advisorsdubaibusines
1 post
Sep 17, 2022
11:09 PM
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A trade or business licence in Dubai is an official document approving your request of conducting desired business activities in the region, where your company is located; in this case, it would be in Dubai. Department of Economic Development (DED) has categorised all the economic activities majorly under three types of trade licences in the UAE - Professional, Commercial and Industrial. Apparently, no matter what jurisdiction you choose - Mainland or Free zone - you can’t place the foundational brick of your dream company in Dubai, UAE until you have a relevant trade licence. Now that you know that obtaining a trade licence is the first and foremost requirement for business setup in Dubai, let’s know the general steps you have to follow to complete the licencing process.
Know the category of your business
It is your intended activity that determines the type of licence. At this point, you want to choose the main business activity and adjacent business activities that are covered by just one trade licence.
Obtain the initial approval
You will be able to proceed with the trade licence application only if you have initial approval from DED. To receive one, you must submit couple of required documents
Propose an appropriate business name and get it approved
You must submit at least three names for your company for trade name registration with the pertinent departments after getting the initial approval. Do we need to mention the presented names must be available and in line with the UAE standards, the desired commercial activity and the legal form of the company to increase the chances of approval?
Rent or lease commercial premises and receive the tenancy documents
Your business in Dubai needs a physical presence and the licencing authorities need RERA-attested (visa Ejari system) lease documents to dispense the requested trade licence
Gather all the required documents & submit them with the licence application: In addition to the trade name approval certificate, lease documents collected so far, passport & visa copies of owners & partners, you also need to prepare several other documents including special approvals, MoA, etc. Once ready, all the supporting documents must be submitted along with the trade licence application. Wait for 5-10 working days after making payments and collect the licence after receiving the approval confirmation.
The trade licences in Dubai are usually granted for 1 year. The holder should request renewal at least 1 month before the expiration date.
Related Services: business setup in Duba, Dubai Trade License, LLC Company Formation in Dubai
Source: https://www.thepartyservicesweb.com/board/board_topic/3929364/5739240.htm
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