Dubai is home to more than 200 nationalities, and it holds the title of the world’s most cosmopolitan city. Dubai is not only a place to run a business but also to share ideas, experiences and inspiration in an environment that provides unique opportunities to create lasting legacies.
The city has become a global hub for financial services, logistics, hospitality and trading is steadily growing in other sectors including healthcare, technology and renewable energy. Dubai has become an ideal location for association conferences, corporate meetings, business events and exhibition. There are many businesspersons interested in trading of a variety of goods and commodities to various countries or within the country requires a general trading license to do the same.
A general trading license in UAE allows a company to export, re-export, import or trade different types of goods like foodstuff, clothes, furniture, electronics, electrical items under one roof. Initially, this types of license cost are high in the mainland, but in case a businessman who is doing different products/goods trading it is suggestible to go for a general trading license in UAE as they can enjoy all these facilities in one license and not mandatory to open separate licenses.
Trading of Alcohol, Medicine, Cars, Chemicals etc. cannot be done through a General Trading License in UAE, which requires special approvals from Concerned government authorities or municipality. However, these types of activities can be get approved from DED under commercial trade license.
The minimum capital requirement for setting up a Limited Liability Company (LLC) General Trading License in Dubai is AED 300,000/-. It is not mandatory to show a bank guarantee but require mentioning the same in the Memorandum of Association (MOA).
As per the Department of Economic Development (DED), Dubai a General Trading company can do the business of importing, trading and re-exporting of any of the allowed goods and, the activities that need special can be a sole establishment (100% ownership with UAE or GCC National) or it can be Limited Liability company (LLC) or it can be a Single Owner (LLC-SO).approvals, can also be traded upon obtaining NOC from the competent department. The activity code for this license is 4690018.
A general trading license in UAE during the first year the approximate government cost for setting up a general trading license in Dubai is AED 25,000/- and from second year onwards it will be around AED 15,000/-. This type of license can be a legal holding structure within the UAE and other licensing authorities. With this license, a businessperson can do storage and warehousing activity also.
Zero tax: No corporate or personal tax- In UAE there is no corporate tax or personal tax for doing any type of business. A businessperson who is holding a license in UAE doesn’t have to pay taxes on profits or income.
Hassle-free recruitment and unlimited availability of Employment visa. Companies do not have any restrictions on applying for an employment visa from the Ministry of Labour. The eligibility of the employment visa is based on the size of the office and selection of license activity. If you have a bigger office, then you can have more number of visas. The investor visa or employment visa holder can also sponsor spouse, parents, children and maid.
Limited restrictions on a minimum capital requirement: The Minimum capital requirement is only AED 300,000 and it is not mandatory to show the bank guarantee. It is not compulsory to deposit the share capital in the bank. Also, 100% of capital repatriation is allowed for UAE companies.
Easy process: The process of setting up a company in Dubai Mainland is a straight forward process and can complete the whole company incorporation process in 3-4 working days if all the documents are in place.
Very good Infrastructural facility: Availability of office spaces with flexible rent or lease plans with the best infrastructural facilities makes the businessmen happy to do business in Dubai.
Do Business anywhere: A Dubai mainland company can do business anywhere in UAE without any restrictions.
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