Why and How to Get Certificate of Origin from Dubai Chamber Of Commerce & Industry?
Business practices revolving around commercialized international trading has been amongst the most profitable business practices around the world. Depending on each country’s varying main resources and goods for exportation purposes, becoming a global force in the trading business industry allows flexibility in controlling your business capabilities upon year-by-year economic stability.
Dubai is amongst the countries famous for their exporting potential as well as importing numerous essential resources into its shores. Having an abundance of natural petroleum reserves as well as craftsmanship of unique jewelry, gold, and important metals, the local trading industry here is not looking to slow down any time soon.
In having a hand in the commercial trading industry in Dubai, certain few criteria and a number of registrations and approvals will need to be obtained prior to any business dealings. These will enable you to open borders in the various areas of trading sectors in Dubai, especially if you are deciding on establishing Free Zone Company or a Mainland company formation. Nevertheless, any trading business set up in Dubai, be it a Dubai mainland company or a business set up in the Free Zone will be required to obtain a Certificate of Origin from Dubai’s Chamber of Commerce.
What is a Certificate of Origin?
A Certificate of Origin for businesses is an official document that validates an exported or imported goods country of origin. This helps local authorities to determine tariff rates, conditions of the products, the current country’s economic evaluation and relationship as well as other contributing factors related to the trading of the goods. These official documents will be presented out into two different forms in Dubai depending on your current trading practice:
1. Non-preferential Certificates of Origin:
The most common practice, these certificates do not offer any distinct advantages to the trade.
2. Preferential Certificate of Origin:
Certificates which provides reduced tariff rates and special other privileges dependant on the issuing country and related fees.
Here, the local authority responsible for the distributions of these certificates is the Chamber of Commerce in Dubai. The organization oversees the authorized working practices for local and foreign trading companies within the encompassing lands of Dubai. Dubai’s Chamber of Commerce and Industry also provides professional business services to help facilitate any commercial trading businesses, which are not limited to:
- ATA Carnet – A one-year tax and duty exemption for trading companies to enjoy
- Business Credit Rating – Ensures reputable and good faith of company brands
- Conflict Mediator – Provides peaceful solutions between two business parties in regards to any trading-related disputes
- Attestation Services – Serves as a legal attester for any confidential documents pertaining to commercialized trading practices
Nevertheless, obtaining a Certificate of Origin from the Chamber of Commerce in Dubai is the primary practice of company dealings with the governing body. Our legal experts at Business Link UAE will also here to assist you to get the required certificate of origin from Dubai Chamber of commerce in no time. Requesting a Certificate of Origin from the Dubai Chamber is quiet lateral and convenient.
The following steps exemplify the general practice of applying for a Certificate of Origin:
- Preparing an affidavit and obtaining notarizations to ensure your company’s due diligence in running a trade practice.
- Providing invoices or related materials which show the manufacturing location of your products.
- Complete the Certificate of Origin form & document. These may be acquired from the Chamber of Commerce offices or via their portal.
- Submit all these documents and materials to the corresponding Chamber of Commerce for their processing. Certain fee charges may apply.
Acquiring a Certificate of Origin is not a time-consuming process that impedes your potential trading business practice. However, it does require a commitment to providing the relevant materials needed for consideration by the respective Dubai Chamber. Notwithstanding that the certificate is a direct requirement in running any trading business in Dubai, the time and money invested are essential for the long-running of your business. Still, it is always worth noting that you can always find a corporate sponsor in Dubai, such as the Business Link UAE, to help facilitate your business in its initial start-up phase. For more assistance, please email us at firstname.lastname@example.org.