With a zero-tax regime and an investment-friendly government, UAE is becoming the most sought-after business destination for foreign investors. Every year, the influx of entrepreneurship is touching new bars and all the development in the business sector, improving the country’s GDP growth. If you are also planning to start a company, this is the right time; however, you need a general trading license, and Vertex Global can assist you in this process. This article will also help you understand how you can get the license for your company by following the simple steps.
How to Get a General Trade License in Dubai, UAE?
Generally, there are three main location options available to all the trading companies in Dubai: offshore, mainland, and free zone. Your first task to open a company and get the license is to decide the suitable location for your business. Each location has different laws and regulatory authorities.
Depending on your company type, you have to decide your company’s structure or legal form. With that, also research and find the trade name as well. The name you choose should reflect your business and must be different.
You need to decide all the business activities you would like to be allowed on your license. As per the law, one license allows ten different business activities with terms and conditions.
Once you have decided the activities now, you have to ask the government. Initial approval is required to get approved by other authorities. \
Depending on the activities you have chosen for your company, you also need to get approvals from government and non-government authorities, including the Ministry of Interior, Dubai Municipality, and more.
MoA and LSA are required for the final license application. Therefore, you need to get both signed and tested.
Each company must have a physical office and tangible address. for that, you can sign a tenancy contract and apply for the Ejari for verification.
An Application to DED
once you get all the required documentation, you have to submit an approval application to the Department of Economic Development (DED) for your general trading license.
Once DED approves your application, you have to pay for the required license fee along with the insurance fee. After sharing all the required documents with the DED, the whole license procedure takes not more than a week. The general trading cost in Dubai varies from the business location. The validity of a general trade license is one year.