Company Formation
Are you an entrepreneur interested in opening a professional services business in the UAE? Getting a Professional Trade License will open up the world for your business. A Professional Trade License allows you to legally operate in the vibrant UAE market by offering professional services such as consulting, marketing, technology, and many more specialized services. Giving a Professional Trade License to your business will not only instill an element of credibility within it but also open one's doors to myriad growth opportunities within one of the world's most dynamic economies. Here we aim to take you through the benefits, requirements, and step-by-step process of acquiring a Professional Trade License. Whether you are just entering the UAE market or expanding on an existing business, knowledge in this area will help move through the regulatory requirements like a pro and set your business up for success.
A Professional Trade License is a permit issued by the UAE government, allowing individuals or companies to provide professional services, such as consulting, training, or expertise based services. This license categorizes businesses into various activities, including:
1. Legitimacy: A Professional Trade License establishes your business as a legitimate entity, enhancing credibility and trust with clients.
2. Flexibility: This license allows for multiple business activities, enabling you to diversify your services.
3. Tax Benefits: Professional Trade License holders are eligible for tax benefits, including exemption from VAT.
4. Access to Government Contracts: With a Professional Trade License, you can bid for government contracts and projects.
1. Business Plan: A comprehensive business plan outlining your services, target market, and financial projections.
2. Qualifications: Relevant qualifications and certifications for the professional services offered.
3. Insurance: Liability insurance to protect clients and stakeholders.
4. Office Space: A physical office address in the UAE.
1. Choose Your Business Activity: Select the relevant business activity from the UAE government's approved list.
2. Register Your Business: Register your business with the Department of Economic Development (DED).
3. Obtain Initial Approval: Receive initial approval from the DED.
4. Submit Documents: Submit required documents, including business plan, qualifications, and insurance.
5. Pay License Fees: Pay the license fees, ranging from AED 5,000 to AED 50,000.
With a Professional Trade License in the UAE, one can have access to a strong market and a structure for business growth. With this comprehensive guide, you are equipped to navigate the licensing process and set up a thriving business. With tailored recommendations and professional consultancy, Reyson Badger can help your business setup and regulatory compliance specialist in the UAE. They can be of great value to simplify the process by ensuring the right start from the very beginning.