If you’re a new-age investor or entrepreneur looking to launch a general trading company, then the UAE is the ideal business location for you. The tax-free laws, supportive government, hassle-free resource availability, are just a few of the many benefits business owners enjoy in the country.
The activities under a general trading license in Dubai include import-export of various commodities, furniture, electronics, jewelry, etc., and you choose them as per your business requirements. You can check out the Dubai economic department trade license activity list to know about the various permissible business activities in the UAE. You can connect with the business consultants at Shuraa to get started with your general trading company in Emirates.
Which business activities are permissible under a general trading license?
The Dubai economic department trade license activity list holds various business activities permissible under a general trading license. Here, we list down the key activities you can carry out in the UAE via this license:
1. Import and export of goods and commodities
You can carry out hassle-free goods and commodities trading in the UAE, thanks to the robust mechanism and supreme transport facilities. You can deal in foodstuff, ornaments, electronic gadgets, accessories, beautification products, and more if you possess a general trading license. However, note that pharmaceutical drugs, automotive, alcohol, etc., don’t come under this license, and you need to obtain external approvals for them. Furthermore, don’t forget to get customs clearance alongside your trading license to enjoy risk-free business functioning in Emirates.
2. Grocery store
You can launch a grocery store in Dubai and sell various food products, small items, and other edibles when you have this license. It’s better to formulate the business framework including the investment plan, reserve funds, inventory, etc., beforehand to avoid last-minute hiccups. Next, you should reserve a trading name for your grocery store and obtain the initial approval that you’ll need to acquire the general trading license. The activities under a general trading license in Dubai for such a store include the trading and selling of various grocery-related products.
3. Retail shops
Retail stores are spread all across Dubai and the UAE. Be it breweries, jewelry outlets, or general accessory stores – all offer premium products and services. All you need to do is obtain a general trading license, and you can also become a part of the UAE’s retail economy. You can procure a rental shop in Dubai, load it with the desired inventory, get the license, and you’re all set to get started with your business activities. The best part is that you can also enjoy 100% shareholding of your company if you choose to set up your retail venture in any of the free trading zones in the UAE.
Companies planning to carry out any of the above-mentioned business activities need to secure a general trading license in Dubai. Here’s a stepwise summary of how you can obtain this license:
1. Finalize the company’s structure and activities
Do you have a list that comprises all the business activities that you wish to carry out in Dubai’s marketplace? If not, list them down and check with the list maintained by the Dubai economic department trade license activity list or the concerned economic department. You’ll need to apply for additional approvals in case some of the desired activities aren’t mentioned in the list. Moreover, you also need to finalize your company’s structure. It can be a sole proprietorship, limited liability company (LLC), joint venture, etc., based on your business model and requirements.
2. Trade name reservation
Enterprises must reserve a legal and unique trading name for their ventures in the UAE. The name should not be a gimmick of any other existing brand and shouldn’t include any reference to gods. Furthermore, ensure that your business name doesn’t include any demeaning terms or words that hurt the sentiments or beliefs of a community. Moreover, use the full name of a person (and not any nickname) if you wish to keep it as your company’s official name.
3. Get an office space
Be it a serviced office space or a virtual office workplace – all companies need to have an official address in the UAE. All the legal documents and certificates are issued at your professional address, so you can face compliance issues if you don’t have one. It’s better to rent an office space in Dubai instead of buying real estate because it requires a hefty initial investment that might not be feasible for small businesses and startups.
4. Obtain the general trading license
Once you’re done with the above steps, it’s time to apply for your general trading license. Ensure that you also have the initial approval before applying for this license. You should get in touch with the legal advisors at Shuraa to obtain your license as we provide end-to-end business assistance by doing all the heavy lifting for you. Keep all the required documents handy and make the payments within the specified timeframe to get the general trading license in quick time.
5. Manage visas and open a bank account
You need to manage visas for yourself and your family during your stay in Emirates. The government has a well-defined process for it, and the best part is that you can obtain visa permits for your domestic staff too. Furthermore, ensure that you open a corporate bank account for your company in a bank that offers long-term benefits and reliable banking services.
All companies in the UAE must comply with the paperwork requirements established by the governing bodies. Here’s a curated list of documents you’ll need to obtain a general trading license in Dubai:
- Passport copies of all the partners in the company
- Passport size photographs of the applicant in compliance with the photography protocols
- MoA and LSA agreements
- Trade name approval letter issued by the concerned authority
- Office/warehouse tenancy contract alongside a detailed location plan
- NOC letter from your current sponsor
Consult with Shuraa
There are various activities under a general trading license in Dubai. Therefore, you need to be smart with your choice, and you’ll be able to cover all the desired activities under your license and enjoy hassle-free business functioning in the UAE. We, at Shuraa Business Setup, make company setup and formation easier for you. Therefore, if you’re looking to launch a general trading venture in Dubai, all you need to do is collaborate with us. Our business experts take care of documentation, licensing, banking, and everything needed to set up your dream venture in the UAE. Get in touch with Shuraa today!