Your business can get new ways to flourish in UAE. It’s really not that hard to start a business here. Actually, licensing is simple as you can imagine. The most important thing is it must be legal and ethical. In this write-up, we will know about How to obtain your trade license in UAE.
Categories of Trade License
There are different types of licenses available in the UAE. You should decide your business type. Here in UAE, it’s very important to decide what you want to do. There are lots of options. Either you can start your own business, or you can look for a job. However, three common categories are:
- Industrial License
- Professional services license
- Commercial License
After obtaining one category, you can not start another type of business all of sudden. So, let’s know some more about the mentioned categories below.
The Industrial license in UAE
Are you are planning to establish an industry?
Actually, this type of license is good for you if you have an industrialist mind. In fact, not only for planning but also for manufacturing or production, this type is suitable for you. Industrial license is mandatory for the following factories too.
- Natural resources extraction factory (like oil or gas extraction, mineral ore extraction factory,
- Government-owned factories
- Factories consist of 10 employees etc.
Therefore, you have to go through the mentioned categories.
Eligibility for Getting an Industrial license
There is some eligibility for getting an industrial license. One of those is nationality. You have to be a citizen of the UAE.
Facilities of Industrial License
- It creates new business opportunities
- Safeguards revenue transaction
- Most importantly, it attracts investors as well as clients
- Access to a robust e-governance system
How to Obtain Your Trade license in UAE: Professional Services license in UAE
UAE is an excellent place for entrepreneurs. As a matter of fact, Marketing and consultancy are Popular Professional services here. The nature of this type of service is like running a business by a sole person or a group of people. However, It can be a partnership business too.
Eligibility of Getting Professional Services license
Let’s know about some eligibility are listed below regarding professional services license–
- Local sponsor from UAE
- The local business partner (who owns a minimum of 51% share)
- Copies of the passport of owners or investors
- No Objection Certificate (NOC) from the local sponsors
- Approval documents from the relevant government authorities.
Facilities of Professional Services license
Here you will get some of the facilities after obtaining a professional services license. Your corporate tax is zero. Besides, No personal income tax facility exists. Moreover, currency restriction is not imposed. Additionally, you will get permission to establish a business in a comfortable location.
Isn’t it great!!!
About Commercial License in UAE
A commercial license is the most valuable license in UAE. If your business is all about trading, a commercial license is required.
Eligibility of Getting a commercial Services license
Your business must be involved in the trading, exporting, and importing of goods. Moreover, Real estate and brokerage services are also included in this.
Benefits of Commercial Services license
Surprisingly, this license is cost-effective. Besides, its incorporation process is easy. Moreover, you will get tax exemptions along with no currency restrictions.
Some Common Steps for Getting a Trade License in UAE
- First, decide the type of business.
- Secondly, decide whether to set up in a free zone or on the mainland.
- Thirdly, choose a company name. Now, you can apply for your license at DED(Department of Economic Development) in UAE. For example, if you want to start your consultancy firm, you must put a name on it then choose a location and apply.
For fees-related issues and more about UAE business, you can visit invest in Dubai. Obtaining a trade license means getting vast opportunities in UAE. Above all, rules are rules.
In Conclusion, Every year thousands of businesses are registered in UAE. Trade licenses are mandatory for all of them. However, the government of UAE is very liberal in giving trade licenses but they are very strict with their rules.
I hope, you have enjoyed this lot with this write-up. To know more about UAE business and offers you can visit here: https://usedpanda.com/.
