Business in Dubai creates demand for goods and services that companies produce. These companies need to move investment from the financial sector to manufacturing, thus creating new jobs and economic strength. The economic vision of Dubai aims to achieve sustainable growth through a robust private sector.
While considering starting a business, the commercial licensing process, in particular, is a challenge. So, consulting a professional expert would help you with the necessary steps to obtain a commercial license in Dubai-UAE.
What is a Commercial License?
A commercial license allows one to run a business. It's one of the few licenses for trading goods and selling certain services. Commercial licenses will enable the holder to trade in nearly every form of interest you can think of, from jewelry to packaging, food, and technology, and sell many different types of services in various industries.
Benefits of Obtaining a Commercial License Dubai
As a business professional in UAE, obtaining a commercial license has several benefits. Your business may be growing, and you are planning to expand your operations, so it might be the right time to consider a commercial license. Let's take a look at some of the exciting benefits:
- A large number of products
- Simple process
- Easy sponsor to dependents
- Local and international trade
Business Activities Come Under a Commercial Trade License
Below are just some of the activities allowed under a commercial license:
- General store
- Automobile trading
- General warehousing
- Self-storage services
- Rental services
- Restaurant management
A complete list of permitted commercial business activities can be obtained from the Department of Economic Development (DED) or a company setup specialist.
Steps for Obtaining a Commercial License
Here are a few procedures one must follow to obtain a commercial license in Dubai:
Select Your Business Activities
Choosing the business operations, you wish to carry out is the first stage. However, you can review the activity list and seek advice from a business expert if you are unclear about which activities to choose.
Select Your Company Structure
There are many different company structures from which to pick. However, Limited Liability Companies, General Partnerships, and Sole Proprietorships are the most common in Dubai.
Moreover, when it comes to the free zone, they have different legal entities. So, to get a clear idea, go through the types of legal entities in Dubai-UAE.
Find a Trading Name
After selecting the business structure, you need to trademark a name for your business. While choosing the name, you should be aware of the naming criteria.
Obtain the Initial Approval
After settling on the necessities, you must complete an application form to get the Department of Economic Development in Dubai's initial permission. In the case of doing business in the free zone, you should get approvals from the respective free zone authority.
Select an Office Space
In Dubai, you must rent office space for your company. However, if your company doesn't need a physical location, you might choose virtual office space in Dubai.
Submit the Papers and Pay the Fees
The last step is submitting the mandated documents and completing the voucher payment. After that, the respective authority will provide the commercial trade license within a few days.
Required Paperwork for a Dubai Economy Commercial License
Whether forming your application yourself or through a company formation agent, the necessary thing is to provide a few details and essential documents:
- Completed application form
- Two colour passport-size photos
- Passport copy of the proposed owner or owners
I hope these insights can help you when you rent out commercial property or real estate in Dubai. Moreover, if you want to start a business in Dubai, you can glance at the company formation in Dubai.
Why Choose Us
If you're an entrepreneur, investor, business owner, or a well-established company planning to start or expand your business operations in Dubai, get assistance from Business Setup Worldwide. Our experienced professionals can assist you in business incorporation, getting approvals, licenses, and permits in Dubai. So, feel free to contact us and build your destiny today.