Any country’s healthcare system is a vital part of its economy. It also makes a significant contribution to the economics and general growth of a nation. It is the government of the United Arab Emirates’ active efforts to improve and expand its healthcare services. There are world-class hospitals being built as well as cutting-edge medical equipment installed and the newest technology being used. Because of the large number of hospitals and medical clinics that are being built in Dubai, there is an enhanced opportunity for establishing a medical equipment selling business there.
Because of its strategic position, efficient transportation infrastructure, and varied, multi-national population, the United Arab Emirates is a popular trading destination. Moreover, the UAE’s entrepreneur-friendly regulations and low cost of doing business make it an extremely profitable location for starting a medical equipment selling company.
The Ministry of Health and Prevention of the United Arab Emirates (UAE) maintains a registry of all medical equipment and pharmaceutical goods. The federal legislation stipulates that only medications, medical equipment, and other pharmaceutical goods that have been approved for distribution in the nation may be supplied inside the country. As a result, only goods that have been registered will be permitted to enter the country. Any business that wants to deal in medical equipment must also register with the UAE Ministry of Health and Prevention, both for the company and for the equipment that it wishes to trade in.
What kind of licence is needed in order to trade medical equipment and supplies?
In order to establish a medical equipment selling firm in Dubai, you must first get a commercial licence and register your company on the Dubai mainland. Company registration in Dubai mainland is handled by the Department of Economic Development (DED), which is the licencing body in charge of issuing company licences.
Only Limited Liability Companies (LLCs) are available to foreign nationals when registering their businesses in the United States (LLC). In order to establish a limited liability company in Dubai, it is necessary to collaborate with a local sponsor (UAE National). According to UAE commercial law, the local sponsor will be a 51 percent stakeholder in the business, with the remaining 49 percent held by the non-UAE national partner or partners.
What papers are needed for the registration of a medical equipment trade company?
To register a medical equipment selling business in Dubai, you must submit the following documents to the Department of Economic Development (DED):
Trade Name Alternatives: There should be at least three different options for the business name.
Activity in the business world: Specify the kind of activity in which your company will participate. The following are the most important business operations for a medical equipment trade company:
Articles and Requisites for Medical and Surgical Practice Trading in medical, surgical, and instrumentation equipment and instruments Trading
Copy of your passport: Among all of the stockholders
Validation of the visa: If a partner is on a Visit Visa or a Residence Visa for a partner who is living in the United Arab Emirates, an entry stamp or visa page is required. Identification number of the local sponsor
What is the procedure for submitting an application to begin trading medical equipment?
Obtain Initial Clearance from the Department of Economic Development (DED) – obtaining this approval indicates that the UAE government has approved your company’s establishment in the UAE. Without receiving this permission, you will be prevented from proceeding with the following stages in the application process.
To get trade name approval from the DED, one of the three trade name choices submitted must be approved by the DED.
Prepare and sign the Memorandum of Association (MOA) — at the time of signing, the Local Sponsor and at least one partner, if not all, must be present.
Because of the present circumstances, which includes numerous travel restrictions, signing the Memorandum of Agreement (MOA) is done online.
The rental of a physical office or desk space is required for all mainland Dubai companies in order for them to operate legally on the island.
Please provide the tenancy agreement.
Obtain any further permissions that may be required.
Make the necessary payments.
Obtain a business licence.
There are two types of activity groups that fall under the category of Medical Equipment Trading:
Medications Purchasing and Selling
Medical, Surgical Articles, and Requisites Trading Mechanical & Engineering Equipment Trading Mechanical & Engineering Equipment Trading
Reselling specialised medical equipment and precise medical apparatuses for the treatment of certain illnesses and ailments is included in this category. The term also refers to equipment such as medical shoes, prosthetic limbs, cardiac patient batteries, and replacement components for injured organs, among other things. This activity is classified as part of the Medicines Trading industry.
Trading in medical, surgical, and laboratory equipment and instruments
Aspects of this business include the resale of tools and equipment used in hospitals and clinics for diagnosis, treatment, physical therapy and rehabilitation, and x-rays, among other things. The collection also contains manual kits and tools for surgical procedures and bandaging, as well as equipment for check-ups and disinfection. Mechanical & Engineering Equipment Trading is the category in which this activity is classified.
Registration of the company with the Ministry of Health and Prevention in the United Arab Emirates
You must first register and categorise your goods in order to register your business. There are many different kinds of registrations to select from:
If your business intends to import the products and sell them directly to hospitals or any other healthcare institution, you (the importer) will need to be registered as an authorised reseller of the equipment in order to be successful. In order to operate legally, your business must register with the Ministry of Health and Prevention and adhere to its regulations, which include reserving a minimum amount of warehouse space.
If your business intends to deal with healthcare institutions or hospitals via an intermediate registered seller, no registration or warehousing will be needed.
A medical equipment trading business in Dubai may be established at any moment, and now is an excellent time to do so. As a result of the current worldwide pandemic, there is an urgent need for essential medical equipment to assist and support medical experts in Dubai and across the globe who are working hard to bring this catastrophe to a successful conclusion.