General Trading License in Dubai
5 Amazing Advantages of Getting a General Trading License in Dubai
There is no doubt about the fact that doing business in Dubai is a lucrative proposition. In Dubai, like everywhere else in the world, you need to get a trading license. Now, there are a number of options available to you when it comes to trading license. One of the best options is to go for a general trading license in Dubai. So, what are the advantages of applying for a general trading license and why are people rushing to get it? Here, we are going to take a look at five of the biggest advantages of getting a General Trading License in Dubai.
What is a General Trading License in Dubai?
If you have a company based in Dubai, and you are looking to export, import or trade goods or products like clothes, accessories, electronics, etc., then you can apply for a general trading license in Dubai. A Dubai general trading license is essential for getting involved in import and export in the UAE.
The General Trading License in Dubai covers multiple trading activities that are in the same or even in different industries. Getting the license might be expensive, but having this license has its own advantages. You must note that there are certain products, like guns, cars, alcohol and medical products, which cannot be traded even if you have general trade license. Trading in these products require approval from higher authorities or clearances from UAE government. However, those products can be traded if you have a commercial trade license.
The Advantages of Getting a General Trading License in Dubai
The cost of getting a general trading license in the UAE is around AED 30,000 to AED 40,000. The cost depends upon several factors. A general trading license in Dubai can also be used as a legal holding structure within the UAE and other licensing authorities. You can also use it for storage and warehousing.
The advantages of having a general trading license in the UAE include:
No Taxes: One of the most attractive advantages of having a general trading license in Dubai is that you have to pay zero taxes. You don’t have to pay taxes on profits, income or on any other amount.
You can trade locally and internationally: When you have general trading license in Dubai, you can trade beyond borders. You would have complete freedom of doing a business in local, national and international markets and gain profits.
Simple Application Process: It is actually quite easy to get a general trading license in Dubai. It is issued by the Department of Economic Development (DED) in Dubai. It is interesting to note that, applying for a general trade license is easier than setting up a company in the Dubai free trade zones. The whole process takes around 1 week after you have submitted all the necessary documents with the DED.
You Can Apply for Multiple Visas: After getting a general trading license in Dubai, you can apply for multiple visas for your employees. It depends on the size of your office. This means that the bigger your office, the more visas you can apply for. Apart from that, you can also sponsor visas for dependents, like spouse, child, parents, or even maid, driver, etc.
Auditing Is Not Required: You don’t have to submit auditing reports to government authorities in UAE if you have a general trading license in Dubai. Therefore, you do not have to go through the hassles a yearly auditing process.
Apart from these, there are some other advantages as well. For example, a company with a general trading license in Dubai can have 100% repatriation of capital as well as profits. You do not have to deposit the share capital in UAE banks. Get in touch with Arab Business Consultants today and get the help of the experts to get your general trading license in Dubai without any hassles.