Dubai is popularly known as the business hub of the Middle East, mainly due to its strategic location. Over the past few decades, there has been an immense growth in the financial, business and trade sectors, due to which the country’s contribution towards the world economy is substantial. Because there is a huge market in Dubai for all types of products and services, many foreign investors are interested in starting up their business in Dubai.

Whether you want to use the tax-free incentives to re-export your product or take advantage of the wealthy local market of Dubai, it is essential to acquire a trading license. In order to export, import, manufacture or distribute any good in Dubai, the trading license is mandatory. There are different types of trading licenses available according to the nature of the product, but the most common among all is the general trade license in Dubai.

Although bit costlier, having the general trade license has its own benefits. But there are certain products like alcohol, medical products, vehicles, which cannot be permitted to be traded through this license as these products require approval from higher authorities. However, these products are traded under a commercial trade license in Dubai after going through the approval process.

Now, here are some reasons why you should apply for a general trade license in Dubai.

• National and international trade

By acquiring a general trading license, you can import or manufacture all the products mentioned in the license. You can either distribute these goods in the local market of Dubai or export or re-export in the country of your choice.

• Tax-Free

Where most countries imply heavy taxes on import, manufacturing and selling of various products, the UAE is almost free from all types of taxes. One of the benefits of having a general trade license in Dubai is paying zero taxes. You don’t have to pay taxes on profit, income or any other amount.

• Straightforward Process

The straightforward setup process is one key factor behind the popularity of the general trading license in Dubai. When compared to several other types of lengthy registration processes, this process takes around a week once you submit the necessary documents with the DED. After that, you can commence your business in Dubai.

• Apply for Multiple Visas

You can apply for multiple visas for your employees, once you get a general trade license. However, this factor depends on the office space.

As a foreign investor, you can also sponsor visas for dependents. But ensure that you get a professional’s advice before commencing since it is an essential process.

• A Large Number of Products

Except for a few specific goods with sensitive materials and restriction, almost all the products allowed in Dubai are registered under general trading license. You can trade a large number of products under a single license. You just have to pay the amount for this license once, and it will offer you benefits for years to come.

The most convenient way to apply for this license is by working with a well-known consultancy service firm. They can ensure the completion of the whole process smoothly and in a short period.