What is a Commercial License?
If you wish to buy, trade, and sell goods and any commodities or undergo any trading activity, then you must obtain a valid commercial license.
The Commercial License Business Activities:
The activities that come under the commercial license in Sharjah are as follows:
General Trading License
Specific Trading License
Import and export
Logistics
Real Estate-related activities
General transport services
Equipment Rental business
Brokerage services
General Trading License
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Specific Trading License
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Import and export
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Logistics
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Real Estate-related activities
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General transport services
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Equipment Rental business
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Brokerage services
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Advantage of Commercial License:
- Obtaining this license is comparatively easier than many of the other types of business licenses.
- One can trade more than one product or service.
- A business owner has freedom to undertake trading business in any region in the UAE.
- You can conduct several activities under one license.
- There are secured business engagements with the Sharjah Economic Department
- Location can be selected anywhere in Sharjah as there are no restrictions in this matter.
- You can apply for employment visas, labour quotas, and more.
- No auditing required is required for the renewal process.
- A corporate bank account can be opened easily
- There are low freight charges
- There are readymade offices, factories, and commercial spaces available
- Foreign exchange control is not there
What are the documents required for mainland commercial license?
- Application form with company name specified in both Arabic and English.
- The approval letter from Sharjah Economic Department
- of the company name
- Lease contract form with the registered address of the company
- Memorandum of Association (MOA) of the sponsor and partners
- The license fees are proof or receipt for the issuance of the license.
Steps for Obtaining a Commercial License:
- Choose the nature of the business you wish to start in the UAE (Additional approvals may be required according to the activity).
- The initial approval is issued Sharjah Economic Department
- Depending on the nature of the business activity, you may need to get a local sponsor in the mainland. We can help you with a reliable sponsor.
- Our experts then draft an Article of Association (AOA) and Memorandum of Association (MOA) to lay out the rules, policies, and regulations to be followed in the company which are typed in both Arabic and English.
- Select the trade name for your company and it has to be according to the specific norms by the Sharjah Economic Department.
- If not, it will be rejected.
- Rent office space with Flexi desks or virtual offices and complete the Ejari registration process if you are leasing an office space.
- Obtain approvals from the relevant Ministries and Department
The Renewal Process for Commercial License:
The validity for the license is one year and therefore it is mandatory to renew once it reaches its expiry date. Once you renew it, the license will be extended for a period of five years. The documents needed for this include-
- Trade license copy
- Office lease contract copy
- Concerned approvals from the authority or ministry
- The information regarding employees’ accommodation with the foreign shareholder.