Dubai’s flourishing economy and tactical location are the reason why it has become a hub for business people searching for new opportunities.
If you are getting pulled towards the world of general trading, obtaining a license is the first step. Now, the questions arise - what are the requirements? Where do you begin?
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The General Trading license is a business license that permits companies to trade a diverse variety of goods without any restrictions. Obtaining this license allows businesses to be involved in import-export operations.
This blog highlights the fundamentals of getting a Dubai general trading license. Through the following sections, entrepreneurs will thoroughly understand the details of how to get general trading license in Dubai -
Requirements for General Trading License in Dubai
Below are the conditions that must be fulfilled and documents to obtain Dubai’s general trading license.
- The presence of a physical office in Dubai
- Must have minimum capital depending on the type of license.
The documents required to get a Dubai general trading license are -
- Address proof
- Copy of Emirates ID
- Certificate of Incorporation
- Memorandum of Association
- Copy of certificate of trade name reservation
- Passport copies for shareholders and directors
How to Get a General Trading License in Dubai?
Follow the steps mentioned below to obtain the Dubai general trading license.
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Pick a Name for your Trading Company
Select a name for your company that matches its business activity. Once approved, the DED will issue a Trade Name Reservation Certificate.
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Select a License Type
Entrepreneurs must choose a type of trading license based on their business activity and jurisdiction.
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Preparation and Submission of Documents
Organise the documents and submit them to the appropriate authorities. If you have an agent, submit the documents to them, and they will submit it to the authorities. Experts at Commitbiz can help you with this step.
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Lease/ Rent an Office Space
Rent an office space in a strategic location based on the jurisdiction you choose to incorporate your business. Having a physical office space is important when it comes to business registration. The office space will play the role of the official address.
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Securing the Approval
Post submission of the application and documents, the relevant authorities will examine the application. Once the form is checked, the applicant will receive an approval.
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Pay the Fees and Obtain the License
Next, we need to pay the required fees to complete the process. The Dubai general trading license will be issued once the above steps are completed and conditions are met.
Remember that the license issued in Dubai is valid only within the UAE.
End Note
Acquiring a Dubai general trading license opens a universe of potential for business aspirations. Although understanding and fulfilling requirements can seem like a task, remember planning is crucial.
You can Take the help of business professionals from Commitbiz to guide you through the process and ensure a smooth transition into the business world of Dubai. Contact us now.
Can foreign nationals or non-residents apply for a Dubai General Trading License?
Foreign nationals and non-residents can apply for a Dubai General Trading License. However, depending on the jurisdiction and business setup, they might need to engage a local sponsor or partner. The sponsor will be a UAE national or a company wholly owned by UAE nationals.
How long does it typically take to obtain a Dubai General Trading License?
The timeline for obtaining a Dubai General Trading License can vary based on factors such as business type, documentation completeness, and regulatory processes. Generally, it can take anywhere from a few weeks to a couple of months. Engaging with experienced business setup consultants can streamline the process and expedite approval.
What are the benefits of having a Dubai General Trading License?
Holding a Dubai General Trading License offers numerous advantages, including:
- Diverse business opportunities: The license allows businesses to engage in a broad spectrum of trading activities, enabling diversification and expansion.
- Tax benefits: Dubai offers a favorable tax environment with no corporate or personal income taxes, making it attractive for businesses seeking tax efficiency.
- Reputation and credibility: Operating with a Dubai General Trading License enhances the company's credibility and facilitates smoother transactions with international partners and clients.
- Access to world-class infrastructure: Dubai provides state-of-the-art logistics facilities, transportation networks, and supportive government initiatives to facilitate trade and commerce.
