How to set up a pharmacy in Dubai-3a global corporate services provider-uae

How To Setup A Pharmaceutical Company In The UAE?

Strategic plans such as Dubai Industrial Strategy 2030 identify the pharmaceutical industry as a key area of focus, contributing to the industry’s rapid expansion and development in the UAE. Although the United Arab Emirates’ (UAE) share of the global pharmaceutical market is low at 2%, it has been expanding at a rapid clip of about 10% per year over the previous five years. Foreign investors are drawn to the country to start pharmaceutical company in the UAE. because of its excellent location and the government’s efforts to promote domestic pharmaceutical manufacture in the UAE.

Analysis of the Pharmaceutical Industry in the UAE

  1. The pharmaceutical business in the UAE has been highlighted as a high-potential sector for growth in both the UAE’s Dubai Industrial Strategy 2030 and Abu Dhabi Vision 2020.
  1. While the United Arab Emirates’ (UAE) pharmaceutical market share is very small, it has been expanding at a rate of roughly 10% per year.
  1. The government of the United Arab Emirates wants to increase domestic pharmaceutical production to lessen the country’s reliance on foreign suppliers.
  1. The United Arab Emirates (UAE) is ideally situated for the pharmaceutical industry because of its strategic location, which gives easy access and transit channels.
  1. Government Support: The government of the United Arab Emirates (UAE) provides incentives and benefits to the pharmaceutical companies, such as the establishment of free zones specifically for the pharmaceutical sector.
  1. Adopting New Technology: the government has embraced cutting-edge technology to improve the standard of pharmaceutical production.

Free zones that cater specifically to the pharmaceutical industry include Dubai Healthcare City, Jebel Ali Free Zone, and Dubai Science Park.

Advantages Of Starting a Pharmaceutical Company in Dubai

  1. Dubai’s health care facilities are among the best in the world, providing cutting-edge diagnostic and treatment options.
  1. Medical Tourism: Patients from all over the world seek out the thriving medical tourism business because of the high quality of care available at affordable prices.
  1. There is a sizable middle class in Dubai with disposable incomes that make the city an attractive market for pharmaceuticals.
  1. Presence of Multinational Companies: Many of the world’s largest pharmaceutical corporations have established local branches in Dubai, a sign of the region’s allure.
  1. Government backing: The pharmaceutical industry in Dubai receives substantial backing from the Dubai government.

Pharmaceutical Companies in Dubai, United Arab Emirates

  1. Pharmacy: Pharmacies in the UAE are a fast-expanding industry, serving locals and tourists alike with a wide range of FDA-approved medications, medical supplies, and consumer goods. Pharmacies owned by a global corporation are an option for foreign investors.
  1. The Drug Store: drug stores serve as hubs for supplying pharmacies with wholesale quantities of supplies.
  1. Para Pharmaceutical Trading entails the buying and selling of prescription-related but non-prescription medical supplies such bandages, lotions, and adhesives.

Legality In Pharmaceutical Business In The UAE

  1. Foreign Ownership: Foreign investors can set up drug stores in Dubai so long as they have a UAE partner.
  1. Licensing: Businesses producing or selling pharmaceuticals are required to get a pharmacy license from the UAE’s health authorities.
  1. You’ll need a pharmacy license from the Ministry of Health, the Dubai Health Authority, and the Health Regulation Department.
  1. The Dubai Municipality requires the registration of all pharmaceutical items prior to their sale in Dubai.

Why does the selection of the right business consultants matter?

When starting a Pharmaceutical company in the UAE, the most important thing is selecting an experienced business consultant. They will ensure that your  licensing and other tasks like accounting, bookkeeping, and bank account opening are executed without delay and mistakes. This is crucial because choosing a substandard agency to save a small amount of money can lead to significant trouble. The rules and regulations are complex, and without the right knowledge of packages, you may lose a significant amount of money during renewal or liquidation, etc.

How 3A Global Corporate Services Provider Can help Your Business?

To get a Pharmaceutical license in the UAE requires assistance from experienced and talented professionals. We have 16 years of experience in company formation  in the UAE. Feel free to contact us for expert advice.

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