General · September 20, 2022

How to land a Trading License in Dubai

Forex Trading

Dubai, the world’s most cosmopolitan city, is a great site for company startups because of the remarkable people and ideas that thrive there. Business owners considering setting up shop in Dubai should familiarise themselves with the costs associated with obtaining import and export licences from the Dubai government. As a result of the city’s rise to prominence as a centre for finance, logistics, tourism, and trade, a large number of people from all over the world visit in search of opportunities to buy and sell a wide range of products. That can’t happen without first obtaining a trade licence, which is a must if you want to open a shop in Dubai. Let’s take a look at a few key points concerning trade licences before we get into the specifics of Dubai’s import-export licencing prices.

When doing business in Dubai or the United Arab Emirates, why do you need a special licence?
With a valid trading licence in Dubai, a business is authorised to engage in international commerce of commodities such as clothing, electronics, food, and more. Even though the costs of obtaining an import-export licence in Dubai are exorbitant in comparison to the rest of the country, entrepreneurs looking to engage in cross-border commerce in the United Arab Emirates can apply for a general trading licence. All the amenities are included in the one fee, and additional licences are not required.

Under UAE law, a general trading licence cannot be used to engage in the trade of alcoholic beverages, pharmaceuticals, motor vehicles, chemicals, etc. The relevant governing bodies must provide their consent. Nonetheless, DED may provide permission for such enterprise operations if a commercial trade licence application is submitted.

To what extent are there different kinds of business licences?

The Department of Economic Development (DED) offers four primary business licences:

Business Permissions

Companies in Dubai need a commercial licence to engage in commercial operations like purchasing and selling. This firm is only authorised to carry out the functions for which it has been granted a licence.

Authority To Practice

Professions and service providers are the ones that receive this certification. The most notable perk of this licence is that it does not need the involvement of a local sponsor. A whole share of the business will be transferred to you.

Validation of Industrial Use

Manufacturing goods, importing the components needed to make those goods, and shipping those goods to customers abroad all require an industrial licence. Getting a manufacturing licence in Dubai requires setting a shop there.

Acquiring a Travel Permit

Those operating in the tourism industry are required to get a tourist licence. Tourism businesses must adhere to a unique set of laws, rules, taxes, and other requirements.

Find Out Here How to Quickly Acquire a Dubai Business License!

You may now obtain a business or professional licence in the United Arab Emirates in as little as 5 minutes thanks to a government programme. Instant licencing streamlines the process of obtaining a commercial licence on the Dubai mainland, making it more accessible to enterprises. No MoA or lease is necessary for the first year. These documents are only required to be submitted once each year, when you renew your business licence. In Dubai, only limited liability companies, single-member LLCs, sole proprietorships, and civil businesses are eligible to apply for a temporary business licence.

I need to know if a Dubai business licence needs to be renewed every year?

Every year you’ll need to renew your business licence. Unless you renew your licence within its legal time, you will be unable to carry on business as usual. Penalty fees are assessed when a lapsed business licence is renewed. If you want to renew your licence on time, follow the procedures outlined below.

Lease Agreement

A written rental agreement is required. It needs to be valid for at least one month past the day your Trade License is set to expire. Lease terms must be in effect for the minimum time period specified. If not, you should renew it immediately.

Form for Requesting a License Renewal

To renew your permit, fill out the paperwork and send it to the DED (Department of Economic Development). Simple as that, all we ask for are the listed papers.

  • Word document with a completed BR/1 form
  • A duplicate of the lease agreement
  • Evidence that you are currently authorised to conduct business, such as a copy of your licence.
  • A photocopy of each investor’s or partner’s passport
  • Start the Money Transfer

If your provided documents are verified as genuine, DED will send you an email including a payment link. Your licence renewal will be processed immediately upon receipt of payment.

What Does It Cost to Renew a Business Permit?

In order to operate legally and freely, businesses must always be in possession of a current business licence. If a company’s business licence expires for whatever reason, the company will be subject to financial and other sanctions. In Dubai, the price range for renewing an LLC licence is between AED 8,000 and AED 15,000.

Keep in mind that the fee for renewing a business licence will vary depending on the kind of company. As a result, you should contact Shuraa Business Setup. We’ll help you get a commercial licence for your company at a cheap rate and handle renewals as well.

How much are the fees to import and export in Dubai?

Import and export licencing costs in Dubai are industry specific. Costs range around from 15,000 to 25,000 UAE Dirhams. There are several variables that affect the price of a business licence, including the type of business, the number of partners, the region in which the business operates, the location of the business, the financial backing of the firm, the sponsors, the type of business, etc. Your company’s actual Dubai import-export licencing costs may only be estimated after taking into account all relevant aspects.

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