In Dubai, all trade services are regulated by the Dubai Department of Economic Development. The DED means Dubai Department of Economic Development is the responsible government body for issuing all licenses for Trade services to multinational corporations or individuals. These trade services are only be taken in the territory in Dubai and one cannot use these services outside of the Dubai region. Top banks of Dubai and other financial institutions in Dubai along with the support of central government are trying to facilitate the locals as well as the non-residents for doing business in Dubai. The department of economic development has been updating its rules and regulations to act as a one window service center for all licenses regarding trading services in Dubai. In fact, the DED provides remarkable and fast trading services compared to most of the free zones in Dubai. In 2011 a new law has been issued to clear the way for things operating in free zones to open branches in Dubai. So now if one investor is trying to invest in any project he/she needs to get a complete permission from the DED. This is a comprehensive article and it provide to complete guidance on doing business in Dubai through an entity registered in one of the free zones in the UAE.
Most of the free zones in Dubai, do not allow a company registered with such free zone to do business outside the free zone in the mainland of Dubai. If a company want to do so it has to provide a license outside of the free zone. The civil work company for the sole [purpose of trading services can be established to carry on professional activities in dubai. these companies have contributed a lot in the economy of dubai and now we can observe the economical points of these effects in the market of dubai which is now considered as global international market. It is actually a trend setter in the international world as most of the investors are very much interested in taking the services of this market. Now if we talk about the trading services in Dubai and the role of top banks of Dubai we cannot separate these two factors from each other at any stage. If a person want to share a trading a service for that a UAE local service agent will need to be appointed in the civil work company. It is also very much in the main interest of an expat as in the case of a limited liability company a UAE national must legally hold at least 51% of that limited liability company. This means that your local partner is as responsible as you infect a little more than you.
Trading services – Role of Top banks of Dubai
As top banks of Dubai are highly involved in the trading sector of Dubai, one needs to clearly how know about their relation. Although the Law No. 13 of 2011 is silent in terms of the activities that can be conducted by a branch of a bank in Dubai. There are certain limitations for each services to conduct and get permission from the DED. Before going towards the role of the top banks of Dubai we first evaluate the documents requirements that is needed for an investor for the sole purpose of trade in Dubai. First of all an investor needs to show a copy of the corporate documents of the free zone. Second a copy of the passport that is much needed by all legal bodies in Dubai. The third most important requirement is payment of AED 15, 000 as the Ministry of economy fees. Now we come to our basic point that is role of banking sector. It is clear that Mashreq SME is the most reliable and credible bank as it is one of the oldest bank in Dubai and working from last three decades for trading services. If you are an expat or you are a local, trading services of Mashreq SME is most appropriate for all to start a small business setup as well as to start a multinational corporation. For further and clear detail about the trading services being offered by this bank, one need to visit the official website of the bank.