Upon starting you business in the UAE, one of the important part is to obtain a business license. The most employed and required type of permit is the commercial or trade one. It designates all the major activities that you can carry out. The renewal & trade license cancellation in Dubai requires expert knowledge.
For any entity which is established or going through liquidation process has to go through stress filled steps in order to get the legal work done regarding their licenses. Dubai Chamber of Commerce and DED (Department of Economic Development) controls all of the procedures related to trade license in Dubai.
However, for some business categories, the licensing necessitates approval from authorities and certain ministries such as financial institutions and banks, insurance companies, Central Bank, Economy and Commerce ministry. Manufacturing businesses require the special consent from the Ministry of Industry and Finance, whereas, medical and pharmaceutical products need approval from the Ministry of Health. If you find yourself in oil or gas production, there are several other authorities from whom you need approvals for cancellation and trade license renewal in Dubai. Some major activities such as insurance and jewelry setups require a financial guarantee which is issued by a bank already operating in UAE.