Dubai is continuously at the forefront of developing new investor-friendly policies. The Emirate of Dubai's imaginative leadership has launched an initiative called Dubai Instant License to let entrepreneurs obtain a business license in minutes. As a result, the time-consuming, traditional business setup process is no longer necessary. An eligible individual can apply for an instant license, receive it, and immediately begin conducting business.
What is an Instant License in Dubai?
In Dubai, the Department of Economic Development (DED) is in charge of providing company licenses. The newly established instant licensing Dubai approach eliminates the need for documentation in order to obtain a business or professional license.
You can apply for an instant license if you are an individual thinking about starting a commercial or professional business in Dubai. The entire procedure is carried out online and can be completed in a matter of minutes. The documents listed below are not necessary to complete the quick license Dubai formalities.
- Memorandum of Association (MOA)
- Tenancy Contract (Ejari)
- Registration of trading name
After you complete out the online form and upload the required documents, the government will grant you a Dubai Instant License, allowing you to start your business immediately.
What are the Advantages of a Dubai Instant License?
Our skilled team will guide you through the process of obtaining an instant license in Dubai or establishing a business on the mainland. Entrepreneurs in the UAE can benefit greatly from an instant license. The following are some of the benefits of doing so:
- Simple online application
- Get the license issued in minutes.
- Documentation part is minimal
- Avoid the difficult process of a tenancy contract or Ejari for commercial and UAE office space by getting the license in minutes. For the first year, you can work from a virtual workspace. During the first year of business, use the first year to settle in and choose a location. From the following year onwards, move your office to a physical location.
- No additional approvals or requests are required
- No need to register a trading name
- Cost-effective business setup formalities
- No need to prepare or notarize a Memorandum of Association (MOA)
- The best way to explore the Dubai market and analyze the growth probability, feasible markets, and operation methodology
Who is eligible to apply for an Instant Trade License?
In Dubai, companies with the following business structures are eligible to apply for an immediate license:
- Sole ProprietorshipOne Person Limited Liability Company L.L.C.
- Civil Company
Note that in Dubai, instant licenses can only be issued for activities that do not require any outside approvals.
Additional clearances from other government bodies or government-approved agencies are necessary as external approvals.
Read more :-Who Needs a Trade License in Mainland?
Documents Required in Dubai for an Instant License
The documentation requirements vary depending on how you apply for an immediate license.
If you're using DED's e-Services platform, follow these steps:
- No additional documents required
- Original ID required to create an account and get a UAE Pass ID (for those not having an existing account
If applying through Service Centres
- All partners or at least one of them must be present at the service center to apply for the license
- UAE residence visa copy and Emirates ID of foreign partner (s)
- Copy of foreign partner's UAE visit visa (if not a resident visa holder)
- NOC from the present sponsor of the partner who is on a residence visa (s)
- Copy of local sponsor's passport and Emirates ID
Note : In the case of General Trading, a sponsor's NOC is not necessary.
Application Process
Following are the basic steps to apply for an instant license in Dubai-
- Select the Legal Type (business structure) – LLC, LLC-SO, Civil Company, or Sole Establishment
- Choose your business activity from the list of available activities
- Select the shareholding structure of your company
- Choose three trade name options
- Decide the share capital of your company
- Complete the necessary application forms
- Submit the required documents
- A payment voucher will be issued
- Make the payment
- Receive the Instant License
- Once the trade license is issued, you Instantly become a member of the Dubai Chamber, if your business engages in commercial activity
- Receive an establishment card of the General Directorate of Residency & Foreigners Affairs (GDRFA), for an additional fee
- Receive three work permits for employees from the Ministry of Human Resources and Emiratization
Instant License Cost
Two ways to recognize Instant License Cost
Voucher for Payment
A single payment voucher will be sent to you, which will contain the fees for first approval, trade name reservation, and license issuing. The cost of an immediate license will vary depending on your company's activity. All sorts of business activity, however, are subject to a fixed Market Fee of AED 3,000
Dubai Economy has decreased the Market Fee to AED 250 to help and promote entrepreneurs during the COVID-19 pandemic. For the first year, this sum is applicable. The renewal cost will be 2.5 percent of the rent of your commercial space starting in the second year.
Fees for Sponsorship
Any business operating on the UAE mainland must have a local sponsor. The amount of your sponsorship fee is determined by a mutual agreement between you and your local sponsor.
Conclusion
Dhanguard can assist you with establishing a business in the United Arab Emirates. Our experts will complete all of the necessary paperwork on your behalf in order to receive an immediate license in Dubai and will advise you on the best business activities to pursue.
We have been a leading business setup services in Dubai. Contact us right now to receive your Dubai quick license and start doing business.