The medical sector in UAE is growing just as it is around the globe. Being one of the world’s strongest economies, UAE is certainly an ideal location to start a healthcare business.
Total spending on healthcare is expected to reach AED100 million by 2021.
Much of the growth in this region comes from a shift to preventative care and new interest in specialist care. For foreign investors and business owners, this is the right time to start a medical or healthcare company in UAE.
The business plan may include a healthcare facility, a specialty care or a medical instrument import business. While these medical businesses are diverse and require different licensing, most of the procedures are the same.
UAE Ownership Rules
A foreign investor cannot own a majority stake in a healthcare company in UAE. This implies every foreign-owned business must have at least 51% local ownership in a Limited Liability Company (LLC). This is one of the most important rules for setting up a healthcare company in UAE.
To establish a business in UAE, you’ll need a local partner or you’ll need to establish one. Key Business Group can help you in every step.
Setting Up Business in UAE
We’ll now take you through the process to set up a healthcare business in the UAE.
If you’re not clear about the procedures involved and how to get it done, you can talk to our experts at Key Business Group. We’re happy to handle the process and help you establish your dream business.
Establish the legal structure
Most of the medical businesses are Limited Liability Corporations (LLC). This structure will allow you to take a local partner easily and include some protection from lawsuits and debt.
As an initial process, you will have to register your business. Your paperwork will highlight the local majority ownership that you establish and will give you a legal business in the UAE.
Different Medical Businesses in the UAE
If you’re ready to put on a healthcare facility in UAE, you’ll need to get the staff registered and submit the entire layout plan for the facility. Every aspect needs to be approved before you move forward with its construction.
Once the healthcare facility plans are approved by MOH, you’ll need to notify when your facility will be ready for inspection. Once the facility is approved, you’ll need to proceed with its licensing. This will include applicable fees and notifying the MOH with a list of medical services, prices, and information on your waste management.
If you’re on to import and sell healthcare equipment or pharmaceuticals, every device and drug must be approved by the UAE Ministry of Health (MOH) Drug Registration & Control Department.
For importation, you need your local authority to handle the registrations filed on your behalf. You need to supply the certifications for your devices and drugs. You’ll provide a detailed company profile, a list of products that are being manufactured, manufacturing license etc. All the devices and drugs involved in the business should be pre-approved.
Now you’re all set to open your business in the UAE and be part of the exponential growth of the healthcare sector in the Emirates.
The rules and procedures are different in Dubai and Abu Dhabi.
Knowing how to initiate the proper paperwork, get past any hindrance and taking you all the way to start operating your business require experience. At Key Business, we have 15 golden years of experience in handling all these procedures.
Our team is specialized in getting your business registered. We assist with you at each step starting from the paperwork, meeting all MOH guidelines, and guarantee there’s no slow-down in the process.
How can Key Business Group help?
Contact our experts for help in setting up a Healthcare or Medical company in UAE and advice in setting up in entering the market in UAE please contact our experts.