How To Start Spare Parts Business In Dubai, UAE
Start Spare Parts Business In Dubai, UAE
Are you an expert in spare parts and want to earn some money with your expertise? If yes, we recommend you kick-start your Spare Parts Business in UAE. You might feel happy after knowing that the demand for spare parts business is steady because of increased competition, desired improvement in the automobile sector, and growing population. It means you can enjoy countless profits by starting your spare parts business in this city.
While there is an increase in the Car spare parts market in UAE, you must follow some essential steps to start your spare part company in Dubai, UAE. Here, we will explore the steps you need to follow to start your spare parts business in Dubai. Plus, we will discuss some essential insights about this business.
The Spare Part Industry in the UAE – Overview
As mentioned above, the spare parts industry in the United Arab Emirates (UAE) is rapidly growing. Do you know many reasons exist behind the rapid growth in the spare parts sectors in the UAE? For example, the UAE supplies spare parts in the Emirates and numerous countries across the Middle East, Africa, and Indian subcontinents.
The nation has strongly committed to becoming a preferred location for your spare parts business. For example, the commercial zone in Dubai solely aims to trade spare parts. You might be surprised to learn there is no surcharge on auto parts and accessory trade in the UAE.
Are you looking for more reason? The UAE government also encourages original equipment manufacturers (OEMs) to develop spare parts locally to reduce prices by removing transport needs.
You might also be shocked to know there is a booming vehicle modification scene in the United Arab Emirates. Many youngsters in the UAE seek aftermarket parts to accessorize their vehicles to make them look more unique and increase their overall performance.
You should remember one thing here it’s not only about cars. Demands for all types of trucks are robust because of the continued growth in infrastructure development in the UAE. Therefore, all transport company owners look to purchase OEM parts from the local aftermarket.
We are sure some of you might still not be convinced to start your spare parts business in Dubai, UAE. In that case, you should read the benefits of starting the Spare Parts Business In Dubai, UAE in the next section.
Top Benefits Of Starting Your Spare Parts Business In Dubai
Dubai gives you uncountable benefits for starting your spare parts business in this city. Let us explore the top benefits you can enjoy by setting up your spare parts business in Dubai:
1. Favorable Free Zone
You might be delighted to learn that Dubai is a hub for many Free Zone areas with a business-friendly environment. These locations provide beneficial conditions for your spare parts business in the UAE. You can get 100% ownership of your spare part business in these free zones. In addition, you can access perks of 100% repatriation of capital and profits. In short, you should open your auto parts business in the Dubai Free Zone if you prioritize an expeditious establishment.
2. Supportive Government initiatives
As discussed above, the UAE and Dubai governments actively support the expansion of the automobile industry and motivate global investment in the economy. The government also eases localized spare parts production with OEM. Furthermore, Dubai’s well-established logistics and world transportation hub give you logistical benefits in the auto spare business.
3. Desirable Work and Living Environment
The auto spare parts business lets you afford luxurious living in a porch location in Dubai. You will surely feel lucrative to be living because of its low taxes, amazing lifestyle, and high quality of living.
What are the steps for setting up a spare parts business in Dubai?
When setting up your spare parts business in Dubai, you should be ready to follow some steps. The following is the list of steps you need to follow to start your spare parts company in this city:
1. Choose the business activities
You should initially determine the business activities that your spare part business will engage in. At this step, you must decide what exactly will be done whether physical shop trading in auto parts or online business. In short, you must prepare a business activities list before your organization can begin trade.
2. Register your auto spare parts name
After determining the business activities, choose a legal trade name for your spare part business in Dubai by adhering to the UAE naming guidelines. You should keep your business name attractive and unique. In addition, you should avoid any offensive or religious element in your business name.
3. Choose the right location
Next, you should finalize the perfect location for your Spare Parts Business in Dubai. When choosing a location for your Spare Parts Business, you should consider factors like your business needs, networking requirements, and staff size. We suggest you select a Free Zone to enjoy 100% ownership of your Spare Part Business.
4. Obtain the pre-approval certificate
After selecting the perfect location, you should obtain a pre-approval certificate by submitting the required documents to the relevant authority. You need this certificate to streamline the licensing process and acquire the trade license for your Spare Parts Business.
5. Get the trade license
Next, you should determine the appropriate business license type based on your business operation and any other special approval needed. Here, you should submit all essential documents for regulatory authorities to review. Once approved, you will be given a trade license for your Spare Parts Business.
6. Apply and get the visas
Suppose you plan to live in Dubai with your family members while conducting your business. In that case, you should apply for a family visa. Plus, you should explore visa options for your staff, partners, and more.
How can Flyingcolour Business Setup help you?
Starting your spare parts business in Dubai can be a profitable decision. However, the process of setting up your spare parts business can be difficult because it involves several steps. Flyingcolour Business Setup can assist you at each step of starting this business. Plus, our experts may help you to make this procedure easier.
To learn more about Start Spare Parts Business In Dubai, UAE, book a free consultation with one of the Flyingcolour team advisors.
Please note that this article was published on 15/06/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
