Entrepreneurs rush to Dubai because it has a tax-free environment. All enterprises must get the right trade license to start a business unit in Dubai. Trade licenses depend upon the work you do in Dubai. There are different trade licenses available for different businesses.
Different Types of Trade Licenses in the UAE
Dubai’s work industry requires four main licenses. Companies in Dubai can apply for any of the following licenses:
1. Professional License – Required for professionals dealing with specific jobs.
2. Commercial or Trade License – Required for all types of trading work.
3. Industrial License – Required for manufacturing or industrial work.
4. General Trade License – Required for exports, trades and imports.
General trade license is needed by businesses in trading, exporting and importing products. Goods like electronics, furniture and food should get this license. This license permits companies to trade locally inside the UAE. Moreover, it also allows you to trade with markets across the globe.
General trading licenses allow businesses to trade in mixed goods. This means that a business can export, trade and import any number of goods like toys, building materials or cosmetics.
The Department of Economic Development (DED) is a government body that offers these licenses. It serves to individuals and corporate entities who start businesses in Dubai Mainland. Every business requires a special consent from the respective ministries. Alongside, it must gain approval from other authoritative establishments. DED supports the growth of new business, renewals and greater profits.
Benefits of General Trade License in Dubai:
• Single license permits trade of more than one product
• Permits 100% repatriation of profits and capital
• Operate the company from anywhere in Dubai
• Utilize any office location in Dubai
• Helps to get easy employee visa
• Problem-free legal process
• Use any currencies
• Simple to setup
• 100% tax-free
Trade Licences For Specific Industries:
• Financial institutions such as banks must get the right licenses from the central bank of UAE.
• Insurance organizations gain licenses from the Ministry of Economy and Commerce.
• Manufacturing business enterprises need licenses from the Ministry of Finance and Industry.
• Pharmaceutical and medical product businesses must get licenses from the Ministry of Health.
• Commercial businesses in the UAE should get licenses from the Chamber of Commerce and Industry.
Steps to get Trade licenses in the UAE:
Acquiring a trade license in the Dubai can be simple. Do check to complete the following legal requirements for the respective government authorities.
· Create a name for the company
· Name the category for the profession, business, commercial and industry
· Regulate all the connected business work for each business license (Almost 10 actions exist for each license)
· Prepare the business legal status in the UAE
· Request the DED Department for original approval
· Lease business premises and get the correct consent from the authority
· Collect all the required documents such as the memorandum of association
· Get useful approvals from other suitable government authorities
All enterprises in Dubai, need to renew their Trade Licenses each year. Licenses are legal approvals that enables businesses to function according to the business procedures in the UAE. The license must also agree with the rules of the government.
Are you worried about your trade license renewals? Jumera Consultants can easily complete your trade license renewals. Our speedy services and eye for detail acquire larger renewal success rates. This step can accelerate your businesses towards faster growth and greater revenues.
Steps for Trade License Renewal:
• The tenancy contract should be valid during the renewal of Trade license.
• When you need to renew your tenancy contract, do get the approval from Ejari, the Real Estate Regulatory Authority.
A valid Trade License in Dubai, helps entrepreneurs complete their business needs. Jumeira Consultants helps you to quickly assimilate your new company in Dubai. We offer high-end services using our in-depth local knowledge. Our innovative and diligent procedures will get you any type of trade license that is mentioned above.
If you have any doubts regarding Dubai’s trade licenses, do contact us immediately. Our procedures are clear, concise and simple to understand. Jumeira Consultants gets all of these licenses successfully without any hassles. Alongside, we assist you in faster trade license renewals too. Acquiring the right licenses can help you stay focused on your business goals.