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Documents required to Get Trade License in Mainland

By Akshat - 04 Jan 2022 Last Updated: 05 Jan 2022
Documents required to Get Trade License in Mainland

An investor can launch his or her own firm on the UAE mainland. In order to start a business in the traditional sense, you must go through a series of stages, regulations, and approvals from the Economic Department and other government agencies. In the study further, we fill further discuss trade licenses, type of trade licenses, and the documents required to get a trade license in the mainland.

Every business in the country would have a different identity as a result of a trade business license. A business license is a document that certifies a company's legal status. Businesses are given trade licenses so that they can be held accountable for their operations in the area. It also organizes, categorizes, and keeps track of the firm's legal cases. A trade license is required if you want to legally trade as a company. With the usage of trade permits, the company would be run in compliance with the UAE's Commercial Firms Act. Obtaining a commercial license in Dubai allows you to conduct business legally and in accordance with regulatory authorities' requirements, as well as provide you with a number of advantages.

What is a Trade License?

Every company in the country operates within a legal framework that governs its operations. The start-up of a firm involves several formal procedures, such as choosing a business, producing relevant documentation, acquiring various permits, and so forth. Because business formation in Dubai is a well-organized process, each phase has its own significance. A firm must also have a trade license in order to function legally. A business license allows a company to operate lawfully while also assuring customers, suppliers, and vendors that it is legitimate and respects all rules and regulations.

 

Deciding the Type of Trade License

The nature of your business and its operations will define the sort of license you require. Regardless of whose license you choose, if you are familiar with the requirements for starting a business on the mainland, the application process is usually simple and quick.

The nature of your business and its operations will define the sort of license you require. Regardless of whose license you choose, if you are familiar with the requirements for starting a business on the mainland, the application process is usually simple and quick.

To summarize, professional services licenses are best for individuals who provide marketing or consulting services, commercial licenses are best for trade or import/export enterprises, and industrial licenses are best for those who work in the manufacturing industry.

What are the different types of Trade Licenses?

The Department of Economic Development (DED) in Dubai is responsible for providing company permits. The DED has assigned any corporation to one of many licenses, which gives them prominence based on their commercial operations. Commercial operations in the United Arab Emirates are classified into five groups. The most popular types of business licenses available in the UAE are shown below.

  • Commercial Licenses for General Trading Businesses
  • Professional Licenses for Service-Related Businesses
  • Industrial Licenses for Manufacturing Goods
  • Tourism Licenses for the Travel and Tours Industry are all available.

Commercial License

This license is available to companies engaged in any type of commercial trade activity; both ordinary and specialized merchants must receive the license in order to conduct business safely in Dubai. A UAE native owns 51 percent of the shares, while the expat owner owns the remaining 49 percent.

Professional License

Professional trade licenses are necessary for service-oriented firms on the mainland. 100% ownership is possible with a professional trade license, but the process must be completed by a local service agent. A professional license is required for management consultancies, law firms, marketing and design firms, auditing and accounting firms, and other businesses.

Industrial License

Companies that transform materials or natural resources into other end goods, or engage in any other type of manufacturing activity, are granted an industrial license in Dubai. A UAE native owns 51 percent of the shares, while the expat owner owns the remaining 49 percent.

Tourism License

The three sorts of licenses available in Dubai are travel agency license as an incoming tourism operator, travel agency license as an outward tourism operator, and travel agency license as a travel agent. Mainland with millions of visitors each year, Dubai is the most popular tourist destination on the planet. On the mainland, the economic department and the DTCM launched a tourist license to regulate the tourism industry. In the Mainland UAE, businesses such as travel brokers, tour operators, the hospitality industry, and others must get a tourist license.

Procedure to get a Trade License in Mainland

To apply for a trade license the investor must go through the process which is given below:

  • Identifying a business activity
  • Selecting an appropriate legal form
  • Registering the trade name
  • Applying for an initial approval
  • Drafting a Memorandum of Association and local service agent agreement
  • Select a business location
  • Get additional government approvals
  • Submit documents and pay fees

Documents required to Get a Trade License in Mainland

You will normally only need to provide a few facts and some basic documentation, whether you apply on your own or through a company formation agent, such as:

  • The application form filled out completely
  • A copy of the owner's passport
  • Two passport-size color photographs

To reserve a trade name for your firm, you must first apply to DED Dubai. If the firm name is available, permission will be granted. For the commercial operations you'll be performing with your Mainland trade license, you'll also need to apply for initial authorization.

Conclusion

Applying for a trade license is a complex process in the mainland. Connect with Dhanguard, our business setup team will gladly assist you through the process. The presence of a vast connection across the entities enables us to make the process hassle-free for you. Let Dhanguard help you in choosing the right type of license for your organization.

If you require any services related to business setup in the mainland. Connect with us, we will gladly assist you.

Dhanguard provides the business setup and company formation services in Dubai, UAE with the guidance of our professional team of consultants. Faster and hassle-free company setup in Mainland and Freezone in UAE.

Dhanguard provides faster and hassle-free Trade License with minimum paper work. With the guidance of our professional team of consultants you will get General trading license, Freelance license, Etrader license, Event Management License, Travel Agency license in Mainland and Freezone in UAE.

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