Commercial trading license is granted to those companies conducting commercial activities. Commercial trading can be a specialized trading of certain product under one category for example food products trading or textile trading or any other specific trading category. Apart from that there is General trading license which is issued to those trading companies trading multiple products e.g. mix trading of foods products, textile, electronics trading or other multiple activities. Normally general trading cover all set of trading activities apart from car trading and gold trading. Similar to General trading and commercial trading there are other special activities e.g. Transportation, real estate and construction.
Commercial trading companies around the world have different challenges when it comes to open corporate bank account, custom clearance, Storage and forwarding. U.A.E has made it easy by understanding the stress of trading companies and has introduced a number of solutions with free zones and mainland to cater their problems.
Since there are hundreds and thousands of products and each of them has different activity name and HS Code at the same time there are variety of free zone along with mainland in UAE which has made it complex for traders to choose right area to register their companies. Banking is also one of the big challenges in sense of documentation and profiling to meet the criteria of bank compliance which is why the selection of right business consultant is very crucial to defeat these matters.