This is the age of entrepreneurship we are dwelling in. Near about 60 % of the millennial is showing interest in proceeding careers in businesses rather than full time jobs. Jobs definitely till today hold a significant place in employment spectrum, however the twenty-first century is often termed as the age of the entrepreneurship. Even international business launching ideas are hovering in the minds of people nowadays If you had an entrepreneurial mind always and treasure excellent business ideas in your head, well Sharjah, Dubai would be an ideal target.
A large percentage of business people are choosing Dubai as one of the suitable and lucrative places to start off their business. There are more than one or even two reasons behind it which may include security, infrastructure and logistics, port, air transportation facilities, energy, human, financial, human resources and many more. However, one of the biggest advantages why people tend to choose the place is that it is tax free. However, if you are looking forward to start a business in Dubai, consider yourself just at the right place. Here, we shall speak about one of the most important aspects of starting a business in Sharjah; however that shall be region specific.
The Importance of a Trade License in International Businesses
Dubai Trade license is an important aspect not only in international but as well in domestic or any nature of business. It can be considered as the passport to your business. Irrespective of what scale, size or nature of business you have launched, a trade license is a mandatory one. It is the legal and professional authentication of your business. It is a method to regulate a particular business. It is often operated to make sure that a citizen is not adversely influenced any nuisance or health hazard and it has a legally clean background.
Steps to Apply and attain a Trade License if you are Based at Sharjah
Step 1 Permission
There are three kinds of permits required to seek trade license if starting business based in Dubai. They will include Professional license, Commercial license and Industrial license.
Step 2 selection of business functionality
The activity of the business will determine feasibility for both the locality as well as the business launcher. So, it is imperative to select it right.
Selecting a local sponsor and a legislative form
Select a business partner and specify the facilities you will need from your local sponsor. A local sponsor will be required initially and even in the long run. There is a legal structure that is obscure when it comes to Dubai economic department that should be adhered by every organization.
Reserving the trade name and initializing for approval
The next step is to select a colony title that shall help your business gain recognition. Reserving a trade name as per the Dubai economic department is important. As you get done with your paper works, apply for an approval from the economic department.
Take steps for external approvals and head towards corporate rentals
Apart from the Dubai Ministry, business owners often seek external approvals as that might be required in the long run. As you get done with these, it is important you focus on renting office spaces. There are immense local as well as online facilities that you will get access to.
Submit your documents and pay off the amounts
Lastly, the key documents needs to be submitted in order to get the business license to the DED. You can check for the document details online. Now you can go ahead and clear all the charges and fee that were due in the list of the pokes.
A trade license based in Dubai can cost to round about AED 30,000 to AED 40,000, based onother external factors. For more information about trade licenses, VAT registration, return filling and company incorporation, GCC Filings is always a great option. The company will help you out with these essential processes and make sure that you stay worry-free at all times.