Before starting the process of business setup in Dubai – you will have to decide on the kind of license you want to get to run your business. The DED issues three kinds of licenses are – Commercial, Industrial, and Professional license. Here we discussing in-depth about the commercial license in Dubai. So, if you are looking to get such a license then you can consult with Start Any Business UAE who will surely guide you and help you in getting a business license in a dedicated manner. Below we mentioned some vital things and requirements that you will have to understand before applying for a commercial license.
This kind of license is granted to the people who are hold commercial trading activities. The difference between a general and commercial license is that a commercial trading license is more special in nature and covers limited products. the general trade license also does not cover all commodities or goods; certain products like software and automobiles can be traded with a commercial trading license.
Based on the number of stakeholders, a trade setup can be incorporated as an LLC. The minimum number of stakeholders is 1 and the maximum is at least 50 for a Limited Liability Company. The responsibility of the company has limited by its paid-up capital, and the liability of every stakeholder is limited to their financial participation in the company. A subsidiary company is one that is owned by another company and not a sole stakeholder.
The Process to Get a Commercial License in Dubai
First of all, you will have to decide on your company name. This can happen that the name you have decided has been already registered, hence the business setup consultants can help you to find a suitable name for your company. Then you can go ahead to establish your company under this trade name. This phase needs a company setup professional who can help you to make a draft of the Memorandum of Association and Article of Association and prepare all the documents and make them registered.
Once you set up your company, the next phase is to obtain a commercial license to run your company, you need to make the essential payment. The charge can be differed, based on the number of activities of the business comprised in the commercial license in Dubai for your formation and also on the kind of company you carried out. The rule of thumb is that the greater number of business partners, the more partners can be leading the more charges you will have to pay. Same as, holding more activities comprised in a commercial license also enhances the license cost.
come under commercial license
The activities that come under the commercial license in Dubai are given below –
- Import and export
- General store
- Plumbing and sanitary contracting
- Automobile trading
- Tanks and silos trading
- The TV station, Radio, cinema theater appliances maintenance, and installation
- Shoe trading
- General warehousing
- Cold storage
- Rental services
- Self-storage services
- Restaurant management
Once you decided on the business activities, you will have to select a trading name and need to register it. Then you will have to submit all the essential documents to the DED and the Federal Ministry of Economy to obtain your commercial license in the UAE.
Cost of commercial license in Dubai
The overall costs of a commercial license in Dubai, comprising the trade name, initial approval, and the issuance of such license is around AED 100,000, this cost is certain. Once you get it, the commercial license has benefits such as visas application, getting labor quotas, no corporate taxes, translation services, no income taxes, and a simplified financial reporting system.
If you are willing to get a commercial license in Dubai but unable to get it by yourself then no need to worry, we at Start Any Business UAE are here for you to cover all matters related to getting a business license. We focus on the details, as we know that this is little information that makes up the huge picture. Even when your company is set up, we constantly support and assist you by giving you affordable services.