Trade Licensing

Trade Licensing in Dubai

What is the procedure for Trade Licensing in Dubai?

For over 30 years, Dubai has progressed towards becoming a local trading community. Allowing various options with trade licensing to help start building more business opportunities and creating space for investors to set up their business in the city. The exposure established over the years has encouraged many foreign and local businesses to invest in the Dubai market. Dubai has always aimed to attract investors from all around the world.

To establish a business in Dubai, it is important to possess a Trade License. The Trade License is issued by the economic development authority. All businessman who wishes to start a business in the UAE should register with the Chamber of Commerce and industry in Dubai. Without permission to start the business, it is impossible to conduct the trade in the city or any other Emirate.

However, Trade Licensing for certain businesses requires approval from other authorities. For instance, if you wish to invest in the banking and financing industry in Dubai, then you must get approval from the Central Bank of the UAE.

There are three types of Trade Licenses issued

1. Commercial Licenses
2. Professional Licenses
3. Industrial Licenses

If you wish to obtain a Trade License in the UAE, you should simply follow the process.

Commercial Licenses

A commercial license is issued for trades that involve in the buying and selling of goods. The business can only conduct the activities mentioned on the license. You can get an import as well as export type for a commercial license, electronic trading, car rental services, Brokerage firms, Logistics firms, Real estate Brokerage, and building material trading.

Professional Licenses

The professional license is issued for service providing business. However, professional licenses cannot be simply approved like the commercial Trade License, you need to get the approval of the respective ministry to conduct the business in the city. With a professional Trade License, you can have 100% ownership in the business and the profits.  Law firms, Management consultancy, educational institutions, IT services, Audit services, Accounting, Marketing consultancy, and medical services can be conducted with a professional Trade License.

Industrial Licenses

Industrial License is issued for business who are involved in the manufacturing process. Manufacturing and industrial zone is one the main focuses in Dubai. The business setting up under the industrial zone must possess an office in UAE to continue the manufacturing in the city. Businesses manufacturing of food products, production of cosmetic products, metal casing, furniture making and packaging are allowed to obtain an industrial license.

Requirements

• Select the category the business falls into. It can either be commercial, industrial, or professional.
• Select the business activities that should be included in each business license in Dubai. You can determine up to 10 per license.
• Propose your business legal status in the UAE
• Choose the appropriate name for the business
• Submit the Trade License to the Department for an approval
• Register your business name, once it gets approved
• Lease a business office and obtain the approval from the authority.
• Prepare all the relevant documents such as the Memorandum of Association (MOA, approvals from other relevant authorities that are related to the business.
• Pay the required fee after you obtain the final license.

It takes an average of 6-8 days to completely set up the business in the UAE with all the procedures. Dubai is an international destination for many businesses, it upholds a high-quality process to ensure that all businesses approved into the market maintain the market standards and contributions.