Dubai is a city known for its brilliant nightlife and glistening waters. But it’s also a city known for its thriving economy and fantastic commercial prospects.
Maybe for this reason, so many entrepreneurs looking to launch a company in the United Arab Emirates select Dubai as their center of operations. More than 55,000 brand-new business licenses were issued in the last year alone.
Continue reading if you want to learn the benefits of a general trading license in Dubai and follow this growing trend. This manual takes you step-by-step through the application process for a Dubai business license.
What Are the Benefits of Getting a Trade License in Dubai?
Establishing a general trading company in Dubai has many benefits. A few of them are listed below:
1. You can easily set up any place
It is easy to establish a business anywhere in the United Arab Emirates, and it might even be simpler. The process of starting a business and applying for a license became simple procedures as a result of numerous initiatives. One benefit of this is that investors can fulfil the requirements for a license.
Also, the registration procedure can be finished in a short amount of time without signing a lease. Investors, on the other hand, are free to select the site of their company in the UAE. Additionally, they can lease office and warehouse space anywhere in the nation thanks to their UAE general commerce license.
2. The setup fees are reasonably priced.
This license can help your company run smoothly and is also an economical alternative. A general trading license cost starts from AED 20,000 (GBP 4600) depending on the location you choose. But it could also depend on other aspects of your business, including its specifications or other factors.
However, if further information is required, a professional can provide it.
3. It enables you to submit numerous visa applications
You can reap more benefits from it if you comprehend the main idea of trading and the advantages of a license. For instance, major businesses with a significant number of employees may require many visas to meet their needs. Investors with mainland enterprises can get a variety of visas for their staff by possessing a general trading license.
Nonetheless, it is crucial to consider the necessary workplace space, which depends on the quantity of visas. There is a requirement that each visa have a minimum of 100 square feet of office or warehouse space.
4. Investors can readily sponsor dependents.
With the use of this license, you can also sponsor your dependents to get visas in addition to obtaining them for your employees. Investors can follow a straightforward procedure to get visas for their partners, kids, maids, and drivers. The steps involved in this process are as follows:
- Obtaining a permit for admission.
- The process of status adjustment is finished.
- Finishing a medical fitness assessment.
- Signing up for an Emirates ID.
- As well as finishing the visa stamping process.
5. With this license, entry barriers are lowered.
A general trading license in the UAE not only offers the aforementioned advantages but also lower obstacles to business ownership. And it might happen in a variety of ways, such as with no upfront expense, no necessity for fully paid-up share capital, and many more. Moreover, general trade companies are exempt from yearly audit requirements.
Yet, if you want to reach the market more quickly, you can ask business experts for certain services. Yet in terms of the general trading license, that is irrelevant.
6. You can set up your business with several shareholders
The popularity of this license among business owners of large corporations has yet another significant factor, as I’ll mention in closing. This relates to the potential for them to simultaneously set up their enterprises with multiple shareholders. Although there isn’t a set upper limit, 50 stockholders are generally considered the maximum number.
On the other hand, when running a firm, it is also feasible to rely on several sorts of shareholders. You have the option of having either natural persons or corporations as shareholders in your business. As we’ve previously stated, consulting with a specialist is always highly advised if you want better results for your company.
How does a general trading license operate in the UAE?
A business license is one of the most crucial requirements that all companies in the UAE must meet in order to function. This is a legal document that gives organizations and corporations permission to conduct business and render their services in the nation. Yet, there are numerous kinds of company licenses accessible, and each one serves a unique purpose.
A general trade license is required if you want to start a trading business in the UAE. You will be able to trade a wide range of goods and products inside the nation with the help of this license. Nevertheless, you can only get this license by applying for a trading license.
The trade license and the general trading license both serve comparable purposes, but they also differ significantly in certain important ways. First off, investors can trade a wider variety of items thanks to the UAE’s general trading license. Also, it enables people to trade a variety of goods, thus they do not have to be related.
Unfortunately, because they are not covered by this license, there are some goods that you cannot trade. Medical and healthcare supplies, alcoholic beverages, and autos are just a few examples of those things. Hence, understanding what constitutes general dealing in the UAE and what products are permitted is crucial.
Reasons to apply for a Trade license in the UAE
There are several benefits to obtaining this license for general commerce in the UAE that you ought to be aware of. When compared to a regular trading license, the primary purpose of this license is already a significant advantage. Yet, the following information will teach you some good justifications for requesting a general trading license:
- First of all, you should be aware that applying for this license is a simple process. Also, the setup procedure is a simple task that you may finish without difficulty. The best aspect is that you can choose the best location for your business and obtain a license there.
- Second, this license can be applied for at a reasonable cost. But a lot of this will depend on where you decide to set up shop—a free zone or the mainland, for example.
- Finally, the ability to apply for numerous visas is another fantastic benefit of holding this license. Not to mention, it enables business owners and investors to sponsor dependents.
If you ask for assistance from experts, applying for a general trading license in the UAE can be made much simpler. You can choose the location for your business and submit an application for this license at a reasonable cost via Shuraa Business Setup. Also, you can select from a variety of packages that include a range of components, such as visas, Flexi-desks, and more.
Also, you can get the advice and recommendations you need to make the best decisions. For instance, our experts can assist you in choosing the location for your business that is best. Following that, we will finish the company set-up process on your behalf, freeing you to concentrate on other crucial matters.