03 Nov How to Get a General Trading License in Dubai?
Nowadays, almost every entrepreneur knows that Dubai is a wonderful place to expand any business. Dubai is one of the best countries to start a new business because it has a supportive government, a no-tax system, and a great demand for goods. However, if you are aware of all the opportunities and want to start a business in Dubai, you must get a general trading license from the Department of Economic Development (DED).
To learn more about a general trading license and how you can get it, please keep on reading.
What is the Importance of a General Trading License in Dubai?
When entrepreneurs try to start a business in Dubai, the most important thing they should have is a license. A general trade license enables you to have various trading activities in the same or different industries. Moreover, with this license, you can import, export, and trade products of various categories, including accessories, electronics, machinery, furniture, and clothes.
As compared to the particular license category, a general trade license allows you to sell more products. Furthermore, if you are interested in the wholesale business, this trading license is a must-have for you.
How to Obtain a General Trading License in Dubai?
You can follow the below-mentioned steps if you want to start a general trading company in Dubai and get the required license.
- Choose the location from where you want to get a trade license. For this, you have 3 options: Free Zones, Mainland, and Offshore. Moreover, the general trading license cost in Dubai varies with location.
- Select a trading name for your company that is unique and according to the rules of DED Dubai. Also, choose a legal structure for the company.
- Fill out the application and submit it to the higher authorities for initial approval.
- Get the required external approvals based on your business activity.
- After getting the initial approval, you need to gather all the necessary documents, for example, the Memorandum of Association (MOA).
- Obtain a tenancy contract attested by Ejari after you have decided on the business location.
- Apply to the Department of Economic Development (DED) to get the final trading license.
- Give the required fee payments and original documents to obtain the license.
The whole process of acquiring the general trade license in Dubai takes a week after you have submitted the required documents to the DED. You can use this license for a year.
What are the Required Documents to get a General Trading License in Dubai?
The documents that are required to get a general trading license in Dubai are:
- A shareholder agreement and a Memorandum of Association.
- License application signed by the company’s managers or their official representatives.
- Copy of the partners’ passports.
- An approval letter of an attested trade name from the DED.
Conclusion
In conclusion, through the above-mentioned steps, you can get a general trading license and start a business in Dubai. If you want any help regarding obtaining a general trading license in Dubai, you can send us an email at info@businessetup.com, or call us at +971 4 4301245
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