How to start a general trading company in Dubai,UAE
June 28, 2021
The economic diversification of the UAE has been huge in the past few decades, all thanks to the entrepreneurs and investors interested in starting businesses in Dubai. The economic environment, the tax-free zones, the business-friendly commercial and social structure are all what attracts foreign investors to UAE. The government is unstoppable in its vision of making UAE one of the biggest economic zones, which further pulls entrepreneurs across the globe to venture here. One of the most thriving UAE businesses is that of a general trading company in Dubai, UAE.
What is general trading business in Dubai, UAE?
A general trading business is one incorporated with a general trading license allowing import, export and distribution of goods and products. Under this license, an entrepreneur is permitted to trade multiple products from different industries, that could be completely unrelated to each other. E.g.: you can trade furniture, home applications, apparels and so on under this license.
Besides, there are certain items that need approval from higher authorities before you can legally distribute them to the market. Such items may include alcohol, guns, or cigarettes.
How to start a general trading company in Dubai, UAE
- Decide the commercial jurisdiction:
A general trading company in Dubai can be incorporated in the mainland or a free zone. In case of budget concerns, opting for free zone would be a good option. Opening a general trading company in UAE free zone is an affordable option where one of the free zones the International Free Zone Authority (IFZA) issues the cheapest general trading licenses. On the other hand, if your goal is to get into the UAE market, you can enter the mainland with the ability to trade goods without restrictions.
- General trading as a business activity:
General trading as a business activity can be an amalgamation of other activities which may or may not require any external approvals. This can be tricky for new entrepreneurs in the market, so it’s highly suggested to consult a business setup expert.
- Choose a company name and license application:
There are certain things that one needs to keep at bay while naming your company. These include any religious name, using any prohibited word and so on. You can check the following blog for the same. Once the name of the company is approved, you can apply for a trade license which might take a matter of days.
- Getting an office space and warehouse:
One of the obvious things with setting up a general trading company in Dubai, UAE involves trading physical goods, which means an entrepreneur will seek a warehousing facility. In this situation, either the entrepreneur can get in touch with a third party agent who already has a warehouse or directly setup a warehouse.
- Consider the Customs:
Whether it is import or export goods by sea or air, passing through the UAE customs is a primary obligation. In the UAE, an entrepreneur needs to request an import code from the UAE customs to bring products into the country and pay the applied import duty. You can register with the customs authority in all the emirates, depending on what works best for your certain business.
How does MBG help you?
In regards with how to set up a general trading company in Dubai, UAE, we at MBG ensure that it only takes a minimal effort for you. We ensure that the different stages of business are taken care of efficiently to simplify the process of company formation in Dubai/UAE for you. You will only be needed to submit the required documents and wait for approvals that follow each step. Ultimately, your initial goal is the successful incorporation of the general trading to start the business running immediately.
You can achieve this by working with a credible Business Setup Consultant in Dubai/UAE, and we at MBG happen to be just the one for you.
Our specialists at MBG, can help you find the best-suited solution with Company Formation in Dubai/UAE according to your specific needs. We advise you on the structure and jurisdictions to choose from, while ensuring that all legal, technical, administrative and financial aspects are completely taken care of.
To know more about our Business Setup Services specific to UAE/ Dubai, click here
You can directly reach out to us for your query related to "Setting up a Business in UAE/ Dubai":
Whatsapp: +91 88601-90008,
Email: [email protected]