The decision of getting into the general trading business in Dubai comes with many benefits. With the business-friendly legislature, and the opportunist business strategies that the government of the UAE offers, you start a business in the UAE without any hurdles.
If you are also thinking of starting a general trading business in Dubai and are worried about the general trading license cost in Dubai and the procedure of it. Then relax, we at Vigor business can help you with everything from documentation to registering the business in the UAE ministry.
Depending on your business activities, the Dubai general trading license cost can vary. With three jurisdictions: Dubai mainland, Dubai free zone, and offshore, you can start your business in any location in the UAE. Here in this blog, we have included all the information you should know related to general trading licenses including license fees, and other regulations.
What is Dubai general trading license?
A Dubai general trading license in UAE is a business license in the United Arab Emirates (UAE). It allows businesses to operate as general trading companies in Dubai, which means they are allowed to carry out trading activities in multiple products or services within the UAE.
As compared to a specific license here you need a special license for each type of goods, a general trading license allows you to conduct import and export and local trading of multiple numbers of unrelated products with a single license.
What are the benefits of getting a general trading license?
There is a number of advantages to acquiring a general trade license in the UAE. All business owners and entrepreneurs prefer this location to start their general trade business because:
The process of registration and acquisition of the license is transparent and easy. You do not have to wait for weeks to get your general trade license. By following the right procedure and complying with government regulations, you can get your license within one week. So start a general trading company in UAE free zone as the cost of a general trading license in spc free zone is less as compared to Dubai mainland.
Another reason why every business person is applying for a general trading license in freezones and the mainland is because of the tax benefits, the businesses get. The entrepreneurs do not have to pay any capital income tax and can enjoy 100% profit if they open their business in Dubai free zone. However, the mainland general trading license covers
International and local trade opportunities
Business owners who have general trade licenses can import, export, and manufacture all kinds of goods which can be related or unrelated to each other. It is up to your choice whether you want to do business in the local market of the UAE or export the goods to a more profitable country.
Excluding a few sensitive products, the general trade license covers a wide range of business activities where you can trade any number of unrelated manufactured products. The trading license for your business
What documents are required to get a general trading license?
To obtain a general trading license, an individual or business must provide the necessary documents to the Dubai department of economic development also known as DED. Depending on where you are applying for the license and license types, these documents may vary.
If you are forming a general trade company with individual shareholders whether, in the mainland or free zone, you just need the following documents for setting up a general trading company:
The UAE government will require an application form and supporting evidence such as proof of identity. It can be your passport copy and Emirates ID if you have one.
But if you opening a general trading company with corporate shareholders, then you require:
- Incorporation certification
- Memorandum of association (MOA) as proof of their approval
- Certification of incumbency
The steps to get a general trading license in Dubai?
Getting a General Trading License in Dubai is not a difficult process, but it does require some steps to be followed.
Decide on the company’s name and structure to get a company license in any emirates of UAE. The trade name of your business has to be unique and in compliance with the jurisdiction’s requirements.
Submit all the required documents to the Department of Economic Development (DED) or any other free zone authority.
These include copies of passports, tenancy contracts, and others mentioned below.
After that, you will also need to provide details of the products and services that you are planning to trade in. Include all the business activities under general trading license, free zones, and mainland offers.
Once all of these have been submitted and approved by DED or Free Zone Authority, you will receive your general trading license number for your business.
After following these steps to getting a trading license from Dubai, get your trade license from DED and get started with your business.
Remember that, the license allows you to trade for one year and license renewal is compulsory after one year. It is important to ensure that all of the paperwork is up-to-date in order to acquire the license for your business operations to run smoothly.
How much is Dubai general trading license cost in UAE?
The cost of a general trading license in Dubai depends on various factors, such as the type of business, the size of the company, and the number of partners. Generally, prices range from AED 10,000 – AED 20,000.
This includes registration fees for a local sponsor (a UAE national) and other related requirements. You may need to pay additional costs such as government fees or visa charges if any.
Note that there are additional costs associated with setting up a business in Dubai such as renting office space and purchasing office equipment.
All these expenses must be taken into account when calculating the total cost of obtaining a general trading license in Dubai.
How long will it take for the general trading license to get approved in Dubai?
The time required to get a general trading license approved can vary depending on your application. Factors like the type of business being licensed and the jurisdiction in which the business is located also affect the time limit.
However, in most cases, it can take five days to one week for an application to be processed. Generally speaking, applications for a general trading license should be submitted as soon as possible to ensure that the process of approval moves forward efficiently.
Why choose Vigor corporate services for your general trading license in Dubai?
At corporate services, we support our business enthusiasts with all aspects of company formation in Dubai. When you apply for your general trading license in Dubai, working with vigor business setup consultants can bring you a plethora of benefits. From taking care of your documentation to handling all other setting up matters, we get all the necessary approval within the day so you can open your general trading business without worrying about the Dubai general trading license cost.