Starting an Import Export Business in Dubai – All you need to know
- How to obtain an Import Export Code from Dubai Customs?
Starting an Import Export Business in Dubai – All you need to know
Trading is one of the major business sectors in Dubai. Import & Export to and from the international markets is significantly supporting UAE’s economic growth and acts as a constant growth driver for the UAE’s business landscape.
Import Export business license in Dubai is the most sought-after company license category where investors facilitate global trade by being in UAE. Foodstuffs, precious metals, machinery, and equipment trading occupy the largest share of imports into the UAE.
Import Export Business in Dubai – key Highlights
Import Export business license in Dubai is an essential business document for conducting any sort of local or global trade in the region. UAE is one of the most preferred locations for foreign entrepreneurs who are looking for import-export business expansion due to the extensive business infrastructure and logistics support.
Import Export Company in UAE is in demand due to growing business opportunity and demand from local UAE population and the Asia & African Markets for a large number of trading goods, food produce, automobile parts, and more.
To streamline the import-export process in the UAE and fast-track the trading activities there are certain regulations set by the UAE Customs for the trading companies operating in this region.
Import Export Company License in Dubai
Dubai offers exceptional logistics and infrastructure support for import-export companies. Import Export Company License in Dubai is a lucrative business idea and has solid business opportunities for the company to grow.
Dubai has well-built and robust transportation, storage, and distribution network in place to support the import-export companies in the UAE. The most important trade partners of the UAE for imports are Japan, India, Singapore, Thailand, and South Korea. For exports, the United States, the United Kingdom, Germany, France & Italy are the top trading partners.
For obtaining an Import Export Company License in Dubai the investor has to choose a Free Trade Zone or Mainland of Dubai and register an Import Export Company in the respective business jurisdiction.
How to obtain an Import Export Business License in Dubai?
Foreign entrepreneurs to obtain an Import Export Business License in Dubai must apply for the required business activity in the Department of Economic Development or with the respective Free Zone in Dubai.
Once the Business License has been obtained from the Dubai Economy or the Free Trade Zone, the investor can open a trading company and facilitate global and local trade. The business owner is required to apply for an import-export code with Dubai Customs to conduct the trade operations.
Registering with the Dubai Customs for Import Export Code
The import-export code enables the trading company to bring goods from outside of UAE, re-export or export locally made goods to other countries, etc. All import and export businesses in the UAE have to get customs registration before they initiate any trading activity.
Import Export Company License in Dubai allows the investors to conduct global trade. However, all the imported goods to the UAE have to pass through the customs check at the airports/seaports of UAE and pass the clearance from the UAE Customs.
For all the Import/Export to and from the Free Zone, there is no Customs Duty payable as the Free Zones are out of the Customs scope in the UAE. The Import/Export companies in the Freezones are subject to some strict guidelines specified by the Freezone authorities and the UAE Customs.
The initial step for an Import Export Business in Dubai after getting the trade license and company formation documents is to register with the Dubai Customs for receiving the import/export code. After the registration, the Import-Export business will get an import/export code from the UAE Customs Department.
How to get Import Export Code in Dubai?
- The company has to apply for an import-export business license from any of the Free Zones of UAE or from the Mainland of Dubai (DED) and register the company with the Customs Department of Dubai to initiate the import/export business
- Along with the approval of the trade license, customs registration clearance is to be processed and the Import Export code has to be issued from the customs Department
- All companies with a valid trade license have to obtain import/export codes to initiate any kind of import/export activities in and out of the UAE
Documents Required – Importing Goods to Dubai
For an Import Export Business in Dubai to import goods to Dubai, the following documents have to be submitted to Dubai Customs.
- Declaration form for import of goods
- Specific Permit in case of importing certain restricted goods
- Delivery order with the details of the shipment
- Invoice accompanying the merchandise details.
- Detailed Packing list
- Certificate of origin for the Shipment
- Trade license of the Importer
- DFSA ( Dubai Financial Services Authority) declaration issued by Dubai Customs Services
Import and Export in Free Zones of Dubai
The Freezones in the UAE are within the territory of UAE geographically but are considered outside the scope of UAE Customs territory. Hence, import-export business in Dubai that is registered in the Free Zones have a different requirement for customs clearance.
Import & Export Business Between Free Zone Company and a Local UAE Company
- The importer should have an importer code and goods should be the same as that is mentioned in the trade license of the company
- Goods should reach the destination within 72 hours of the customs declaration
- Goods have to be checked by the Customs before entering the Free Trade Zone
- The Customs-Clearance Letter has to be submitted to the concerned Freezone Authorities to store the goods in the Freezone warehouses for trading in the UAE market.
- To trade in the local UAE market the Free Zone company must appoint a local distributor or open a branch of the Freezone company in the mainland, or export the goods to a mainland company by complying with the UAE Customs regulations.
For import/Export business between Freezone and a foreign company, the Freezones are exempted from customs duties while shipping your goods to the UAE.
Dubai is one of the easiest places to start a trading company. The process is very streamlined and hassle-free.
Especially, with the help of expert business consultants like Aurion Business Consultants, the whole process of opening an Import/Export company will be made a reality at the fastest possible time.
To know more about Starting an Import Export Business in UAE, talk to our experts!
Contact: Aurion Business Consultants