Trade License in UAE – Types & Renewal
Tax free environment prompts several business owners and groups to establish their business across UAE. But most important step in setting up any business in Dubai or anywhere in UAE is to get the right trade license according to the nature and scope of work of the business.
Types of Trade Licenses UAE
There are different trade licenses available for different businesses in UAE. Companies can apply for any of the following licenses:
- Professional License – To provide professional services with specific jobs.
- Commercial or General Trade License – To do all types of trading business including exports, imports etc.
- Industrial License – To do manufacturing or industrial work.
- E-commerce license – To do online trading and selling of goods within UAE.
Apart from these, licenses for some categories of business require approval from certain ministries and other authorities.
- Banks and financial institutions from the Central Bank of the UAE.
- Insurance companies and related agencies from the Ministry of Economy and Commerce.
- Manufacturing from the Ministry of Finance and Industry.
- Pharmaceutical and medical products from the Ministry of Health.
- Hospital and Clinics from Dubai Health Authority
- Businesses engaged in oil or gas production and related industries require more detailed procedures.
- Education institution from KHDA or relevant authority in UAE.
Requirements to obtain Trade License in UAE
Before opening any business, one must follow below steps for obtaining a trade license in UAE.
- Decide the business category: – commercial, industrial, professional or E-commerce.
- Determine all the related business activities within each business license (Maximum 10 activities per license are allowed inter-related to each other).
- Prepare your business legal status in UAE.
- Select a company name.
- Submit an application to the Department of Economic Development for initial approval.
- Lease business premises and obtain approval from the concerned Authority.
- Prepare all required documents such as memorandum of association and approvals from other relevant UAE Government authorities.
Trade License Renewal UAE
All businesses operating in UAE, need to renew their Trade Licenses every year. The license must also agree with the rules of the government. This can increase businesses towards faster growth and greater revenues. Horizon Biz Consultancy offer complete assistance in renewing the trade license in whichever way you need.
Working with us, you will get benefit of our in-depth knowledge and extensive experience in the field. We are fully equipped to recommend the best possible options and ensure that your business is set up with minimal hassles and effort.
Contact us today for acquiring or renewing trade license for your business in UAE!