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The business system of Dubai is highly complicated and mixed with several rules that are obligatory to follow by foreign investors. The trade license Dubai is one of those essentials that demand legal procedures and paperwork. The biggest challenge for entrepreneurs in Dubai is linked with finding the best solution to get a general trading license. Some basic steps are compulsory to follow and ignorance of any legal phase can create serious consequences for the freshers in Dubai.
What is Trade License Dubai?
The legal permit to do your trading and complete your business startup registration is known as trade license Dubai. This general business trading license in Dubai can help you in many ways and not only that it will make your company legal to do your business actions freely.
The trade license is divided into four major categories;
- General trading license.
- Commercial license.
- Industrial license.
- Professional license.
- General Trade License Dubai
This general permit is for those business investors who want to deal with all commodities that include clothing, furniture, shoes, toys under one license. The general trading license has some flexible features, you can import or export any product which does not require any special permit. The trading of multiple products with a single permit is the best benefit of a general trading license in Dubai.
You can trade from small-scale goods to heavy equipment with this general UAE trade license.
How to get a General Trade License Dubai?
The business license in Dubai can be obtained from two regions;
- Dubai Mainland (Local license)
- Dubai Free Zone License
- Local License in Dubai Mainland
The mainland of Dubai, UAE has three major economic sectors which approve your trading applications.
- DED (Dubai Department of Economic Development)
- Dubai Chamber
- Emirates Identity Authority
These economic bureaus will handle your credentials and then decide to send you the legal permit for trading in Dubai or simply reject it.
- Dubai Free Zone License
DMCC (Dubai Multi Commodity Centre) is the best place to get your UAE trade license. In this zone, the restrictions are slightly less compared to the mainland and you can 100% ownership of your business with a general trade license Dubai. The approval of the license will be managed by private free zone owners and minimum interference from governmental departments.
Steps for Obtaining General Trade License Dubai
There are some fundamental stages to avail your trade license in Dubai. Violation of any step will discard your application.
- Create a Business Plan
A great plan for your startup can help you to get a general business license in Dubai instantly. The plan must consist of full detail related to your office location, employees, business strategy, complete detail of products you will trade, and investors who will support your startup. The first step is about creating a business plan which contains all the required tactics and information to represent your company.
- Pay License Fee
The one question which majority of foreign owners ask about what is the trade license Dubai fees and who will collect them? The general business license in Dubai fee is around AED 10,000 to AED 30,000. If you hire any business consultancy agency then you can get a discount on the trade license fee with extra perks. It is advisable to find legal business consultants who will complete this step without any extra cost.
- Find a Sponsor and office
The last crucial step for any new business owner in Dubai. If you are in free zone land then forget about finding any sponsor but in the mainland, you need to agree with the local sponsor who will approve your general trade license Dubai. After getting a trusted sponsor you should get a place for an office and business consultants have links within Dubai who can get your office for rent or a fully furnished “sustainability desk” for business operations. When you complete these steps then collect all paperwork and get them attested from DED.
Documents requirement for General Dubai Trade License
Some important documents are mandatory to collect and then submit with your Dubai Economic Department trade license.
Here is the list of those documents:
- The application for a license must be signed by the investor or manager.
- Shareholder’s agreement must be attached to the application.
- A Memorandum of Association and Business plan is required.
- Your new company trade name and approval letter signed by DED.
- Passport copies of the company owner and business partners.
- Copy of fee you will pay with the application submission.
- Attested copy of local sponsors’ approval if your trading company located in Dubai Mainland.
These documents must be legally signed and submitted without any errors.
How KWSME can help you to get Business License in Dubai
KWSME is one of the best business consultancy company in UAE that can get you a general trade license Dubai within weeks.
Visit their site kwsme.com to find more details about trade licenses in UAE.