Get a General Trading License in Mainland Dubai?
Get a General Trading License in Mainland Dubai
Because of countless reasons, Dubai is popular as a trading hub in the world. It means that starting your trading business in Mainland Dubai may be lucrative. However, you need a General Trading License in Mainland because you cannot begin your trading business without this license. Today, we will explore ways to get a general trading license in Dubai. Plus, we will explore the benefits along with other essential aspects of general trading licenses in this article.
General Trading License – Overview
You need to acquire this license when you are a foreigner or want to open your general trading business in Mainland Dubai. Obtaining this license is an ideal option for investors like you looking to start a wholesale and retail company in Dubai Mainland.
Acquiring a general trading license is mandatory, especially when you intend to perform different trading activities. Even if your selected activities are wide across many sectors, a general trading license will cover those activities. This is because getting a general trading license is among the top steps to start your trading business in Mainland Dubai.
After obtaining a general trading license, you will be able to start your General Trading business in the Mainland Company. Plus, your business will also allowed to conduct all trading licenses mentioned in this trading license. Once you understand this essential aspect, you will make your general trading business a key player in the supply and trading sectors. It will provide companies across Dubai, the UAE, and other nations with essential products.
Benefits of starting your general trading business in Mainland Dubai
As you have understood in the previous section, obtaining a General Trading License in Dubai is crucial to conducting your general trading license in this city. Do you know that starting a general trading business can give you countless advantages? If not, you should take a look at the top benefits of starting your general trading license in Mainland Dubai:
- Local and international trade: By opening your general trading business with the general trading license, you can import, distribute, or manufacture all products mentioned in your general trading license. It indicates you can distribute these products in Dubai’s local market and import or export them to profitable nations.
- Low tax rates: You can also enjoy lower Corporate Tax rates by starting your general trading business in Mainland Dubai. You are only required to pay 9% Corporate Tax on your company’s earnings or revenue exceeding the threshold limit of AED 375,000*, which is comparatively lower than global standards. The low tax rate makes Dubai, UAE among the ideal locations or places to start a general trading business.
- Absence of trade barrier: Opening your general trading business incurs the lowest expenditure and time in Dubai. On top of that, you are reduced from paid-up share conditions and routine audits when you have a mainland license for your general trading business. All these factors boost your company’s affordability and profitability. Therefore, you will not face any barriers in Mainland Dubai.
- Trade several products: With a general trading license, you can trade several products, except those products that are restricted or sensitive material.
- Easy process to set up a business: Starting a general trading business process is straightforward. You can begin your general trading business in three to four working days if you have the right paperwork or documents. However, you can also boost the speed of setting up your general trading license and make the complete process easier by working with the Flyingcolour Business Setup.
Documents needed to obtain your general trading license
Before you dive into the process of obtaining the general trading license, you have to gather a few documents because they are essential for getting the general training license. We have outlined the common documents you need to acquire your general trading license:
- MoA
- Copy of passport of your general trading company’s shareholders of investors
- Fees payment receipt
- Name Approval letter from DED
- Business plan
- License Application
Apart from these documents, you might need to submit a few other documents for obtaining a General Trading License in Mainland Dubai. Therefore, we recommend you consult Flyingcolour Business Setup to get the complete list of documents for acquiring a General Trading License.
What are the steps to get the General Trading License in Mainland Dubai?
When you plan to get a General Trading License in Mainland Dubai, you should prepare yourself to follow some essential steps. The crucial steps you need to follow to get the General Trading License in Mainland Dubai are mentioned below:
1. Select the business activity
To select the business activities, you should research the market demand and consider other similar factors, like resources. Remember, your selected business activity will determine the license type and its fees. Therefore, you should choose wisely business activities based on your requirements.
2. Choose a business name
After selecting the appropriate business activity, you should choose a reliable and unique company or business name for your general trading business. Before choosing the right business name, you should be aware of the UAE naming guidelines and ensure the name adheres to these guidelines. Plus, you should send the name for initial approval.
3. Secure an office space
Next, you should secure a physical office space for your general trading business in Mainland Dubai. Here, you should consider renting or leasing an office space to lodge the storage of physical products. Apart from this, you should consider your specific needs for your general trading license to choose the perfect office space.
4. Get custom clearance
Lastly, you should get customs clearance to begin importing goods into the nation. To do this, you must get the import code from the customs authority and pay the required fees to the authority. Remember, you are allowed to register with any customs authority within the city to get the General Trading License in Mainland Dubai.
How can Flyingcolour Business Setup help you?
Getting a General Trading License in Mainland Dubai is among the top steps to start your general trading business. However, you must take care of countless aspects to acquire this license. A single mistake in applying for this license will destroy your chance to get this license. Flyingcolour Business Setup can help you ensure you didn’t commit any mistakes. Plus, our experts will guide you in obtaining a General Trading License and starting your general trading business in Mainland Dubai.
To learn more about the Get a General Trading License in Mainland Dubai, book a free consultation with one of the Flyingcolour team advisors.
Please note that this article was published on 15/07/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
