Dubai is one of the most diverse areas in the United Arab Emirates. The city of Dubai offers a plethora of enterprises and business possibilities that draw in international businesses and investors year after year. For international investors looking for investment and company establishment opportunities in Dubai, the city provides a massive market. The Department of Economic Development (DED) in Dubai established the Instant Trade License in Dubai after analysing and determining the market’s requirements and needs.
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What is the Instant Licence in Dubai and how does it work?
You may get a business or professional licence in Dubai in as little as 5 minutes if you take advantage of the quick licencing programme. The immediate licence, which was introduced with the goal of boosting the UAE’s economy, makes it simpler and faster for businesses to get a trade licence and begin operations on the UAE’s continental territory.
Neither the Memorandum of Association (MOA) nor the rental agreement are required for this one-step procedure for the first year. These are only required to be submitted when renewing a business licence.
Benefits
To acquire a commercial or professional licence, depending on the type of your firm and the paperwork and approval requirements unique to your industry, the process may take anywhere from 2 to 3 days. However, with the Dubai quick licence, you may get your trade licence in as little as a few minutes and with fewer criteria than ever before.
Here’s a short rundown of the advantages of obtaining an immediate licence in Dubai:
Companies with the following business structures in Dubai are eligible to apply for an immediate licence:
Documents required for a Dubai Instant License (also known as a “instant licence”)
When applying for an immediate licence, the documentation requirements vary depending on the channel you choose to submit your application.
If you are submitting your application via DED’s e-Services platform:
The price of an instant licence
You will be provided with a single payment voucher that will cover the costs for initial approval, trade name reservation, and issuing of the licence all in one transaction. The cost of an immediate licence will vary based on the nature of your company’s operations. A set Market Fee of AED 3,000*, on the other hand, is applicable to all kinds of commercial operations.
*Dubai Economy has lowered the Market Fee from AED 500 to AED 250 in order to assist and promote businesses during the COVID-19 epidemic. It is necessary to pay this sum throughout the first year of employment. Renewal fees will be 2.5 percent of the rent for your commercial space starting in the second year and increasing each year afterwards.
Fees for Sponsorship
Any company operating in the UAE’s mainland must have a local sponsor in order to operate legally. The amount of the sponsorship fee is determined by mutual agreement between you and your local sponsor(s).
Process of submitting an application
The following are the fundamental procedures to take in order to submit an application for an immediate licence in Dubai via the DED e-Services platform:
If your company participates in commercial activity, you may join the Dubai Chamber of Commerce and Industry right away. You can also purchase an establishment card from the General Directorate of Residency and Foreigners Affairs (GDRFA) for a little extra cost.
Receive three work permits from the Ministry of Human Resources and Emiratisation for workers (MoHRE)
The worldwide Novel Coronavirus pandemic has prompted many nations to close their borders or limit air travel as a result of the outbreak. The consequences of this have had an impact on companies both locally and globally.
Instant License has become more important than ever in light of the present circumstances, in which travel options are restricted. It is the most advantageous choice for entrepreneurs from all over the globe who want to establish a company in Dubai and the United Arab Emirates. You may submit an application for it from the comfort of your own home. It also does not need travel to the United Arab Emirates.