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Before any business can begin trading in the UAE, it must first register its trade name, the first step towards obtaining a trade licence. In doing so, the owner needs to specify his business activity.
When choosing a trade name, the entrepreneur must make the following considerations: that it is suitable for his type of business, that it is not currently (or even previously) in use in the same or any similar industry, that it is not misleading with regard to the products/services he provides, and that it is respectful of the region and does not make any references to religion, government or any local or international Arab entities.
In Dubai, businesses need to reserve their trade names at the Department of Economic Development (DED). The application can be done electronically, or through a law firm or a document clearing office authorised by the municipality.
Applicants will be issued a transaction number or a payment voucher required to pay the fees which vary depending on the language and content of the name. Payment must be done on the same day of application online or at banks, Emirates Post and authorised document clearing outlets either by cash, credit card or cheque. The entrepreneur also has the option to transfer money from his account.
The applicant is then given a date to pick up his trade name approval certificate, which will only be released once all the required fees have been paid.
• Picking a trade name first step to getting a licence
• Application can be done online, through law firms
• Fees vary depending on the content and language
Source: Nicholas Baker, Special to Classifieds
The writer is a freelancer