If you own a company to export, re-export, and import goods and products then you must have a General Trading License in Dubai. This is the most in-demand and widely used license in Dubai and across UAE. All this is because Dubai is emerging as the foremost business hub in the world. This is because of the popularity that it has gained among entrepreneurs. A license allows you to export, re-export, and import goods under one trading license. A general trading license differs from other licenses as it allows one to trade any commodities except some prohibited items. Contact the best Business License in UAE to know about the benefits of a general license.
What Makes General Trading License in Dubai different?
In order to do trading business in Dubai, one must have a general trading license. It helps to trade across multiple industries and different arrays of commodities. The agency responsible for issuing trade licenses is the Department of Economic Development. General trading means importing, trading, and re-exporting goods that are allowed by the UAE government. Some trading activities need approval from the government. The activities that don’t require permission are eligible for a general trading license. It is not restricted to any singular trade activity. To start a general trading company in UAE, you must have a General Trading License. To trade an individual commodity you require a trading license prescribed to that commodity. The cost of a General Trading License in Dubai is slightly costly. The cost is high because it allows trading different products under the same license. This gives a cost-effective solution. Let’s have a quick look at how General Trading License is different from other licenses,
- It allows a trading different range of products.
- Can trade across multiple industries.
- The cost of the license is comparatively higher.
Wide range of activities: A General Trading License allows a company to engage in a wide range of business activities, including trading in goods, commodities, and services. This means that companies with this type of license can conduct business in multiple industries and sectors.
Flexibility: A General Trading License offers a high degree of flexibility, as it allows a company to add or remove products or activities from their business portfolio without the need for additional licenses. This can be beneficial for companies that want to diversify their business operations over time.
No restrictions on ownership: Unlike other types of licenses in Dubai, such as professional or commercial licenses, a General Trading License has no restrictions on ownership. This means that foreign investors can own 100% of the company without the need for a local partner or sponsor.
Access to free zones: Companies with a General Trading License can operate within any of the free zones in Dubai, which offer a range of benefits such as tax exemptions, 100% foreign ownership, and simplified company registration procedures.
Potential for growth: With the ability to trade in a wide range of products and services, a company with a General Trading License has the potential for significant growth and expansion. This can be especially beneficial for companies that are looking to tap into new markets or explore new business opportunities.
Wide range of activities: A General Trading License allows a company to engage in a wide range of business activities, including trading in goods, commodities, and services. This means that companies with this type of license can conduct business in multiple industries and sectors.
Flexibility: A General Trading License offers a high degree of flexibility, as it allows a company to add or remove products or activities from their business portfolio without the need for additional licenses. This can be beneficial for companies that want to diversify their business operations over time.
No restrictions on ownership: Unlike other types of licenses in Dubai, such as professional or commercial licenses, a General Trading License has no restrictions on ownership. This means that foreign investors can own 100% of the company without the need for a local partner or sponsor.
Access to free zones: Companies with a General Trading License can operate within any of the free zones in Dubai, which offer a range of benefits such as tax exemptions, 100% foreign ownership, and simplified company registration procedures.
Potential for growth: With the ability to trade in a wide range of products and services, a company with a General Trading License has the potential for significant growth and expansion. This can be especially beneficial for companies that are looking to tap into new markets or explore new business opportunities.
The scope for business under a General Trading License is more, it includes import & export, retail store, online selling, trading different products, and medical products. To know more about Business Setup in UAE get in touch with United Business Formations.
Benefits of General Trading License in Dubai
- Get 100% ownership of your business.
- Trade license in one hour.
- Office space is not required to get license.
- 100% capital and profits.
- You can become a vendor on e-commerce platforms like Amazon and noon.
- One license can be used for multiple activities or products.
- Can do business without any restriction.
- Versatility-With a General Trading License, a business can import, export, and trade in a variety of goods.
Why United Business Formations?
For many good reasons getting a General Trading License in Dubai is most popular in the UAE. Always reach out to the right people to get correct advice and support for your company formation and getting Business License in UAE. at United Business Formations we have expert advisors to help you in getting all types of licenses. Contact us to get your license, we ensure you satisfactory service.
