General Trading License in Dubai
UAE General Trading LLC License
If you’re an entrepreneur and thinking of setting up a trading company in Dubai, you’ll need to obtain a general trading license in Dubai. A general trading license in Dubai allows start-ups to carry out all their trading operations under one license. With a trade license, your start-up could become a key player in the supply industry for supporting businesses with essential products across the city. Due to enormous opportunities in local and international markets, trader can take the advantage of all the trading possibilities. Some of the trading products like medical products, beverages, and frozen goods need special approval.
Benefits of General Trading License
- Can be 100% owned by foreign partners without a local sponsor
- No physical office is required
- Tax-exempt jurisdiction
- Provision for domestic and foreign exchange
- Auditing is not obligatory
- Hassle-free judicial process
- A wide array of banking services
- Quick access to visas for workers
- No currency constraint
- No requirement on paid-up capital
- 100% return on investments and taxes
- Low import duty
To obtain a general trading license, you need to walk through all the mentioned points.
- For your company, choose a suitable trade name and legal structure
- Decide on all the company processes to be included in the commercial license.
- Arrange all documents needed, such as the Memorandum of Articles & Association (MOAA), and all documents approved by the relevant government authorities.
- Make the required license payment, including the issuance fee to obtain the license.
- Passport copies along with visit/tourist/resident visa of all partners.
- The company proposed names, which can be English / Arabic / Abbreviations.
Why Get a General Trading License in the UAE?
Many business people choose to commence a new company in Dubai due to a favorable market environment and government support. The extensive demand for goods, ease of business, and proximity to developing markets make Dubai one of the most favored places to start a new business. Thus, it becomes important to obtain a general trading license in the UAE for these multiple benefits.
How to Obtain a General Trading License in the UAE?
Bytes is one of the few UAE-based business setup firms providing general trading licenses. For processing a general trading license, it is not mandatory to approach a UAE local sponsor and is not to be nominated as a 51 percent shareholder. The next step includes selecting the name of the organization and making it eligible for registration. Following this, the decision on MOAA, the percentage of shares owned by the shareholders follows. When finalized, applications of documents, including copies of shareholders’ passports and visas, must be submitted to apply for commercial, immigration, and residency visas.
How Bytes Can Help You?
In Dubai, acquiring a general trading license can be of great benefit to a businessman. Once you decide to set up a business in Dubai, make sure you go through all the laws because a lack of knowledge can lead to unnecessary overheads. To make it easier to get a general trading license in Dubai, we at Bytes have professionals who can guide you through the entire process.