The healthcare sector is booming everywhere in the world; Dubai is not an exception to this. Healthcare and wellness business in Dubai is a lucrative venture, if we look at it from the angle of the growing demand for quality healthcare services in the region.
Considering the economic nature of Dubai, virtually all businesses that are set up can thrive. However, the rate at which the businesses thrive may differ. Healthcare businesses are one of the businesses with high rate of success.
There are numerous possibilities for your business setup to boom within a very short time, if things are done the way it should. It’s a business that is lurking at your doorstep and awaiting you to take steps. There is no better time for you to start a healthcare business than now.
United Arab Emirates has a cutting-edge medical and healthcare technologies, hence patients come to Dubai from all over the world to receive various treatments. It is one of the most promising industries in the nation for investment in this business. Dubai, the country’s capital, brags about providing top-notch medical treatment through both the private and governmental healthcare systems. This prompts many foreign investors to ponder how to start a healthcare business in Dubai.
Why Should You Start a Health Care Business in Dubai?
There is a tax-free environment, a good location, and easy business setup in Dubai. Additionally, Dubai has a business-friendly atmosphere, and it has the luxury to offer you numerous chances, and can also encourage you to give back to society. Taking the plunge to start a healthcare and wellness business in Dubai has numerous benefits:
- You will enjoy full ownership of your business.
- Absence of income and company taxes.
- Your products and services are not required to pay custom taxes.
- The city has a huge selection of custom real estate options
- Dubai provides you the opportunities to collaborate with people of the same industry.
Types of Health Care Set-up in Dubai
Here is a list of potential healthcare fields you might invest in if you want to launch a business in the sector in Dubai:
Ambulatory Centres
They are also known as outpatient clinics. They offer medical services where patients do not need to stay overnight. These facilities cater to procedures such as minor surgeries, wound treatment, and physical therapy, among others, without requiring extended hospital or clinic stays.
Healthcare Investment Management
Another concept involves the creation of a healthcare investment management firm in Dubai. This entity would aid healthcare institutions such as hospitals and clinics in effectively managing their financial assets and investments.
Professional Development Training
Ensuring the quality of services provided by hospitals, clinics, and other medical facilities hinges on having a skilled workforce. Consider launching a venture that provides concise courses in human resource development, social and behavioral training, professional growth, and clinical skill enhancement. This initiative could significantly contribute to elevating the competency levels within the healthcare sector.
Higher Education Providers
With the current boom in the global education sector, numerous opportunities exist in providing education tailored to the healthcare and medical fields. In Dubai, options include founding a junior medical college, establishing a venture focused on technical healthcare education, or launching a medical university. These endeavors align with the growing demand for specialized education within the healthcare industry.
Medical Publishing
Both students and healthcare professionals constitute the target market for this sector. The medical publishing industry encompasses various formats, including medical journals, clinical research papers, databases, online content, and medical books. These diverse formats cater to the informational needs of individuals within the healthcare community and those pursuing medical education.
Non-Profit Healthcare Organization
Establishing a non-profit healthcare organization in Dubai could provide assistance to individuals nationwide, particularly those who are underserved or disadvantaged.
Private Clinics and Hospitals
Private clinics and hospitals are often preferred by patients due to the personalized care and superior quality of service they provide. Given the high standards of Dubai residents across various aspects of life, such as lifestyle, education, and healthcare facilities, establishing this type of healthcare business in Dubai is poised for success. However, obtaining the requisite authorizations, licenses, and permits for a private clinic in Dubai is essential for launching and operating such a venture.
Healthcare Consultancy
As the medical and healthcare sectors experience rapid growth and development, the need for healthcare consulting becomes increasingly vital due to fierce competition. By engaging knowledgeable consultants within your organization, medical facility providers can effectively stay ahead and navigate the evolving landscape of the industry.
Steps to Start a Health Care Business in Dubai
If you want to open a hospital or clinic in Dubai, you must follow the steps below:
- Select the type of business or legal entity. It could either be a Limited Liability Company or a branch. . A limited-liability company LLC is a common choice for entrepreneurs looking to start a business with limited personal liability.
- Select a name that reflects the values, services, or specialization of your hospital. Once you’ve finalized the name and ensured its availability, proceed to legally register it with the appropriate government agencies. In Dubai, this typically involves registering your hospital name with the Department of Economic Development (DED) or other relevant authorities responsible for business registration.
- When starting a healthcare business in Dubai, it’s essential to submit your business plan along with the necessary paperwork to the relevant authorities. This typically involves providing details about your business structure, services offered, financial projections, and compliance with regulations. The paperwork may include application forms, identification documents, proof of premises, and other required documentation. Once submitted, the authorities will review your application and issue the necessary approvals and licenses to commence operations.
- When establishing a healthcare business in Dubai, presenting the shareholder resolution to the board is a crucial step. This resolution formally approves the decision to establish the business and outlines key details such as ownership structure, investment commitments, and strategic direction. Presenting this resolution demonstrates transparency and ensures alignment among stakeholders regarding the establishment of the healthcare business.
- Submit the articles of association and memorandum, both signed by each shareholder. These documents outline the company’s internal regulations and key information about its operations.
- Have a contract signed at the Healthcare Development Committee (HDCC) office. This contract formalizes your agreement with the authorities regarding the establishment and operation of your healthcare business.
- Obtain a license for a private clinic in Dubai. This license is necessary to legally operate a healthcare facility in the region and ensures compliance with local regulations.
- Pay the required fee after your application and business plan have been approved. This fee covers the administrative costs associated with processing your license application and ensures compliance with regulatory requirements.
- Hiring qualified staff and ensuring compliance with all legal and regulatory requirements are essential for running a successful healthcare business in Dubai. This may include hiring licensed healthcare professionals, setting up proper record-keeping and bookkeeping systems, and obtaining the necessary insurance coverage.
Documents Needed to Launch a Healthcare Business in Dubai
To launch a healthcare business in mainland Dubai, you typically need to provide several documents to the relevant authorities. While specific requirements may vary based on the nature of your business and regulatory changes, here is a general list of documents commonly required:
(1). Business Plan
A comprehensive business plan outlining your healthcare business’s objectives, services offered, target market, financial projections, and operational strategies.
(2) Articles of Association and Memorandum
These documents detail the company’s structure, ownership, share capital, and internal regulations.
(3). Trade Name Reservation Certificate
Proof that your chosen business name is registered and reserved with the Department of Economic Development (DED) in Dubai.
(4). Lease Agreement or Title Deed
Documentation proving ownership or lease of the premises where your healthcare business will operate.
(5). Shareholder Resolution
A formal resolution signed by all shareholders, authorizing the establishment of the healthcare business and outlining key decisions.
(6). Passports and Visas
Copies of passports and visas for all shareholders and relevant personnel involved in the business.
(7). Healthcare Facility Design Drawings
Architectural drawings and plans of the healthcare facility, demonstrating compliance with regulations and standards.
(8). Certificate of Good Standing
If applicable, a certificate confirming the good standing of the shareholders or directors issued by relevant authorities.
(9). Financial Statements
Audited financial statements demonstrating the financial viability and stability of the healthcare business.
(10). NOCs (No Objection Certificates)
NOCs from relevant authorities, such as the Dubai Health Authority (DHA) or the Ministry of Health and Prevention (MOHAP), depending on the type of healthcare services offered.
(11). Healthcare Professional Licenses
Copies of licenses and qualifications for healthcare professionals employed in the facility, including doctors, nurses, and specialists.
(12). Business License Application Form
Completed application form for the issuance of a business license from the DED or other relevant licensing authorities.
(13). Other Permits and Approvals
Any additional permits or approvals required for specific services or activities offered by your healthcare business, such as medical equipment licenses or pharmaceutical permits.
These are the basic steps and information you need to set up a thriving healthcare and wellness business in Dubai. With these, you have what it takes to plan the business and join other thriving healthcare business in Dubai.
