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General Trading License in Dubai
A General trading license in Dubai allows entrepreneurs to conduct trading without facing penalties.
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General Trading License in Dubai
Dubai has rapidly grown from the time when it was a trading outpost on the sea route and
today is home to 3.3 million residents. Its population is only growing, thanks to a favorable
business climate that sees thousands of investors set up shop in Dubai and hiring
employees for their operations. Just about every industry sector is booming, and so it
makes sense to set up a trading establishment or an e-commerce operation as well to take
advantage of the growth that Dubai offers.
What is General Trading License?
A trade license is the other name for a Business License that is mandatory to run a business operation. Because trade and commerce are strictly regulated in the United Arab Emirates, there are hundreds of designated business activities, each requiring a Business License. Sometimes, allied business activities can be undertaken with the help of a single Business License.
A General Trading License in Dubai specifically allows the holder of the Business License to trade in various items, such as would be the case with a spices store or a supermarket. However, this comes with its own set of restrictions on what you may trade in and what you may not. For example, alcoholic beverages, firearms, and medical / healthcare products cannot be sold without securing additional permits. Dealing with frozen foods and perishable vegetables too comes with its own set of restrictions – you must have a temperature- controlled storage area or godown apart from the retail area.
Why Apply for a General Trading License in the UAE?
Because of Dubai’s population, its well-connected public transport system and its network of roads (meaning easy accessibility wherever you go), and a high disposable income, there is a lot of demand for general trading establishments which deliver to the client’s location. Dubai has the second highest number of five-star hotels in the world, and all these fine establishments, as well as four-star hotels, three-star hotels, resorts, and other players in the hospitality and tourism industry, are dependent on general trading establishments to supply them with fresh produce and provisions. There are general trading establishments that cater to institutional customers as well as the residents of Dubai, who in turn are dependent on these general
trading establishments for their various needs.
The United Arab Emirates makes it easy for those running general trading establishments
with its attractive tax structure. You are also allowed to fully
repatriate your profits, or even your invested capital. There are no forex restrictions. The local currency is in fact pegged to the US dollar, lending itself to a very stable environment,
free from the frequent changes that are normally associated with forex conversion rates.
General Trading License Activities
A General Trading License in Dubai allows you to trade in almost everything. You could trade in multiple items at the same time, even if they are unrelated to each other. For example, you could deal in baked goods as well as toys, pet supplies and perfumes, or any other combination that comes to your mind. Of course, there are licensing regulations such as how tobacco cannot be sold to minors, but for the most part, almost anything – barring a few restricted items – can be sold in the United Arab Emirates.
You also have the opportunity to hire as many workers as you need for your business operations. Foreign workers can legally bring their family over to the United Arab Emirates on spouse / dependent visas, subject to them meeting the minimum income criteria.
We can assist you in obtaining the appropriate trade licence in Dubai for your business. Our team of pleasant and knowledgeable company formation consultants in dubai collaborates with our legal team to ensure that all of the necessary documentation is completed.
List of Documents Required for General Trading License
Documents required
- Copy of passport
- Copy of residence visa (if already in the UAE)
- Copy of educational certificates [for Managers]
- Two passport-sized photographs
- Noc from the current sponsor if you are already a resident
- Certificate of Incorporation
- Memorandum of Association
- Incumbency Certificate / Certificate of Good Standing (if applicable)
- Board resolution and power of Attorney
Benefits of Obtaining a General Trading License in the UAE
- 100% foreign ownership
- Easy to incorporate a company in the United Arab Emirates
- Low or nil import duties
- Local and international trade
- No requirement of paid-up capital
- Applying for work visas is easy
- Applying for dependent visas for spouses and family members of staff is easy
- Freedom to recruit workers from anywhere in the world
- Ability to trade in multiple items at the same time
- Transfer funds worldwide easily
- No restrictions on foreign exchange
- Different configurations of offices to suit your needs
- Multiple warehouses available
How A&A Associate LLC will Assist You in Getting a General Trading License in Dubai?
A&A Associates are experts in 360 business solutions. We can help you obtain your general trading license in Dubai by fastening approvals of documents and licenses as we have direct tie-ups with the top-tier management of the nation i.e., the government of Dubai.
The steps to obtain a general trading license in Dubai,
Register the Company
Collect the Documents
After the initial approval, prepare the documents required for final submission. The documents include MoA, AoA, passport copies, and other relevant documents.
Pay the License Fee
Finally, make the license fee payment along with an issuance fee.
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Faq
How to get a general trading license in Dubai?
Getting a general trading license in Dubai is straightforward with an expert company formation consultant in Dubai. They assist entrepreneurs in collecting the documents and obtaining necessary approvals from the concerned government authorities.
General trading license cost in Dubai
The approximate cost of obtaining a general trade license will be between 15,000 AED to 50,000 AED. The license cost may vary based on factors such as warehouse size, business jurisdiction, additional approvals, office space, and visa applications.
Mention the business activities under a general trading license in Dubai.
The license allows entrepreneurs to be involved in sales, storage, distribution, export, and import.
What is the difference between a general trade license and a trade license?
A general trading license allows companies to trade multiple retail or wholesale goods in and out UAE except the exempted goods. Whereas, a trade license allows a business owner to trade only specific goods.
When should you renew a general trading license?
The general trading license has a validity of one year from the date of issuance
What is the time required to obtain a general trading license in Dubai?
The license formalities are straightforward in Dubai. The license issuance takes around ten days.