Trade license is the crucial requirements for any type of business in UAE. Once the requirements for a trade permit is fulfilled by a business owner, specific agencies and government organizations then allow the owner to legally the business. However, the permits and licenses depend upon the business category.
All of the general trade corporations require minimal approvals and permissions as compare to other businesses such as financial assistance, health care facilitators, food processing, production and publication services.
To better understand the license requirements and permission process for a company registration in Dubai, let’s see the different categories of permits issued by government for registering a firm.
Licenses For Registration:
Every business entity operates in dissimilar activities as the other. UAE government issue permit to a business depending upon the activities it will perform. Once they analyse the specifications they are undertaking for, a license from the following categories will be issued.
Commercial License:
Commercial permits and authorizations are issued to business entities those undertaking trade activities.
Industrial License:
As the name implies, industrial authorizations are allotted to industrial companies which will perform manufacturing accomplishments.
Professional License:
Professional licenses are issued to businesses which are undertaking activities like arts and crafts, service providing and other arts related businesses are.
Beside the activities a business will operate for, Department of Economic Development require certain type of requirements in order to legally permit a business entity for the undertaken operations. Following requirements are required by them for individual business.
- Confirmation of UAE Central Bank is obligatory for authorizations that are issued for banks or financial institutions.
- Those permits that are issued for production activities must be approved by Finance and Industry Ministry.
- Those companies that are looking forward for insurance operations must possess an approval from the Economy and /commerce Ministry.
- Health Ministry issue permits for operations related to medical and pharmaceutical items which must be presented to the Department of Economic Development UAE.
- Authorizations and endorsements are required for oil and gas related operations from government agencies.
The Bottom Line:
Both the Department of Economic Development and Dubai Chamber of Commerce and Industry are involved in company registration in Dubai who properly analyse the entity activities and other legal requirements. Once the business entity fulfils the whole of their requirements, legal permits are issued and the business operates the specified activities in UAE.