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TRADE LICENSES

TYPES OF TRADE LICENSES AND HOW TO GET THEM IN UAE

The permission to do business in the UAE is given by the economic development authority department. The same department issues Trade license in Dubai, UAE. At the same time, concerns of other ministries are required for certain other categories of business. Registration with the chamber of commerce and industry is important for commercial and industrial businesses. To stay updated it is mandatory to renew the business license in Dubai, annually. Renewing before the due date is also necessary to avoid penalties due to late renewals.

Various types of trade licenses are:-

• Commercial licenses- include all kinds of trading activities. Entrepreneurs who are merchants, traders, dealers, suppliers, etc belong to this category.

• Professional licenses –are required to have academic achievements and knowledgeable skills belonging to professions, services, craftsmen and artisans.

• Industrial licenses -for establishing industrial or manufacturing activities. Doing business activities such as manufacturing of materials and products in industries.

The requirements for getting a trade license in Dubai are:-

• For the office space and ejari, tenancy contracts are required, along with an NOC from the sponsor of the company.

• The business partners should take copies of the residency visa, including the copies of the passport of the business partners and managers.

• The important point to be included is the presence of one of the business partners during the process.

• Other requirements are external approvals and the initial approval from the DED.

For each business, the license varies. There are certain factors to be considered in order to reach a conclusion.

• Your chosen industry

• Business activity

• The region you choose.

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