It is widely known that trade licenses are fundamental for establishing a business in the UAE. Apparently, there are different types of licenses categorized on the basis of the activities companies execute such as industrial activities, professional activities, and commercial activities. The overall procedure to obtain one of these licenses takes a minimum of three to four weeks.
However, oftentimes, investors look for better solutions to set up their companies as fast as they can. Hence, to address this concern, the UAE government introduced the instant license in Dubai that eliminates the extended procedures for the initial year of operation and allows the owners to get started with their business immediately.
Instant License in Dubai
The Dubai Instant License is an ideal alternative for investors and entrepreneurs who are looking to get started with their new venture quickly. This license allows you to spend the initial year of your business settling into the Dubai culture and a new lifestyle. Thereafter, they can carry out other procedures from the second year onwards such as trade name registration, finding a business location, documentation, etc.
On the whole, an instant license in Dubai enables its holders to discover more about the local market, explore growth potential, build networks, and enhance operations.
Advantages of Instant License in Dubai
The Instant License in Dubai comes with many benefits, to mention a few –
- A straightforward application procedure
- Quick issuance within minutes
- Eliminates complex processes like obtaining tenancy contracts, Ejari registration, etc.
- Relieves from renting office space for the first year of operation and allows operating from a virtual office
- Minimal administration
- No obligation to get external approvals
- No need to prepare the statutory documents of the company
- Easy to explore the market and assess the growth prospect
- Creates opportunities to discover accomplishable markets and approach the operation methodology
- Allows both online and offline application
- Minimal start-up costs
- Let the owner begin small and expand when they are ready
Businesses Eligible for Instant License in Dubai
Business owners with the following corporate structures can apply for an Instant License in Dubai –
- Single Ownership L.L.C.
- Limited Liability Company (LLC)
- Sole Proprietorship
- Civil Company
As long as your company and business activities do not require any external approvals from government authorities to operate in Dubai, you can apply for an Instant license. To check if your business is eligible for this procedure, contact UAE Expansion.
Documentation Requirements for Instant License in Dubai
The documents required for the instant license application process are as follows:-
- Passport copies of all associated partners and owner
- UAE visa and Emirates ID of the foreign partner/s
- NOC from the current sponsor of resident partner/s
- Passport copy and Emirates ID of local sponsor
Cost of Instant License in Dubai
Compared to the traditional process, an instant license is an economical option. However, investors need to know the instant License Dubai cost and whether or not it is worth applying. The overall cost includes the trade name registration charges, the initial approval fee, the visa application fee, the rent of the virtual office, and the license fee.
Additionally, there might be further considerations for the instant License cost for which UAE Expansion professionals can help you with the details and help you in getting your license cost-effectively.
Easy steps to start your business in Dubai with an Instant License
Applying for an instant license is simpler than the general trading license process. However, it is always better to move forward with expert assistance. You can get your business off the ground with a few easy steps, and luckily, you have UAE Expansion by your side to walk you through all these steps:-
Choose an activity
Business activity or activities are one of the primary things you need to determine when launching a business in Dubai or anywhere across the UAE. The DED has listed more than a thousand permissible activities in the region, and you can choose the one that suits best your operational needs and preferences.
For more details on DED Instant license activities, get in touch with the company formation specialists at UAE Expansion.
Finalize a jurisdiction
Free zone company setup allows you to own your company outright and repatriate all capital and profits, with no restrictions on currency. Moreover, the entity is also exempt from import and export taxes. Nevertheless, there are some trade restrictions as the free zone companies are not allowed to operate in the local UAE market. To do so, they need to hire a local distributor who will conduct trade on their behalf.
On the other hand, Mainland companies are permitted to trade within both local and international markets. They are also allowed to take on government contracts. As per the reformation in corporate regulations, Mainland entities can now have 100% foreign ownership but for specific activities.
Select a legal structure
The instant license application is only for limited structures such as LLCs, Civil Companies, or Sole Proprietorship. You can make a choice considering the share capital and the shareholding order.
Register a company name
There are strict naming conventions applied to businesses by the UAE government when it comes to deciding on a name for a new company in Dubai. For instance, check if the selected name isn’t taken or already registered by another business; It shouldn’t carry any derogatory terms or religious or political references; It should not disturb public peace.
Business owners are required to adhere to these rules or face legal consequences otherwise. The company formation experts at UAE Expansion know the prerequisites and thus, can help your business stay compliant with the law.
Apply for the license
Obtaining the relevant licenses and permits is the major aspect of starting a business in Dubai. This compulsion also applies to instant licenses. The legal requirements will differ according to the location or jurisdiction you choose for your enterprise. However, the general requirements will include an application form, passport copies, and Emirates ID of the company shareholders.
Open a business account
Now that you have your license, it would be easy to set up a business account. A corporate account or a business account helps the owners to separate their professional expenses from their personal expenses. They can go for the best financial institutions or banks, including national and international banks, available in their jurisdiction.
Apply for the required visas
At last, get your immigration and visa processing done to work and settle in the UAE. You can easily apply for your respective visas including the employee’s visa and family visa, after receiving your instant license in Dubai. To make this process easier, quicker, and hassle-free, reach out to the business formation experts at UAE Expansion.
Get your Instant License in Dubai with UAE Expansion
With so many lucrative opportunities and advantages of doing business in Dubai, now is the time to make your entrepreneurial dreams a reality. And getting an instant license in Dubai is the way to go. If you are looking for tailored assistance, then UAE Expansion is here to help. They are a team of highly driven professionals who are approachable and proactive in understanding and meeting their client’s needs.
Get the right guidance from industry experts about the process of getting your license and ensure a smooth and efficient business setup in Dubai. So, contact UAE Expansion today to find out more.