When it comes to investing in a country outside of your own nation, you can’t help but think of the UAE. After all, as we have already mentioned in our article about reasons for investing in the Middle East, the advantages are quite a few.
But how can we prevent someone from copying our trademark or, however, our business idea? Let’s see it together!
What is a trademark and why is it important to have one?
A trademark, in short, represents the official name of a company, but also its symbol or logo that it wants to use to be recognized worldwide. Just think of the logos of large companies such as Abu Dhabi Commercial Bank, one of the most important banks in the Arab Emirates.
Having a trademark, in fact, allows you to distinguish yourself from all other companies that may have a similar name or, in any case, from those who might use your name to carry out illegal activities.
In this way, in the event that you carry out illegal actions in the name of your company, you can protect yourself both legally and economically. In order to register one in the United Arab Emirates, it is necessary to apply to the Ministry of Economy of the UAE, which is the official authority that regulates its registration, renewal and cancellation.
Who is entitled to have a trademark?
Many investors and businessmen may wonder what are the requirements to register a trademark in the UAE. According to what is written on the official website of the Ministry of Economy, they can register a trademark:
- Citizens of the UAE who practice commercial, industrial activities or offer services
- Foreign nationals engaged in commerce, industry or services
- Foreign citizens who engage in any kind of activity in other countries with reciprocal relations.
As you can see, there are no very strict limits, which is why so many investors choose the UAE as the country for their business activities. As for the documents to be submitted to the Ministry of Economy, you will have to equip yourself with:
- Power of Attorney
- Document of Priority
- Passport (Copy)
- Trade Licence (Copy)
- List of Goods and Services that the investor wants to protect
How much do you pay to register a trademark?
The trademark registration, following the application, involves a fee to be paid, which is equivalent to AED 8,700, or approximately $2368. Logically, in the case of foreign businesses, these costs do not include any official or legal translations that may be added to the registration.
Upon successful approval, an additional AED 1000 must be paid to publish the trademark in the official trademark journal, with additional translation into 2 local Arabic languages.
Payment can be made conveniently online and, considering the amount of money involved and the many advantages of reduced UAE taxes, this process is attractive to most entrepreneurs looking to launch a new business.
In particular, very trending sectors for this country are technology, food and financial investments.
As we have briefly seen, registering a trademark in the UAE is not a complicated process, nor is it expensive.
For any additional information, just connect to the official website of the Ministry of Economy, where you can also find regulations about the country’s economy, its history and its services.