Is Pharmacy a Good Business in Dubai?

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Start a Pharmacy Business in Dubai

Dubai has become one of the most outstanding countries in the UAE with advanced healthcare medication and treatment. UAE is a highly developed country with a higher population rate. That is why it includes extremely advanced and latest healthcare, infrastructure, economic diversification, and educational facilities. 

According to a statistic, the pharmacy business in Dubai will grow by 4.52% by 2028. Thus, starting a pharmacy in Dubai will be a profitable business for you. But for this, you should have a clear understanding of pharmacy setup in Dubai to get an idea about the total cost of opening procedures, investment, and more. 

Is starting a Pharmacy a Good Business in Dubai?

As per some reports and data, in the upcoming 5 years, the pharmacy market in UAE will expand at a CAGR of 9%, indicating a high demand for the medicines. Thus, opening a pharmacy business in Dubai will help you in accessing this highly extended market. Besides this, other advantages of pharmacy startup Dubai are as follows:

 

1. Lower tax rates

There are very competitive tax rates for the pharmacy business in Dubai. This means you will have a high turnover and can further invest in the business. With the help of Flyingcolour Tax and Consultant, you can get the best tax rates without paying more. 

 

2. Rewarding venture

Pharmacies assist in treating sick people and improving their well-being and health. They aid communities in treating different conditions and diseases that can relieve their sickness and pain. So, opening a pharmacy business in Dubai is always a rewarding venture as it will improve the lives of the people. 

 

How to do a pharmacy setup in Dubai?

To take advantage of the healthcare center in Dubai, a pharmacist or an entrepreneur has to go through the following processes.

1. Document clearance from DHA

You should have clearance from the Dubai Health Authority to meet all the pharmaceutical standards and policies and get permits for running the business. If you are manufacturing or selling any pharmaceutical equipment, then you also need to get clearance from DHA. Flyingcolour Business Setup Services can help you get a pharmacy business license in Dubai without difficulty in two stages.

 

• Initial Phase

In this stage, you have to submit a business proposal with the location, schematic blueprint, plot number, and other details to the HRD (Health Regulation Department). If it meets all the Dubai Healthcare policies, they will review and pass the proposal. 

• Final Phase

Next, you have to apply for a mainland application to the DED (Dubai Department of Economics Development). In this phase, you have to submit a final inspection request by HRD. They will pass the pharmacy license in Dubaiif it permits all the HRD recommendations. 

 

2. Select the Location

Selecting an appropriate location for the pharmacy business is exceptionally vital. As a pharmacy owner, you have to make sure that your shop should meet all the guidelines and policies of the Dubai law. You should check out the criteria below before finalizing any location:

 

• The neighborhood should have a need for pharmaceutical services
• The store should always be near doctor clinics, crowded areas, medical centers, hospitals, and others
• The location should include good parking space and not have any more pharmacy store
• Should survey the demographics of the location like elderly population, disease conditions, living standards, and many more
• Consider the infrastructure expenditures and rent

 

3. Documents Necessary

You will need numerous documents like the ones below for hassle-free approval of the pharmacy business license in Dubai.

 

• Pharmacy certification from a reputed medical training institute
• CV with previous experience as a pharmacy owner
• Residential visa
• Passport and National ID photocopy of the owner
• Passport size photographs
• Two years experience in the pharmacy field
• Registered trade license from DED
• Premises leasing contract
• Bank details
• MOA or Memorandum of Association

 

4. Regulation of DHA

You have to comply with all the regulation standards of DHA, like below.

 

• Employing enough degree-holder pharmaceutical technicians and pharmacists
• Clear and visible store closing and opening hours
• The store should be at least 200 meters away from another pharmacy store
• The shop should be present on the ground floor of any building
• The pharmacy should be a minimum of 20 square meters
• The medicines should be present appropriately on the shelves
• The shop should have an air conditioner
• It should include curtains to stop the sun heat exposure
• The pharmacy license in Dubai should be properly displayed
• Need to have airtight containers for all the controlled medicines
• Should have a digital thermometer displayed refrigerator
• It should include a fire extinguisher and a device for insect deterrent

 

5. Legal formalities

Any non-citizen of the UAE cannot apply for or start a pharmaceutical store. Thus, for a pharmacy investment in Dubai,you should be a national citizen of the UAE and can operate only 2 pharmacy stores simultaneously. A retail non-citizen owner of a pharmacy shop cannot convert it into an LLC (Limited Liability Company). They have to incorporate a UAE owner as one of the major shareholders of the store to do it. 

 

You have to declare to the DHA during your pharmacy license application if you want a sole proprietorship or LLC business structure. DHA will issue the business license to the UAE citizen shop owner. 

Cost of setting up a Pharmacy Shop in Dubai

You have to consider the following aspects while calculating the costs of setting up a pharmacy store in Dubai.

 

• Initial fees for the setup
• Permits and visa verification 
• Rent of the store
• Consultancy and legal fees
• Insurance charges
• Miscellaneous charges

 

How can Flyingcolour Business Setup help you?

When you want to do a pharmacy startup in Dubai, there are many factors and legalities to consider. It includes taking care of the license application, picking up the location, collecting all the legal documents, and many other formalities. Thus, it becomes difficult for the pharmacy shop owner to handle these things or find suitable staff, order and stock up medicines, or create a marketing plan. Flyingcolour Business Setup Services can take these entire burdens from your shoulders and save you hours of work. The company is highly experienced in pharmacy setup in Dubai and has provided immense support in the process. 

To learn more about Is Pharmacy a Good Business in Dubai, book a free consultation with one of the Flyingcolour team advisors, simply call +971 50 5585305 or send WhatsApp messages to +971 4 4542366. you can also drop an email to info (at) flyingcolour (dot) com.

Please note that this article was published on 08/04/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.