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A reader from Dubai asks: I have a licence for a goldsmith. Can I change it to an LLC or an Agency? What will be the charges to pay? Can I carry on importing and exporting?
In fact there are three types of licences pertaining to jewellery and precious materials:
1. The goldsmith's licence: A professional licence that cannot be changed to an LLC. This is applicable to the reader's licence.
2. Industrial Licence: This is for manufacturing items made from gold and other precious materials, which can be an LLC.
3. Trading Licence: This is related to imports and exports, and this can be an LLC.
As for the related charges, they cannot be determined as charges vary from one licence to another, based on the type of the licence, its activities, capital and the rent amount of its place. Usually they charge five per cent from the rent amount payable as municipality fees, other than the Economic Department fees.
Questions answered by Advocate Mohammad Ebrahim Al Shaiba of Al Bahr Advocates and Legal Consultants
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