If you are looking to start a business in the UAE, you must familiarize yourself with the various types of licenses available. The general trading license is one of the most commonly used licenses and has many advantages for businesses. This guide will discuss some of these advantages to deciding which license is suitable for your business.
Benefits of a General Trading License
The first advantage of a general trading license is that it allows businesses to import and export products without restrictions. This means that companies can source products globally and sell them to customers in the UAE. There are no quotas or limits on the amount of product that can be traded, which gives businesses a great deal of flexibility in sourcing goods.
Another advantage of a general trading license is that it allows businesses to partner with other companies to share profits or resources. This can be helpful for expanding into new markets or launching new products, as a business can work with partners who have expertise in specific areas.
If you want to start a business in the UAE, a general trading license is worth considering. It provides businesses with a great deal of flexibility regarding sourcing products and partnering with other companies.
Documents Required for a General Trading License
The first step in applying for a general trading license is to submit a business activity form to the Department of Economic Development (DED). This form can be obtained from the DED website or their offices.
Once the business activity form has been submitted, businesses will need to provide the following documents:
- A trade name registration certificate
- Proof of UAE national ownership (such as a trade license or incorporation certificate)
- Passport copies for all owners and partners
- Business profile and evidence of capitalization
In addition to these documents, businesses will also need to submit the required licensing fees to complete the application process. Once all necessary documentation has been submitted, the DED will review and process your application.
If you are considering applying for a general trading license in the UAE, familiarize yourself with the requirements and start compiling all necessary documentation. It can be relatively simple to obtain this type of business license with planning and preparation.
General Trading Permit Activities
Under a General Trading License, the company can import, export, distribute and store products per the Business Plan approved by the Department of Economic Development. The company can also provide services related to the marketing and promotion of its products in the UAE.
The following are the common activities undertaken by General Trading Companies in Dubai:
- Import general merchandise, including foodstuff, construction materials, machinery, and equipment
- Export of general merchandise
- Distribution and storage of available merchandise
- Marketing and promotion of products
Conclusion
A General Trading License is required for any company that intends to engage in importing, exporting, distributing, or storing general merchandise in Dubai. The license is also required for companies that provide services related to the marketing and promotion of products in the UAE.
Dhanguard can assist you with starting a business in Dubai, obtaining a free zone license, or creating a corporation in Dubai. We handle everything from visa applications (including UAE investor visas) to administrative duties, allowing you to focus on your company.
