Negosentro.com | The UAE is a business hub with a lot of opportunities for both offline and online entrepreneurs. So, you can easily get a share of this vibrant market by starting an online business. UAE allows individuals to start businesses even on social media. You can sell handmade accessories, online services and even goods that require shipping. But you need an e-trader license Dubai before you start such a business.
The department of economic development has introduced an e-trader license in the UAE. It targets entrepreneurs doing online business either at home or on social media. The move is intended to bolster customer confidence when shopping online. It also aims at regulating online business activities within the UAE. Other than that, the government intends to raise some money from the fee paid to secure the license. This article delves into how you can get an e-trader license in Dubai.
- Eligibility
To get an e-trader license in Dubai, a trader must be a holder of an Emirates ID and based in Dubai. Also, the trader must be above 21 years of age. Obtaining a license is a simple process that requires one to choose a trade name that they will use to conduct business. The name must not be similar to any other existing business name and such a name must be approved by DED before seeking the license.
- Applying for the license
If you meet the requirements, you may start the process of registering for the license. you will need to visit a DED trade license and create a trade account. You will register your account online and make the necessary payment. There are other requirements you may need to fulfill. They include providing information on social media during the registration process. Once the payment is received, you will then receive a confirmation within 5-10 minutes. This confirmation should be printed out.
- Renewing the license
The amount of money you will need to pay before a license is issued is Dh1,070. This amount must be paid to the Department of economic development. The payment must be done electronically upon which a license will be issued. The payment needs to be renewed every year. Such renewal must be done in the month the license expires. Failing to renew the license will lead to automatic cancellation of the license.
- Business details
You will not be required to open a shop or an office before seeking an e-trader license. But, you will need to provide details of the online business you will be running. Also, the e-trader license is not a guarantee for a visa. Thus, you will need to go through the DED approval procedure.
There are other things you will need to do when seeking an e-trader license. But obtaining an Emirates ID, and being above 21 years are the most important ones. Other requirements such as the description of the online business and paying license fees are mandatory. Also, it is necessary that you abide by the law and desists from selling counterfeit goods. You should also not engage in illegal activities. Doing so may lead to the cancelation of your license.
