What General Trading License means?
The general Trading license is an Ideal platform that gives the investors an open ended solution to trade in various products and items using one license. There are some particular products and items that the General Trading license can’t sell without specific external Non-Objection from Government bodies such as Medicines, Tobacco, and Alcohol…etc.
Official Activity Description according to the Department of Economic Development
Activity Name: General Trading
Activity Code: 4690018
Activity Group: Other Trading Activities
License Type: Commercial
Activity Description: Includes commercial firms engaged in importing, trading and re-exporting of any of the allowed goods and, the activities that need special approvals, can also be traded upon obtaining NOC from the competent department.
Having a General Trading License is a great option if your proposed Business involves in trading in several products, and not within one Activity Group. For instance, if your Business model is Mobile Phones & accessories trading (Electronics Business Group), and Ready Made Garments trading (Ready Made Garments Group), you won’t be able to get both Business Activities combined in one Commercial Business License since both Business Act ivities are not falling in one Activity Group.
General Trading License can save the cost of incorporating Several Commercial Licenses to register different Business Activities that are not in one Business Activity Group as mentioned above.
The Minimum Share capital (not paid) of the General Trading license is AED 300,000 (UAE Dirham, three hundred thousand) and the process of the General Trading license has been automated through the online portal of the Department of Economic Development.
The Office space required for the General Trading License remains the same as any other single trading commercial license, and it’s not true what the major people say that a huge office space would be required for the General Trading license. If you’d like to get a serviced office, you may check this page for more information.
You should think about a convenient name of your General Trading Business that will be follows by (General Trading L.L.C) to give you a quick example, if your proposed General Trading business name is ABCD, then the name will be booked ‘if available’ as ABCD GENERAL TRADING L.L.C.
Always remember that renting the office requires having the name reservation of the proposed company as well as the initial approval. Both documents should be provided to the landlord of the office space in order to receive your lease agreement along with the Real Estate Regulatory Authority ‘EJARI’ attested version along with DEWA which is mandatory to complete your Licensing process with the Department of Economic Development.
Whenever the final stage of issuing the License payment voucher is reached, it gets normally generated within the amount of AED 28,000 to 30,000 depends on some aspects that include the annual rent value of your office space.
