The UAE stands out in global trade, covering an extensive range of goods in imports and exports. It shines as a major exporter of commodities like petroleum, gravel, sulfur, jewelry, etc. while importing gold, diamonds, aluminum oxide, and broadcast equipment…
As an entrepreneur, if you plan to set up an import export business setup in Dubai, obtaining an import export trade license is one of the first steps you’ll need to take. This comprehensive guide will walk you through the process, from the requirements to the procedures and costs. But before that, let’s go through why you should get a trade license.
Why Should You Get An Import Export Trade License in UAE?
Getting an import export trading license in the UAE is a must for global traders. It shows you’re authorized to trade goods, which boosts your business image. It means international partners see you as compliant and reliable, which is a big plus. Also, the customs experience is made more accessible. You receive benefits, including exemptions, reduced duties, and quicker clearances, when you have a trade license in the UAE.
What Documents Are Required?
To obtain an import export license, you must first gather the following documents: Our professionals will assist you throughout the full process of gathering these documents and cross-checking them for errors.
- At least 3 trade name options to register your business
- A completed application form which describes what your business does and the goods you hope to import/export
- Copies of each partner’s passports
- Copies of each partner’s UAE residence visas
- Copies of entry stamps or visa pages if the partner is on a visit visa.
- A copy of the local sponsor’s passport and Emirates ID.
What are the Procedures for Obtaining an Import/Export Business license?
Regardless of whether you want to import raw materials, manufactured items, food, electronics, jewelry, or anything else, you must have a trading license. Below, I have explained how you can get this import/export business license in 6 easy steps.
- Choose Your Business: The first step you must take is to choose an import/export business activity from among the DED’s list of activities.
- Name Your Trade: Once you’ve decided on what kind of activity you want to carry out, choose a name for your business. Keep in mind that the name should adhere to UAE’s naming guidelines. It should not include any such words that may be considered offensive.
- Find a location: Choosing your business location is crucial to setting up your business. You can either do it in the free zone or on the mainland. The only difference is that if you choose a Freezone, then you have a 0% tax rate, 100% ownership, and an exemption from import duties, whereas if it’s a Mainland setup, then you would have to pay a 5% import duty.
- Carry Out Your Application and Pay the Required Fees: Submit your application to the relevant authorities, such as the Department of Economic Development (DED) or the chosen Free Zone authority, and pay the required fees.
- License Issuance and Opening of a Bank Account: Once all the formalities have been completed, you will receive your license within a few days. Once that is done, the next step is to open a business bank account to make and receive payments from local and global clients.
- Registration with Dubai Customs: After receiving your import export business license Dubai, the final step is to register with Dubai Customs and submit the relevant paperwork, including your license, company information, and details about the products you intend to import or export. Approval grants you the permit to start trading Dubai.
The professionals at Best Solutions will guarantee that all of your documentation complies with regulations and prevent any unneeded paperwork errors.
Cost of Getting an Import Export License in Dubai
While setting up an import export business in Dubai, there are some factors, like the type of license you choose, the nature of your business, and the jurisdiction you select, that might affect the cost of an import export license in the UAE.
Along with the above factors, the import export license cost in Dubai will vary according to how many visas you’re requesting along with your application. Your license application may cost as low as AED 12,500 if no visas are required or around AED 23,600 for visa allocations. Due to the UAE’s position as a global commercial hub, importers and exporters find it a desirable site. That means your investment in securing a trade license might result in sizable returns!
We at Best Solution Guide You Every Step of the Way
Obtaining an import export business license is a significant milestone on your journey to establishing a successful business in the region. At Best Solutions, we provide comprehensive assistance and consultancy services for obtaining import export business licenses in the UAE. Contact our business setup consultants in Dubai today to discuss your import export license needs. Let us take care of the paperwork and procedures while you focus on building your trade.
