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Trading license is issued to foreign entity/local company/free zone firms who wish to carry out trading activities in the free zone. A company can easily obtain trade license and register for membership at the Dubai Chamber of Commerce and Industry (DCCI).
A prior consent is required from concerned ministries and pertinent authorities for their respective businesses modules.
Following are the biggest institutions & ministries which issue direct licenses to Dubai’s major business sector and trade houses:
1. Banks and financial institutions – approval from the UAE central bank
2. Insurance companies and related agencies – Ministry of Economy and Commerce
3. Manufacturing Entities – Ministry of Finance and Industry
4. Pharmaceutical and medical produces – Ministry of Health
There are certain trade activities which necessitate the submission of financial guarantee issued by a bank operative in UAE. The companies which are into oil & gas production and associated industries, the procedure is little more in depth. The cost of a UAE trade license varies depending on the type industry and activity.