"General Trading License and E-Services in Dubai "

INSTANT LICENSE

Working in a Hub like Dubai might be a dream come true. Such a desire is frequently considered to be unattainable; but, if one looks in the appropriate place, the dream can be seen and therefore fulfilled considerably more clearly. As Dubai offers an instant license and freelance license to businesses.

The license is given membership in Dubai Chamber instantly, an establishment card of the General Directorate of Residency and Foreigners Affairs as well as three work permits for employees from the Ministry of Human Resources & Emiratisation once the trade license is issued. An Instant License includes four legal forms – Limited Liability Company, One Person L.L.C, Sole Proprietorship and Civil Company.

WHAT IS THE INSTANT LICENSE?

The Instant License is a trade license that may be issued in minutes for businesses doing commercial or professional business operations. This initiative of issuing instant licenses is a ground-breaking service that allows businessmen to easily establish and conduct business in Dubai by issuing an electronic Memorandum of Association (MOA) and a virtual site for the first year only. Not only that as soon as you acquire your DED instant license.

The Dubai government issues an instant general trade license, which you may get through the department of economic development (DED). A section dedicated entirely to the needs of small and medium-sized businesses. Once the trade license is obtained, this licensee receives immediate membership in the Dubai Chamber, a General Directorate of Residency & Foreigners Affairs establishment card, and three work licenses for workers from the Ministry of Human Resources &Emiratisation.

PROCESS OF GETTING AN INSTANT LICENSE

The process of getting a business license in Dubai varies depending on the many processes involved, such as documents, company operations, and other business needs. A standard business license also requires tenancy agreements, which is not the case with an immediate license because it is exempt from the necessity of a 12-month leasing agreement.

The investor ensures that market entrance is feasible in a short time and at extremely low rates in this way. At the same time, the immediate license has the benefit of allowing an investor to assess the market before committing to larger investments.

The paperwork required for an Instant License Dubai DED is simple. You just need to provide your ID to create an account before finishing the procedure when applying online using the e-channel site.

If you apply at a service center, you must give the following information:

Copies of all licensees’ passports are required (partners and managers)
A copy of your resident visa and a letter of authorization.
A duplicate of your visa

COST & LEGAL FORM DED REQUIRES:

One of the most cost-effective methods to start a business in Dubai is with an Instant License. In Dubai, the Instant License costs only AED 3,000. Also included in this cost is the issuance of the company’s trade name. If you are a newcomer to the UAE, you must also consider the cost of your visa application as well as the costs of any dependents.

The following legal forms are necessary for an immediate license from DED:

Limited Liability Company,
One Person L.L.C,
Sole Proprietorship,
Civil Company.

BENEFITS OF ACQUIRING INSTANT LICENSE BY DED:

Dubai instant license is a service given by DED, department of Economical development by Government of Dubai. It enables company owners to get commercial licenses in a single step in under five minutes. The project is a ground-breaking service that allows business people to quickly start and conduct company in Dubai by issuing an electronic Memorandum of Association (MOA) and a virtual site for the first year only.

While granting the Instant Licence, the Ministry of Human Resources and Emiratisation adds the registration of “Native” personnel. This is part of the UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum’s, Cabinet’s implementation of Emiratisation decisions to encourage the private sector to recruit UAE nationals and develop their capabilities and skills in order to competently lead the competitive knowledge economy.

Dubai provides such an environment that is filled with beginning services that may initially help businesses to establish themselves with the highest safety and security, ensuring their success. Besides Dubai make exceptional efforts in helping entrepreneurs, SMEs and companies create their businesses in the appropriate jurisdiction and with the proper company structure, so they may position themselves for long-term growth and success while avoiding costly mistakes. Dubai’s instant licence is one of these services.

TRADER LICENSE

Hence getting a valid trading license in Dubai, UAE forms an integral aspect of company formation in the Emirates. The DED Trader license enables start-ups in Dubai to conduct business activities online and across social networking accounts. The license aims to guide traders towards the right path to enter the business world. Through the DED Trader license, Dubai Economy seeks to regulate and enhance ease of doing business electronically. The DED Trader licence is issued electronically wherever you are by. One of the benefits of getting a DED trading license is that a company can trade within Dubai and other Emirates. Dubai gives three main possibilities to its entrepreneurs for business setup in the Emirate, one can set up the company in the mainland, or offshore. The business owner or investor needs to decide the location of their business to get a trading license in Dubai.

To obtain a trade license in Dubai, UAE, the business person has to choose a suitable trade name as well as the legal structure of the start-up. Besides, decide all the business activities to be included in the license, submit the application for initial approval, arrange the required documents like Memorandum of Association (MOA), get approval from the concerned Government authorities, get a tenancy agreement attested by the EJARI, and finally submit the application to Department of Economic Development for the license.

GENERAL TRADING LICENSE IN DUBAI

General Trading is one of the most profitable business investments in Dubai. There is a huge local demand for essential supplies and goods due to the diverse population in the UAE. Trading includes a wide range of items ranging from daily essentials to sophisticated heavy machinery. The scope of General Trading in UAE Is very vast due to the number of business activities conducted in UAE on a daily basis.

GENERAL TRADING LICENSE

The General Trading License enables the investor to indulge in selling, distribution, and storage, import or export, etc. General Trading License covers a wide range of business activities ranging from any type of retail and wholesale of goods to the selling of accessories, clothes, furniture, electronics, etc. If the company is involved in the trade of multiple goods and not a single item, getting a general trading license is the right choice.

SCOPE OF FUTURE

Variety business activities ranging from wholesale, retail, import-exports of essential goods, clothes, foodstuffs, machinery, electronics, and more fall under the purview of General Trading. The company registered for General Trading License has a scope limited to the chosen business activities for a particular General Trading License applied. It is not permitted to trade any unregistered products using an issued General Trading License.

However, compared to the specific License category, a General Trading License allows entrepreneurs to sell more items. To be clear, using a General Trading License, one can sell all essential items like packed food, home essentials, clothes, personal care products, etc.

STEPS IN OBTAINING A GENERAL TRADING LICENSE IN DUBAI

Choose the right jurisdiction –Mainland and the business activities under the general trading License
Choose the trade name for your company and the legal structure
Fill up the initial approval form and submit it to the concerned authorities
Get the required approvals for your business if required
Prepare the required documents such as the Memorandum of Association (MOA), and all the approved documents from the relevant government authorities
Choose the ideal business location and obtain the Tenancy Contract and Ejari
Obtain the Trade license by submitting all the required documents and fees
Apply for residence visa and business bank account

DOCUMENTS REQUIRED FOR ACQUIRING A GENERAL TRADING LICENSE IN DUBAI

Signed and duly filled General Trading License application by the investor or manager
Memorandum of Association, Shareholder agreement, other required documents
Attested Trade Name Approval Letter from the Dubai Economy or
Passport copy of the Shareholders

TWO WAYS OF ACQUIRING A GENERAL TRADING

Investors looking at opening a wholesale and retail business in the mainland of Dubai, getting a General Trading License from the Dubai Economy is the ideal choice. The Investor can obtain the General Trading License in Dubai from the Dubai Economy. There is an Instant License issued by DED which has a one-year validity and that does not require office space. However, post one year the investor has to renew the license by securing a physical office space for your company to conduct trade in and outside of UAE. General Trading License Cost in Dubai depending on your business activity, approvals, and several other factors. General Trading License in UAE enables the investor to directly sell, store, and distribute goods in the UAE. It will allow you to be actively involved in the local trading in the UAE and open a store and office anywhere in the UAE. Also, there is no restriction on the number of visas and employment visas. Depending on the office space acquired, you can employee staff accordingly. A foreign investor in the UAE to acquire a General Trading License must be having a local UAE Sponsor who would be holding 51% of shares. The shareholder agreement and other supporting documents must be submitted to the Dubai Economy to obtain the General Trading License in Dubai

Choose the right jurisdiction –Mainland and the business activities under the general trading License
Choose the trade name for your company and the legal structure
Fill up the initial approval form and submit it to the concerned authorities
Get the required approvals for your business if required
Prepare the required documents such as the Memorandum of Association (MOA), and all the approved documents from the relevant government authorities
Choose the ideal business location and obtain the Tenancy Contract and Ejari
Obtain the Trade license by submitting all the required documents and fees
Apply for residence visa and business bank account

DOCUMENTS REQUIRED FOR ACQUIRING A GENERAL TRADING LICENSE IN DUBAI

Signed and duly filled General Trading License application by the investor or manager
Memorandum of Association, Shareholder agreement, other required documents
Attested Trade Name Approval Letter from the Dubai Economy or
Passport copy of the Shareholders

TWO WAYS OF ACQUIRING A GENERAL TRADING

BENEFITS FOR THE INVESTOR

UAE only has a 5% VAT on all trade transactions within the UAE and overall there is a significant tax benefit when compared to other European and Asian regions.
General Trading License from DED enables you to take an office anywhere in the UAE and indulge actively in the local market.
Company Formation in UAE Mainland is a seamless process. LLC Company Structure is the most chosen by the investors.
Finding a local sponsor for LLC company is easy by taking assistance of Business Consultants
Easy visa availability for employees. Visa quota is awarded based on the office size taken by the investor.
Easy Bank Account opening and transacting in multi-currency.
100% profit and capital repatriation

RENEW LICENSE

Getting a general trade license in Dubai is a relatively simple procedure. Once obtained, the license is valid for 1 year in Dubai. After this, you’re required to renew your license. The renewal of trade license is valid for another 5 years. Apply for a renewal license at the Department of Development authority by collecting all the documents required. There are many mediums from which you can apply. These include a mobile application, authorized service channels, e-Services, and authorized law firms.

Documentation required during the renewal process

Ejari Registration Certification
Photocopy of Trade License
Photocopy of Tenancy Contract
Passport copy of all business entities
A typed BR/1 form

Open Bank Account in Dubai, UAE

Being an international business hub, Dubai is a bustling city where a lot of financial activities take place. In order to facilitate these financial activities, many financial institutions operate in Dubai and UAE. The banking sector in the UAE has a unique relevance of being the largest in the middle-east. You can open a bank account in Dubai, UAE for your personal purposes as well as business purpose. Opening a bank account in Dubai for non-residents is also not a difficult task. If you are not a resident of UAE, you can open a personal bank account in UAE with specific limitations on the choice of banks and the features they offer. However, this limitation is not a major concern as many prominent banks in UAE offer non-resident bank accounts. Most banks in the UAE permit non-residents to open savings bank accounts only.

E-services