance from government departments
- No visa restrictions
Three Key Logistics Business Hubs
Among the many in Dubai, the Dubai South Free Zone, the Jebel Ali Free Trade Zone and the Dubai South Free Zone are the most popular in terms of providing the best ancillary services and also the right infrastructure for business expansion.
Starting a Logistics Business in Dubai: Important Steps
The first and important step with regards to setting up a company in UAE is to find a competent and reliable local partner/ professional who can guide you well through the processes. Business setup agencies can cater to any steps on your behalf. Hiring a good business setup organization can improve the chances of a suitable license application, help minimize delays and errors and also make the process of company creation less exhausting.
Step 1: Business Activities Selection
Ensure that you have identified the area of logistics that you wish to trade and make sure the operations that you have chosen are in agreement with those published by the Department of Economic Development of Dubai’s list. If you fail to specify each of the planned operations it could lead to big problems later. You can choose from thousands of licensed operations and find the best fit for you.
Step 2: Choosing Company Name
The next setup involves choosing an acceptable company for your mainland UAE company. You need to importantly keep in mind that there as specific naming conventions you need to abide by when you are selecting a company name in UAE. In essence, you should avoid any language which is profane or offensive. Avoid abbreviations of well-known organizations and also stop terms. You need to also make sure you verify the availability of your preferred name for registration.
Step 3: Making License Application
The next essential phase is the company formation process, which is applying for the UAE trade license. A business setup company can easily guide you through such a documentation process. A request needs to be done directly at the Dubai DED or a local equivalent that is located in the place where you intend to form your inland corporation. Such a procedure is mainly carried out via online procedures and takes up quite time.
Step 4: Making Visa Applications
A trade license along with a residency visa are the two important documents that you need to attain before starting work in UAE. With the help of a good business setup agency, you can get this done fast and hassle-free. Several steps are involved in the visa application process which include a medical scan, biometric screening, chest x-ray, etc. When you are a UAE business license holder, you can also sponsor others for their visas. It could be a housekeeper, partner, parent, child, etc. Depending on your company size, your income for dependant visas, and the setup you have selected, the maximum number of passes you can apply for is determined.
Step 5: Opening a Corporate Bank Account
The final setup to complete that will allow you to trade in UAE, is to open a corporate bank account. As an overseas investor, accessing bank facilities would be cumbersome. A good business setup organization will guide you through the whole process with clarity so that you don’t end up facing any pitfalls or unwanted legal hassles.
Start Your Logistic Company in Dubai with the Best Business Setup Company
Employing a leading and well-experienced Business Setup Consultants in Dubai, UAE can provide you with the best visa and immigration services so that all formalities regarding business setup are handled with ease.