Dubai is trying to maintain its status as an investment hub globally. One of the overall growing sectors is the cosmetic industry which has a significant potential to give expected returns to the investors.
By following the vision, the government-aided free zone area policies are attracting foreign investors to the country. Although, specific rules, regulations, and procedures need to be followed by the investors.
This blog will explain the steps you need to follow to setting up a cosmetic business in Dubai.
Pre-requisites before Applying for Trading License
You will need a trading license to sell cosmetic products in Dubai. However, before applying for one, please ensure you complete the following steps:
Approval of the Company's Name
Name registration is the first step towards setting up your cosmetic business in Dubai. You must be careful while selecting the name of your business and follow the naming convention guidelines that provide which company names are offensive or duplicate.
Decide the Business Location
You can set up your cosmetic business on the mainland or free zones. You must understand the pros and cons of setting up a business in each location while also evaluating the number of competitors in the area you want to set up your business.
Licencing of the Cosmetic Products
You must register your cosmetic products on the online portal of Dubai Municipality before starting any business activity. You can follow the registration process mentioned on the product registration portal of the Dubai Municipality.
You must follow relevant regulations related to the cosmetic product registration in Dubai, such as:
- The company's product should not contain any prohibited or restrictive material by the country.
- The company should use products only for the external part of the body like nails, hair, face cream/powder, or that improves fragrances, body odor, cleaning of the body part, or protecting the skin.
- Other licensing policies and procedures are available for different product lines, and the company must compulsorily follow them.
- While importing cosmetic products from a foreign country, businesses must attest documents with the embassy.
Application for the Trading License
You can apply for the
trading license for a cosmetic business in Dubai at the Department of Economic Activities (DED). However, if you wish to set up your business in any free zones, you must submit your application to the respective free zone authority.
The license registration will involve some fees, including license registration, visa approvals fees, etc.
Once you receive the trade license, you obtain visa approvals and open bank accounts to start your business activities.
Obtain Visa Approvals
Once you obtain your trading license, you can apply for your visa along with your family members’ visas. You can apply along with the requisite visa fees, and the visa approval process would require you to submit relevant documents.
You will also need to sponsor your employees' visas; hence, the license is the foremost thing to receive to get visa approvals and open a bank account. FlyingColour can help you with all the processes of obtaining the visas.
Open a Bank Account
You can apply for a new bank account with the license copy and other relevant documents to receive your sales income in the bank account. Bank account transactions get cost-effective, time-efficient, and less government intervention if it belongs to the same country.
It will provide several benefits like an extended credit facility, a higher limit for loans, and attractive interest rates on current account balance, which helps businesses smoothen up financial transactions. We at FlyingColour provide end-to-end assistance to our clients in the process of opening a company bank account in the UAE.
The Bottom Line
The registration process becomes relatively smooth under an expert’s guidance. It is always a best practice to consult a company registration professional to complete your registration process flawlessly.
How Can We Help?
At
Flyingcolour, you can get the proper consultations for all your company registration requirements. Our qualified professionals can help you prepare your application documents and apply for your license to the concerned authorities hassle-free.
We can also assist you in accounting, taxation, financial modeling, company registration, and PRO requirements.
Register your
free consultationwith us to know more about the comprehensive services. To get more information contact us directly at +971 50 5585305.
