- November 28, 2021
- Posted by: DBS
- Category: Dubai Business Services
The general trading license in UAE is an important document for any business that wants to import or export goods. The general trading license also allows the company to trade domestically in the country, which makes it much easier when trying to grow your business. If you are interested in getting a general trading license in UAE, then this article will break down all of the details and requirements that go into acquiring one.
What is a General Trading License in UAE
The General Trading License is a business license that allows you to operate your own trading company. It covers all types of goods and commodities, including Dubai gold rates for residents as well as non-residents. A general trading license can be granted by any free zone authority or government agency in the UAE if one fulfills the criteria outlined on the official website.
This license is different from a commercial trading license, which allows you to operate your own firm in accordance with the UAE Commercial Companies Law. In order to apply for a General Trading License online, you must be an individual or corporate entity registered and operating within a free zone jurisdiction in the UAE. You should also have prior experience in trading.
How to Get a General Trading License in UAE
In order to get a General Trading License in UAE, you will need the following:
– Company Profile
– Memorandum and Articles of Association (M&A) for the company. If it is a branch or subsidiary, then you need to submit its certificate as well.
– Passport copy of the company owner. This person should be a UAE national or at least have been residing in UAE for more than six months before applying for a trading license. If he/she is not going to run this business himself, then you need to provide his passport as well and a certificate from the Ministry of Interior Affairs.
– Passport copy of the person who will be running this business. This needs to match with the information provided for the trading license owner or managing director. If he/she is not going to run this business himself, then you need his passport as well and a certificate from the Ministry of Interior Affairs that proves that he has been residing in UAE for more than six months.
– Company statutory documents (articles of association, memorandum and contracts). These need to be authenticated by the Ministry of Justice and then apostilled or notarized from the UAE embassy in your home country if you are a non-UAE national.
– Trade license issued for this category/activity by Dubai Municipality.
– Copy of the commercial registration with Dubai Chamber of Commerce and Industry.
– Licenses for this business activity were issued by the Department of Economic Development (DED). In case you deal in a limited category, then DED will only need to be provided with approval from the relevant municipality department or authority as well as a trade license copy from Dubai Municipality.
Documents Required for Applying for the License
- Application form for a license (Form A) filled and signed by the applicant
- Business registration certificate of the company, business name proof with official stamp and signature
- Proof of address such as passport or driving licence.
- Power of Attorney (Form D) signed by your client and company registration certificate.
- Passport copy of the applicant, with personal details and visa page
- For directors/partners of the company: passport copies duly attested by the Indian Embassy abroad or Home State Government, containing full name, date of birth, nationality, and address in English.
- If any foreign director or partner is also proposed to be included in the license, please provide a letter on the company’s official stamp paper from the respective country addressing their position and role in the company along with details of nationality.
Who Should Apply for a General Trading License in UAE
-Those who want to set up a full-fledged trading business in UAE.
-Individuals or companies that have an existing trade license but are looking for additional licensing options with different types of services, e.g., healthcare, telecommunications, etc.…
-Existing companies looking for an upgrade to their existing trade licenses.
-Those who are interested in setting up a new business but do not have the required experience or capital to fulfill one of our other licensing options (Free Zone, Offshore).
-Those who are looking to expand their business beyond one single trade license (i.e., the company only has a General Trading License).
-Traders, manufacturers, and suppliers of consumer goods in almost all categories, e.g., foodstuffs, beverages, building materials, machinery equipment etc…
-Individuals or companies that want to provide a variety of services, e.g., transportation, advertising, financial or telecommunication, etc…
-Individuals or companies that want to be part of the supply chain and supply goods and/or services to UAE’s free zones.
Benefits of Getting a General Trading License in UAE
The benefits of getting a General Trading License in the UAE are as follows:
- Allows you to trade goods and services without the need for a separate license.
- Prevents multiple filings with different authorities
- Quicker approval process compared to other licenses.
- Open Trade, No Restrictions on Entry or Exit Goods.
- Simplifies shipping and customs clearance
The UAE is one of the most business-friendly countries in the world. It’s no wonder that an increasing number of businesses are starting up or expanding their operations here to take advantage of all that this country has to offer.
Requirements to Get a General Trading License in UAE
In order to get a General Trading License in UAE, one must have an office in the country. In addition, for companies that do not hold a previous license or registration with another Emirate before applying for a new license, they will be required to open a branch of their company in Dubai, i.e., they need to provide proof of a physical location in Dubai.
In addition, they must provide a letter from their existing company or sponsor stating that the new entity will be under its umbrella and control.
- To get a General Trading License in UAE, the business must have an office address within one of these cities & areas.
- The company should also have at least two shareholders with experience in trading or related companies.
- Furthermore, applicants need to be able to provide proof that their financial situation is sound and they are financially capable of supporting all the expenses of the company.
- A detailed business plan is also needed to be presented by the applicant, which should indicate how they will run and manage their trading activities in UAE.
All these requirements need to be met before an application can get approved for a General Trading License in UAE. This license allows you to trade both within and outside of the UAE.
DBS Business Setup
Obtaining a general trading license in UAE is an important document for any business that wants to import or export goods. The general trading license also allows the company to trade domestically, which makes it much easier when trying to grow your business. Contact DBS Business Setup today if you’re interested in getting one of these licenses, and we can assist with preparing all the necessary documents so you can get started as soon as possible!
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