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.
Table of Contents
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:
In 5-10 minutes, you will get an email.
Issuance on the same day
Start doing business as soon as possible.
For the first year, there is no need to register a trade name.
For the first year, there is no need for a MOA.
For the first year, there is no need to sign a lease.
Application may be submitted online or in person.
In Dubai, who is eligible to apply for an Instant Trade License?
Companies with the following business structures in Dubai are eligible to apply for an immediate licence:
Limited Liability Corporation (LLC)
Sole Proprietorship in a Limited Liability Company (L.L.C.)
Company for the Civil Servants
Please keep in mind that in Dubai, instant licences may only be granted for operations that do not need any external authorization.
External approvals are those that are needed from other government authorities or government-approved entities in addition to the internal clearances.
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:
There are no extra papers needed.
Original identification is needed in order to establish an account and get a UAE Pass ID (for those not having an existing account)
If you are applying via Service Centers, Happiness Lounges, or Smart Lounges, please follow these instructions:
Documents such as passport copies of all partners and managers are required, and all partners or at least one of them must be present in order to apply for the licence.
Copy of the foreign partner’s UAE residency visa and Emirates ID are required (s)
Copy of foreign partner(s)’ UAE visit visa (if they do not have a resident visa in the UAE)
In the event of General Trading, a NOC from the existing sponsor of the residence visa-holding partner(s) is not needed. Also required are a copy of the local sponsor’s passport and an Emirates identification card.
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:
Choose a legal type (company structure) from the drop-down menu: LLC, LLC-SO, Civil Company, or Sole Proprietorship.
Select your company’s business activity from the list of options accessible to you.
Decide on the shareholding structure for your corporation.
Please choose three possible trade names.
Make a decision on the share capital of your corporation.
Complete all of the required application forms.
Please provide all of the necessary documentation.
A payment voucher will be given to the customer.
Make the required payment.
You will be given an Instant Licence.
You will be able to begin trading after the trade licence has been granted.
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)
COVID-19 Revised Version
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.