The most widely used type of commercial license is the trade license, which refers to both the legal document and the agreement that designate most of the legal activities that are able to be carried out within the UAE. For those individuals who are planning on starting a business in Dubai, it is important to understand all the requirements that are needed in order to start a company in the UAE or even relocate to the UAE if you so wish. Most business activities in Dubai fall under two main areas – commercial and service, with regulation covering each in its own way. There are many legal professionals who can assist with the process of establishing a company or doing business in the UAE, including accountants, lawyers, and consultants.
Several Reasons:
There are several reasons why individuals would wish to relocate to the UAE, whether they are expatriates looking for a more tax-free lifestyle, working men and women who want to build a business in a new location, or corporate personnel who are relocating from a different country for tax reasons. However, one of the key benefits of doing business in Dubai is being able to trade without paying any kind of tax on any of your income earned there. This is because all types of commercial activity in Dubai is classified as non-domestic trading. Individuals who earn revenue from various kinds of commercial activities in Dubai do not have to pay any kind of income tax on that income.
All types of trading activities are required to have a UAE Trade License, which is issued by the Dubai Trade License Registry. A company that wishes to set up an office in Dubai can apply for a commercial license through the Dubai Trade License Registry. There are several types of licenses that an individual can obtain for personal use and business activity purposes. These include a fishing license, driving license, or a travel license. Each one has a slightly different set of regulations, but all are required before an individual can commence trading. There are different types of licenses that need to be obtained depending on the nature of the business activity you intend to perform.
Commercial license:
When you go to apply for a commercial license, you will first need to get yourself a copy of your passport and related documents. You can either bring these with you while traveling to Dubai or you can simply order them online and have them shipped to your local address. Once you have obtained your passport and related documents, you can then proceed to the Dubai commercial registry to register your company. The application process requires you to provide the details of your employees, your registration fee and a registration certificate. If your business is a large one, you may be required to pay a security deposit.
Once all the necessary documents are received at the Dubai commercial registry, you will be able to renew your trade license in Dubai. Renewing your trade license is usually done by paying a new installation fee. The installation fee is not applied for by businesses that will be starting up after the application has been completed. A new license can only be issued when there is a valid reason behind the expiration of your current license. Once you apply for a new license, you should submit an application to the concerned departments and present all the necessary documents.
Business license:
When your business license is renewable, you will need to submit new documents to the relevant departments. These documents may include your latest trade forecasts and statements or contracts. You will then be required to sign a tenancy contract and a lease agreement. All these documents are then verified by the Dubai Ministry of Economic affairs.
Another way of obtaining a Dubai trade license is through seeking help from a licensed UAE real estate agent. However, it is important to remember that agents are only allowed to offer advice based on their personal knowledge. It is also not advisable for investors to pay any fees in exchange for these services. If you are planning to obtain a property in Dubai, it is important that you first acquire all the necessary legal documents needed for the process. Once this is done, you can then choose between purchasing a property directly or renting one.
The next step is to fill out the trade license application form. This is followed by the submission of all the required documents. Once everything is submitted, it will be reviewed and then approved or rejected. If your documents are rejected, you have to resubmit them with the necessary amendments and a new application form. A successful application will then be approved and the license will be valid for a certain period of time.
