Abu Dhabi is one of the major Emirates known for its economy and area. It is the epicenter for the major production and reserves of the UAE. Therefore, Abu Dhabi can be an ideal place to start your company in the UAE. If you plan to start a business here, you need to apply for a trade license in Abu Dhabi. The city is constantly flourishing because of the government’s efforts to promote trade and bilateral ties which is crucial for every business.
What is a Trade License in Abu Dhabi?
Before understanding the cost of a trade license in Abu Dhabi, you need to know how a trade license can be helpful. The trade license is an important document that all individuals and companies must own to carry out their business in the UAE.
The Department of Economic Development supervises all the activities. After receiving the license, as the business owner, you will be permitted to do various activities. Some of the activities that you can do in Abu Dhabi include the following:
- Importing and exporting goods to other nations.
- Be a part of various commercial activities.
- Reach out to the masses to inform them that you’re starting a business.
Individuals who are new to the UAE market must take help from a business setup consultancy. Business Link is an efficient consultancy that can help you in the entire process of applying for a trade license. We help you with the documentation along with avoiding any cultural challenges that you may face.
Instant Trade License in Abu Dhabi
When you apply for a trade license in Abu Dhabi, you need to remember certain points. Therefore, the important points to take into consideration are as follows:
- Anyone who aims at starting a business in Abu Dhabi must apply for a trade license.
- If you are starting a small business, you must include all the service-oriented businesses that you will be starting.
- The trade license will come with a default visa quota along with three employees.
- With an instant trade license, you can conduct around 2,500 activities. However, you must own office space within the first year of office.
- If your paperwork is fine, you can get the instant trade license within one working day.
The Step-by-Step Guide to Obtaining a Trade License
It is crucial to follow the information given by individuals to start your business. The instructions for applying for the trade license in Abu Dhabi are written in a very easy-to-understand manner.
The step-by-step guide to obtain a trade lcense in Abu Dhabi include the following:
- You should have an appropriate trade name for your business that does not offend any religion.
- It is necessary that the business follows a legal form.
- Next, finalize the activity that your business will be following.
- Submit all the relevant documents within time.
- Certain activities will require external approval. If you need instant approval for any such activities, you should apply for it immediately, without any delay.
- Meanwhile, you should find an appropriate location to start your business. It is advisable to apply for a final license form at the Department of Economic Development.
- Pay the license fee.
Trade License Renewal in Abu Dhabi
The validity of a trade license in Abu Dhabi is around one year. After one year, business owners must apply for trade license renewal in Abu Dhabi. Therefore, you should renew the license before it expires. You may need to submit the expired license as proof of approval. The Dubai Department of Economic Development will validate your license. The renewed license will have a validity of 5 years.
Why Should you Apply for a Trade License in the UAE?
Having a trade license just makes it easier for you to conduct business in the UAE. Some of the common reasons why you should apply for a trade license in Abu Dhabi include:
If you have a trade license, you will be exempted from paying tax. No tax will be applied to your income or profit.
The process of applying for a trade license in Abu Dhabi is fairly simple. All the formalities for applying for the license are easy. You need to ensure that you complete the documentation process carefully. Business Setup consultants at Business Link can therefore make the process seamless and easy for you.
Get Multiple Visas:
One of the major benefits of having a trade license in the UAE is that you will get multiple visas. The multiple visa facility will be applicable for the license holder and the staff. The number of employees for whom the visa will be issued will depend on the office space. Therefore, if you have a large office space, you are likely to receive more visas.
As a business, you will be eligible for getting business repatriation. This repatriation will be applicable for the profits and assets.
No Annual Auditing:
When you have a trade license, you will not need to worry about the annual auditing report. As the license holder, you don’t need to submit any additional documents.
Apart from holding multiple visas, you can also sponsor visas. The visa sponsorship facility will only apply to the license holders.
Better Chances of Trading:
Every license holder will get the opportunity to explore the market at its full potential. You need to have a general trading license to start your business without any problem.
What Documents Do You Need to Submit to Acquire the Trade License?
While applying for the trade license in Abu Dhabi, you must submit all the right documents. The authorities will cross-verify the documents before providing the approval. Some of the major documents that you will need to submit include:
- Your Emirates ID
- Verified UAE pass account
- Copy of passport and residence visa
You need to submit all the necessary documents to the concerned authorities. Connect with Business Link to give your business a boost. We will make it easier for you to apply for a trade license in Abu Dhabi. Our business consultants will help you with the documentation and establishing a business in your niche.