Know everything about Business Trade License in Dubai
Department of Economic Development in Dubai has categorized every business under various licenses, providing them prominence as per their business activity. Having a business license in Dubai does not only provide a proper business structure to regulate but also allows the company to attain several benefits.
What is a business trade license?
There Are Three Main Types of Business Licenses in Dubai:
- Commercial License: The commercial licenses cover all kinds of general trading as well as specialized trading activities.
- Professional License: The professional licenses are provided to business enterprises engaged in some or the other profession or service-oriented activity – such as craftsmen, doctors, teachers and artisans.
- Industrial License: An industrial license is provided to establishments involved in an industrial or manufacturing activity.
Attaining Business Trade License in Dubai:
Every business activity has a list of its own requirements – before applying for the business license, it is extremely important to outline the legal requirements, imply the governmental necessities and make crucial related decisions. However, below are the pointers that are required to be carried out by every business entity to acquire a business license in Dubai.
- The most significant and primary thing towards applying and acquiring a business license in Dubai is to designate the category of the business – i.e. commercial, industrial or professional.
- You need to also determine a single business activity that can be followed by adjacent business activities – which can be included within one business license and may be added simultaneously or in the future.
- Another important aspect is to understand the various business legal structures in Dubai, that will further influence the type of license that you need to acquire.
- Deciding on a trading name for the business – may at times also variate the choice of license.
- Once the documents are at hand you need to submit the application to the Department of Economic Development in Dubai for initial approval.
- After the initial approval, the business entity needs to register the trade name with the concerned departments.
- Rent or Lease a business premises – that will be specified according to the business license you intend to acquire; these tenancy papers are submitted at the authorities concerned for approval.
- Formulate required documents; such as memorandum of association and approvals from other applicable government authorities.
- Submit the final application with the mentioned fees to the Department to attain your business license.
Renewal of Business Trade License in Dubai:
A Business Trade License is valid up to one-year and can be further extended for another four-years – on the condition – if you have the subsequent documents until the mentioned time period. Likewise, during the renewal process of the business trade license in Dubai, various permissions from the Department of Economic Development in Dubai and other judicial bodies will be required depending on the type of business license you propose to renew. Nonetheless, the four essential documents every renewal process needs are as follows:
- Typed and accomplished (BR/1) Form.
- Copy of Trade License.
- Copy of Tenancy Contract and EJARI Registration Certificate.
- Passport Copies of all Partners in the Business.
At Shuraa, we make sure you do not have to go through a lengthy process of documentation , neither stand in the queue, nor spend money on unwanted paperwork. For swift, cost-effective and easy way of availing any type of Business Trade Licenses contact Shuraa Business Setup today!