Prime Tower, Office# 2707, Business Bay, Dubai, UAE
The global and UAE pharmaceutical market have experienced growth as increasing demand has been accompanied by scientific advances leading to product innovation with newer and potentially more useful medicines. This supply and demand side growth in the overall market has been accompanied by development of niche markets which are estimated to have experienced relatively fast growth, says a latest analysis by Dubai Chamber of Commerce and Industry.
Sales in the UAE pharmaceutical market are estimated to have been valued at around $3.1 billion by 2018. Market size is estimated to have increased from around $2.4 billion in 2015. The majority, around 86 per cent of total pharmaceutical sales in 2018, were sales of prescription medicines. The UAE is estimated to have imported around Dh14.9 billion worth of products as part of pharmaceutical products (HS 30) from the world market in 2018, according to data from the UAE Federal Customs Authority.
Healthcare which is not related to preventive or treatment will be subject to five per cent VAT. But the following healthcare services related to well-being of human beings are zero-rated: Preventive healthcare including vaccinations; treatment-related services including medical services and dental; pharmaceutical products and medical equipment identified by the Cabinet decision
from corporate tax
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2 Persons can open up an LLC
The maximum number persons or employees an LLC can have is 50
If you want to open an LLC in Dubai then you have to invest a minimum of AED 300,000/- or USD 81,744/- which is abysmally when compared to the higher forms of organization set ups.
If you want to open an LLC in emirates other than Dubai, then the capital requirement is further down to AED 150,000/- or USD 40, 872/-.
The DED is the vital government body for registering and licensing companies who intend to do business in the mainland of Dubai. The DED recently has been updating its rules and regulations to act as a one stop shop service centre for all licenses in mainland Dubai. Today DED provides fast track services compared to most of the government authorities in other emirates or neighbouring Gulf countries.
Draft the MOA and AOA
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