Are you from outside of Dubai and want to start a business in one of the fastest-growing countries in the world? There are a lot of business options in Dubai. For example, you can get a general trading license, which lets you do a lot of different kinds of business, like selling food, electronics, furniture, clothes, fashion, and more. This is a full guide on how to get a general business license in Dubai.
What is an IBC (General Business License) in Dubai?
In Dubai, a general trading license lets you bring in, sell, and exchange a lot of different things and items. When you have a general selling license, you can sell a lot of different kinds of goods. The only things you can’t sell are tobacco and things that don’t meet health standards.
Why You Need a Dubai General Business License
A general trade license is necessary for foreigners who want to start a business in Dubai that sells different kinds of goods. This license is important if you want to trade in more than one industry, because it lets you run your business more efficiently with just one license. It is now easier and faster to start a business in Dubai thanks to this.
What Does a General Trading Company in Dubai Do?
In Dubai, a general trading business lets you buy, sell, and bring in and out different kinds of goods from different fields. This includes trade in textiles, electronics, tools, and other goods. Some goods that are controlled, like medicines and frozen meals, have to follow health and safety rules. Dubai’s Department of Economic Development (DED) makes it easier for businesses from around the world to do business with Dubai.
Follow these steps to get a general business license in Dubai.
- Make sure the company name is okay:
Send the DED three to four possible names for your business.
- Pick a legal structure and describe the activities of the business:
Choose a legal arrangement for your business and write down the things you want to do with it.
- Sending in the documents:
Take important papers to a recognized center, like a copy of your passport, your residence visa or visit visa, and your Emirates ID. After checking the papers, the DED will then send a payment voucher for the license.
What You Need to Get a Dubai General Trading License
- Plan for business
- Application for a license
- Payment proof for fees
- Letter of approval from DED for the name Memorandum of Association (MOA)
- Copy of the investor’s or shareholder’s passport.
General Business License for Dubai Mainland vs. Free Zone
General Trading License for Dubai Mainland:
Allows businesses to work all over Dubai by giving them more freedom and flexibility.
General Trading License for the Dubai Free Zones:
Foreigners can start businesses in a number of free zones, though some require a minimum share capital of AED 1 million.
The Cost of a General Trading License in Dubai
| Cost Details | Amount AED |
| Trade name reservation cost | 620 |
| Initial approval fees | 120 |
| Tasheel fees for initial approval | 345 |
| Tasheel fees for MOA | 350 |
| License fees (Approx.) | 12500-15000 |
| DED activity fees (General Trading) | 15000 |
| Immigration card | 750 |
| Total | 29,685 AED |
Benefits of Starting a General Trading Company in Dubai
- High-Quality Infrastructure: Flexible office spaces with top-notch amenities.
- Easy Business Setup Process: The entire process can be completed in 3-4 working days if all paperwork is in order.
- Minimum Capital Requirements: No need for a bank guarantee or share capital deposit.
- Low Taxation Policy: Low corporate taxes with high repatriation benefits.
- No Trade Barriers: Minimal start-up costs and no paid-up share capital requirements for mainland businesses.
Dubai is a great place to start a general trade company because it has a lot of benefits and is easy to get to. DXB-VIP can help you set up your business in the UAE so that it is ready to go without any problems and in line with the rules.
