How to get your general trading license in Dubai
Dubai is one of the richest places, not just in the United Arab Emirates, but also globally. It is also one of the best places to do business for companies positioning themselves for international business.
That’s because, its strategic location makes it a hub that connects commercial interests from Asia, Europe, Africa, and beyond. Dubai also has a friendly business environment, and is one of the most technologically progressive cities in the world.
However, to do business in Dubai, there are several requirements that one must fulfill, and one of them is to obtain a general trading license. For an investor looking to set up shop in this city, here is how to get your general trading license in Dubai.
1. Pick a business activity
Different businesses in Dubai are governed by different sets of regulations. As such, when applying for a general trading license, one of the things you need to do is pick a business activity and indicate it in the application.
For any serious businessperson, this should not be a problem. That’s because, by the time you are ready to set up shop in an international city like Dubai, you must have a clear idea of what you want to do.
Besides, the law allows you to pick multiple business activities. Just make sure to pick something that you intend to do. Otherwise, you will invalidate your license.
2. Choose a company name
The second step to getting a general trading license in Dubai is to come up with a business name. Just like every other part of the world, you need to be creative when choosing a business name. The name needs to reflect the nature of your business, and should be memorable for purposes of brand building.
On top of that, Dubai authorities require the name to be religiously tolerant. Blasphemous company names are not allowed, considering that the UAE is a very conservative society.
Also ensure that your business name does not closely resemble that of other companies, as it will not be approved for you to get your license.
3. Apply for the license
Once you have met the above requirements, it is time for you to apply for a license. Applying for a license is quite straightforward. If you want to open your business on the mainland, then the procedure is to apply via the Department of Economic Development (DED).
However, if you want to do business in the duty-free zone, then you will have to apply for a license through a government authority of the free zone that you have chosen for your business. Whatever the case, it is a very straightforward process.
However, for a foreign businessperson, it may be a challenge. That’s because, you may not be aware of all the laws, and the documents needed for you to get a license. To avoid this challenge, engage the services of an expert that is specialized in Dubai business registration.
The process will be faster, and you will be sure that at the end of the process, you are compliant with the law. A quick internet search for general trading license Dubai should give you some of the best companies for the job.