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Commercial Trade Licence
This type of License is issued to those who are into commercial trading. The difference between a General Trading License and a Commercial Trade License is that a Commercial Trade License is more specific in nature and covers a limited number of products. The General Trading License also doesn’t cover all goods and/or commodities; some items such as automobiles and software can be traded only with a Commercial Trade License.
As of 1st June 2021, Dubai Economy now allows 100% foreign ownership for some 1,000 designated commercial activities. Prior to this date, any company established on the mainland had to have 51% of the company’s shareholding owned by a Local Partner. The Local Partner had to be an Emirati (this is the term used to refer to citizens of the UAE) or another company incorporated in the United Arab Emirates which was 100% owned by Emiratis. The rule is still very much in existence for companies that are into commercial activities not mentioned by Dubai Economy. So it is recommended that you check with an experienced business setup consultant to determine if the commercial license in dubai activity proposed to be undertaken by your company is on the list or not.
Mainland Company
Activities Covered by Commercial Trade License
Some of the activities that require a Commercial Trade License in the United Arab Emirates are as follows
- Automobiles
- Computer Systems and Communication Equipment
- Contracting
- Foodstuffs
- Furniture
- Medical and Surgical Equipment
- Readymade Garments
- Software
Advantages of Commercial Trade License
- You can undertake up to ten allied commercial activities with a single Commercial Trade License
- You are allowed to fully repatriate your capital and profits
- You can hire as many foreign workers as you want, as long as you have the commercial space to employ them
- You can import items from abroad and/or export them overseas
How to Get a Commercial Trade License in Dubai
Once you have established your company, the next step is to get a Dubai Commercial License for your company, paying the requisite fees. The fees vary, depending on the number of business activities included in the Commercial Trade License for your establishment and also on the type of company. The rule of thumb is that the higher the number of business partners, the more will be the fees payable. Similarly, having more activities included in the Commercial Trade License also increases the cost of the License. So there are no hard and fast answers to how much a Commercial Trade License costs in Dubai or elsewhere in the United Arab Emirates. The fees also vary by emirate, and a business setup consultant can help you determine the exact costs of getting a Commercial Trade License for the intended business activity by your proposed company.
Which is the best Business Setup Consultant in Dubai, UAE?
The best business setup consultant in Dubai listens to you and your needs, advising you on company formation. At A&A Associate LLC, we work closely with our in-house team of legal experts and company formation in dubai to ensure that everything is done just the way it should be. We pay extreme attention to detail, because we know that it is the small details that make up the larger picture. Even after your company has been established, we continue to support you and your journey by offering you cost-effective bookkeeping, accounting, and audit solutions. This way, you can focus on what you do best – running your business.
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