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Posted 11/28/2019

IMPORTANT STEPS INVOLVED IN OBTAINING TRADE LICENSE IN DUBAI

IMPORTANT STEPS INVOLVED IN OBTAINING TRADE LICENSE IN DUBAI

It is not a hectic task to start a firm in the UAE, being the business hub of the Middle East. But in order to initiate the process, one must have a valid trading license. A general trading license can be applied by a company if it wants to import, export or trade goods that can include accessories, electronics, clothes, etc. Even though it is a costlier process, still has its own advantage. After setting up a company in Dubai, the second important step to do is get a trading license.

There are mainly three types of Trade Licenses in Dubai

Commercial License

Commercial licenses will be undertaken by companies doing trading activities. If you want to do trading outside UAE then you can form a company in the UAE free zone and get your commercial license.

Industrial License

Those companies having a physical office in Dubai will only be eligible to get an industrial license and these licenses are given to industrial or manufacturing companies only.

Professional License

Professional Licenses can be attained by having a local service agent but you will have 100% ownership of your business and its profits.

Some of the advantages of having a Trade License in Dubai are:-

The one having a trade license in the UAE has zero taxes to pay neither on profits, income or any other amount.
With a trading license, one can do business in a national, local and international way.
Those having a trading license don’t have to submit auditing reports to the government authorities. Thus avoiding the yearly auditing process.

What are the documents needed to obtain the Trading License?

With the signature of the company’s legal representative, a standard application form must be filled.
Both the original and copy of the company’s statutory documents.
Tenancy agreement
DED letter approving company name and DED attestation letter approving the setup of the company
Complete details and passport copies of shareholders.

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