If you are interested in starting a business, then Dubai might just be the perfect destination to set up. This is because in the past two decades, Dubai has asserted itself as one of the world’s leading trade and business destinations.
Today, it is the leading business and tourist region in the Arabian Gulf. This feat was achieved through the local government’s unprecedented efforts to introduce investor friendly laws, a stable political atmosphere and infrastructure that is years ahead of any competitors. Add the factor of the consistent work being done towards the development of technology and it is clear to see that starting your company here could lead to many potential opportunities.
That said, here is everything you need to know about what a trade license in Dubai is and how to get it.
Business Trade License in Dubai – What is it?
The Business Trade License in Dubai is a necessary document that you must obtain, and which will give you permission to legally work in the United Arab Emirates. It is considered a prerequisite that you must fulfill, and the Department of Economic Development (DED) monitors the entire procedure to ensure that it is implemented. Once you have received your trade license, you will be able to carry out the following activities:
Activities you can do After Getting Trade License
- Import and export products to/from different countries
- Take part in various commercial related activities and projects
- Promote your services and products to a wider audience
- Be eligible to run different businesses (according to the license you have)
Types of Trade Licenses
The type of license that you apply for will depend upon your industry and business activities. Dubai has 6 different kinds of trade licenses that you can apply for, each of them allow you to carry out different activities and provide different services.
Here are the most common types of trade license in Dubai:
1. Commercial License
This kind of license is issued to companies that take part in any type of commercial trade activity. It is the recommended and valid license for any individual or organization that plans to set up a general or specific trading business. Some of the businesses that will need a commercial license include; real estate, import/export, etc.
If you are a foreigner that plans on obtaining a commercial license in Dubai mainland, you must get a local sponsor who you will give 51% of your company’s shares to. This will leave you with a 49% share.
On the other hand, free zones in Dubai allow you to obtain a commercial license while holding 100% shares of your company.
Read More: https://www.companysetup.ae/how-to-get-business-trade-license-in-dubai/
