Dubai has always enchanted businessmen from across the globe. The reasons are many. State-of-the-art infrastructure, low taxes, impeccable working environment, transparency, and availability of all kinds of labor and staff are some of the few compelling ones. However, with changing times even Dubai has tweaked its laws and fine-tuned its rules to trading business startups in Dubai. For new entrepreneurs, it simply translates into a situation that is confusing and challenging.
Let your spirit of doing business in Dubai, UAE not fizzle out because of the discipline required while submitting the documents. Business Link UAE offers end-to-end solutions for business startups in Dubai or renewing a trade license in Dubai which is the first step towards starting your dream project in this bustling emirate.
Dubai offers different types of trade licenses depending on the type of business one intends to set up. Mentioned below are three typical licenses and the kind of activities a business entity can perform.
• Professional License – This license allows business folks to offer professional services. Some of the professions in this category include interior designers, craftsmen and artisans, doctors, finance and marketing consultants.
• Commercial License – Commercial license in Dubai is one of the popular licenses sought by new entrepreneurs. It allows them to perform trading activities of a specific category, as declared in the application form.
• Industrial License – This license requires conducting manufacturing, semi-manufacturing, and industrial activities.
What are the documents required to get a trade license in Dubai?
Some of the important documents required while applying for a trade license in Dubai mainland are mentioned below.
New business entities need to understand that DED’s trade and commercial license department scrutinizes these documents and based on the approval a license is sanctioned.
– A designated application form duly filled and signed by the authorized company representative.
– Provide supporting documents such as memorandum of articles, company formation deed of the parent company, etc. Both, original and copies of the said documents are required.
– Approved business name and associated consent by the Department of Economic Development (DED).
– Another important document required at this stage is the tenancy agreement. For a company formation in Dubai, this is one legal paper that plays a crucial role. The space rented for daily commercial activities also determines the number of employees that the company is allowed to hire (The ratio is 100 square feet per employee). However, there are exceptions.
– Passport copies of the authorized signatory/partners/directors depending on the parent company formation
Remember, a trading company set up in Dubai mainland requires a local sponsor with a 51% stake.
Commercial license setup in UAE also requires approval/s from various local / government bodies / agencies. Approval of the UAE Central Bank is essential for banks and financial institutions, and likewise, manufacturing businesses need a nod from the Finance and Industry Ministry. Medical and pharmaceutical businesses need clearance from Health Ministry.
If you looking for a law firm to help you obtain a general trading license in Dubai or seeking a business setup consultant in Dubai then look no further. Business Link UAE can help you with the necessary permits and approvals, and at the same time draw parallel agreements to secure your investment.