How To Get Trade Licenses In Dubai – 10 Legal Steps To Follow

If you have prior experience beginning businesses in the UAE, you may know the process to get a trade license in Dubai. But before entering the battle on your own, if you’re new, it’s advised that you seek advice from the professional lawyers at MAAF Legal, the leading legal firm in Dubai. If you decide to take the plunge alone, you may follow advice from corporate law firms in Dubai, which is broken down into these easily riveted steps.

1. Select Business Area & Name

The foremost step, to begin with, is to determine which area or business jurisdiction you are planning to open your business in. Business investments must be made carefully, and when choosing Dubai as your business operation center, you should select it beforehand. The business jurisdictions in Dubai are Mainland Dubai, Free Zones, and Offshore Companies.

Moreover, the next thing to undermine is the business name, which is another crucial thing for setting up your company and obtaining a trade license. So, you must consult to a legal advisor in Dubai at Mai Alfalasi.

2. Be Clear on Your Business Legal Framework

The next is to be clear on your business legal framework. It is a vital aspect to obtain a trade license in the UAE. In this legal framework, you will describe the functioning and operations of your business and the key liabilities of your enterprise. In order to obtain a trade license and structuring a legal framework, you can take assistance from the best legal counsels in Dubai.

3. Describe Your Business Activities

After deciding on your company’s name and legal form, you must specify the commercial operations you want to carry out. Each trade license enables a maximum of 10 activities, so be sure to mention all of your activities on the license.

4. Plan to Get Initial Approvals

The next important thing is to get initial approvals for registering your business as well as obtaining a trade license. The initial approvals from the Department of Economic Development in Dubai will be obtained. For this, you will need to fill up a form or application.

5. Prepare a Memorandum of Association (MOA)

Another vital step to perform is the preparation of the memorandum of association (MOA). In order to obtain a trade license in Dubai, preparing MOA is highly important. For this, you will also need to get the services of a legal representative to carefully and properly draft this document.

6. Collect Important Documents

The next important part is to collect some important documents before moving further with a trade license. This is where you may require external approvals. Also, be mindful of the fact that you will need to research the correct business formation process. Failing to fulfill the requirements will result in a rejection of your trade license form.

7. Finalize Your Office Space

Because the rental agreement and EJARI are required to get the trade license from the DED, you must find an office space. You can choose a virtual office if you don’t require a real office location. But either way, you must fulfill this step to move forward with your trade license.

8. Submission of Documents to the DED

There are some weighty documents from the DED that must be submitted. The following is a list of the documentation you must provide to the DED:

• Clear copies of shareholders’ passports.
• Initial approval document from the DED.
• DED application form.
• Memorandum of Association (MOA).
• Tenancy contracts and EJARI

9. Submit an Application for Trade License

Now that you have prepared all the documentation followed the process, and decided on the business location, moving forward with applying for a trade license is the next thing that comes up in line. This is where you will need to submit all the documents and other materials to the DED to obtain your trade license.

10. Pay the Required Dues

Keep in mind that obtaining a trade license is not free. In order to obtain your license, you must pay both the licensing fee itself and the issuance fee.