How to set up a tyre trading company in Dubai?
Dubai is one of the emirates, strategically located for international business and trade. Its geographic location has facilitated easy connections, business networking, and access to trade making it the perfect home for businesses to go global. Dubai’s business-friendly policies and robust sea and air infrastructure connect with 400 international cities. Apart from the jewels, perfumes, and food market, there are other sectors just as rewarding.
For example; Tyre trading is such a biggie in Dubai. If you are someone searching for a successful and rewarding business to do, consider tyre trading. Dubai is a major player in the tyre trading market with an industry worth USD 1.5 billion. If you have the proper idea, skills, and expertise you have something big to achieve with the tyre trading business in Dubai. For more details and assistance to set up a tyre trading company in Dubai, Connect with Bizvise.
Before starting a business, it’s smart to do some research on it. Well, we have got you covered with everything you should know about tyre trading in Dubai. Let’s start with the benefits.
Benefits of Starting a tyre trading company in Dubai.
- The growing demand for the industry.
- Easy incorporation procedures and low barriers to entry.
- For both corporate and personal income, the emirates tax rate is at 0%.
- The VAT is at a flat 5%.
Steps to start a tyre trading company in Dubai.
Setting up a new business in Dubai is no big deal. Even if it is so, a little help or assistance from a trusted consultancy such as Bizvise will be needed. Bizvise will help you to make these procedures super easy in a cost-effective way as we have expertise in this field. We make sure all your documents are accurate and in order, before proceeding with your application. And to begin with, the steps are;
Choose a name for your company
When you choose a name for your company, please abide by the strict naming criteria. You should avoid offensive, unethical and blasphemous terms.
After choosing the name you can apply for a tyre trading license. This application should be made to the Dubai Department of Economic Development DED or equivalent Municipality if you wish to set up elsewhere in the emirates.
Apply for the tyre trading license
To apply for a tyre trading business license, you will need to provide documents such as;
- A completed application form.
- Articles of incorporation
- Passport copies of all shareholders
- Brief description of intended business activities
Apply for Visa
If you are planning to reside and work in the UAE, you will need Visa. You can also sponsor Visas for your employees, family, and domestic staff as well.
In all cases, the steps to apply for the visa are as follows:
- Apply for an entry permit
- Status Adjustment
- Medical and fitness test
- Emirates ID registration
- Visa stamping
Opening a bank account
You will need a bank account either local or international to carry out economic activities. Opening a bank account is complicated and you will get help from Bizvise.
The cost of setting up a tyre trading company in Dubai
A tyre trading license usually costs between AED 10,000 and AED 15,000. This is just an estimation and this may exceed according to the size, location, and other requirements of your company. Apart from your license cost, you should expect the expenses for equipment and if you intend to import or export tyres you will have to pay customs taxes as well. Bizvise will help you with every detail of the costs. All you need to do is to contact us.
To make sure that everything is on spot, connect with Bizvise and we will take care of all these complicated procedures. Bizvise will help you not only with the application procedures but also with opening bank accounts, and handling government formalities, permissions, permits, and applications required to trade in the UAE.