Dubai is a very feasible location for great business opportunities. This is due to its easy policies on taxation, the great connections with customers that it offers an uncomplicated regulation or trade license. These great features make it one of the best choices for entrepreneurs and investors all over the world. To establish a business trade license in Dubai, one is required to have a business license be it in form of a professional license, commercial license, or industrial license. However, the initiative (Initiative of Instant License) by the Dubai government has made the process of obtaining a license easier which has consequently made business operations easier and more efficient.
What is an instant trade license?
As the name implies, a digital license is processed almost immediately you apply for it via an e-portal. It was an initiative started by The Dubai Department of Economic Development (DED) in 2018 to promote the UAE’s economy by attracting fresh and new investors into the market and making the process of obtaining a license less complicated and faster.
What are the advantages of obtaining an Instant trade license?
- It takes lesser time to obtain an instant license.
- Getting an instant license does not require you to get a tenancy contract commonly referred to as Ejari.
This will enable you to start your business operations as soon as you can and test the waters without having to spend a lot of money. The primary license will have ‘Dubai Municipality’ registered as your office address and your business will be allowed to commence business activities using the license for a year after which a registered commercial lease contract must be presented and all legal documents needed for the company formation obtained.
Who can obtain a Dubai Instant trade license?
Dubai Instant trade license can be obtained by individuals, startups, freelancers, and small-scale businesses operating in Dubai. The license allows for the immediate setup of a business in specific sectors and provides access to business-friendly benefits and facilities. To be eligible, the applicant must meet certain criteria such as being a resident in Dubai and having a valid passport.
What are the procedures for obtaining a Dubai instant trade license?
The following are steps that must be taken to get a Dubai instant license in Dubai:
- Get an application form
- Pick a business activity
- Pick a trading name
- State the total share capital of the company
- Submit the required documents
- Pay the fees
Also read: Company license in UAE
What are the documents required to obtain a Dubai instant trade license?
The documents required for a Dubai Instant License include:
- Passport copies of all the shareholders
- Emirates ID and copies of residence visa
- NOC from current sponsor/employer (if required for the foreign shareholder)
- Copies of the local sponsor’s ID and passport
To learn more about Dubai Instant trade Licenses, visit- https://dubaibusinessetup.com/