Introduction
New Automobile Trading for Export has become a booming industry worldwide. Dubai offers a golden opportunity for this business due to its strategic location and excellent infrastructure. This business includes firms dealing in exporting new cars only. These firms are not allowed to open shops and sell cars directly to the public as “New Motor Vehicles Trading.”
Setting up a New Automobile Trading for Export business in Dubai provides access to the Middle East, Asia, and Africa. The city’s business-friendly policies ensure smooth operations for entrepreneurs looking to benefit from competitive company setup costs and world-class logistics.
Business Opportunities in New Automobile Trading for Export in the UAE
The economy of Dubai caters to several different industries, such as automobile exports. International markets have a high demand for new cars, providing tremendous profit opportunities. The clients include dealerships, rental businesses, and government institutions in need of importing high-quality vehicles.
Dubai’s advanced logistics, ports, and tax-free policies make it an ideal hub for vehicle exports. The growing global demand for fuel-efficient and electric vehicles further enhances business opportunities. The city’s automotive trade exhibitions and events provide excellent networking and business expansion avenues.
Required Documents for Setting Up a New Automobile Trading for Export Business
Before starting your entrepreneurial path, it is imperative to compile the required documentation for a New Automobile Trading for an Export Company:
- Trade Name: Choose a name that uniquely captures your brand.
- Company Structure: Specify ownership, shareholding, management rights, and banking authority in your company structure.
- Company Capital: Calculate the necessary starting capital.
- Office Space: Choose between a virtual office or a real one depending on your situation.
- Corporate Shareholder Structure: Follow this guideline if applicable.
- Passports Copies for Shareholders: Essential for all the engaged parties.
- Visa Copy: If applicable.
- Emirates ID: If you are a resident.
- Mobile Number & Email ID: Important for formal correspondence.
- Power of Attorney: If required for representation.
Tip: Contact expert advisers to guarantee regulatory compliance and aid to minimize unwarranted expenses.
How to Set Up a New Automobile Trading for Export Business in DED (Mainland)
1. Visit a DED Center: Start your journey by visiting a Department of Economic Development center.
2. Apply for Trade Name and Initial Approval: Send in your application; it costs over AED 900.
3. Draft the MOA: This document should be structured expertly, so consider consulting an expert.
4. Request Third-Party Approvals: Get approvals if your company’s operations require them.
5. Arrange your office lease (Ejari): Complete your contract for either a real or a virtual office.
6. Submit All Documents & Pay License Fee: Your company license will be issued once you submit it.
Next Steps After Business Setup in Dubai
- Open an Immigration and Labour File: Crucially important for visa applications.
- Corporate Tax Registration: Complete within 45 days to escape a penalty of AED 10,000 (Read more).
- VAT Registration: Needed should your turnover be more than the permitted level.
- Apply for Visas: For staff as well as for the owner.
- Open a Business Bank Account: Use a thorough guide for the seamless business bank account opening.
- Subscribe to a Free CRM: Tools like Fynpro help to simplify everyday tasks, bills, and document handling.
How to Set Up a New Automobile Trading for Export Business in a Free Zone
1. Choose the Right Free Zone: Consult professionals to choose the appropriate Free Zone depending on your company’s activities and financial situation. Avoid expensive blunders like choosing pricey Free Zones like DIFC/JAFZA when more sensible choices like IFZA might be enough.
2. Sort necessary paperwork:
- Passport & Visa Copies
- Email address and mobile number
- Home Country Address
3. Submit Documents & Complete KYC Process: Usually done online via email or video conference.
4. Sign MOA and get your license: Get your license either by email or via an agency.
Reference: If you have a corporate shareholder, refer to this guide.
Next Steps After Free Zone Business Setup
- Register for Corporate Tax within 45 days: Avoid AED 10,000 penalty by timely registration.
- Apply for visas: If your business activities require them.
- Open a Business Bank Account: Use this detailed guide for effective setup.
- Subscribe to a Free CRM: Tools such as Fynpro help to effectively handle all the important corporate chores.
Conclusion
Starting a New Automobile Export Trading venture in Dubai provides immense scope for profitability and growth. UAE is endowed with a strategic location, robust infrastructure, and a business-friendly environment. Due to planning and regulatory formalities, compliance will make the venture successful. Availing the services of expert advice will lead to an easy and cost-effective process.
Looking to start your New Automobile Trading for Export business in the UAE? Contact RAS Corporate Advisors for expert assistance!