The COVID-19 pandemic has had a positive impact on certain sectors in Dubai including e-commerce, Fintech, IT, and EdTEch. While these sectors benefited from the change in consumers’ behaviour due to the pandemic the pharmaceutical and medical devices industry is the direct beneficiary of the global health crisis. The major global powers including the US and the UK have been struggling to procure medical devices like surgical masks and Personal Protective Equipment (PPE) to contain the spread of the virus.
This has opened up a huge opportunity for those who want to sell or import medical devices. If you want to form a company to trade medical devices, consult with a local service agent for the business setup services in Dubai, UAE. Professional assistance will come in handy for conducting business in this industry as there are a lot of approvals involved in the process.
Also read: How You Can Setup a Healthcare Business in Dubai?
Activities Listed by the Department of Economic Development (DED) for Import and Trading of Medical Devices
There are mainly two types of business activities the investors can initiate the process of business setup in Dubai. These are
1. Medical, Surgical Articles & Requisites Trading
The major activities include the reselling of instruments and medical apparatus like
a) Earphones
b) Batteries for cardiac patients
c) Pulse regulators
d) Walking-sticks
e) Medical shoes
f) Surgical suture bandages and plasters
2. Medical, Surgical Equipment & Instruments Trading
As per the DED, the key activities include but not limited to equipment and instruments used in hospitals and healthcare clinics for
a) Diagnosis
b) Treatment
c) Surgical Operations
d) Medicine and Blood Preservation
e) Sterilization
f) Manual Kits and Instruments
g) Electronic devices using communication techniques
Also read: How to Obtain a Trade License in Dubai?
Steps Involved in Importing and Trading Medical Devices in Dubai
1. LLC Company Formation in Dubai
The most efficient way of importing medical devices into Dubai is to initiate the process of the LLC business setup in Dubai. The DED is the competent authority that issues the license for company formation in Dubai mainland. With the professional assistance of the best business setup consultants in Dubai, the investors can apply for the Commercial license. For this, you have to
a) Select the Business activity
b) Choose a Company Name
c) DED Initial Approval
d) Rent Office Space
e) Apply for Ministry Approval
f) Issuance of License
For the LLC company formation in Dubai mainland, you need to find a local sponsor who is a UAE national. It is recommended to have a corporate sponsor for a crucial business setup in Dubai like the medical device importing. The local sponsor will hold at least 51% of shares in the company.
2. Product registration with the Ministry of Health and Prevention
The investors need to submit their products to the UAE Ministry of Health and Prevention (MOHAP) for registration. The authority will inspect, test, and issue a certificate of classification, and then only the product becomes eligible for import and trading in the UAE.
3. Company Registration with the Ministry of Health and Prevention
After the product registration in Dubai, the investors have two options to start the trading of the medical devices.
a) Direct Selling
Investors can rent a warehouse and register themselves as authorized resellers of medical devices. The investors should ensure that the warehouse has enough space to store the medical devices safely and it also needs to meet the global standards.
b) Using an Intermediate Registered Agent
The warehouse requirement can be eliminated if the company is using a third-party registered agent. The registered agent will act as the authorized reseller and distribute the medical devices on behalf of the company.
Why Choose Jitendra Business Consultants?
The COVID-19 pandemic has presented investors with a lucrative opportunity to set up businesses in the healthcare sector especially the trading of medical devices. The unexpected rise in the COVID-19 cases across the world created a shortage of medical equipment especially the PPEs. The LLC company formation in Dubai is recommended for starting the business of trading medical devices. However, apart from setting up the company in Dubai, external approval from the Ministry of Health and Prevention (MOHAP) is required for the import of medical devices. In addition to that, the investors are required to register the products with MOHAP. All these processes require the expert assistance of business setup consultants in Dubai.
Jitendra Business Consultants (JBC) is one of the most reputed business setup consultants in Dubai, UAE with years of experience in assisting investors in setting up businesses. JBC has a team of a highly qualified team of business setup consultants who are well-versed in labour laws, immigration laws and are highly experienced in handling the authorities including the MOHAP. By hiring JBC, company registration in Dubai becomes a much easier and hassle-free process for foreign investors.