The Future of Business in Dubai Key Trends in Trade Licensing
Consistently ranked as one of the world’s best places to do business, and home to one of the fastest growing and most diverse economies in the world, the UAE is fast becoming a most popular destination for aspiring entrepreneurs to set up their companies.
Business owners in Dubai, UAE, and all other emirates are required to have the proper license to run their businesses. One of the most sought business licenses in Dubai, UAE is the trade license, which encompasses a wide range of business activities.
What is a Trade License in Dubai, UAE?
A business license in Dubai, UAE is a document that specifies the nature of business activities that a company is allowed to undertake, whether it’s commercial, industrial, or professional services.
A trade license is an official document issued by the Department of Economic Development (DED) or other relevant authorities, like a Dubai free zone or Sharjah Free Zone, that permits a company or an individual to conduct business activities within the UAE. It’s a legal requirement for all businesses to obtain a trade license before starting their operations.
Types of Trade Licenses in Dubai, UAE
For those who want to set up a company in Dubai, UAE, there are many types of trade licenses to choose from to operate the business. Here we introduce the four most common Dubai, UAE trade license types available for Free Zone companies:
- Commercial License for general trading businesses:
Based on the nature of trading activities, this license may have other classifications. This license is basically for companies engaged in trading activities. It allows for buying, selling, and distributing goods.
- Professional License for service-related businesses:
This license is specific to service-oriented individuals or firms providing professional services like consultancy, accounting, legal services, and healthcare.
- Industrial License for manufacturing goods:
This license is for businesses involved in manufacturing or industrial activities, and it permits the production, manufacturing, packaging, and exporting of goods.
- Tourism License for travel and tourism:
This license is designed for businesses operating in the tourism and travel sector, including travel agencies, tour operators, and related activities.
How to Get a Trade License in Dubai, UAE
To obtain your trade license in Dubai, UAE you need to complete the following steps:
1. Select your business activity
The first step to getting a business license in Dubai, UAE is to choose your business activities, you can select from a wide range of business activities and join several activities under your business license. SPC Free Zone offers more than 2000+ business activities, and you can combine up to 5 activities under one trade license.
2. Choose a trade name for your business
Choosing a trade name is crucial for setting up your company in Dubai, UAE, for brand presence and identity. As part of the business setup in Dubai, UAE, it is recommended to verify the name’s validity with the DED, Department of Economic Development, or the relevant free zone authority.
You also need to check the name’s compliance with trade name protocols and avoid duplication with registered names.
3. Choose your business location
Choosing a business location is an important step in setting up a company in Dubai, UAE. Many companies choose to set up business in UAE Free Zones as they are cost-effective, offer 100% foreign ownership, 100% profit repatriation, and tax incentives.
4. Submit your application and pay fees
You will need to submit your application form and provide several documents and paperwork. This step also involves paying the fees associated with your business license in Dubai, UAE.
5. Receive your license and open a business bank account
After completing the above steps successfully, expect to receive your business license shortly; as fast as 45 minutes if you choose to set up your business in UAE with SPC Free Zone.
Why choose SPC Free Zone?
SPC Free Zone offers a hassle-free and convenient business setup in the UAE. With a central location in the emirate of Sharjah, minutes away from major airports in the region, and immigration services on-site, you can receive your trade license in UAE in just 45 minutes. Choose from over 1,500 business activities, get up to 20 visas under one trade license, and enjoy special discounts with multi-year licenses. Expand your business with the dual-license option that offers both mainland and free zone on the same license.
Ready to launch your business in UAE? Get in touch with SPC Free Zone today.