HOW TO GET YOUR GENERAL TRADING LICENSE IN DUBAI?
On the list of things an aspiring entrepreneur has to achieve before starting a business in Dubai, licensing is paramount. Most importantly, you have to understand the different types of licenses available and what kind of businesses they fit the most. Getting a general trading license in Dubai appears to be a complex task for most people, but it is not. All you have to do to beat this perceived complexity is to engage the services of a company formation specialist who will handle the whole application process. Some categories of services require licenses that are specific to them, but a business that trades a wide variety of goods requires a general trading license. The process of getting a general trading license is quite straightforward. The major advantage of getting a general trading license is that you are allowed enlist any number of unrelated goods or services you could ever think of under one single license.
As described by Business Incorporation Zone, the first step to take in applying for a license is to pick out the expected business activities. This requires that you list out every type of service you intend to offer under your license as this is the only way for the license to be valid on such a service. The next step is to pick a company name. The UAE is strict about naming conventions and, as such, some rules must be adhered to in the process. Your company name must never include any offensive or blasphemous language or refer to known organizations and corporations. Your chosen business name must be available to be registered. You can always get a company formation expert to do that for you. When this is done, you can now apply for a license. You can choose between applying directly to the Department of Economic Development (DED) if you want to set up your business on the mainland, or to the managing authority of your chosen free zone. You will be asked to provide a few documents which include a completed application form, passport copy of the proposed owner or owners and two pieces of color passport size photos with white background.
If you still need any more convincing on why you should get a general trading license in Dubai, then we might as well go over the benefits again. A general trading license in UAE allows you to benefit from one of the world’s most friendly tax rates with a 0% rate on both personal and corporate income. Also, it makes you eligible to trade in almost any product, save for a few delicate industries such as oil or tobacco.
