The need for healthcare increases in Dubai as the number of residents and visitors changes drastically. The health care industry is vast and not limited to treating medical illnesses. Nowadays, Physical fitness and mental health are also included in this sector. Moreover, The mentioned features make the medicalbusiness setup in Dubai a lucrative option for the residents of Dubai and worldwide entrepreneurs. There are many benefits and features of setting up a business in Dubai. The benefits are transport between places, affordable real estate and proximity to your business place. Because To start a medical business in Dubai, every businessman needs to get approval from the Dubai Health Authority.
Steps to Set a Medical Business
The following actions need to be followed to establish a medical business in Dubai.
Choose the Company’s Structure
a branch of a foreign company, a Limited liability company (LLC), or sole establishment are the options for setting a business. Because The limited liability company needs 51 per cent of the company of a local sponsor, and the rest of the 49 percent would be headed by the company owner. Moreover, The parent company will fully own the child company if the company has any. An Emirati National Service Agent (NSA) is required in the case of a foreign brand.
Choose the Company Name
The company can take help from the Department of Economic Development (DED) in choosing the company’s name. On the other hand, it would be difficult to take help from the limited liability company or sole enterprise because they have various names. Still, the branch office will have the same name as the parent company have.
There are a few restrictions associated with selecting the company name. The name should be unique. The name does not match with any other corporation’s name. The company’s name does not harm or offend any religion or race.
Select The Workplace
Choosing the right location to set up a business is very important because location puts a very prominent impacts on the functioning of any business. Businessmen can acquire the land with the government’s help or the local party’s help. The proper selection of location matters because it shapes the future of the business.
Approve the Business From Department of Economic Development
Every businessman needs to acquire approval from the economic development department before starting a business. Because These form and other essential documents with passport size copies of all shareholders and employees must be submitted to the DED for taking the approval of starting a business.
Approve the business From Dubai Health Authority
The next step is taking the approval from the Dubai Health Authority after completing the incorporation process. Approval from DHA varies, and it depends on the nature of the business. The authority will check the study certification and judge the applicant’s expertise.
Time For Signing the Document
A businessman’s responsibility is to make sure all the necessary incorporation documents are signed before formatting a company. The presence of local sponsors and foreign partners is necessary when signing the documents.
Once the concerned authorities have done all the signs and approvals, the company can be functional. At this time, because the company can bring its employees onboard and officially start its healthcare business. Different free zones have been established in Dubai to run a health care business.
The Dubai Health Care City (DHCC)
The government of Dubai established a department named Dubai Health Care City (DHCC) that caters to different health care businesses in Dubai. Because This department facilities very well to the businessmen and also offers many benefits. This department was established in 2002, and this department aims to make the middle east number one in the healthcare sector.
Dubai health care city is subdivided into two different parts.
- The Wellness Community
This community consist of all the businesses that are not directly linked with health but essential for the health of any human being, like massage, nutrition centre and many more.Because This community covers a nineteen million square feet area.
- The Medical Community
The part of the DHCC community is directly related to the health of any human. Moreover ,It includes hospitals, clinics, outpatient departments and offices etc. 4.1 million square feet area of Dubai is covered by this community.
Several Benefits of Starting a Business In DHCC
Businessmen can get several benefits from formatting a healthcare business in DHCC. The benefits are following:
- The investor can enjoy the 100 percent ownership
- Investors can choose the real estate design according to the company
- Excellent medical care is the first step away
- Investors do not obligate to pay any tax (income tax, corporate tax and personal tax) for fifty years
- No customs duty on the import and export
- Advances medical facilities
These impressive benefits made setting up a company in DHCC easiest for new entrepreneurs. As Dubai is the hub of different industries and the success of the healthcare sector in Dubai is guaranteed. Establishing a company in Dubai will be a wise decision.