Variety of Business Licenses in Dubai
Dubai is a world of entrepreneurs and businessmen. It’s one of the most growing economies in the world. If you’re a newbie looking to set up a business, Dubai is the right place to be.
To start up any business in Dubai the main and foremost important thing is to obtain a Business license. This license will help the government authorities to regulate and control commercial activities.
So where can we get this important and precious key to own a business in Dubai? The DED, Department Of Economic Development, is a governing body that issues licenses for individuals and companies.
The various types of Business Licenses in Dubai are mentioned below:
Business Licenses in Dubai can be applied for depending on the industry, structure and as well as the region of the company.
Commercial License
Commercial License is one of the most popular types of trade licenses issued in Dubai. A commercial license allows you to trade, import and export products into, out, and throughout the UAE as well as sell some services. The most common form of the company used for operating under a commercial license is Dubai Limited Liability Company, which can be formed in mainland Dubai and any free zone in the Emirates.
Each free zone authority issues its own licenses is one of the unique aspects of starting a free zone company in Dubai. However, the commercial license is the same regardless of which special economic zone the company is registered in. Plus free zone company’s commercial license can only be used for trade activities inside the respective Dubai free zone.
The documentation process of applying for a commercial licence in Dubai requires an articulate way of handling deadlines and paperwork. Here’s a list of the necessary documents for registration of a commercial licence in Dubai.
The DED will issue a License based on the documents produced, The License is valid for a period of one year and can be renewed. A set of other documents have to be submitted if it has to be renewed.
Department of Economic Development (DED) approves various business activities under a commercial license. You can get the complete list of business activities allowed from the DED or Meydan Free Zone.
Below are just some of the activities permitted under a commercial license:
Steps to get your commercial license in Dubai
Getting a commercial license in Dubai is straightforward if you work with an experienced company formation specialist. Here are the four most important steps you need to take to get a commercial license for your company
Step 1 : Mainland or Freezone
There are many advantages to both. Free zones like IFZA and Meydan offer benefits such as a quick and easy incorporation process, ongoing business support and financial incentives such as tax exemptions and zero currency restrictions. There are several types of free zone licences available. Many free zones offer a range of license types including industrial, commercial and e-commerce and professional services.
On the mainland, you can also get a variety of licenses. Businesses on the mainland may deal directly with the UAE market and win lucrative government contracts. The appropriate jurisdiction for you will depend on the nature of your business. Our business consultant experts at Trade License Zone will manage all aspects of your company setup, all the business activities, complete all the required documents, and trade licenses for you to trade as soon as possible.he appropriate jurisdiction for you will depend on the nature of your business.
Step 2 : Choose your Company name
The business name must adhere to the UAE’s strict naming regulations. Business names cannot include any offensive or blasphemous language, nor any references to Allah or Islam. If you wish to include your name in your company name, you must use it in full rather than just your surname or initials. i.e. Dave Mann Consulting, rather than D Mann Consulting. You must also check that your chosen name is available to register.
Step 3 : License Application
After deciding on the name, activity, and site of operation, submit all the papers to DED for review. Company formation and licenses happen at the same time. The nature of your company and its activities dictates whether you can receive all the approvals you need from DED.
Once the relevant authorities have authorized your company’s activity, you can apply for a Memorandum of Association (MOA), an Incorporation Certificate, and other legal papers. After approval, you may also apply for visas, tenancy agreements, and labor cards. Along with your completed application form and business plan, you’ll also need to submit the following documentation to the DED:
- Proof of ID and address for directors and shareholders
- Passport copies for shareholders and directors
- Copy of company name confirmation
- Memorandum of Association (MOA)
- Articles of Association (AOA)
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