Dubai is one of the dream destinations for adults as well as teenagers. It is a beautiful city to live, explore, work, and trade. Oil, along with gold, being the primary source of business in Dubai, there are significant benefits of trading and flourishing in Dubai.
Dubai encourages new entrepreneurs, be it foreign or local and allow them to invest capital in their market and industry. Below are a few of the significant advantages that you will receive once you get the trade license in Dubai.
Why do you need a trade license in Dubai
- Free company registration
Registering a new company name under the relevant authorities in Dubai is very easy. With so many reputed service providers in Dubai ready to handle all the legal aspects of your business, there is no need to worry about how to get a trade license in Dubai. Moreover, if you do not have a warehouse or any other official space to work from, the free trade zones also offer open office spaces for you.
- Free trade zones
Dubai thrives on the income from its oil trading companies. The city is vibrant and provides a lot of facilities that will encourage anyone to come and trade here. Most budding entrepreneurs wonder how to get a trade license in Dubai so it is always advised by the experts to go for the professionals as they will take care of all the leg and paperwork while you relax and work on your business.
- Enough tax benefits
The Dubai government provides a lot of tax benefits for the businessmen. Among them, the following are worth mentioning:
- Lack of tax imposition on the income of a registered company.
- Even if you are paying, the rate is at 5%.
- Zero taxation on profit margins and income.
How to get a trade license in Dubai?
There are some basic requirements which you can quickly fulfill without worrying about How to get a trade license in Dubai.
- For bank and other similar financial institution approval, you must have documents of UAE central bank approval. You have to register under the central bank first; and then comes any other bank be it private or non-private.
- For getting the license, you must have the approval from the Industry and Finance Ministry.
- The trade license must have business registration done under the Dubai Chamber of Commerce and Industry.
- If your business belongs to the gas or oil production industry, you will need direct permission from the ministry level, which is also valid for any other trading field.
Getting a trade license in Dubai is not difficult, but the process is a bit lengthy. You have to take permission from the central head authority directly if you don’t opt for the services offered by the professionals. Now that you know How to get the trade license in Dubai, apply for one today, and enhance your business range!
