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Overview of the competition forecast & opportunity of the UAE tire market

Dubai has always been a sought after trading site due to its strategic placement at the intersection of the biggest and fastest-growing markets in the world. However there are numerous other lucrative trades that go beyond the eye-catching commerce in pearls, gold and diamonds. Due to the growing demand of tires in Dubai, there is fierce competition among the tyre manufacturers from around the world who are competing for a significant portion of the market for tires in the brand new and developing Dubai markets.

Dubai is anticipated to hold a significant market share throughout the projection period 2022-2026, based on regional analysis. The expansion of the main authorities’ plans to make Dubai into a smart city is building activity, which in turn is boosting the region’s tyre industry. The UAE’s Off the Road Tyre Market has a value of USD 88.84 million in 2020 and is projected to increase at a CAGR of 6.79% by 2026.  Tyre trading is one such industry that is unlikely to be the first one that comes to mind when you think about emirates.  And it’s a huge industry.

How to start the License application

There is some administrative work to do before submitting an application for a trade license in Dubai, albeit it is not a time consuming process. It is therefore best to collaborate at this point with a local business consultant like Alya Almarzooqi Auditing. Before beginning your application, we should make sure all of your paperwork are accurate and in good order.

First we will check with the DED or other similar authority the proposed name given by you and make it reserved for your company.

Secondly, making the MOA where shareholders will sign the document along with the Ejari Certificate of the work space.

Thirdly, with all the above documents we will apply for the license and within 1 working day will get the license and can start the activities.

Time taken for the license procedure

The mainland license will take only 2 to 3 working days to complete the procedure.

The Free Zone License will take minimum 3 to 6 working days

Again, time depends on the availability of all the legal documents with you.

Cost of the License

Mainland Company License cost will be approximately AED 17,000 to 22,000

Free Zone Company License cost will be approximately AED 13,000 to 20,000

The Cost is totally depends on various other factors. It is always advisable to check the current rates before applying for the license.

If you intend to work and live in the UAE. Along with your own visa you can sponsor a visa for dependents, employees, driver’s etc. ability to apply for a visa is influenced by the size of your businesses, financial situation, type of setup of your company etc. Contact Alya Almarzooqi Auditing for a detailed breakdown of all expenses related to launching a tire trading business in Dubai.

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