Wholesale trading businesses are some of the most successful companies operating in Dubai. So, if you consider starting a wholesale trading business in Dubai, you will undoubtedly enter an exciting sector.
Statistics show that the wholesale and retail trade generates over a quarter of the emirates’ entire GDP. What is more, data from Statista shows that revenue from the wholesale and retail trade in the UAE is expected to reach some USD 55 billion by the year 2024 – its highest ever!
Dubai’s success as a hub of wholesale businesses is primarily due to its geographic location. At the crossroads of world trade, Dubai is a major shipping hub, and some 2 billion consumers live within six hours of the emirate. This means your businesses could reach global markets very quickly.
Starting a wholesale trading business in Dubai requires applying for a wholesale trade license. This process is relatively straightforward, but it requires you to complete a certain amount of paperwork, which can be a challenge if you’re unfamiliar with the process.
At Meydan Free Zone, we have helped numerous businesses set up in the wholesale trading sector. In this article, we will be looking at how to start a wholesale trading business in Dubai:
In this article, we will be looking at how to start a wholesale trading business in Dubai:
So, let’s see how you can begin applying for your wholesale trading business license.
What are the steps to start a wholesale trading business in Dubai?
Whether you plan to trade wholesale for foods, electronics, technology, commodities, textiles, vehicle parts or anything else, you will need to get a retail and wholesale trading license for Dubai. The following five steps describe how you can get this license.
- Select Your Business Activity
The first step to getting a wholesale trading presence in Dubai is to select your business activity. You can choose from thousands of business activities in Dubai, but for wholesale businesses, you will need to choose the wholesale & retail trade license categories.
- Choose A Trade Name For Your Business
Your trading name needs to describe what your company does succinctly, and you should be careful not to include any terms that could be considered offensive or potentially blasphemous. Moreover, the brand must not involve any acronyms with your name. For example, Charles Wang Wholesale Electronics would be acceptable, but C.W. Wholesale Electronics may get rejected. It is always best to have three preferred names registered with your license application.
- Choose Your Business Location
Choosing a business location is vital in starting your wholesale trading business. Many companies choose to base themselves in the Meydan Free Zone because it offers a 0% tax rate and 100% foreign ownership. Our location in central Dubai means you are close to the airport and the seaport, as well as local retail businesses who would want to purchase wholesale from you. We can advise you on setting up your free zone company at Meydan Free Zone and provide the support you need to make your business a success.
- Complete Your Application And Pay Fees
To receive your wholesale trading business license for Dubai, you will need to complete your application form and provide a range of documents and paperwork. Paying the associated fees as part of your business license application is also essential.
- Receive Your License And Open A Business Bank Account
Receiving your license to run a wholesale trading business in Dubai takes just a few days – so long as all your paperwork is in order and your application form and fees are all correct. At Meydan Free Zone, we can support you by ensuring that all your paperwork complies with the requirements and avoids unnecessary administrative errors.
Once your license has been approved, the final step is to open a business bank account so that you can make and receive payments – Meydan Pay helps you with banking solutions for businesses working in our free zone. You can choose from a selection of local and international banks to open your business account; you need to start making and receiving payments.
This five-step process to starting a wholesale trading business in Dubai typically takes no more than four working days – and for many customers at Meydan Free Zone, it often requires even less time than that if all your documents pass through compliance swiftly.
Cost Of A Wholesale Trading License In Dubai
The cost of a wholesale trading license in Dubai varies based on the number of visas you request as part of your application. If no visas are required, your license application can cost as little as AED 12,500, up to AED 23,600 for six visa allocations. This figure includes your business license and associated fees.
For a quote tailored to your business and the number of visas you need to apply for, contact Meydan Free Zone today, and we can give you a precise figure for how much your wholesale trading license will cost.
Documents Required To Get A Wholesale Trading License
If you want to start a wholesale trading business in Dubai, you will need to provide the following documents as part of the application process. At Meydan Free Zone, we can support you with the entire process of compiling these documents and verifying them for any errors:
- A completed application form which describes what your business does and all the varied goods you will trade-in.
- Copies of your passport.
- A copy of your residence visa (if applicable)
- Emirates ID copy (if applicable)
Why Choose Meydan Free Zone?
Meydan Free Zone, located in central Dubai, close to the International Airport and a short drive to the seaport, is one of the most advanced free zones in the emirate. Many companies run their wholesale and retail businesses from our free zone, thanks to its location, amenities and added value services. Our highly experienced consultants can support you with all aspects of business setup in Dubai, so you can focus on starting your wholesale business.
We also provide several additional services to any company looking to launch a wholesale or retail business in Dubai, UAE. For example, Meydan Pay helps you with banking solutions for businesses working in our free zone. You can choose from a selection of both local and international banks; to open your business bank account, you need to start making and receiving payments.
For a business working in the wholesale sector, Learn more about Meydan Pay here. Similarly, Meydan Commerce is a comprehensive service to support you with selling your goods online on both Noon and Amazon – which can be an exciting new source of revenue for wholesalers.
With the market for wholesale and retail businesses set to grow in the coming years, now is an excellent time to launch your Dubai wholesale business.