For entrepreneurs keen to do business in the UAE, the flexibility of a general trading license kicks down the barriers. It enables you to buy and sell whatever goods you like via a single license. You can then reap the benefits of the region’s favourable tax laws, fantastic built environment, affluent consumers and excellent infrastructure.
Once you’ve decided on your business plan, contact UAQ Free Trade Zone (UAQFTZ) to get the ball rolling. Meanwhile, this article will get you started with the general trading license application process, providing essential details in the following areas:
Anyone planning to sell goods in the UAE needs a general trading license. The keyword here is ‘general’ – this is a commercial license that allows you to cover multiple business activities (with the exception of those requiring clearance from the UAE authorities).
If you’re an entrepreneur looking to trade, export, re-export or import in the UAE or through distributors, a general trading license sets you up to operate in accordance with the country’s Commercial Firms Act. This license covers all the ground, whether you’re dealing in goods in one particular sector or across different industries.
A UAE General Trading License is all about flexibility. If you wish to grow and diversify over time, you can add more shareholders or branch out into other business areas.
There are five simple steps to follow when applying for your license:
Step 1 : Get your company name approved and specify your business. You will be applying as a single partner, multiple partner or branch.
Step 2 : Submit all required documents (see the Documents needed to get your UAE General Trading License section, below).
Step 3 : Sign the original incorporation documents and submit them.
Step 4 : Once the documentation has been approved, submit your payment of the specified fees.
Step 5 : Wait for your license. Don’t worry, you won’t have to wait for long – the process should only take a couple of days.
General trading license packages are AED 20,500 and AED 27,500 depending on the number of visas. The exact amount will depend on the vision you have for your business – contact UAQFTZ for a personalised quote based on your specific requirements.
Once the company is incorporated, you could be successfully running your business within two days. You don’t need to visit the UAQ Free Trade Zone office in person when setting up your company or paying for your license application, which saves you both time and money.
The nature of your business plans will dictate the exact documents you need to deliver. There are, however, some basic requirements, and at the beginning of the application process you will be asked to provide the following:
The UAQ Free Trade Zone adds its own distinct benefits to the general advantages of operating a business in the UAE. Companies here enjoy a winning combination of favourable tax laws, low costs and excellent infrastructure. The zone is also in a great location for trade, import and export, being just 30 minutes from Dubai and with special concessions at UAQ’s sea port.
Here is an at-a-glance list of the benefits of applying for and using your general trading license in the UAQ Free Trade Zone:
Broaden the picture to general trading in the region, and the benefits are remarkable. The fact that there is no corporate or personal tax is well-known. But there’s a lot more about this prime location to keep entrepreneurs happy.
For example, there are zero import and export taxes within the free zone and outside GCC countries. You will also benefit from repatriation of all capital and profits, zero currency restrictions and no foreign exchange controls. In terms of infrastructure, the road network here is second to none, and there are fully-serviced high-tech offices and warehouses available to suit all business sizes and types. If it’s a flexi-desk arrangement you’re looking for, that can be accommodated too.
The UAQ Free Trade Zone was specifically created by the Umm Al Quwain government to nurture business. As a result, business-friendly rules and regulations are in its DNA. The registration process is simple, and UAQFTZ’s ongoing support will help you every step of the way.
Reaping the benefits of your general trading license, you’ll be joining other businesses in the UAQ Free Trade Zone at a time of growth and new initiatives. The zone is currently in a second phase of development that promises even greater rewards for business owners.
Applying for a general trading license application is the next step you need to take on this highly rewarding road is. Contact UAQFTZ to open the doors for your business.