How to apply and obtain a new trade license in Dubai?

How to apply and obtain a new trade license in Dubai?

What is a trade license?

The customer wanted the service to obtain an officially approved document that allows him to conduct business activities in the emirate legally. Then How to apply and obtain a new trade license?

Customers can issue a memorandum of association or a service agent contract during this service according to the legal form that was previously approved in the initial approval.

Why trade license is required in Dubai / Who can apply?

  • To operate, financial institutions in the UAE must first receive permission from the Central Bank there.
  • For the insurance-related activity, it needs approval from the Ministry of economy and commerce.
  • The Ministry of Finance and Industry must grant approval to manufacturing companies before they can operate.
  • The Ministry of Health has to approve medical and pharmaceutical enterprises.
  • For educational related activities, it requires approval of knowledge and human development authority.
  • For food business, it needs approval from the Food Department of Municipality

Benefits of applying for a trade license (How to apply and obtain a new trade license)

Few benefits you will get after obtaining a trade license:

  1. It’s easy to get the opportunity to manufacture or import goods.
  2. It establishes its credibility and earns the trust of its clients.
  3. You will enjoy tax benefits.
  4. Moreover, very few trade restrictions.
  5. It’s easy to get a license without a hassle.
  6. Sponsoring dependents is simple when applying for a business license in Dubai. Consequently, it’s possible to invite members of your family or staff to Dubai.

Documents required

  • Filling out a trade license application is one of the first steps. Each and every one of the company’s executives will be required to sign the document.
  • Secondly, create an MOA With the help of a legal representative.
  • Ensure that your application includes a copy of the firm name approval.
  • After the DED accepts your business name, they will provide you with this approval.
  • Tenancy agreement.
  • At last, submit all the copies of the passport.

Where to apply trade license in Dubai?

You can apply either through the Department of Economic Development (DED) or the municipality of the emirate that you are setting up in.

Step by step procedure to obtain a trade license in Dubai

  • Determine and select a local sponsor for your company. Decide in advance how much assistance you’ll need from a local sponsor.
  • To get your business name and activity approved by the Department of Economic Development (DED), fill out an application.
  • For this reason, search for an office site and finalize a rental agreement.
  • Create a Memorandum of Association (MOA) with your sponsor
  • Bring the essential legal documents and a business license application to the DED.
  • Add the partner’s details (partners, managers, and local service agent if any) such as addresses, contact information, identification numbers (Emirates ID number, passport or unified number), tasks in the company, and ownership shares.
  • Pay via one of the available payment methods
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