Dubai provides a lot of trading opportunities to investors because of its strategic location and connectivity to serve global markets. It is a global business hub with favorable taxation policies and regulations to start a new business. Investors can set up any kind of general trading activities for maximum returns from their valuable investment in the UAE.

Out of many trading opportunities, starting a general trading company in Dubai is a more valuable investment. Investors can easily get a general trade license in Dubai to start a new business in various sectors like textile, furniture, electronics, accessories, toys, cosmetics, etc. A general trading license in Dubai allows to conduct import and export activities but it doesn’t cover the trading of certain products such as cars, alcohol, medical goods, and guns.

To get a general trading license in Dubai and start a new company, investors need to follow a tailored procedure to set up business operations legally. Here’s is a step-by-step guide on how to get your general trade license in Dubai:

Create a business plan

The first thing you should decide is your business plan and what kind of trading activities you want to operate. To apply for your general trade license in Dubai, you are required to formulate a full-fledged business plan covering all the aspects including:

• Market Dynamics and Competition
• Products and activities
• Office space requirement
• Total number of employees
• Initial investment
• Sponsors
• Marketing tactics
• SWOT analysis

Choose an appropriate location

Once you are ready with your business plan, you need to decide on the right jurisdiction and business location to set up your general trading company in Dubai. You can register your new business as a free zone company, offshore company, and mainland company for different kinds of activities and operations. Free zone and offshore businesses are not allowed to conduct trading activities in Dubai mainland. With a mainland company, you can operate your business in mainland UAE but will need a local sponsor to register your mainland business in Dubai.

Complete all legal formalities 

You need to apply for the initial approval for your general trading license after completing all the legal formalities. It is important to carry out all the business activities legally. Here’re the few things that you need to complete before your application:

• Decide your company name as per laws
• Decide on trading activities you want to include in your application to operate under your general trading license. You can add up to 10 activities to your application. 
• Fill the application for initial approval from DED
• You may require to get external approval depending on your chosen business activities. 
• Prepare all your documents such as Memorandum of Association (MOA), an approval letter from DED, and passport copies of all the partners for your application. 
• Choose your business location and obtain a tenancy contract attested by Ejari.
• Submit your final application to the authorities for license approval.
• Pay the requisite payment for the issuance of your general trading license.

The authorities will check and verify your application and documents before issuing your general trading license. After approval, your trade name will be added to the commercial registry. After this, the Department of Economic Development (DED) will forward your application to the Federal Ministry of Economy for issuance of an approval letter.

If you want to get deeper insights into General Trade License in Dubai and its approval process, Socialite Consultancy Services provides complete support and assistance to investors who want to set up a general trading company in Dubai. Our expert business consultants help them complete all legal formalities and submit their applications through a tailored process. Contact us for more details and ease of license approval process.