With a large portion of the foodstuff being imported, the UAE relies heavily on fishing which is why the authorities have invested in this sector of the agriculture industry. To be more specific, aquaculture is one of the most developed segments of the farming industry which has also undergone modernization during the last several years. Fishing and breeding of fish species are regulated by Laws No. 23 and 24 on the Exploitation, Protection and Development of Living Aquatic Resources in the Waters.
Foreign investors interested in starting a business in aquaculture in Dubai can fish a wide variety of seafood in the Persian Gulf. Our company formation consultants in Dubai can offer information on the laws to be respected when setting up an aquaculture company in the UAE.
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Starting an aquaculture business in Dubai
In order to carry out fishing or other activities related to the aquaculture industry in Dubai, one must choose a business form and register it with the Department of Economic Development. The most common types structures used to set up an aquaculture company are the sole trader, the limited liability company and the cooperative society which is often employed by fishermen. Scientists are also welcomed to invest in the research and development branch of the Dubai aquaculture sector.
No matter the type of structure one decides to register, our Dubai company formation agents can assist.
The Dubai aquaculture license
After the company incorporation process is completed, the Dubai aquaculture farm must apply for a special license which will enable it to start operating. The aquaculture license is obtained with the Ministry of Climate Change and Environment. The following documents must be filed when applying for an aquaculture permit:
- a copy after the environmental permit;
- a copy after the economic and technical feasibility project;
- a copy after the approval of the Dubai municipality;
- a copy after the decision of the Cooperative Union of Fishermen’s Associations.
The Dubai aquaculture license must be renewed on a yearly basis.
Foreign investors interested in opening a company in the aquaculture sector are invited to contact our company registration advisors in Dubai. We can also assist with the company formation procedure of the Dubai company.