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Over the years, Dubai has become one of the most attractive places for doing business. Given its strategic location and economic diversity, Dubai is one of the leading countries for foreign direct investment in the MENA region (Middle-East North Africa).
In our recent blog on top business opportunities in Dubai for 2021, you will discover insights on which industries have proven to be most successful in this market. The commodity trading business for diamonds, gold, and base metals topped the list. Followed by huge growth in the healthcare, real estate, eCommerce, and IT sectors.
Depending on which industry you choose to venture into, you will need to apply for the right license to carry out business legally.
There are actually 3 kinds of license DED issues covering all business activities. The legality of each license is depending on the nature of the business activity you choose.
Commercial License in UAE is mandatory for any business establishment that aims to buy or sell commodities. This license is necessary to conduct trading both in and out of the Emirates. There are many business activities that make use of a valid Commercial Trade License in the UAE. And some of the major activities are goods and commodities trading, import and export, real estate business, logistics enterprises, and a lot more. The authority in charge of issuance of the Commercial License is the Department of Economic Development (DED).
The process for obtaining a commercial license will involve applications to different departments and ministries depending on the type of commodity you intend to trade. The laid down procedure has to be pursued meticulously to get the commercial license issued. An erroneous application or discrepancy in documents can result in the rejection of the application. Our team will assist you in accomplishing the application process successfully and will get your commercial license in a time-bound manner.
The DED will issue a commercial for your business in Dubai based on the documents you submit. The commercial license in Dubai will be valid for one year; after expiry, you need to renew it. Here are the documents needed to apply for a Commercial License in Dubai.
Obtaining a commercial license in Dubai is comparatively easier than many of the other types of business licenses. Moreover, the commercial license possesses several advantages. The business firm issued with a commercial license is permitted to carry out varying activities.
The Advantages of UAE Commercial License are:
In Dubai where the government rules & regulations are prone to changes in order to meet the international standard, Before you actually setup your desired business & start your operations in the country, you will be required to deal with a systematic activity-based licensing process to obtain valid permission from Dubai economic department. Moreover, these licenses also have a corresponding fee structure & may have different requirements from government compliance for you to complete. Hiring a Business advisory from the start will help you in sorting out all the above hurdles comfortably.