Dubai has been emerging as a brand name as the most influential business center of the Gulf Region. It can be said to be like that for its unprecedented location that embraces the emirates to conduct many trade related roles in facilitating goods and services between the western and eastern regions or a free market economy with the advantage of no taxes by either companies, individuals or FDI’s. It can be said that Dubai stands as a major center of attraction for many entrepreneurs and businessmen from across the globe. In Past couple of years Applications to get trade license in Dubai witnessed a significant growth due to its free trade economy.
No doubt Dubai provides a sense of relaxation in terms of taxes as compared to other locations of the world but when it comes to other rules and regulations, Dubai is no exception in terms of the strictness and the degree of government influence over the businesses.
Just like every country of the world, UAE also encases a set of rules and regulations for a business set up, and here, Dubai as well works on similar lines.
Click here to read our complete guide: How to start a business in Dubai
Therefore, acting as per the right rules and guidelines for the registration of a business along with the pre-requisites depicts the most favorable interest of the entrepreneurs and investors to comply with the UAE regulatory laws.
How to Get Trade License In Dubai:
In addition to this, what interests the favor of these aspiring entrepreneurs is that the write up shall throw light to have an adequate transparency for obtaining a trade license in Dubai. So, while starting your business operations in Dubai, you must keep in mind that the below accountability shall meet all the legal requirements of all the related government authorities and must also ensure the maximum benefits commercially that can be fetched to the business authorities.
Legal Requisites to get a trade license in Dubai:
- Identification and selection of the categories as per your business concern (industrial, professional and commercial) and also the kind of business activities that are to be involved in the course of the business operations.
- Identification of all the existing and the new business activities that must match and accommodate every business license for your enterprise, with a maximum of 10 business activities or the license.
- Identification of the legal form of the business which is most appropriate and which must suit the activities of the business and also the strength and country of origin of the owners of the business.
- Identification of all the factors and the necessities, which are pertaining to the acquiring of the required trade license in Dubai for your business.
- Determination of the name of the business enterprise for obtaining the trade license in Dubai.
- Application submission of for the trade license in Dubai to the department of economic development for a preliminary approval, which is then valid for 6 months. It can be done either via the Internet, by the help of a document creating consultancy or some legal consultant or even personally if you are through with the process of getting trade license in Dubai.
- Getting a trade name registered after the preliminary approval of your trade license in Dubai. It can be done either via the Internet, by the help of a document creating consultancy or some legal consultant or even personally if you are through with the process of getting trade license in Dubai.
- Leasing of a business office as the counter encompassing the planning department of Dubai Municipality is contacted to have a verification of the business premise of the enterprise as per the business activities for the trade license in Dubai.
- Preparation of the requisite documents such as the validation proof of various other government authorities, memoranum of association of the business concern which is to be required in each of the phases of obtaining a trade license in Dubai.
- Submission of the application to the department in order to obtain the final trade license in Dubai.
- Finally, at the end, the fee for the trade license in Dubai is to be paid and the license is obtained.
All your licensing for the company registration in Dubai must go through a well-defined process depending on the nature of your business as it affects the licensing in many ways. The types of company registration in Dubai are as follows:
Industrial License in Dubai
This license is suitable mainly for the companies who plan to engage in some sort of manufacturing business or industrial activity of any kind in Dubai.
Commercial License in Dubai
This license is suitable for all those business enterprises who plan to engage in some sort of trading activity as per their business concern requires them to do so.
Professional License in Dubai
This license is suitable for all the professionals who seek to provide some sort of their services in which they have expertise.
It must be duly noted that according to Federal Law No. 8 of 1984 the founders of private firm should not be less than 3 persons. For getting a trade license in Dubai, either as a partner or as a service agent (for professional licensing), an assistance of a UAE national is a mandatory aspect. The latter should be assisting you in acquiring and renewing the licenses for business enterprise, which are issued by government authorities like the Ministry of Labor and Social Affair.