You cannot travel around the world, but your products can. What can be a better option than a wholesale trading business in Dubai? A city that’s bursting with tourists and ex-pats coming in. The best part of this business is you can sell your products in bulk to retailers.
Starting a wholesale trading business in Dubai has many benefits, as listed below. Read this write-up to learn more about starting a wholesale business in Dubai.
Benefits of Starting a Wholesale Trading Business in Dubai –
The following are the benefits of doing a wholesale trading business in Dubai:
- Easy business registration process.
- Streamlined company formation process.
- Zero corporate and personal income taxes.
- Easy access to international ports and airports.
- 100% Ownership of your wholesale business in Dubai.
- Standing up as a major shipping hub for global markets.
- Dubai’s competitive economy attracts investors to invest in Dubai.
- Government incentives for people wanting to start a wholesale business in Dubai.
- Investors have various options to choose from. Such as foods, technology, vehicle and electronics parts, building supplies, machinery, and equipment.
Process of Starting a Wholesale Business in Dubai –
If you want to start a wholesale business in Dubai, follow these steps:
Step 1: Partner with a Business Setup Consultant
The 1st step is to partner with a business setup consultant. They’ll guide you through the registration process, license application, documentation, and external approvals.
Step 2: Select your Business Activity
Deciding on your business activity is a major step in starting a wholesale business in Dubai. The business license will give you extensive options to choose from. It’s mandatory to mention your business activity in the license application. This will help you avoid penalties.
Step 3: Select a Trade Name
The business name, whatever you choose to have, must adhere to the UAE naming policy. You can have your name as your business name but not only the surname or initial; it should be a complete name. Business names shouldn’t be offensive. Shouldn’t refer to any religion or religious deities.
Step 4: Select a Location to do Business Setup
Choose an appropriate location for your wholesale business in Dubai. Choosing a suitable business location will support the growth of your business. Choose a location near transport hubs like international ports, airports, seaports, or roadways. Dubai offers amazing warehouse facilities. It’s the perfect location for your wholesale business in Dubai.
Dubai offers you Mainland and Freezones to set up your wholesale business. Both jurisdictions have their benefits.
Step 5: Submit your License Application
Setting up a wholesale company in Dubai comes with a license application process. The following are the documents required to get a wholesale license in Dubai:
- Color photos of all the shareholders.
- Copies of Emirates of all shareholders.
- A complete wholesale trading license application form.
- Passport and residence visa copies of all the shareholders.
- Company name approval certificate from UAE’s registry office.
- Memorandum of Association (MoA) with all the details of all shareholders.
Step 6: Apply for Visa
After applying for a wholesale business license in Dubai, you can now apply for a Visa. Your Visa comes with a sponsorship; you can sponsor your family and staff. The number of people you can sponsor depends on the type of Visa you are applying for.
Step 7: Open a Corporate Bank Account
Now, it’s time to open a corporate bank account to handle all your revenues and expenses.
Consider these before Starting as a Wholesaler in Dubai –
You should do proper research on the pros and cons of starting a wholesale business in Dubai.
- Find your target audience or suppliers. Proper suppliers will help you expand your business.
- Do thorough market research before applying for a wholesale trading license in Dubai.
- Decide about the shipping. You’ll have the option of charging a small delivery charge or offering free delivery. But, if you’re choosing free delivery, adjust the cost somewhere in the actual price of the product.
- Decide the price of your product as per the market. The price should always be reasonable and fair. As this is a wholesale business in Dubai, compare your prices with retailers, too. People prefer buying from wholesalers because of the lower price. Consider setting the price after analyzing all the aspects.
- Choose a payment option. You can choose to have cash payment or UPI options.
- Have the best customer service. This is the key to success. Any customer would prefer to talk to you for any queries.
- Plan an appropriate location. This is for wholesale business in Dubai; you might have to store huge products. So choose the place as per the need.
Meet an Expert Business Setup Consultant in Dubai –
Do you want to start a wholesale business in Dubai? Long way to go! But, you can outsource this work to people who are well-versed in the Dubai market. Our trusted experts will guide you through the steps and the license process.
Commitbiz has been helping foreigners in setting up a company Dubai business for over 15 years. If you want expert advice on what to do and how to do it, you can book a free consultation.