The city of Dubai offers great perks to entrepreneurs and recognized business firms. The main advantage they can acquire is by doing business legally with an official trade license approved by Dubai governmental authorities. Trade license Dubai opens channels for startups and allows them to expand the business globally with full support from the Dubai Department of Economic Development (DED).
There is some important information that is necessary to be followed by the businessmen to acquire or renew their trading license in Dubai.
Requirements for Business Trade License Dubai
To start the trade license Dubai issuance or renewal procedure, there are legal steps that must be followed which are:
The company for which you are acquiring the trade license must exist in three major business categories that are:
- Commercial Business
- Professional Business
- Industrial Business
Each of these businesses has separate functions and target market but the rules they must follow are the same.
- The business must not be linked with any sort of illegal activities which are prohibited by Dubai Courts.
- The products, services, and transactions must be approved by DED and Dubai Chamber.
- There should be a clean record of the person who is applying for the trade license Dubai.
What are Dubai Trade License Issuance Steps?
After fulfilling the requirements for the business trade license, the technical part is slightingly complicated but after completing the license issuance procedure, the business trade license will be acquired within days.
So, for business trade license issuance here are the main steps:
- One of the business owners must be available in the DED office while obtaining the application form.
- Owner’s NOC for trade license Dubai is required.
- Passport copies of all business members are required to submit.
- VISA copies for all the business partners to be submitted.
- If VISA is not issued then the residency documents are compulsory to be delivered.
- The business model with the registered name of the company is important to be attached with the form.
- The last but not least, a primary approval from DED is required before submitting all documents with the trade lice Dubai form.
The issuance of the License procedure takes more time compared to the Dubai trade license renewal procedure. The major hurdles are for entrepreneurs because they are not familiar with the guidelines of the Dubai trade market.
License renewal Steps:
The renewal of business trade license Dubai is a rapid procedure compared to getting the license for the first time. The legal paperwork is less hectic and approvals from the Dubai bureau of the economy will be a smooth procedure comparing to the issue of trade license Dubai.
The expiry date for a trade license is just one year, after that, it is important to submit a renewal application form to DED. The consequence of not renewing the license is extremely hard for business companies and their owners.
The steps for license renewal application are:
- Copy of existing trade license.
- Copy tenancy contract.
- Copies of passports of all the business investors and partners. If you are the sole owner of the trading company then you have to attach your passport copy.
- Payment of trade license. The fee for trading license renewal is ranged from AED 8000 to AED 15000.
If the company has other branches in UAE states then the price may rise to AED 50,000.
- When all of the mentioned steps are completed then DED will give you legal notice about the progression of trade license renewing.
Advantages of trade license Dubai:
Trade license does not put a negative impact on your business or startups. This permit gives you full authority to participate in all trading activities in Dubai.
The advantages of a trading license in Dubai are:
- Open gates for local and international trading activities.
- Opening a bank account or applying for a loan becomes super easy.
- Tax-free business contracts and deals. No trouble to face from tax authorities.
- The import and export duty will below.
- Sponsors’ deals will be easy to finalize.
- No deduction from the profit and official approvals from governmental departments.
- The heavy-duty on products will decrease and fewer paper approvals are required.
KWSME trade license:
If you are planning to start a trading business in Dubai and are worried about the complex trading license procedures then there is one professional company that can resolve all of your business startup problems. That company is none other than KWSMiddleEast.
KWS Middle East is the best business consultant team in Dubai that deals with all trade license Dubai procedures and assists all business companies, entrepreneurs, and startups.
KWSME gives full business services under one roof and completes all legal documentation in minimum duration. KWSME also links with major governmental departments of Dubai including DED, Dubai Courts, Dubai Chamber, Dubai Ministry of the interior, Emirates Identity Authority, UAE Ministry of Labour, and TAS-HEEL.
KWSME can also help with:
- Annual license renewal of your trading company.
- VISA services.
- Bank account opening.
- Product registration.
- Transferring of documents online.
- Completing deals with local sponsors.
- Legal translation English to Arabic/ Arabic to English.
- Creating business documents and application forms.
KWSME is waiting for you to start afresh business in Dubai and they will help you in every business process. Visit kwsme.com to get business startup details and information about trading licenses in Dubai.