If you're a foreign national and want to start a trading company in Dubai, you'll need to get a general trading license. Getting a general trading license is a must, especially if you plan to get involved in multiple trading activities. Even if these activities are spread across different industries, a general trading license will cover it. That's why getting a general trading license should be one of the most important steps for easy and smooth company formation in Dubai.
Once you've got your general trading company license, your business startup in Dubai is allowed to conduct all of its trading activities under this one license. Once you get this important aspect of company formation in Dubai done, your startup is poised to become a key player in the supplies and trading industry, providing businesses across Dubai, the UAE, and even other countries with necessary goods.
What is a general trading business in Dubai?
If your intent is to trade in, import and export multiple products in various verticals, then the perfect choice is to form a general trading company in Dubai. This includes textile trading, equipment trading, electronic trading, or trading of any other products.
The advantage of having a general trading license is that there is no obligation that goods be related to one another. This means that you can trade in a wide range of products - from model trains to artisanal jewelry.
Of course, certain regulated goods are required to comply with health and safety standards. This includes pharmaceutical products, frozen foods, and gold. Other than these regulated items, the Department of Economic Development Dubai allows a startup business in the UAE to trade with a general trading license.
How you can get a general trading Company license in Dubai?
Currently, the Department of Economic Development (DED) offers the option of instant license processing for a general trading company. The steps that need to be followed to get a general trading license during company formation in Dubai are:
- Get approval for company name – Present three to four options for your company name reservation to the Department of Economic Development.
- Choose a UAE national as your company's sponsor – Investors need to choose a local sponsor of their company. The sponsor will hold a minimum of 51% share capital in the license. However, the UAE national will be more of a sleeping partner and need to be the company's actual partner. He or she will take only a fixed sponsorship amount annually.
- Submission of documents – You will need to visit any one of the approved centers to process the application along with the required documents. The documents required for company formation in Dubai include Passport copy, visit visa/residence visa copy, Emirates ID (if available). Once you have submitted your application to the center, the DED will issue a payment voucher for the license after successfully verifying the documents. You will need to pay the amount indicated and get your trading license.
Dubai general trading Company license fees
The fee amount for general trading in Dubai depends on factors like the number of partners in the company, the number of managers in the company, and the type of name you choose, for your company. Typically, a general trading license in Dubai costs between AED 28,000/-to 32,000. You will also need to pay sponsorship fees to the local sponsor as well as visa fees.
You can contact us to know more about the costs and procedures involved in getting a general trading license in the UAE or any other aspects of company formation in Dubai. What are the benefits of setting up a general trading company in Dubai? Getting into the general trading business promises several advantages and opportunities for a startup business in the UAE.
If you decide to apply for a business license in Dubai mainland, you can trade quite easily within the region (mainland and free zones) and also internationally.
As an added bonus, you'll also be able to apply for and obtain visas for multiple employees once your startup in Dubai gains revenue and you start to think about expansion.
Why choose Avyanco Business Consultancy LLC to set up your general trading business in Dubai, UAE
At Avyanco, our expert team makes the process of company formation in Dubai easy for the investor. Moreover, we do this in as short a turnaround time as possible. In fact, in the time you finish your cup of coffee in our office, we'll make sure your license is issued! That too, along with all the necessary approvals like name approval and initial approval of the company. Come, visit Ayvanco and
Contact us now for a free consultation to know more about company formation in Dubai, UAE.
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