Dubai trade license is issued by the department of economic development authority. Without this license, businesses cannot hope to set up shop in UAE. For certain business categories, your license cannot be issued without gleaning approval from relevant authorities and concerned ministries.
For instance, the central bank of the UAE need to grant permission to financial institutions and banks, the Ministry of Finance can grant approval to the manufacturing businesses, the Ministry of Economy and Commerce has the authority to grant approval to insurance companies and related agencies, while the Ministry of Health authenticates medical products and pharmaceutical industries. All industrial and commercial businesses in Dubai need to get registered with the chamber of Industry and Commerce to operate without a hitch in UAE.
Types of Trade License in UAE
When it comes to the types of licenses you can garner according to your business activity, three categories are available:
- Industrial licenses for establishing manufacturing or industrial activity.
- Professional licenses for artisans, craftsmen, services, and professions.
- Commercial licenses for all sorts of trading activities.
Requirements to Acquire Trade License in UAE
It is relatively simple to garner trade license in the Emirates. If you are in the throes of planning your business setup in Dubai, it is indispensable that you heed the following legal requirements, which are needed by all concerned government authorities and serve to benefit the business owners as well.
- Determine which related business activities fall within a business license.
- Allocate your business category as professional, industrial, or commercial.
- Make sure that all the prerequisite documents are prepared in advance, such as approvals from relevant government authorities and memorandum of association.
- Choose a trading name.
- Plan your business legal status in UAE.
- Obtain approval from the authority and lease business premises.
- Application to the department should be prepared so that it is sent for approval.
Anyone can aspire to do business in Dubai if they have attained a valid trade license. A lot of credible companies provide business owners with complete assistance for renewing the trade license or for incorporating new company. By combining their extensive experience with in-depth local business knowledge, such companies make sure that your business is set up without any hassle. By handling all details of the process for you, these companies alleviate you of the burden, leaving your hands free to think on the bigger picture and plan for the success of your business.