The concept of business has been a lifeline to the economy of the United Arab Emirates that has uplift the nation to it’s next level.
Pharmacy License in the UAE
The concept of business has been a lifeline to the economy of the United Arab Emirates that has to uplift the nation to its next level. Be it in the oil or non-oil sector, the nation has opened its arms for all. The UAE serves as a hotbed for entrepreneurs and established business persons in every industry. When it comes to the health-care industry, the opportunities are way-high and reaches the next level. Hospitals, Doctors, pharmacist, have got a vast platform to upgrade their skills and later on establish a business in the UAE. When it comes to the establishment of a pharmacy, it requires the owner to hold a license. If you are into the medical profession and wants to set up a pharmacy business, then the UAE is the ground you should go for.
Pharmaceutical Industry in the UAE
The UAE pharmaceutical industry is the second-largest market in the GCC region after Saudi Arabia. According to the analysis done by Global Data, the industry is expected to grow by $5.7 billion by 2020 as medical tourism has been rapidly increasing in the past few years, and is on the edge of attracting 1.3 million tourists by 2021.
The UAE Pharmaceutical industry imports its products from 72 countries that make it an established ground for import-export business. The Government has been taking multiple initiatives to ensure long-term growth in this sector. The heart of UAE, Dubai, seeks to attract $2.5 bn to the sector and this strategy is a part of 2030 industrial strategy.
Pharmacy License in Dubai
According to the Federal Law No. 4 stated in 1993, any person who is planning to set up a pharmacy business in Dubai needs to obtain a pharmacy license from the Department of Health Authority (DHA) to initiate the business operations, be it selling or manufacturing medicines. So, if you are aspiring to establish a company in Dubai, in the pharmaceutical sector, which holds a potential to become a thriving market in the future, you need to keep in mind that at the initial phase of company establishment, document plays a crucial role. In the next section of the article, you will be getting clarity regarding the documents that need to be presented.
Documents Required to Set Up a Pharmacy in the UAE
In order to start the process of setting up a pharmacy business, you should have the following essentials in-hand.
- Duly filled application form
- Approval for pharmacy premises along with tenancy contract
- Blueprint and certified architectural planning
- Copy of passport of the owner
- Location and Professional License issued by Dubai Trade Register
- Certificates and List of all the employees involved in the pharmacy business
The submission of the documents stated above will ensure that your pharmacy business gets incorporated in the region.
How to Set Up a Pharmacy in the UAE?
To set up a pharmaceutical company in the UAE, a pharmaceutical license is to be obtained. To obtain the same, the following steps need to be initiated.
Phase 1: Initial Approval
- The first step is to get registered with the Health Regulation Department (HRD)
- When it comes to commercial use of the premises, approval is required from the Dubai Municipality
- The documents stated above need to be submitted to the HRD and obtain the initial approval letter, which might take a duration of 10 days
- Once you get the initial approval letter, you need to submit the same in order to obtain a commercial license from the Department of Economic Development (DED) in Dubai
Phase 2: Final Approval
- Initiate the business setup process by having a word with one of the experienced business setup professionals
- The HRD will conduct an online assessment that you need to clear
- Once you clear the assessment and the conditions are met, the pharmacy license will be issues
A well-established plan to conduct an error-free company establishment process is hard to figure out in a foreign land. The complete process of establishing a company in a foreign land involves critical documentation process, along with legal laws that need to be followed. Having a helping hand beside you can ease the process to a great extent if your guide holds industry experience and is entirely aware of the foreign rules and regulations that are to be followed. If you are looking for a helping hand, we are here to help you in every step.
Setup Dubai Company| Your Business Set Up Guide
At Setup Dubai Company, we have been serving clients across the world to incorporate their businesses, and we have been dealing with clients dealing in different industries. We stand as one of the best business consultants in the UAE as our business experts are well experienced and can provide custom solutions according to your business needs. Do contact us for any query- we’d be glad to assist.