How to Start a General Trading Company in Dubai?

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HOW TO START A GENERAL TRADING COMPANY IN DUBAI
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Dubai is a thriving hub of global trade. The
super powerful and future- forward Dubai is also
known as the leading global trading territory.
The city provides unparalleled access to the
worlds fastest-growing market and if you also
aspire to start a general trading business in
Dubai, then this article will help you
understand how to set up a trading firm in the
region. However, setting up a general trading
business in Dubai isnt that difficult. Dubai
already has solid trade links with the Indian
Subcontinent and Egypt, followed by the USA. The
city still provides ample space for trading firms
to come, invest and benefit from the expanding
market of Dubai.
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Lets take a look at the 7 steps of starting a
General Trading Business in Dubai, UAE
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Create A Business Plan
Obtaining a General Trading License
02
Choosing the Location
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The Investor Visa / Partner Visa
03
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Complying with the Legal Terms of Dubai
The Bank Account
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Create A Business Plan

• No business is successful without planning.
  Before establishing a trading firm in Dubai,
  covering every necessary element in your plan is
  worthwhile! A good business plan comprises a
  brief assessment of the pluses and minuses
  associated with a particular step taken for the
  business objectives. Simply put, the plan must
  cover up.
• Competition analysis in the Dubai market
• Total number of employees required to get started
• Total expenditure to be incurred by your firm in
  Dubai
• Offices and space requirements
• Profitability and scalability
• These are just the basics of plan building that
  help you position your business at the desired
  place ahead. But make sure you go through other
  diverse but related segments of planning.

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Choosing the Location

• Lets land straight to the most important point,
  the location. Where will you start your
  general trading business in Dubai? Choosing the
  right jurisdiction to setup your trading firm
  can make or break your business.
• Statistically, entrepreneurs prefer Dubai
  Mainland to setup a trading business compared to
  freezone or offshores as they have the liberty to
  trade freely within the country as well as
  internationally.
• Nonetheless, the Dubai market is divided into
  three jurisdictions and offers traders to pick
  between the following regions those are
• Mainland
• Freezone
• Offshore
• As for free zones, several in Dubai offer trading
  businesses 100 ownership and opportunities to
  trade outside UAE, with other free zone
  companies, and with Mainland companies with the
  help of a distributor.
• Offshore business licensing is provided to
  non-resident companies in Dubai and
  entrepreneurs can trade only outside the country.

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COMPLYING WITH THE LEGAL TERMS OF DUBAI
Whether you are just starting a general trading
business in Dubai or running a well-established
firm in the city for a long time, all must
comply with the legal terms of Dubai. UAE
encourages a transparent and business-friendly
ecosystem for entrepreneurs. Hence, emphasis on
the legal terms applied to almost every activity
involved in the trade. Businesses require to
submit legal documents to comply with the
trading rules of Dubai. Once the concerned
authority approves, you can readily obtain the
general trading license to effectively run and
operate your business in Dubai.
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OBTAINING A GENERAL TRADING LICENSE

• Once you think you are all set to launch your
  general trading company, you can head to obtain a
  General Trading License in Dubai. This license
  permits you to operate your company in the most
  dynamic city of Dubai without any issues. Simply
  go through the steps as stated below to get
  started
• Select a Trade Name for the company
• Ensure you are legally compliant with the legal
  formalities
• Apply to DED for the approval of the license
• Act on their recommendation and suggestions
• Prepare a Memorandum of Association (MOA)
• Get MOA signed by business partners if you have
  any
• Choose a business location and provide details to
  Ejari
• The concerned authority will then attesting your
  tenancy contract
• Submit your application to the Department of
  Economic Development (DED)
• Pay the license fee, and you are ready to go!
• Please note that companies aspiring to do general
  trading in Dubai from free zones or offshores
  will have to obtain a license and approvals from
  the repsective authorities of those jurisdictions.

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The Investor Visa / Partner Visa
Entrepreneurs are also required to apply fot an
Investor visa or Partner visa. Non-resident
trading firms must have all the applicable visa
documents ready before getting started. It is
mandatory not just for the business owner but
for the companys employees, employers, and
staff if you as a trading firm plan to appoint
employees. However, theres a limit on how many
visa applications you can have depending on the
size of the company and the jurisdiction.
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The Bank Account
Without a bank account, you wont be able to
process the transaction and do business. You
must open a valid corporate bank account in any
of the trusted UAE Branches. However, opening a
bank account in Dubai as an entrepreneur can a
complicated task. As an opening, a bank account
for international entrepreneurs or a general
trading firm is a bit difficult unless a company
formation specialist is involved to guide. Heres
a must-have to open a bank account in UAE A UAE
business license The shareholder must have
Residency VISA A minimum balance of AED 10,000 to
AED 150,000 may be required
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NEED ASSISTANCE?
Still not sure how to get started? To get instant
assistance or book a free consultation contact
The Wise Start Consult an expert for free and
understand how to start a general trading
business and evaluate the general trading
business cost in Dubai and explore our
cost-effective packages to ease your setup
process! Book a FREE consultation with us and
solve all your queries concerning any type of
business setup in Dubai. We help you with
licensing, ascertaining jurisdictions for your
business, registration procedures, paperwork and
so much more! Call us now!!
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