When you have a business dealing with various goods that are not interrelated, like textiles and vegetables, a general trading license in UAE may be a suitable license that you can avail to incorporate your business.
Table of Contents
What is General Trading Licensing in UAE?
The first thing is to understand the difference between a general trading license and a trading license:
General Trading License |
Trading License |
|
Allows you to trade in multiple products across various industries. |
Allows you to do trade only with single product under any single industry |
Benefits of opting for a General Trading License in UAE
Here are some reasons why you should avail of a general trading license in UAE due to the following benefits listed below:
-
Extensive Market Approach
This license allows you to export and re-export the range of goods, and also, with the license, you can manufacture goods listed under this license.
A general trading license allows you to distribute the goods in the local and global markets.
-
Tax Exemptions and Low Tax Rates
Looking at the bigger picture, the UAE’s tax rates are the lowest when compared to other countries. It gives you huge tax exemptions, and with a general trading license in UAE, you can manufacture goods at a very low cost.
-
Range of Products
A general trading license in UAE allows you to manufacture and trade a wide range of products that are listed under the license. There are few goods that need special permission, like pharmaceutical goods or any sensitive material.
-
Easy Process
The process of getting a general trading license in UAE is Easier than any other license. You just have to submit all the required documents to DED (Department of Economic Development) and avail of the license in just one week.
-
Dependents Sponsorship
The general trading license makes it easier for employees or anyone who is dependent to avail of a dependent visa. Sponsoring your dependents will make your visa process much easier.
-
Business-Friendly Environment
UAE’s business environment is so liberal that you can confidently start your own business in the UAE’s booming economy to kick-start progress in the global market. The UAE government offers so many tax benefits and other benefits that can attract investors and entrepreneurs.
-
Modern Infrastructure
UAE offers high-tech modern infrastructures such as warehouses, logistics, seaports and airports. This modern infrastructure allows new businesses to emerge and grow.
-
Business Network
You can improve your business network with the help of support services in the UAE, such as logistics, finance, marketing or legal services.
General Trading License Cost in UAE
The general trading license cost in UAE varies depending on the activity you choose to get involved in and the size and location of your business.
End Note
To understand the benefits better and to get the information about the cost, contact Commitbiz. We can be your one-stop solution for all your business setup processes. Contact the experts to avoid future regrets.
What is a General Trading License in the UAE?
A General Trading License allows you to import, export, re-export, and trade a wide range of goods and products (with some exceptions like pharmaceuticals and weapons). This versatile license gives you significant flexibility compared to specific trade licenses focused on a single product category.
Why choose a General Trading License over other options?
Several benefits make a General Trading License attractive:
- Business versatility: Trade in diverse products, adapt to emerging market trends, and explore new opportunities without requiring additional licenses.
- Cost-effectiveness: One license simplifies setup and reduces ongoing administrative costs compared to managing multiple specific permits.
- Tax-free environment: Enjoy significant tax advantages, both corporate and personal, on your business profits in the UAE.
- Strategic location: Access a thriving regional market with solid infrastructure and connections to Asia, Africa, and Europe.
Are there any restrictions on what I can trade with a General Trading License?
Yes, while versatile, it only covers some things. Certain products like pharmaceuticals, hazardous materials, and weapons require specific licenses and permits. Always check with the relevant authorities for detailed regulations.
How easy is it to obtain a General Trading License?
The process is relatively straightforward compared to other countries. The Department of Economic Development (DED) offers streamlined procedures with clear guidelines and assistance available. Partnering with a knowledgeable business setup company can further simplify the process.
What are the long-term benefits of a General Trading License in UAE?
This license provides a strong foundation for long-term business growth in the UAE. Its flexibility allows you to adapt and evolve alongside the dynamic market, build a diversified portfolio, and establish a well-connected regional presence.