Dubai is considered to be a major international trading hub in the middle east and is therefore a very desirable place for business setup.
There are many industries that offer great opportunities for business setup in Dubai. Among these industries, foodstuff trading is one of the most profitable. Thanks to the booming food and beverage industry in UAE, there is plenty of room for foodstuff trading companies to grow and earn a constant stream of revenues.
If you are interested in foodstuff trading business, then it is useful to seek assistance from an expert company formation consultancy in UAE. This is because they are specialist agents in business setup in UAE that can walk you through the process of company setup and save you time while preventing legal complications.
How to Start a Foodstuff Trading Business in Dubai
Business setup in Dubai is possible for a foodstuff trading company either in the Dubai Mainland or within certain free zones within the emirate.
Mainland License
If you choose to setup a foodstuff trading business in the mainland, it will be setup as a limited liability company (LLC).
In the mainland, you will be required by law to have a local sponsor who will retain 51% shares of the business, while you will receive the remaining 49% shares.
For more information regarding “What are the basic requirements and what you need to know before starting a business in Dubai“
| The steps for business setup in UAE of a foodstuff trading business in mainland | |
|---|---|
| Select the trade name for your business and obtain initial approval from the Department of Economic Development (DED) | Submit all the necessary documents to the Department of Economic Development (DED) and collect the payment voucher |
| Sign the Memorandum of Association (MOA) from a Dubai notary public – this can be done electronically | Submit the tenancy contract to Dubai Municipality Food Control Department |
| Rent an office space and obtain the tenancy contract and have it attested by Ejari (Dubai Land Department) | Make the final payment to the Department of Economic Development (DED) after the submission of the documents in order to obtain the foodstuff trading license |
Free Zone License
If you wish to setup the trading business in free zone, then you will be able to retain 100% ownership of the business. The exact business setup process may vary between different free zones, but the general procedure for setting up such a company in a free zone is as follows:
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Determine the type of legal entity:
- Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
- Free Zone Establishment (FZE)
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Choose a trade name
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Apply for a business license
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Choose an office space
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Get pre-approvals, register your business, and get the trading license
The documentation which will be required in order to obtain the foodstuff trading license are as follows:
- Passport copies of the shareholders
- Visa of the shareholders
- Emirate ID of shareholder having resident visa
- No Objection Certificate (NOC) from sponsor in case the shareholder has a resident visa
Whether you want to setup your foodstuff trading company in the mainland or free zone, expert consultants in business setup in Dubai can make the process smooth and hassle free. Also see why you should start business in Dubai. Contact us to learn more. For further information and assistance on how to start foodstuff business in UAE, speak with our experienced consultants. Book your FREE consultation today at +971 558654072 or +97143827780 or E-mail us at info@test.companysetup.ae or drop us a line here
