Renewing your business license in Dubai is not a complicated process at all. It's much easier now. In Dubai, business permits continue every year. To make this easier, the Ministry of Economic Development (DED) has taken new steps. They only allow people with a trade license to start a business in Dubai. Different company categories have to be approved by other ministries. Initiatives such as smart electronics and registered agents will help renew your business.
How To Obtain a Trade License in Dubai, UAE?
Renewing your business license in Dubai is not a complicated process at all. It's much easier now. To make things easier, the Department of Economic Development (DED) is taking new steps. They only allow people with a commercial license to start a business in Dubai. Different company categories have to be approved by other ministries. Initiatives such as smart electronics and registered agents will help you innovate your business.
What is a Trade License?
A company can apply for a general trading license in Dubai if it intends to export, import, or trade products like clothing, accessories, furniture, electronics, etc. Foreign investors seeking market opportunities for import and export in the UAE must obtain a general trading license. If you cover multiple commercial activities that fall into the same or different categories, it requires public, commercial approval.
This license has many advantages. However, You cannot trade some products such as weapons, cars, alcohol, and medical products under a general commercial license. This product requires approval from higher authorities or support from the UAE community. However, these products can be markets under a commercial license after going through the approval process.
Benefits of Trade License
Some significant benefits of obtaining a trade license in Dubai are as follows-
- You can have a local and international trade facility
- Wide range of banking facilities
- Hassle-free lawful process
- No mandatory auditing
- No Currency Restrictions
- Quickly contact Visas For employees
- Low import duty
Why is it essential to obtain a trade license in Dubai?
If a general marketing license is your business needs, here is a list of reasons you need a permit to start your business in Dubai.
- Affordable Business Setup Cost
The prevailing belief in the UAE is that it is costly to start a business with a general trading license. However, compared to the costs of doing business in the free zone, the application fee for a trade permit starts at just AED 17,000 and depends on your business needs. The total cost is unlikely to exceed AED 100,000, similar to a famous free zone such as the Dubai Freight Center.
You Can Apply for Multiple Visa
A General Marketing License is a relatively preferred choice for working with companies with multiple employees because they allow you unlimited visas while managing continents. However, if you have many tickets to collect, keep in mind that you will need to increase the office space's size accordingly.
It makes it a 100 square meter office or visa warehouse, which is the basic rule in Dubai but don't worry, it is negotiable with DED. For example, if you have a cleaning company with more than 500 employees at a train station, you could negotiate with DED so that the company doesn't have to occupy such a large office.
- Avoids Entry Barriers
Obtaining a general license is a relatively quick and easy application process and offers several ways to start a business with low business ownership barriers. Since no paid-in share capital is required to set up a continental joint venture, the acquisition costs are usually minimal. There is no need for general trading that is subject to annual audits.
Obtaining a general trade license in Dubai and the United Arab Emirates is a simple process. In fact, in most cases applying for a general marketing license is seen as relatively easier than setting up in a free zone. If you meet the eligibility criteria for a permit, new initiatives make the whole process easier. You must register with the Dubai Economic Development Department (DED). Finish it in 90 minutes without signing a lease agreement.
- Easily Sponsor Your Dependent
Obtaining a general business permit in Dubai makes it easier for you and your employees to apply for a visa and allows you to sponsor relatives for their tickets. So if you need access for your spouse, child, helper, or driver, the process is easy. Your assistance must go through entry authorization, status adjustment, medical fitness tests, Emirates ID registration, and visa stamps and can accompany you to Dubai.
It is a suggestion to take guidance from an expert when starting a free zone business in UAE to ensure that you and your sponsored loved ones meet the entry criteria before applying, as this is the case. It is a necessary process.
All companies in Dubai have to renew their trading license every year. A charge is a legal license that allows a company to operate according to the business processes in the UAE. The permit must also comply with government guidelines. This step can accelerate your business to faster growth and higher sales. Don't miss Trade license renewal Dubai. Otherwise, you will have to pay hefty fines.
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