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If you own a reputable company and you wish to import, export, or trade products, you must apply for the general trading license. A general trading license also covers wholesale businesses. The primary advantage of having a general trading license is that you can trade anywhere in Dubai and other Emirates without a problem. However, some products such as alcoholic beverages, frozen goods, and pharmaceutical products require special approval from the respective authority to trade. Due to the several opportunities available in the UAE, the general trading license gives you the advantage of exploiting all these trading possibilities. The UAE provides you with three primary options to start your business: the mainland, free zones, or the offshore option. Here is how to get your general trading license in the UAE.
Why Apply for a General Trading License?
The acceptance of the general trading license in the UAE involves an easy-to-follow procedure. The experts in the UAE has made the process simple and easy for you to qualify. The cost of setting up a business and using a general trading license is also reasonable. Additionally, you will have the freedom to launch your company anywhere in the UAE. Unlike other options, a general trading license permits the use of unlimited visas. As such, it is easy to sponsor your dependents for their visas. However, you must talk to an expert when launching your business in the free zone. The skilled person will certify whether you and those you wish to sponsor meet the entry standards.
Getting your General Trading License.
If you think this is the correct path for your business, the next question in your mind should be how to apply for a general trading license in the UAE. Here are the steps to obtain a general trading license in the UAE.
- Choose a favorable company name and legal structure for your business
- Choose all the activities you wish to include in the license (a maximum of 10 operations per permit)
- Fill in and submit your application for the initial approval
- Get external approval if required (this depends on the type of your company)
- Arrange all required and approved documents from all the relevant government authorities.
- Choose a location for your business and get a tenancy contract
- Submit your application to the Department of Economic Development (DED) to get the final license
- Make the requisite payment for the permit.
Required Documents.
You have to submit the following documents to obtain a general trading license.
· License application signed by either the company managers or their legal legislatures
· A Memorandum of Association
· A company name approval letter from DED, and
· Passport copies of all partners.
The commercial Registry Authority checks for the authenticity of these documents. Your company name is then added to the Commercial Registry. The DED then forwards your documents to the Federal Ministry of Economy for the journal. The ministry then publishes these documents and issues an approval letter. The DED then issues the general trade license, which is valid for one year.